Stinson v. Bell

The opinion of the court was delivered by

Dawson, J.:

This was a mortgage foreclosure case. The words “payable annually” were omitted from the note. By the terms of the note the makers promised to pay the principal five years after date with interest at the rate of seven per cent per annum from date. It provided:

“The right is hereby reserved to pay $100.00 or any multiple thereof at any interest paying period, provided 30 days’ notice is given.”

The mortgage provided:

“And if the taxes and assessments of every nature which are or may be assessed and levied against said premises, or any part…