Title & Trust Co. v. Security Buildings Corp.

This is a suit to foreclose a mortgage which was executed by appellant as the basis of an issue of $350,000 bonds secured by a property in the City of Portland known as the Security Building; the mortgage, which was in the form of a trust deed, dated July 19, 1924, named the plaintiff as trustee, and made provision that the defendant-appellant, Security Buildings Corporation, should execute a lease for the term of ten years to the Security Storage & Transfer Company, another corporation; it provided that the monthly installments of rent should he paid to the plaintiff and should he employed…