First Citizens Bank v. Security State Bank

This is an action to foreclose a real estate and chattel mortgage executed by the defendants, Theodore Lee and Clara Lee, his wife, to secure the payment of notes aggregating $2,054.40, given November 3, 1921, and payable to the First State Bank of Wildrose. The payee bank failed and in February, 1927, the receiver transferred to the plaintiff in this action the notes and securities in question. The complaint alleges renewal of the notes and chattel security. The defense set up in the answer of the debtors is that an agreement was made between the creditor-mortgagee bank and the defendants…