Milici v. Difrancesco

On June 8th, 1929, the defendants gave to the plaintiff a mortgage upon certain apartment house properties located in New Haven to secure an indebtedness of $30,000 evidenced by their note payable in monthly instalments of not less than $800 each. The note contained a proviso that if any payment of principal or interest should be in arrears for over five days, the unpaid balance would, at the option of the holder, become immediately due and payable. During September of 1931, the plaintiff consented to a modification of the note by permitting the monthly payments to be reduced to $300. In…