Paine v. McElroy

Tbe plaintiff commenced an action to foreclose a mortgage on real estate. Tbe mortgage, among other things, provides as follows: “It is agreed that, in case of default in any respect, so that this mortgage can be foreclosed, the rents and profits of said premises, as well before as after tbe sale on execution, are pledged to tbe payment of the moneys secured thereby, and that, on tbe commencement of an action to foreclose this mortgage, the .plaintiff shall be entitled to the appointment of a receiver, with the usual *82powers, to take and hold the rents and profits for the benefit of the…