Fid. Union Trust v. Prudent Invest.

On April 25th, 1927, George Dash, Benjamin Hirschberg and John C. Behnke executed their bond to the Fidelity Union Title and Mortgage Guaranty Company, conditioned to pay the sum of $100,000 in installments of $1,500 semiannually, and the balance on May 1st, 1932. To secure the bond they, at the same time, executed a mortgage covering real property owned by them on Lyons avenue in the city of Newark, New Jersey. The bond and mortgage were subsequently on December 20th, 1935, assigned to complainant (Exhibit C-3).

On the day of the execution of the bond and mortgage, April 25th, 1927, the…