Jewell Realty Co. v. Kansas City Life Insurance

The appellee brought this action to foreclose a mortgage on a large tract of land in Chicot County, Arkansas, known as Sunnyside Plantation. On the 21st day of July, 1026, the appellant executed its note- for $225,000, secured by a mortgage on said plantation, to become due on the 21st day of July, 1931, and bearing interest at the rate of 6 per cent, per annum, payable semi-annually, from date until maturity, and thereafter at the rate olf ten per cent, per annum. Said note contains this provision: “If default is made in the payment of any interest hereon, the lawful owner may declare the…