First National Bank v. Bews

Citations

• 5 Idaho 678
• 51 P. 777
• 1897 Ida. LEXIS 73

Syllabus

<p>Pkomissoby Note — Mortgage—Pabol Evidence to Vary Teems of Contract. — Certain parties bolding a mortgage upon property upon wbicb there existed prior mortgages, entered into agreement with the mortgagors, which agreement was evidenced by two instruments in writing, one signed by the mortgagors, and the other by the mortgagees, bearing even date, that signed by the mortgagors containing a provision that said mortgagors did thereby turn over to the mortgagees the possession of the mortgaged premises upon the condition that said mortgagees should “apply all rents and profits in leasing or using it on actual expenses, taxes, insurance -and interest and principal of their mortgage note,” there being at the time some $8,000 of insurance on the property for the benefit of prior mortgagees. No mention of insurance was made in the instrument signed by the mortgagees. Held, that the statement in the instrument signed by the mortgagors was insufficient to charge the said mortgagees with a duty to keep said property insured for the sum of $25,000, their mortgage being for the sum of $10,000, and, further, held, that parol evidence was not permissible to establish such contract.</p> <p>I Syllabus by the court.)</p>