Des Moines Joint Stock Land Bank v. Danicourt

On December 13, 1919, Hortense Danicourt was the owner of real estate in Wilkin county which was that day mortgaged by her and her husband to the Des Moines Joint Stock Land Bank (respondent) to secure the payment of a loan of $14,500. Respondent is a corporation organized under the federal farm loan act (12 USCA, § 811, et seq.) with its office at Des Moines, Iowa. The mortgage indebtedness was to be paid on the amortization payment plan in 65 semi-annual instalments of $507.50 each and one final instalment of $423.85 becoming due January 1, 1953. Notes were executed to the same effect. The…