Ulery

For some time prior to June 10, 1926, Howard E. Ulery and his wife were the owners of a citrus grove near Pomona. Three promissory notes were executed by them, one in June, 1926, one in May, 1927, and one in May, 1928, each payable one year from date, aggregating $500, in favor of I. S. Chapman & Company, and at the same time as security for the repayment thereof, executed chattel mortgages upon the fruit growing and to be grown on the lands of the promisors.

Each of the crop mortgages given by Ulery to I. S. Chapman & Company as security for the three promissory notes, provided that Howard E. Ulery should take care of the crops and “ . . . harvest, pick, gather and box and deliver immediately into the possession of a marketing association, packing house or other buyer, such quantity of said citrus crop as will when sold produce enough proceeds ... to pay off . . . said promissory note . . . ”.

In addition to the usual provisions found in a promissory note, it was specified in each of these notes that in the event said ranch should become enqumbered, the principal and interest of the notes should immediately become due and payable.

In September, 1928, Mr. and Mrs. Ulery…