Krause v. Hartung

This is a suit to foreclose a second mortgage. It is now before the court on a motion made by three defendants to dismiss the bill against them on the ground that they are not proper parties.

Passaic Arms, then the owner of the premises, executed a first mortgage thereon to defendant Fidelity Union Trust Company, one of the moving parties, as trustee, to secure a bond issue of $215,000. This mortgage was duly recorded. The second mortgage sought to be foreclosed of which complainant is the owner is subordinate to this mortgage for it expressly recites that it is "subject and subordinate to a…