Bankers Trust Co. v. Cowhey

The bill was filed to foreclose two mortgages in the aggregate principal sum of $90,000 on which there was claimed and found to be due at time of decree, for principal, interest, and taxes and insurance paid, $131,989.52. From a decree for plaintiff, defendants have appealed.

The money was loaned and advanced from time to time to enable defendants to erect an apartment house. Both mortgages provided:

“The said mortgagors will, as long as the moneys secured hereby remain unpaid, keep all insurable property covered hereby insured against loss and damage by fire, with insurers and in amount and…