New Jersey National Bank & Trust Co. v. Morris

Bigelow, V. C.

This is a foreclosure suit. The complainants move for the appointment of a receiver to collect rents pendente lite. They do not allege that their security is inadequate or that their obligor is insolvent, but they rely exclusively upon a *445danse in the mortgage whereby the rents and profits oí the mortgaged premises were assigned to the mortgagee in the event of default in the performance of any of the covenants contained in the bond. There has been default in the performance of some of the covenants and by reason thereof complainants claim that the assignment has become absolute.…