Central Trust Co. v. Wolf

Under a bill for foreclosure of a mortgage to it as trustee, and securing an issue of bonds, plaintiff filed petition for appointment of receiver. From the order of appointment, defendant Elias Wolf, mortgagor, has appealed. The mortgage was given May 19, 1925, and before the effective date of Act No. 228, Pub. Acts 1925 (3 Comp. Laws 1929, §§ 13498, 13499), authorizing assignment of rents and profits of property mortgaged to trustee as further security. The mortgage contains such assignment. In 1930, when the debt secured had been paid in part, an agreement was made between the parties…