Detroit Trust Co. v. Rivard

Appellant, Jason L. Honigman, is the holder of $19,000 face amount of bonds issued under a trust mortgage given in January, 1925, to the Security Trust Company as trustee. The Security Trust Company has been succeeded as trustee by the plaintiff, Detroit Trust Company. The mortgage covers property located at 2270 E. Jefferson avenue in Detroit. The building on the premises was constructed for use as an automobile salesroom and garage. There was issued under the trust mortgage $175,000 of 6 per cent, bonds, dated December 1, 1924. The interest was payable semiannually. There was default in…