United States Life Insurance v. Ettinger

It appears affirmatively from the opposing affidavits, without denial by the applicant, that the taxes upon the mortgaged premises have been fully paid; that the interest upon the bond and mortgage in suit was met when last due; that the persons liable for the debt are solvent, and that the premises in question are adequate security. The plaintiff relies solely upon *379the covenant contained in the mortgage, which virtually mortgages the rents and profits of the premises and permits the appointment of a receiver without regard to the solvency of the mortgagees or the value of the mortgaged…