Metropolitan Life Insurance v. Smith

— In February, 1926, H. E. Smith and others, executed a mortgage securing $29,000, to George A. Rich, who, during the same month, transferred the mortgage to the plaintiff herein. The mortgage was duly recorded in Hancock county, Iowa, and also indexed as a chattel mortgage therein on February 27, 1926.

The mortgage pledged the rents and profits for the paymenl of the amount due under the mortgage, and provided for the appointment of a receiver to take possession of the property and collect the rents and profits and distribute the same under order of court.

Thereafter the mortgagor executed a…