Fender v. Appel

Appeal from a judgment decreeing the foreclosure of two real estate mortgages held to be coordinate, neither having priority over the other.

On April 1, 1918, Frank J. Appel and his wife were the owners of 200 acres of land consisting of contiguous tracts. On that date they borrowed from the Plainview State Bank $15,500. The debt was evidenced by two promissory notes, one for $8,000, the other for $7,500, payable in five years with'interest at six per cent per annum. To secure the payment of the $8,000 note the owners made, executed, and delivered to the bank a mortgage on the 200 acres; to…