Lambrecht v. Lee

On April 1,1930, the defendant Robert Sehomberger and Annie, his wife, executed a mortgage on certain real estate in the city of Detroit to Union Guardian Trust Company, as trustee, in the sum of $10,000, to secure the payment of 23 promissory notes of $400 each, payable monthly thereafter, and one for $800, payable April 1, 1932. This mort gage contained an assignment of the rents, income, and profits of said property, pursuant to the provisions of Act No. 228, Pub. Acts 1925 (3 Comp. Laws 1929, §§ 13498, 13499). It was made subject to a mortgage thereon to the Mutual Benefit Life Insurance…