Union Guardian Trust Co. v. Rau

On August 16, 1928, the defendant Litta W. Eau executed a promissory note, payable to the plaintiff, in the sum of $100,000, secured by a mortgage on certain real estate in the city of Detroit. Default having occurred in the payment of a part of the principal and of interest and taxes, this bill was filed for the foreclosure of the mortgage. It contained a provision under which the mortgagee in case of default was entitled—

“to the appointment by any competent court or tribunal, without notice to any party, of a receiver of the rents, issues and profits of the said premises with power to lease…