First & Farmers National Bank & Trust Co. v. Reynolds

Farr, P. J.,

This case involves the Deficiency Judgments Act of July 16,1941, P. L. 400, 12 PS §2621.1.

On April 10, 1923, Ward W. Reynolds made a loan at the First National Bank of Montrose in the sum of $4,000. He gave a collateral note for that amount and on that date he executed and delivered a bond and mortgage in said amount to said bank, reciting in the mortgage that it was given as collateral security for *220the payment of the note. It was listed on the note as collateral. On August 22, 1923, a life insurance policy for $5,000 was assigned to the bank as additional collateral security and…