Graff

Plaintiff sued on a promissory note. The defendant pleaded the statute of limitations and had judgment, from which the plaintiff has appealed on the judgment-roll and the bill of exceptions.

The promissory note was executed on November 6, 1925, as part payment for services rendered by plaintiff in negotiating a lease of real property owned by the defendant. The note which was made payable upon demand was accompanied by an agreement which was made a part of the same transaction and which recited that the note should not become due until the completion of a building contemplated to be erected pursuant to the terms of the lease and that the note should not be presented for payment “until after said contemplated building is completed and ready for occupancy”. The lease called upon the defendant as owner of the. property to add three stories to an existing building at a cost which should not be in excess of $180,000. It ran for a term of twenty years at a monthly rental of $4,400 for the first half of the period and $5,500 for the remainder. It stipulated that if the cost of the improvements should exceed the sum of $180,000 then “by consent of both parties hereto” the rentals therein…