Ypsilanti sentinel. [volume] (Ypsilanti, Washtenaw Co., Mich.) 1843-1900, 1844-04-17
LAWS OF MICHIGAN
PASSED at the anual SESSION Of 1914
M An.

AN ACT to provide for the foreclo-
cure of mortgage;
Section l. Be it enacted by the Senate
and House Of Representatives OF the State
of Michigan. That every mortgage OF
real estate, containing therein power
of sale, upon default being made IN any
condition OF such mortgage, may be fore.
closed by advertisement. IN the case and
manner hereinafter specified: Provided,
that in all cases Of mortgages executed
since the thirteenth day of April, in the
wear ls41, the premises mortgaged shall
ne appraised and sci of in accordance
with the statutes in force at the time OF
their execution, unless otherwise provided
for i1. said mortgage.
Section 2nd.
To entiile any party TO give In notice
"a hereinafter prescribed, and 10 make
such foreclosures, it shall be requisite
FIRST. That default in a condition of such
mortgage shall have occurred. by which
the mower of sale beca me operative; aud,
Second: That no sui, or proceeding shall
have been insti,u ted a, law or in chancery.
70 recover the debt then remaining Sc
cured By such mortgage, or any part
thereof; or if any suit or proceeding has
hen instituted, tina. the same has been
discontinued, or that any execution upon
,ue Judgment rendered thereon, has been
e,.urued unsatisiied IN whole or 10 part.
Sec. 8. That nniice that such mort
rage will be foreclosed, and he noTtgaged
premises or some part OF them sold, shall
be given by publishing the same for twelve
successive weeks, oace IN eace week, IN
newspaper published ID the county III
which such premises, 10 be sold. or some
mart of them are situated and IT no news
paper be printed in such county, then
srca notices shall be published in some
newspaper published at the sea, OF gov
eminent of this safe.
Sec. 4. The sale shall be at public ven
due, between the hours of nine O'Clock
in the morning and the setting of the sun,
at the place of holding the Circuit Courl
within the County in which the premises
10 be sold are situated and The same shall
be made hv the person appointed for the
ournose in The mortgage, or By the sheriff.
the under sheriff, or The deputy sheriff
Of said County, to The highest bidder
therefor: and said sale may be postponed
from time 10 time, by inserting notice
thereof in The paper in which the original
notice appeared, as soon as practicable,
which shall be continued to the day OF
sale, at tue expense of the party request
ing such postponement.
Sec. 5. When any real estate offered
for sale by virtue of the provisions Of
this act. shall consist of several distinct
lots, tracts or paroles, such lois, tracts OIL
parcels shall be separately exposed ioi
sale and no more of any real estate
shall be exposed for sale, than shall ap
pear to be necessary 10 satisfy the mort
pape and in cases where mortgage
IS given payable in instruments and The
land morlsaged consists of single eighty
mere lot or larm, and it becomes necessary
10 sell for an iustallment other than the
last, parts or portion Of lots or farm may
be sud in form as nearly square as prac'
fIcable, in or as near as may te, the Mort!
east corner of the track Of which 1t is G
pari.
Sec. 6. That the officer or person
making the sale, shall, forthwith, make
an execute to tho purchaser. deed o.
the premises sold, specifying therein, as
the consideration Of such deed. the pre-
else amount for which the premises were
sold. and he shall endorse thereon the
time when the same shall become opera
tive in law, aud subscribe his name there
10. and deposit The same with The REGISTER
Of deeds Of tie proper county (; and un
less the premises shall be redeemed with
in two wears, then said register shall de-
liver said deeds to The purchaser; ant
such deed for the expiration OF The time
IN redeem, shall vest in The grantee IL
such deed, his heirs or assisnes, all the
right, lille and interest which The mort
pauor had at the time Of The mortgage, Of
at auv time there after /; but il SAID mort
oaoor. his heirs, executors, administrator:
or any person lawfully claiming from OF
under him or them, shall, within the time
aforesaid, redeem the said premises. by
paying to the purchaser, or TO MS execd'
tors. administrators or assigns, or 10 Inc
register of deeds where such deed IS DE-
posted, for the benefit of such purchaser