White v. Gracey

Citations

• 45 Fla. 657

Syllabus

<p>Upon a bill filed to foreclose a mortgage given to secure payment of a note due five years after date, with interest payable annually, containing a stipulation that if any part of the • interest stipulated to be paid by the note should remain due and unpaid for ........ days after maturity, the whole of the balance of the principal sum and interest thereby secured should become due and payable at the option cf the mortgagee, it was error to decree foreclosure for the principal sum where the bill filed before the expiration of the five years, alleged that several Installments of'interest remained due and unpaid, but failed1 to allege that the mortgagees had ever exercised the option to regard the principal sum due by reason of failure to pay the interest, and prayed only that the mortgage be foreclosed for the amount of interest due, with attorney's fees, and certain sums alleged to have been paid out by the mortgagees for taxes. , ></p>