Hinman v. Sage

The following material facts are without dispute in the record. On September 24, 1908, appellant executed a note to the Farmers Savings Bank of Wever, Iowa, for $6,000, payable in ten years. To secure the payment of said note, she executed a mortgage upon a 211-acre tract of land in Lee County. Since she was unable to pay the note when due, a foreclosure action was instituted by the hank. On December 4, 1918, appellant conveyed the above-described tract to the hank, and received a lease for one year, containing a provision that she might, at her option, pay the amount due on the note,…