Hawkeye Securities Fire Insurance v. Central Trust Co.

Plaintiff’s sole complaint is of the refusal to enter personal judgment against the Central Trust Company upon an instrument which, after reciting the sale of the mortgage sued upon to plaintiff, provides:

“We agree with the Iiawkeye Securities Fire Insurance Company to look after the collection of all interest on this loan, remitting the same to your company without charges, and generally look after the loan, the same as if our own. We further agree that we will repurchase this loan for face plus accrued interest in event of the interest becoming delinquent or the .principal not being paid…