The Placer herald., 1857-07-18
AN ACT

rcatlOu 10 IcTSOHal mortgages III CSA euAh C"oCS,
passed May l1th, A. D. 1853
The People of the State of California, repre-
sented in Senate and assembly, do enact as
tollo,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 otherws' 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
terials; pOssessory claims the lands of the
State with the improvements thereon; quartz
claims with the machinery and buildings connect
ed Herewith; waterdtches fumes and aqueducts;
tunnels cuts, and other improvements in mining
claims; instruments, and chests of surgeon, ply
sican 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 mortgage,
their profession, trade occupation. the sum to
be secured, the rate of interest to be paid, when
and where payable, shall be 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 ched0 shall be record
ed in the county where the mortgager lives, and
also in the county where the property is located:
Prorded, that property in transitu, from the pos
session of the mortgagee to the county of the res
dence OF the mortgager. or to location for use,
shall, during reasonable time for snch transpor-
tation, be considered as located. 1t shall be the
duty of tn, County Recorders Of this State to
provide proper books of record and of index, in
which they shall make 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 mortgagee and mortgager in such
index books: The Recorders shall note the
mortgages and in the index books, the time, Gn
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 indexng
shall be the same are allowed him by ow 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 chattel mortgage shall be valid, Tex
cept between the parties thereto,) unless the same
shall have been made, executed. and recorded. in
conformity to the provisions of this Act: prOrided
however, If the mOrtgagee receives and retains
the actual possession of the property mortgaged,
he may omit the recording of his mortgage du-
ring the continuance of such actual possession
Sec. 4. right of redemption shall remain in
the mortgagcr. 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 as for
recording the orgna to be paid in advance 10y
the parties 20 the mortgage.
Sec. ). All property, mortgaged in pursuance
of the provisions of this Act he attached at
the suit OF the creditors of the mortgagcr or mort
tagee. When attached at the suit of the creditor
of the mortgager, such creditor shall pay. or ten
der to the mort gagee. the actual amount due him
Oh such mortgage, before the officer making such
attachment 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.
out 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 appertaining
TO the Judgment execution and sale: Third. Pay
the Judgment creditor the amount Of the iudg-
mcnt, and any remaining surplus pay to the iudg
mentn ebtor. If the creditor OF the morteagcr
prefers, he may cause to be attached the right OF
redemption Of said mortgager, and cause the same
to be sold. subj cct to the rights of the mort gagee
Such attachment shall be made. by lcavinga copy
of the writ of attachment, with notice of the at
tachment. with the mortgage. When sale OF
such equity is made 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
jud gment debtor. When the interest of the mort
gagee shall be attached copy Of the writ of at
| tachmcnt shall be left with the mortgager. with
notice of the attachment; 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 morgager may
pay the amount due on said mortgage to the Off
Ger who made the attachment, and thereupon said
officer shall release said attachment, and hold the
money paid him in the same manner as if he
had originally attached said money.
Sec. 6. This act shall not be so construed as 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; prorided, that such compensation
shall in case exceed the amount realized from
the claim by foreclosure and sale.
Sec. 7. She mortgage 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
mortgager,
Sec. 8. Mortgages may be made on all kinds of
water-craft of five tons burthen or upwards, Gus
tom House measurement whether propelled in
whole or in part by steam or wind; provided, that
the requirements of the preceding sections are
complied with; and prorided 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.