180. Mortgage of mines.

180.     Mortgage of mines.

Mortgages of mineral property generally contain provisions similar to those inserted in mortgages of other descriptions of property of the like tenure1. However, owing to the wasting nature of the property, it is usual to provide for the repayment by instalments of the sum advanced2, or by the creation of a sinking fund3. It is also desirable to provide that, in case of default, the mortgagee may enter upon the property and work the mine and make all proper expenditure for that purpose4.