322. Bonus payable to the mortgagee.

322.     Bonus payable to the mortgagee.

The validity of a provision in a mortgage for a bonus or premium or other such sum must be determined in the same way as any other collateral benefit1. A contract for payment to the mortgagee of a bonus in addition to the sum advanced is not inherently objectionable2. A valid bonus can be claimed by a mortgagee either in taking account of what is due on his mortgage or under the head of just allowances3. Examples of loans with a bonus are debentures issued at a