1. (1) Make the mortgagee a mortgagee in possession of the real property;
2. (2) Make the mortgagee an agent of the owner;
3. (3) Constitute an election of remedies that precludes a later action to enforce the secured obligation;
4. (4) Make the secured obligation unenforceable; or
5. (5) Limit any right available to the mortgagee with respect to the secured obligation.

A request by a mortgagee for the appointment of a receiver, the appointment of a receiver, or the application by a mortgagee of receivership property or proceeds to the secured obligation does not:

Added by Acts 2019, c. 284, § 1, eff. Oct. 1, 2019.