Holly purchased a home in Manitoba. The home was mortgaged for $225,000. She lost her job and missed three mortgage payments. The bank decided to exercise its rights under the mortgage. What can it do?

• Invoke the default notice clause then the acceleration clause and then obtain an order for foreclosure.

The previous question was a multiple choice question. Explain why you chose your answer in the previous question. Define and explain any legal concepts or principles you relied on.