Equitable Life Insurance v. Leaven

Stevens, J. —

The mortgage sought to be foreclosed was executed March 7, 1924, by the appellees John W. and Mayme Leaven, husband and wife, to the appellee Equitable Life Insurance Co., to secure the payment of a promissory note for the sum of $15,000. The petition was filed January 27th, 1931. It is alleged therein that the rents, issues and profits from the real estate are pledged to the mortgagee as security for the debt and also that the mortgage provides for the appointment of a receiver upon the commencement of an action to foreclose the same. Decree of foreclosure, in which a receiver…