Johnson v. Guaranty Bank Trust Company

Hart, C. J.,

(after stating the facts). A stipulation in a mortgage that, if the mortgagor shall flail to pay any note or installment of interest, or neglect to pay taxes or special assessments, the entire indebtedness shall become due and.payable, or that the mortgagee may, at his option, declare it to be due and payable, is a legal and valid provision. Hume v. Indiana Nat. Life Ins. Co., 155 Ark. 466, 245 S. W. 19; Marble v. Fallin, 161 Ark. 504, 256 S. W. 841; and McCormick v. Daggett, 162 Ark. 16, 257 S. W. 858. In the case last cited it was held that an acceleration clause in a deed of…