Eiffel Realty & Investment Co. v. Ohio Citizens Trust Co.

OPINION

By CARPENTER, J.

In 1922 plaintiff, The Eiffel Realty & Investment Company, as lessor, and defendant, The Pantheon Theatre Company, as lessee, entered into a ninety-nine year lease. Among other things the theatre company agreed to pay a monthly rental and the taxes on the leased premises. Later the theatre company mortgaged its leasehold estate, as it had a right to do, to The Ohio Savings Bank & Trust Company as trustees for bondholders. It has been succeeded by the defendant, The Ohio Citizens Trust Company as such trustee.

Some time prior to 1932, the lessee failed to make punctual…