Phœnix Mutual Life Insurance v. Bank of Kestler

On April 14, 1921, Keaton borrowed from tbe Phoenix Mutual Life Insurance Company the sum of $20,000, and to secure the same executed to that company his deed to various land lots and portions of land lots in the 6th district of Early County, containing in the aggregate 2,887-1/2 acres. This indebtedness fell due on October 1, 1925, but was extended by the lender for five years from that date, the lender retaining its original security deed to secure the payment of the debt. In 1923 Keaton returned for taxation, in Early Count}', 4553 acres of land at the valuation of $32,880, city real…