Panama Savings Bank v. Arkfeld

Plaintiff’s petition was filed March 2, 1935. It asserted that on April 1, 1932, the defendants executed and delivered to plaintiff two notes, one for $3,000 due January 1, 1934, the other for $2,000 due January 1, 1935, each bearing interest at 6 percent per annum until due, and 8 percent per annum after maturity. To secure the payment of the notes, defendants executed, acknowledged and delivered to plaintiff a mortgage on 40 acres of land in Shelby county. The notes were asserted to be past due and unpaid with delinquent interest, making a total amount due January 1, 1935, in the sum of…