When an application is made subject to an existing recorded mortgage, or to a recorded lease for a term exceeding one year, or when the registration is to be made subject to such a mortgage or lease executed after the time of the application and before the date of the transcription of the decree, the applicant shall, if required by the court, file a certified copy of the mortgage or lease, and shall cause the original, or, in the discretion of the court, a certified copy thereof, to be presented for registration before a decree of registration is entered.
HRS § 501-29