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Arrears of Principal and Interest may be enforced by Appointment of Receiver.
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XXVIII. And be it enacted, That it shall be lawful for the Mortgagees of the Council to enforce the Payment of the Arrears of Principal and Interest due on any such Mortgage of the Appointment of a Receiver; an in order to authorize the Appointment of such Receiver, in the event of the Principal Monies or Interest due on such Mortgages not being duly paid, the Amount owing to the Mortgagees by whom the Application for a Receiver shall be made shall not be less than Five thousand Pounds in the whole.
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