Lindburg v. Engster

The note and mortgage upon which this suit is based were executed and delivered to the plaintiffs by the defendants, J. A. Engster and Anna Engster, on October 16, 1929, and duly recorded the following day. The principal amount of the note was $7,000. The mortgage covered a fractional quarter section of real estate in Page county, containing 146 acres, and was subject to a prior mortgage thereon of $14,500 held by the Federal Land Bank of Omaha. Failure to pay the interest installment due April 1, 1931, rendered the whole debt due and payable, by virtue of an acceleration clause contained in…