81 Fla. 415 | Fla. | 1921
This is a suit brought to foreclose a mortgage on real estate. The bill is in the usual form with the note evidencing the indebtedness and the mortgage
The second amended answer of the mortgagors sets up as a defense to the suit an alleged agreement between them and the mortgagee, entered into before the maturity of the note, by the terms of which the mortgagee extended the time for the payment of the indebtedness, and it is averred in substance that the suit was instituted before the expiration of the extended time, for which reason it is said appellant is estopped from enforcing payment of the indebtedness by foreclosure until the expiration of such period and therefore the foreclosure suit was prematurely instituted.
The paragraph of the answer setting up this defense is as follows: ‘ ‘ This defendant alleges that during the month of May, 1915, he became and was insolvent, that he owned certain real properties, among which was the property the subject matter of this suit; that there existed certain tax liens unpaid on said mortgage premises and that said premises had not sufficient value to satisfy the mortgage lien'of the complainant together with prior tax lien and costs of court and that complainant could not satisfy any deficiency decree by reason of the insolvency of this defendant; that this defendant under the laws of the State of Florida was entitled to occupy one of his said properties and. claim the same in a bankruptcy proceeding and thereby the same would be exempt from judgment and sale by a Trustee in Bankruptcy on the claim of any judgment or unsecured creditor, all of which was known to the complainant, and the complainant made a certain verbal agreement with defendant whereby it was alleged that if defendant would arrange and pay tax. liens then due on said property, claim the same in bankruptcy
Exceptions were taken to this paragraph of the answer upon the ground that it does not set up facts sufficient to bar the suit' and that it attempts to modify by parol agreement before a breach thereof a contract under seal. Upon a hearing the exceptions were overruled and the appeal is from this order.
In American Securities Co. v. Goldsberry, 69 Fla. 104, 67 South. Rep. 862, in considering 'the question of the validity of an agreement between the parties to a mort
Upon the authority of this holding the paragraph of the answer excepted to set up facts, which, is proved, would be a valid defense to the suit until the expiration of the period of time stated, and there was therefore no error in overruling the exception.
The suit was brought upon the theory that the indebtedness secured by the mortgage' was past due and defendant had defaulted in its payment. Whether a covenant contained in a mortgage to keep the buildings or improvements or other property on the mortgaged premises insured may be modified or waived by a subsequent parol agreement is not presented by this record and is therefore not decided.
The order appealed from is affirmed.
Browne, O. J., and Taylor, Whitfield and Ellis, J. J., concur.