Connelly v. Usko Holding Corp.

This is an action to foreclose a mortgage for $9,000. The defendant fire insurance company has interposed a counterclaim alleging that it issued a policy of fire insurance insuring the premises covered by the mortgage and that the policy was in standard form containing the usual standard mortgagee clause which provides: “ This insurance as to the interest of the mortgagee (or trustee) only therein, shall not be invalidated by any act or neglect of the mortgagor or owner of the within described property, * * * Whenever this company shall pay the mortgagee (or trustee) any sum for loss or…