Equitable Life Insurance v. Jeffers

— On October 26, 1923, Ed and Howard Jeffers were the owners of the 195 acres of land involved herein. On that dale they borrowed from the plaintiff $18,000, which loan was evidenced by a promissory note of even date and due in five years for that amount and a real estate mortgage on the aforesaid land as security therefor. Said mortgage was duly recorded on the 29th day of October following. This mortgage pledged the rents, issues and profits of said property, and provided that, on breach of any of the terms thereof, the mortgagee was entitled to possession, and that, in case of foreclosure,…