Wells

The plaintiff brought this action for a decree foreclosing a certain mortgage executed and delivered by the defendants to the plaintiff to secure the payment of a promissory note for the sum of forty-eight thousand dollars, which was executed by said defendants in favor of the plaintiff.

The note in suit, which is set out in the complaint in haec verba, was made and is dated on the fifteenth day of March, 1912, and was payable “on or before” three years after its date. It called for interest at the rate of six per cent per annum, payable annually, and further provided: “And in case said interest is not paid within one month after the same becomes due, it shall be added to the principal and bear a like rate of interest until paid, and the whole of said principal and interest shall forthwith become due, at the option of the holder thereof, without notice.”

This action was filed on the eighth day of May, 1913, and it is alleged in the complaint “that no interest on said principal sum mentioned in said promissory note, and in said mortgage, has been paid; that, on the twenty-seventh day of November, 1912, the sum of four thousand six hundred dollars in United States gold coin, on…