Otis v. May

This was a bill filed by appellee against appellant to foreclose a mortgage. Otis and his wife executed a mortgage to May on the 31st day of December, 1881, on a part of lot 5, block 7, in the city of Bochelle, for §3,000, due in five years, with interest at eight per cent, payable annually. The mortgage provided that if default should be made in the payment of the interest, or any installment thereof, then May, or his assignee, might, at his election, declare the whole amount of the mortgage, principal and interest, due, and foreclose for the same. Default was made in the payment of the…