The Placer herald., 1857-06-27
AN ACT

sented IN Senate and ASSEMBLY, do enact as
toAo,cs:
Section /. Section first of said Act is amended
so as to read as follows: "Section first. Chattel
mortgages may be made on the following proper
ty, to secure the payment Of just Indebtedness:
Upholstery and furniture used in hotels and pub
lie boarding houses when mortgaged to secure
the purchase money of the identical articles mort
gagged. and not otherwis; mining claims, saw
mill grist mill and steamboat machinery; tools
and machinery used by machinists foundrymen
and other mechanics; steamboat boilers, steam
engines, printing presses and other printing ma
terals; possessory claims on the lands OF the
State, with the improvements thereon; quartz
claims with the machinery and buildings connect
ed Herewith; water-ditches fumes and aqueducts;
tunnels cuts and other improvements in mining
claims; instruments, and chests of a surgeon phy-
scian or dentist, with their professional library,
and libraries of all other persons; stock in any
incorporated company. No mortgage made by
virtue of this Act shall have any legal force or
effect Except between the parties thereto) unless
the residence Of the mortgager and mortgagee,
their profession trade occupation. the sum to
be secured, the rate of interest to be paid, when
and where payable shall he set out in the mort
gage, and the mortgager and mortgagee shall
make affidavit that the mortgage is bona tide, and
made without any design to defraud or delay
creditors; which affidavit shall be attached 10 such
mortgage.
| Sec 2 All mortgages made in pursuance Of this
Act with the affidavit att chedD shall be record
ed in the county where the mortgager lives, and
also in the county where the property is located:
Pro0ided that property in transitu, from the pos
session Of the mortgagee to the county OF the res
idence Of the morgager, or to a location for use,
shall, during a reasonable time for such transpor-
taton, be considered as located. 1t shall be the
duty of thu County Recorders of this State to
provide proper books OF record and Of index, in
which they shall make a true copy or record OF
all mortgages made in pursuance OF the proVis-
ions of this Act, and left with them for record,
and they shall enter in alphabetical order, the
| names of the mortgage and mOrtgager in such
index books The Recorders shall note on the
mortgages and in the index books, the time (in
| like manner as mortgages on real estate) when
the same was received into the Office for record,
and the recording shall take effect from that time:
| The Recorders fees for recording and indeXing
shall be the same are allowed him by law for
! like services for recording deeds of real estate to
be paid in advance, by the person presenting the
same for record.
Sec. 3. No chattc mortgage shall be valid (eX-
cept between the parties thereto) unless the same
| shall have been made. executed and recorded. III
conformity TO the provisions of this Act: pr0Uided
boweUer. If the mortgage receives and retains
| the actual possession of the property mortgaged,
he may omit the recording Of bis mortgage du-
ring the continuance Of such actual possession.
Sec. 4. right Of redemption shall remain in
the mortgager, until the same shall have been
foreclosed by due process Of law, or by agreement
between the parties to the mortgage, which agree
ment shall be entered on the record of the mort
age. and for the entering Of which the Recorder
| shall be entitled to the same rate of fees for
recording the original to be paid in advance by
! the parties to the mortgage.
Sec. 5. All property, mort gagged in pursuance
of the provisions Of this Act, may be attached at
! the suit OF the creditors OF the mort Eager mort
| gagee. When attached at the suite he creditor
| of the mortgager, such creditor shall pay, ten
der to the mortgagec. the actual amount due him
on such mortgage. before the officer making such
attachments shall be entitled to the actual posses
sion Of such property When property thus sit
uated, and thus redeemed, shall have been sold
by the officer by virtue Of due legal proceedings,
ont of the proceeds Of the sale he shall First
| Pay to the creditor the amount advanced by hin
| to pay the mortgagee with legal interest thereon
Second, Pay all legal costs and fees appertajning
| to the Judgment. execution and sale; Third, Pay
! the Judgment creditor the amount Of the iudg-
ment. ard any remaining surplus pay to the iudg
mcnt Debtor II the creditor OF the mort eager
prefers, he may cause to be attached the right OF
redemption OF said mortgagcr and cause the same
to be sold, subject to the rights Of the m0rtgagec
Such attachment shall be made by leavnSa copy
of the writ Of attachment. with notice Of the at
| tachment, with the mortgagec. When sale Of
such equity is made on an execution obtained by
such attaching creditor, the sum realized shall be
| applied to the payment of costs. fees, discharge
/ of the execution. and any remainder paid to the
! j
| gagee shall be attached, copy Of the writ Of at
tachment shall be left with the m0rtgager with
notice Of the attachments and any payment made
| by him to the mOrtgagee after such notice. shall
not release the attachment or affect the rights of
| the attaching creditor; but said mortgager may
pay the amount due on said mortgage to the Off
! Ger who made the attachment. and hcreupon said
officer shall release said attachment aud hold the
money so paid him in the same manner as if he
had originally attached said money
l,iu ~ ,,ll bf. ,aI TO
interfere or conflict with the lawful mining rules,
regulations or customs in regard to the locating,
holding, or forfeiture of claims but all cases of
mortgages Of mining interests under this Act, the
mortgagee shall have the right to perform the
same acts that the mortgager might have per-
formed for the purpose of preventing forfeiture
of the same under the said rules regulations or
customs Of mines, and shall be allowed such com
pensation therefor as shall be deemed just and
equitable by the Court ordering the sale upon
| foreclosure; pr0oided, that such compensation
| shall in no case exceed the amount realized from
| the claim by foreclosure and sale.
Sec. 7. She mOrtgagee in all mortgages made
under this Act, shall be allowed one day for every
twenty miles Of the distance between his residence
and the County Recorders office, where such
mortgage ought by law to be recorded to conform
to the provisions of this Act, before any attach
ment shall be valid made by the creditors of the
m0rtgager.
Sec. s. Mortgages may be made on all kinds of
water-cratt Of five tons burthen or upwards, Gus
| tom House measurement, whether propelled in
whole or in part by steam, or wind; procided that
the requirements Of the preceding sections are
complied with; and py0Dided further, that an en-
dorsement shall be made on the Custom House
register or enrolment Of such vessel. showing the
| amount for which the same is mortgaged and the
place, book, and page where the same is recorded;
and provided also, that this section shall not be
construed to effect or impair in any way whatever,
maritime liens.
| Approved April 29th 1857
AN ACT