194. Payment of interest after repayment date.

It is usual to insert in the mortgage a covenant for payment of the interest: this enables the interest to be sued for apart from the principal, although a separate covenant is not absolutely necessary for this purpose1.

If the mortgage makes provision for payment of the principal on a day certain, with interest at a fixed rate down to that day, there is no implied contract for the continuance of interest at the same rate or at any rate at all after that day; but a stipulation in the mortgage that the mortgagor will not transfer the property until