Federal Land Bank of Springfield v. Shoemaker

This is an action to foreclose a mortgage on a farm of about 300 acres in the town of Cazenovia, Madison county. The mortgage was executed on January 30, 1922, by defendant Alice G. Shoemaker, who then owned the mortgaged premises. It provided for payments in semi-annual installments.

Subsequently and on July 20, 1928, defendant conveyed the mortgaged premises to one Mary J. Reed, who assumed and agreed to pay the mortgage. This mortgage contained the usual provision that in case of default in payment of installments, taxes or insurance, plaintiff might elect that the whole amount become due,…