Smalley v. Renken
Supreme Court of Iowa
Appeal from Osceola District Court. — Hon. Scott M. Ladd, Judge. On the twenty-eighth of March, 1887, N. Smalley made to the-plaintiff his note due in five years, secured by a mortgage on real estate.
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Appeal from Osceola District Court. — Hon. Scott M. Ladd, Judge. On the twenty-eighth of March, 1887, N. Smalley made to the-plaintiff his note due in five years, secured by a mortgage on real estate. The interest on the note was payable annually, and became due, allowing days of grace, March 31 of each year. ■ The mortgage contained the following provisions: “And it is further agreed, if default shall be made in the payment of said sums of money or any part thereof, principal or interest, or the taxes assessed on the above-described real estate shall remain unpaid for a space of thirty days…
1Opinion of the CourtG-ranger, J.
I. The claimed default in the payment of interest is reduced to this: The amount of 1. Mortgages: right of foreclosure: default in interest. interest due March 31, 1889, was fifty-five dollars and twenty-six cents. It was paid an^ aecepted on the fourth day of April, 1889, by a “check,” as follows:
“Ashton, Iowa, April 4, 1889.
Bank of Ashton.
“Pay to Isaiah Smalley or order fifty-five and twenty-six one-hundredths dollars, in full of interest due on his mortgage of six hundred and ninety dollars and seventy-eight cents, on the west half northwest quarter 21, 98, 42, due April 1, ;89.
“[$55…
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