§667-3  Proceeds, how applied.  Mortgage
creditors shall be entitled to payment according to the priority of their
liens, and not pro rata; and judgments of foreclosure shall operate to
extinguish the liens of subsequent mortgages of the same property, without
forcing prior mortgagees to their right of recovery.  The surplus after payment
of the mortgage foreclosed, shall be applied pro tanto to the next junior
mortgage, and so on to the payment, wholly or in part, of mortgages junior to
the one assessed. [CC 1859, §1233; RL 1925, §2889; RL 1935, §4722; RL 1945,
§12422; RL 1955, §336-3; HRS §667-3; am L 1972, c 90, §9(c)]



 



Rules of Court



 



  See HRCP rule 13.



 



Case Notes



 



  Mortgagee of recorded chattel mortgage taking possession of
unharvested rice crop has prior right over subsequent creditors.  9 H. 616.



  Tender must include attorney's fee in order to ward off
foreclosure when mortgage provides for attorney's fee.  21 H. 470; 29 H. 20.



  Under HRCP 54(b), court has discretion to leave adjudication
of junior lien status for later determination.  56 H. 587, 545 P.2d 1173.



  First mortgage lien should not have been terminated by
confirmation of sale unless first mortgagee's priority as to proceeds was
preserved.  67 H. 322, 687 P.2d 1333.



  See 33 H. 1; 35 H. 482.