A mortgagee who claims the mortgage secures debts that it does not on its true construction include may lose its entitlement to add costs of the proceedings to the amount secured by the mortgage. Costs incurred in making such a claim are not necessarily incurred 'in the capacity of a mortgagee' for the purposes of Pt 52A r 42. Where a mortgage is expressed to secure 'money owing' and 'money payable', those words refer to amounts actually owing and payable, not amounts payable on some future contingency, and specific provisions in a mortgage annexure prevail over general all-moneys provisions in a standard memorandum.
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