Equitable Life Insurance v. Read

— Henry Read was the owner of the 200-acre farm which is involved in this controversy. On April 6, 1928, he secured a loan from the Equitable Life Insurance Company and secured the same by a mortgage, signed by him and his wife!' This mortgage was filed of record on the 14th day of April, 1928.

On the 12th day-of April, 1928, Read and his wife executed a second mortgage on said real estate to secure a note in the principal sum of $6,000 to one L. E. Oviatt.

On the 24th day of July, 1931, Oviatt commenced a foreclosure of his mortgage and asked the appointment of a receiver.' On'August 13, 1931,…