Michigan National Bank v. Martin

On November 18,1965, defendant Harry A. Martin executed and delivered to plaintiff two promissory notes in the amounts of $50,000 and $150,000, as evidence of a debt owed plaintiff. As collateral security, defendants Martin and his wife jointly executed three separate mortgages on real estate located in Kent and Benzie counties in the State of Michigan. Each mortgage instrument covered a single parcel of real estate, namely, defendants’ residence in Kent county, a leasehold interest on defendants’ cottage in Benzie county and a ski resort in Benzie county. Each mortgage recited that it…