Lembo v. Parks

This an action by a mortgagee to have a check for insurance proceeds which was issued to the mortgagors and the mortgagee jointly made payable to him exclusively. On November 21, 1972, the plaintiff deeded five parcels to the defendant mortgagors, Philip R. and Elda Jean Parks, and took back a mortgage secured by a promissory note for $47,000. The building on the fifth parcel was insured for $5,000 with the Attle-boro Mutual Fire Insurance Company (the defendant insurer) under a policy of insurance naming the defendant mortgagors as the insured and making the plaintiff, as mortgagee, the loss…