According to the contract entered into between R (mortgagor) and E (mortgagee), the obligation of R was to pay the debt in yearly installment on a fixed day of each year, until it has been fully satisfied but in case of non-fulfillment of any of the stipulations and conditions of the mortgage, such as the failure to pay the annual installments, E could declare the said stipulations and conditions violated and proceed to the foreclosure of the mortgage in accordance with law. What is the effect of the non-fulfillment of the conditions of the contract? Explain your answer