CARROLL, CHAS., Chief Judge.
Appellant was the owner of certain improved real estate, subject to a mortgage held by the appellee in the amount of $106,500. The mortgage, made in 1953, provided for semi-annual payments of $1,500 principal, plus interest until 1963, when a balance of $78,000 was payable. Certain buildings on the property were destroyed by fire, and $18,000 fire insurance was paid on July 17, 1957. Under the mortgage the mortgagee was given the "option...
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