Waste committed by the mortgagee which is not justified by the terms or the deficiency of his security, in addition to rendering him liable to an injunction, may be a ground for depriving him of possession, either by replacing the mortgagor in possession or by the appointment of a receiver1. Conversely, a mortgagee may restrain by injunction a mortgagor in possession from committing waste which would render the security insufficient2.
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