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FIRST FEDERAL SAV. & LOAN v. DRAKE

No. 88-288.

766 S.W.2d 617 (1989)

298 Ark. 287

FIRST FEDERAL SAVINGS & LOAN ASSOCIATION OF PARAGOULD, Appellant, v. David K. DRAKE, Bettye J. Drake, Bob Berry and Karin Berry, Appellees.

Supreme Court of Arkansas.

March 20, 1989.

Attorney(s) appearing for the Case

Michael E. Todd, Paragould, for appellant.

David L. Osmon, Mountain Home, for appellees.

HAYS, Justice.

On March 18, 1986, the appellees, David K. Drake, Bettye J. Drake, Bob Berry, and Karin Berry executed a real estate mortgage to the appellant, First Federal Savings & Loan Association of Paragould. This mortgage was filed on July 31, 1986, in the Mortgage Records of Greene County, Arkansas. Paragraph 2(h)(7) of this mortgage provided that the maturity of the principal indebtedness which the mortgage secured could be accelerated by the appellant...

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