Warrener v. Federal Land Bank of Louisville

Opinion op the Court by

Stanley, Commissioner

Reversing.

In the mortgage executed by E. B. Warrener to the Federal Land Bank of Louisville to secure an indebtedness for a loan of $10,800, be covenanted and agreed to keep the buildings insured in the sum of $6,300. The bank expressly reserved the right to take out the insurance itself for the purpose of protecting the parties if he should not do so, the policies to be delivered to it, and the premiums if not paid by the mortgagor to be charged as a lien on the land similar and to the same effect as the original loan. At the time the loan was made…