Consider 2 friends A and B. A mortgages his property to B.
Please remember that A mortgages more
than 2 properties to B. Lets call these properties - Villa and bungalow (for instance). A mortgages Villa and Bungalow to B and then proceeds to mortgage Villa to C. C here is entitled to have the prior mortgage-debt satisfied out of the property or properties not mortgaged to him without prejudicing the right of B.