If, as a result of the deterioration of the plot of land, the security of the mortgage is endangered, then the creditor may set a reasonable time limit for the owner to remove the danger. After the expiry of the time limit, the creditor is entitled to seek satisfaction from the plot of land immediately if the danger has not been removed by the improvement of the plot of land or by the creation of another mortgage. If the claim is interest-free, and is not yet due, the creditor is entitled only to the amount which, when the statutory interest for the period from payment until due date is added to it, equals the amount of the claim.
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Book 3 · Law of property › Title 1 · Mortgage › Section 1133
Danger to the security of the mortgage
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