Where the proviso is for reduction of interest on punctual payment1, a mortgagee in possession may charge the mortgagor with the higher rate even though he receives rent more than sufficient to pay the interest, and even though no interest was in arrear at the time of his taking possession2. The receipt of rents by the mortgagee is not a payment by the mortgagor or by anyone on his behalf. The mortgagee receives rents which are his own, subject to the right of redemption
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