Baker v. Loves Park Savings & Loan Ass'n

The plaintiffs, Richard E. Baker and Laurie J. Baker, executed a promissory note dated March 5, 1967, payable to the defendant, Loves Park Savings and Loan Association. The note was for $15,700 with interest at 6 percent per annum and provided for monthly installment payments of $102. The note was secured by a mortgage on property improved with a single-family residence owned by the plaintiffs. Section A(8)(d) of the mortgage provides :

“A. THE MORTGAGOR COVENANTS DURING THE TERM OF THIS MORTGAGE:

* * *(8) Not to suffer or permit without the written permission or consent of the mortgagee being…