Smith v. Cushatt

Vermilion, J. —

The mortgage in question contained a provision as folloAvs:

“A failure to comply with any of the agreements hereof shall cause the whole debt at once to become due and collectible, at the option of the second party without notice, and said second party or assigns shall be entitled to have a receiver appointed to take immediate possession of said land, and to have the net profits thereof applied on said indebtedness until the same shall have been fully paid. Said taking- possession shall in no way retard collection or foreclosure.”

The debt secured by the mortgage became due,…