Murdock

February 4, 1875, Adam Murdock borrowed from the defendant Clarke eight thousand five hundred dollars, and executed to him his promissory note therefor, “with interest thereon at the rate of one and one fourth per cent per month from said fourth day of February, 1875, interest payable semi-annually, and if not so paid, to be added to the principal and bear a like rate of interest ”; and at the same time conveyed to him certain real property consisting of the Big Valley ranch and the Beaver Creek ranch “for the purpose of securing the payment of said promissory note according to the terms thereof.” March 22, 1875, Clarke iconveyed to his co-defendant, Cox, an equal one half of said note and security, and on the same day Murdock borrowed from Clarke and Cox the further sum of five thousand dollars, for which he gave them his promissory note for that amount, “with interest at the rate of one and a half per cent per month from date until paid.” At that time it was agreed between Murdock and the defendants that the defendants “should have and hold the possession and control” of *387 the said real estate, together with certain personal property, “until the said promissory notes, with…