York-Ritchie Exchange & Investment Co. v. Mitchell

Mahan. P. J.

There are two questions presented in this case. The first is, Was the plaintiff’s action upon its note and mortgage barred by the Statute of Limitations ? This contention is based upon a condition in the mortgage which is in substance that, *318whether the holder elect to pay the taxes and insurance premiums upon the mortgagor’s default or not; it was distinctly understood that the legal holder might cause the mortgage to be foreclosed, and should be entitled to the immediate possession of the premises and the rents and profits thereof. This is but one condition. It does not provide…