Duke

Pacific Fruit Exchange v. Duke

Good Law
103 Cal. App. 340·1930 Cal. App. LEXIS 851·284 P. 729
Court of Appeal of CaliforniaJanuary 22, 1930Docket No. 3949.California1,327 words

Opinion

Lead Opinion

Thompson, J.

J.—This is an appeal from a decree of foreclosure.

The defendants were the owners of 200 acres of farm land in San Joaquin County. April 24, 1925, they executed and delivered to the plaintiff, which was a fruit-marketing corporation, their promissory note for $15,000, payable in installments of $5,000 on September 15th of 1925, 1926 and 1927, secured pursuant to section 2955 of the Civil Code by a crop mortgage upon all the products from said land during the years from 1925 to .1929, inclusive. The instrument also provided that “the real estate herein described is also hereby mortgaged to secure the indebtedness herein mentioned.” Only about the sum of $3,200 was paid upon the indebtedness in 1925. In 1926 the property was sold to the state for delinquent taxes, and was subsequently redeemed by the plaintiff. In 1926 the farm was not cultivated or cared for in proper manner and the plaintiff was compelled to and did take possession thereof and operate the same at a reasonable cost of $5,769.79, leaving a deficit in the income for that year of $2,233.26. No further sum was paid upon said note. The terms of the note provided in part that:

For default in the payments of both…

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