First Trust Joint Stock Land Bank v. Closner

— William Closner and wife, Susie Closner, made, executed, and delivered to the appellant their promissory note dated May 19, 1925, in the principal sum of $10,000, payable on an amortization plan in sixty-eight equal semi-annual installments of $325, and a final installment of $324.70. This note was secured by a mortgage upon 210.03 acres of land in Plymouth County, Iowa. Failing to pay the installment, which matured March 1, 1931, appellant elected to declare the entire remaining portion of the mortgage debt immediately due and payable, as provided by said mortgage, and commenced this…