Curtis

The pleaded facts of the plaintiff’s case, briefly stated, are these: The defendant, A. D. Holee, on June 20, 1912, executed a note, secured by a mortgage on real property, in favor of one M. M. Arthurs, in the sum of two thousand five hundred dollars. The mortgage note by its terms was due and payable “on or before three years after date,” and the interest thereon, at the rate of six per cent per annum, was to commence running from July 1, 1912. The mortgage was duly recorded in the county recorder’s office of the county wherein the mortgaged property was located. The. mortgagor, Holee, conveyed the mortgaged property to one Haymond on or about the first of July, 1915, when he was still the owner in fee simple, subject to the mortgage, of the mortgaged property. Haymond made and entered into an agreement in writing with M. M. Arthurs, the original and then owner of the said note and mortgage. This agreement, which was written on the back of said note, provided that, in consideration of a raise in the rate of interest, provided for in and by said note, from six to seven per cent from the date of said agreement, namely, July 1, 1915, the time for the payment of the note was…