(1) In case of non-compliance with the obligation, the mortgagee may propose to withhold or take control of the mortgaged property in order to fully or partially comply with the secured obligation. An offer shall be made before the person in accordance with sub-section (1). (3) If the mortgagee receives a written objection within twenty-one days from the date of sending such notice from the person who is entitled to receive notice of the offer in accordance with sub-section (2), he shall sell the mortgaged property in accordance with the provisions of this paragraph. (4) If the claim opposition is not received within the time limit as per sub-section (3), the mortgagee may withhold or take control of the mortgaged property in order to make the payment or fulfillment of the obligations of the mortgagor in accordance with the proposal as per sub-section (1).