Arend v. Great Southern Savings & Loan Ass'n

TITUS, Judge.

Claiming the balance of a $125,000 commercial loan made by it to plaintiff et alii had been prepaid, defendant charged and collected from plaintiff the prepayment penalty of $2,264.71. Plaintiff brought the present action to recover the prepayment penalty. When the trial court rendered judgment in favor of defendant, plaintiff appealed.

Plaintiff et uxor and Wagner et uxor signed the first mortgage promissory note in question which was payable in monthly installments of $1,195 each and secured by a deed of trust.

Inter alia, the note contained two provisions, i. e., (1) a default…