Sage v. Mendelson

Motion for-a receiver of rents pendente lite. The bond and mortgage contain a clause pledging and assigning the rents and profits in the event of default. Fo interest, except a small sum, and no taxes have been paid for several years. In Ross v. Vernam, 6 App. Div. 247, the court say: “In the absence of a clause in the mortgage pledging the rents and profits of the premises as security for the mortgage debt, the mortgagor is entitled thereto before a sale of the premises is had, and such right can only be defeated by showing that the mortgaged property is an inadequate security for the…