358. Liability of mortgagor for waste.

(7)     Liability for Waste

358.     Liability of mortgagor for waste.

The power of the mortgagor while in possession to exercise all the rights of ownership1 is subject to the limitation that he may not diminish the security so as to render it insufficient. Waste2 by a mortgagor in possession, for example by felling timber or pulling down a house, will be restrained by injunction3 on proof that the security is being made deficient4, or after order for foreclosure without such proof5.