What is the ruling when one of two mortgaged items perishes before the mortgagee takes possession of either item?

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If one of two mortgaged items perishes before the mortgagee takes possession of either, the mortgage contract is void regarding that perished item only, while remaining valid for the other item. This is because the contract was valid for both items initially, and the annulment only affected one. The mortgagor has the option to deliver the remaining item or withhold it entirely.