96 Iowa 107 | Iowa | 1895
On the nineteenth day of July, 1892, the defendant G. F. Snyder executed to plaintiffs a promissory note for the sum of five hundred dollars, due one year after date, with interest at the rate of seven per cent, per annum. On the back of the note were the following indorsements: “See mortgage •securing this note and the covenants therein contained.” Yinton, Iowa, November 28, 1892. This note given to secure one hundred and fifty-one dollars and fifteen cents, and future purchases not to exceed five hundred dollars. I now owe Myers, Tice & Oo. two hundred sixteen and 35-100 dollars, now due, to date. G. F. Snyder.” “Received from sheriff, on sale of property, February 13, 1893, sixty-five. dollars and thirty-four cents.” At the time of executing this note, Snyder also executed a mortgage purporting to cover the following described property to-wit: “All the certain stock of cigars, tobacco, pipes, etc., including the entire stock of every name and nature, also all the fixtures of every name and nature, contained in the storeroom where said stock is located, said stock and fixtures being now located in the William® brick store building, south of the postoffice in Yinton, Benton county, Iowa. Mortgagor to have privilege of selling the goods in stock in the regular course of trade.” The mortgage also contained a provision that, “in case of non-payment of the note when due, then the said Myers, Tice & Co. shall have full power to enter upon the premises of the said G. F. Snyder, the party of the first part, or any other place or places where the goods and chattels aforesaid may be, to take possession of said property, to sell the same at public or private sale, and avails'