Stalder

The defendant, Riverside Groves and Water Company, appeals from an order denying its motion for a new trial.

On July 24, 1909, said defendant made its promissory note, whereby it promised to pay to plaintiffs, on or before January 2, 1912, the sum of $3,627, with interest thereon at the rate of ten per cent per annum, payable semi-annually. Principal and interest were made payable at Riverside, and the note provided that if default should be made in the payment of any interest when due, “both principal and interest shall thereafter be due and payable at the option of the holders of this note. ’ ’ The note was secured by a mortgage of real property.

On February 17, 1911, the plaintiffs commenced this action to foreclose the mortgage, alleging that the maker of the note had failed to pay the interest due on the twenty-fourth day of January, 1911, and that on the twenty-fifth day of January, 1911, the plaintiffs had exercised their option to declare both principal and interest due and payable. These allegations were denied by the defendant corporation.

The findings were in favor of the plaintiffs on the foregoing issues, and judgment of foreclosure followed. The sufficiency of the…