§ 58-74-35. When additional security required. - North Carolina Statutes

§58‑74‑35.  When additional security required.

If, from any cause, theproperty mortgaged in lieu of a bond becomes of less value than the amount ofthe bond in lieu of which the mortgage is given, and it so appears uponaffidavit of any person having any interest in the matter as a security forwhich the mortgage was given, it is the duty of the mortgagor to giveadditional security by a deposit of money, or the execution of a mortgage onmore property, or justify as required in cases where bond or undertaking isgiven. (1874‑5, c. 103, s. 5; Code, s. 119; Rev., s.271; C.S., s. 352.)