De Groot v. McCotter

The opinion of the court was delivered by

Dalrimple, J.

The bill in this case was filed to foreclose a mortgage given to secure a bond, in the penal sum of f1000, dated on *532the 1st day of November, 1864, conditioned for the payment of $500 on the 1st day of November, 1869, with interest from date, at the rate of seven per centum per annum, to be paid quarterly. The condition of the bond contains an express agreement, that should default be made in the payment of the said interest, or of any part thereof, on any day whereon the same is made payable, and should the same remain unpaid and in arrear…