Construction of mortgage
Sec. 2. A mortgage may not be construed to imply a covenant for
the payment of the sum intended to be secured by the mortgage so as
to enable the mortgagee or the mortgagee's assignees or
representatives to maintain an action for the recovery of this sum. If
an express covenant is not contained in the mortgage for the payment
and a bond or other separate instrument to secure the payment has
not been given, the remedy of the mortgagee is confined to the real
property described in the mortgage.
As added by P.L.2-2002, SEC.14.
Last modified: May 24, 2006