Kooistra v. Gibford

—On or about March 1, 1920, Ray B. Gibford and wife executed a note for $34,000 to John Kooistra, plaintiff and appellee, securing the payment thereof by mortgage upon 160 acres of land in Jasper County. The mortgage contained the following provision, pledging the rents and profits to the payment of the indebtedness in the event that suit should be commenced to foreclose the mortgage:

“A failure to comply with any, of the agreements hereof shall cause the whole debt at once to become due and collectible, at the option of the second party without notice, and said second party or assigns may…