Federal Discount Corp. v. Rush

On September 1,1925, Grove P. Bush and Edna M. Bush, his wife, executed a mortgage for $75,000 to the Federal Discount Corporation on' property in the township of Nankin, Wayne county, Michigan, town 2 south,' range 9 east, which prop erty had been re-subdivided into over 500 lots and was known as Hawthorne Woods Subdivision No. 1. The indenture contained a partial release clause, providing for the release of any lot or lots upon payment to the mortgagee of the sum of $200 per lot, with the exception of a few 20-foot lots along the northerly line of the subdivision, which were to be released…