48. Mortgage
 
    1. "(W)hen property subject to a mortgage or deed of trust is taken in eminent domain proceedings, the condemnation award becomes a substitute for the property, and the mortgagee or beneficiary has an equitable lien on the award. (cite) The secured party, however, is only entitled to that portion of the condemnation award necessary to satisfy his lien."  Halfon v. Title Ins. & Trust Co., 97 Nev. 421, 423, 424, 634 P.2d 660 (1981) (#65)
 
    2. Mortgage/Assignment of Award: "Despite a clause...purporting to assign an entire condemnation award to a mortgagee or beneficiary of a deed of trust, the effectiveness of such a contract term is limited by the legal and equitable interest of the mortgagee or beneficiary in the award." "The effectiveness of such a clause is limited to the extent to which a mortgagee or beneficiary can demonstrate that its security has actually been impaired."  First Western v. Vegas Continental, 100 Nev. 710, 712, 692 P.2d 1279 (1984) (#69)
 
    3. Mortgage/Assignment of Award: Where a taking in eminent domain reduces the value of the property, the holder of a trust deed (securing a debt) is entitled to a part of the compensation award that will maintain the same ratio or margin (value of property to the amount of the secured debt). Id. (#69)