In addition to any other debt or obligation, a mortgage may secure unpaid balances of advances made, with respect to the mortgaged premises, for the payment of taxes, assessments, insurance premiums, or costs incurred for the protection of the mortgaged premises, if such mortgage states that it shall secure such unpaid balances. A mortgage complying with this section is a lien on the premises described therein from the time such mortgage is delivered to the recorder for record for the full amount of the unpaid balances of such advances that are made under such mortgage, plus interest thereon, regardless of the time when such advances are made.
Effective Date: 03-18-1969
Section: Previous 5301.19 5301.20 5301.21 5301.22 5301.23 5301.231 5301.232 5301.233 5301.234 5301.24 5301.25 5301.251 5301.252 5301.253 5301.254 NextLast modified: October 10, 2016