Oklahoma § 70-634 - Default - Foreclosure - Receivership

§ 70-634. Default - Foreclosure - Receivership

In case of default in the payment of interest due upon any loan

made by the Commissioners of the Land Office or upon the failure of

the mortgagor, or his assigns, to comply with any of the terms or

conditions of any mortgage as therein provided, it shall be the duty

of any court of competent jurisdiction in action to foreclose such

mortgage upon the application of the Commissioners and a showing of

default or breach of any of the terms of said mortgage to appoint a

receiver to take charge of the real estate covered by said mortgage

which said receiver shall be authorized and empowered to take full

charge of said real estate pending the final determination of said

action, and the occupant of said premises, whether he be the fee

owner of said real estate or otherwise, shall surrender possession

of said real estate to the said receiver or secure a lease on said

premises from the said receiver and shall account to said receiver

for all rents arising from said real estate, and the court wherein

said action is pending shall have authority to enforce the

provisions hereof by ordering the removal of the occupant of the

premises involved in any action, in case said occupant should fail

to comply with the provisions hereof.

Laws 1919, c. 194, p. 273, § 10; Laws 1933, c. 91, p. 166, § 10.