Policies of fire insurance upon personal property frequently contain provisions for terminating such policy in case the property shall be incumbered by a chattel mortgage.1 Such provisions are, however, construed strictly.2 Such a condition is not broken by a chattel mortgage which has ceased to be a lien upon the property at the time of loss;3 nor is it broken by a bill of sale which is intended as collateral security, since it is not a chattel mortgage.4 However, a waiver of such provision in favor of mortgagees under a purchase money mortgage, does not operate as a waiver of a subsequent mortgage upon other property given to the same mortgagees.5