Crain v. Federal Land Bank

February, 1920, (plaintiff executed a mortgage for $1,000 in favor of the Federal Land Bank, defendant in injunction, payable in thirty-five annual installments, for $65 each, the first falling due on the 15th day of February, 1921, the others annually thereafter.

The bank had the property on which the mortgage had been given seized under executory process. In its petition asking for the issuance of the' executory proceedings, the bank averred that according to the stipulations of the act of mortgage, if plaintiff, Warren Oliver Crain failed to *621promptly pay any installment due thereon as fixed…