Torrey v. Blair

The only essential inquiry herein is whether the release clause contained in complainants' mortgage enables three defendants, each of whom has filed mechanics' liens for labor or materials supplied to a building on certain lots embraced in the mortgage, to discharge the mortgage lien on such lots by paying to the mortgagees the stipulated release money.

The release clause contained in complainants' mortgage is as follows:

"And it is hereby stipulated and agreed by the parties to these presents that any lot above mentioned shall be released by the mortgagees herein named to the mortgagor upon…