170. Accretions and substitutions.

170.     Accretions and substitutions.

The mortgagee is entitled to accretions to the mortgaged property or property received in substitution for it by the mortgagor1. Similarly, additions made by a second mortgagee enure to the benefit of the first mortgagee2. If the mortgaged property is disposed of in a manner which destroys the mortgagee's estate3, a security interest automatically arises in the proceeds of sale in favour of the mortgagee4. In the case of renewable leaseholds, if either the mortgagor or mortgagee is able to obtain a renewal of the lease, the renewed lease is treated as engrafted