Armour Fertilizer Works v. N. G. Wade Investment Co.

In foreclosure proceedings brought by N. G. Wade Investment Company, a corporation, against S. O. Gay and wife and Armour Fertilizer Works, a corporation, it appears that Gay and wife executed to N. G. Wade Investment Company a mortgage upon real estate to secure the payment of designated notes, the mortgage containing a covenant that the mortgagor “will keep the dwelling house and barn on said lands insured in some standard insurance company or companies, in the sum of $2,000.00 each, with loss payable clause to the said N. G. Wade Investment Company;” that the insurance was taken with loss…