132. A mortgage may be discharged:
(a) By performance (p. 227).
(b) By merger (p. 231).
(c) By redemption (p. 233).
133. Performance of the condition in the defeasance discharges a mortgage. Performance may be:
(1) On the day named in the defeasance.
(2) Before the day named, if accepted by the mortgagee.
(3) After the day named, if accepted by the mortgagee.