Mortgage contracts give the lender the right to be paid from the cash proceeds of the sale of a borrower's assets identified in the mortgage if the borrower fails to make the required payments.

Name: Mortgage contracts give the lender the right to be paid from the cash proceeds of the sale of a borrower's assets identified in the mortgage if the borrower fails to make the required payments.
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This is a common provision in mortgage contracts and is known as a "mortgage lien."

Mortgage Contracts Give the Lender the Right to Be Paid