Fagan v. Babacz

Kime, P. J. —

Appellee Babacz borrowed from appellee bank $2,000.00 on December 16, 1927, and as evidence of said indebtedness executed to said bank an interest-bearing note in said sum due three years after date and deposited with said bank, as collateral security for the payment thereof, a certain purchase money mortgage belonging to him and executed by appellees, Bert and Cecelia Dobrzykowski, securing the payment of the principal sum of $8,000.00 and interest on certain real estate in St. Joseph County, Indiana. Said deposit agreement described the foregoing mortgage and then said: “The…