Newman v. Ligonier Building, Loan & Savings Ass'n

Action by the appellee against the appellant to foreclose a mortgage executed by the latter to the former to secure the payment of the following obligation:

“$500. Ligonier, Ind., February 26th, 1875.

“ For value received, I promise to pay to the order of the Ligonier Building, Loan and Savings Association, of Ligonier, Indiana, five hundred dollars, eight years after date of incorporation of said association, viz., January 27th, 1874, *296or whenever said association shall be declared by its board of directors legally ended; interest at the rate of ten per cent, per annum, payable in equal monthly…