Massachusetts Mutual Life Insurance v. Ruetter

In January, 1926, defendants gave a first mortgage in the usual form to plaintiff company in the amount of $18,000 with interest at the rate of six per cent, payable semi-annually. This mortgage became due January 1, 1931, and the defendants being unable to pay the indebtedness, the parties ag'reed to an extension for an additional five years. Annual payments of $750 were provided and interest was made payable semi-annually. All the provisions in the original mortgage, including the acceleration clause, were continued in force. The extension agreement contained the following provision:

“In…