Rodler v. Pacht

This action was brought to foreclose a mortgage because of the non-payment of the taxes. The bond provides: “ The whole of said principal sum shall become due at the option of said obligee * * * or after default for 30 days in the payment for any tax or assessment which may be levied or imposed upon the premises described in the mortgage collateral to this bond.”

The mortgage provides: “ 4. That the whole of said principal sum shall become due * * * after default in the payment of any tax, water rate, or assessment for 30 days after notice and demand.”

The defendants failed to pay the taxes due…