Farmers State Bank v. Scheel

— The defendant, Henry Scheel, is indebted to the respondent, the Farmers State Bank, in the amount of $880, upon a promissory note dated January 20, 1921. On March 19, 1921, defendant executed to respondent an assignment of lease covering *430certain lands he was then farming, containing the following provisions:

‘ ‘ This assignment is intended to secure the payment of the sum of Eight hundred Eighty Dollars, with interest thereon at the rate of 10 per cent per annum from date until maturity, after maturity, twelve per cent per annum, according to the terms of a certain promissory note dated Jan.…