A mortgagor in possession of the mortgaged
property is not liable to the mortgagee for allowing the property to deteriorate; but he must not
commit any act which is destructive or permanently injurious thereto, if the security is
insufficient or will be rendered insufficient by such act.
Explanation.-- A security is insufficient within the meaning of this section unless the value of the mortgaged property exceeds by one-third, or, if consisting of buildings, exceeds by one-half, the amount for the time being due on the mortgage.
Explanation.-- A security is insufficient within the meaning of this section unless the value of the mortgaged property exceeds by one-third, or, if consisting of buildings, exceeds by one-half, the amount for the time being due on the mortgage.