Where there is a series of notes or installment payments secured by a deed of trust, mortgage or other lien, and a provision is inserted in such instrument to secure them to the effect that upon a failure to pay any one (1) note or installment, or the interest thereon, or any part thereof, or for failure to pay taxes or insurance premiums on the property described in such instrument and the subject of such lien, that all the debt secured thereby should become due and collectible, and for any such reason the entire indebtedness shall have been put in default or declared due, the debtor, or any interested party, may at any time before a sale be made under the terms and provisions of such instrument, or by virtue of such lien, stop a threatened sale under the powers contained in such instrument or stop any proceeding in any court to enforce such lien by paying the amount of the note or installment then due or past due by its terms, with all accrued costs, attorneys' fees and trustees' fees on the amount actually past due by the terms of such instrument or lien, rather than the amount accelerated, and such taxes or insurance premiums due and not paid, with proper interest thereon, if such should have been paid by any interested party to such instrument. Any such payment or payments shall reinstate, according to the terms of such instrument, the amount so accelerated, the same as if such amount not due by its terms had not been accelerated or put in default.
Structure Mississippi Code
Title 89 - Real and Personal Property
Chapter 1 - Land and Conveyances
§ 89-1-1. Land conveyed to vest immediately or in future
§ 89-1-3. Land to be conveyed only by writing
§ 89-1-5. Words of inheritance not necessary
§ 89-1-7. Estate in two or more persons
§ 89-1-9. The rule in Shelley's Case abolished
§ 89-1-11. Remainder good without particular estate
§ 89-1-13. Limitation on failure of issue
§ 89-1-15. Estates in fee tail prohibited
§ 89-1-17. Alienation good for grantor's interest; remainder not affected
§ 89-1-19. Right of entry not tolled by death of disseizor
§ 89-1-21. How body politic, public or private corporation may convey land
§ 89-1-23. Aliens holding land
§ 89-1-27. Conveyances by masters, commissioners, sheriffs or other officers
§ 89-1-33. Effect of word "warrant" in conveyance
§ 89-1-35. Effect of words "warrant specially."
§ 89-1-37. Effect of a conveyance without warranty
§ 89-1-39. Effect of quitclaim and release
§ 89-1-41. Effect of words "grant, bargain, sell."
§ 89-1-43. Mortgages and trust estates; trust estates subject to execution
§ 89-1-45. Mortgage for purchase money of land
§ 89-1-47. Deed not shown to be mortgage by parol evidence
§ 89-1-51. Trustee may acknowledge satisfaction
§ 89-1-55. How lands sold under mortgages and deeds in trust
§ 89-1-57. Deed of trust or mortgage; how sale made when terms not specified
§ 89-1-59. Accelerated debt may be reinstated by payment of all default before sale
§ 89-1-61. Forms for conveyances
§ 89-1-65. Sheriff's conveyance
§ 89-1-67. Conveyance by administrator, executor, guardian, master, or commissioner