Mayo v. Fitchburg & Leominster Street Railway Co.

The plaintiff brings this action for the principal and interest due upon three bonds issued by the defendant which by their terms became payable upon February 1, 1921. Payment was secured by a mortgage provided for by a trust instrument executed contemporaneously with the bonds. In accord with a provision of the trust instrument, payment of principal and interest was extended to February 1, 1926. The plaintiff assented to this extension. Payment was not made on February 1, 1926, or at any later date. The bonds are now due and the defendant is in default, unless its default has been waived and…