Section 24-405 - Rights of Mortgagee

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