Louisville Joint Stock Land Bank v. Ezell

Opinion of the Court by

Judge Richardson

Affirming.

On July 3, 1922, Y. M. Aeree and wife executed and delivered to the Louisville Joint Stock Land Bank a promissory note for $15,000, payable in 66 semiannual payments of $525 each, interest included, on April 1st, and October 1st of each year,. until the year 1955, and secured the note by a mortgage on a 308-acre tract of land in Christian county. Under the mortgage, the mortgagee had the option to preciptiate the collection of the whole note in the event any payment was not made when due. In the following year, Aeree sold the. farm to A. T.…