Hewett v. Dean

BELCHER, C. C.

This is an action to foreclose a mortgage on real property. The note, to secure which the mortgage was given, was for $2,500, dated October 29, 1887, and payable three years after date, with interest at the rate of twelve and one-half per cent per annum payable annually, and if not so paid to be compounded annually, and bear the same rate of interest as the principal. The note then contained the following provisions: “And should the interest not be paid when due, then the whole sum of principal and interest shall become immediately due and payable at the option of the holder of…