Rockwell

This is a suit by the Burlington Savings Bank of Burlington, Vt., to recover on a joint and several promissory note for $32,000, dated February 28, 1923, payable to its order six months after date, and executed by Thomas D. Perry, Janet B. Perry, E. W. Rising, and Irvin E. Rockwell, and to foreclose a lien on certain collateral pledged as security for the payment of the note. Mrs. Perry is not made a party to the suit.

The defendants Rising and Rockwell answered jointly and admit the execution of the note, the amoipt unpaid thereon, the pledge of the collateral, all as set out in the complaint, but allege in substance that the note was executed and delivered in pursuance of and as part of a contemporaneous agreement between the parties, by which the plaintiff stipulated and agreed that in the event of the execution of the note in suit by the makers thereof it would, as soon as it obtained title through foreclosure of mortgages held by it on the Wood river lands in Idaho, and other lands in which the joint interest of the plaintiff and the Blaine County National Bank-was involved, “escrow” such land as security for payment of the note in suit, subject to any interest which it…