Usbe Bldg. v. Ocean Pier Realty

The bill, in the ordinary form to foreclose a building and loan association mortgage, discloses that the mortgage, upon property in Long Branch, was executed June 10th, 1926, by the D. D. Realty Company, Incorporated, to the complainant to secure the bond of the company, Fred Nieburg, Emanuel Kramer, Harry Davis, Joseph Davis and five others, for $75,000, to be paid in monthly installments in the manner of such mortgages. The bond and the mortgage contain acceleration clauses, that if installments of dues or interest fall in arrears three months, the principal shall become due at the option…