If a mortgage is given to secure the payment of money by installments, each of the installments mentioned in the mortgage must be taken and deemed to be a separate and independent mortgage, and the mortgage for each of the installments may be foreclosed in the same manner and with like effect as if a separate mortgage were given for each of the installments, and a redemption from any such sale has the same effect as if the sale for the installment had been made upon a prior independent mortgage.