Riess v. Old Kent Bank

On July 3, 1923, Robert W. Brown (now deceased) of Grand Rapids, borrowed from the Old National Bank, of the same place, the snm of $8,000, and secured its repayment by a mortgage on a large number of lots in a Grand Rapids subdivision owned by him. The loan was payable 90 days after date. The mortgage provided that upon payment of the amount secured by it, according to the terms of a promissory note of even date, the note and mortgage should cease and become null and void. For 13 successive periods of 90 days each, the note was renewed. Partial payments were made from time to time. The…