Wood

This is an action to foreclose a mortgage covering 220 acres of land situated in Kings County and given to secure two notes, each for the principal sum of $4,800. On June 4, 1927, the plaintiff agreed in writing .to sell the land in question to J. Y. Peterson and his wife for $12,570, the agreement providing that when $2,970 of the purchase price was paid the vendee might demand a deed and give back a mortgage securing the balance of $9,600, to be evidenced by two notes payable at certain named times. The sum of '$2,970 was paid by J. Y. Peterson by June, 1928, and during that month he demanded a deed. The plaintiff executed a deed conveying the premises to J. Y. Peterson and his wife and delivered the same to an abstract company which was handling an escrow in connection with the transaction. A few days later the plaintiff received back this deed and, at the request of J. Y. Peterson and the abstract company, furnished another deed conveying the property to the Peterson Farms Company, a corporation, with instructions to deliver the same upon obtaining for her a first mortgage upon the property securing two notes for $4,800 each, payable on terms stated. This mortgage was recorded…