Lincoln Joint Stock Land Bank v. Barlow

L. M. Barlow and wife, owners of the real estate in question, in 1924 executed a note and mortgage to plaintiff in the sum of $17,000. The mortgage was duly recorded as a real estate and chattel mortgage in Hancock county, Iowa, where the land was situated. The mortgage also provided as follows: “It is further agreed that the rents and profits of said real estate are hereby pledged as security for the payment of said debt; and that in case of foreclosure, * * * the holder of the same shall be entitled to have a receiver appointed to take possession of said property pending foreclosure, sale…