Bond v. Key

The record discloses that during the Spring of 1926 C. W. Hewitt obtained a loan from N. U. Bond in the sum of $125,000 and secured the payment thereof by a first mortgage on valuable business property located in the City of St. Petersburg, Florida. The land was owned by C. W. Hewitt and the money borrowed was used to build or construct a building thereon commonly known as the Sears-Roebuck building. The property was leased on a ninety-nine year lease but the profits and revenues from the rental thereof were insufficient to pay or retire the interest and the indebtedness and at the same time…