Bank of Clinton v. Goldsboro Savings & Trust Co.

On 16 August, 1922, J. O. Bizzell and wife, lola Bizzell, made and executed a mortgage on certain land to Mary F. Edwards, executrix, which on 28 August, 1922, was duly recorded'in the office of the register of deeds of Wayne County, N. C. The mortgage was to secure $11,000, as follows: $1,000 due on or before' 1 January, 1923; $2,000 due on or before 1 January, 1924; $2,000 due on or before 1 January, 1925; $2,000 due on or before 1 January, 1926; $2,000 due on or before 1 January, 1927; $2,000 due on or before 1 January, 1928.

The following provision is in the mortgage: “-But if default…