The Placer herald., 1857-07-11
AN ACT

passed May l1th, A. D. 1858.
The People Of the State Of California, repre-
sented in Senate and .Assem6iy, do enact as
.folloscs:
Section l. 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 otherwise 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 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 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 or 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 mortgage shall
make affidavit that the mortgage is bona fde, and
made without any design to defraud or delay
creditors; which affidavit shall be attached 10 such
mortgage.
Act with the affidavit att; ched) shall be record
ed in the county where the mortgager lives, and
also in the county where the property is located
Provided that property in transitu, from the pos
session of the mortgage to the county of the res
idence of the mortgager. or to a location for use
SHALL during reasonable time for such transpor-
tation, be considered as located. 1t shall be the
duty of the 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 mortgage and mortgager in such
index books: The Recorders shall note on 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 indexing
shall be the same as 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 chattel mortgage shall be valid, lex
cept between the parties thereto) unless the same
shall have been made, executed. and recorded. IN
conformity to the provisions of this Act; prOuided
however, If the mortgage 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. A 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 as for
recording the original, to be paid in advance by
the parties to the mortgage
Sec. 5. All property. mortgaged in pursuance
ho ci of Act MAY hp at arbn lat
the suit of the creditors of the mortgager mort
gagee. When attached at the suit of the creditor
of the mortgager such creditor shall pay. or ten
der to the mortgage. the actual amount due him
on 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 him
to pay the MORTGAGE, 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
ment, and any remaining surplus pay to the iudg-
ment debtor. If the creditor OF the mOrtgager
prefers. he may eau Sc to be attached the right of
redemption Of said mortgager, and cause the same
to be sold, subject to the rights of the mortgagee
Such attachment shall be made by leaving copy
of the writ of attachment, with notice of the at
tachment with the mortgagee. When sale Of
such equity is made on an execution obtained by
such attaching creditor, the realized shall be
applied to the payment Of costs. fees, discharge
of the execution and any remainder paid to the
judgment debtor. When the interest of the mort
gagee shall be attached, copy of the writ of at
tachment shall be left with the mortgager. with
notice of the attachment and any payment made
by him to the mortgage after such notice. shall
not release the attachment or affect the rights of
the attaching creditor; but said mortgager may
| ~ ooQ,
Ger who made the attachment and thereupon said
officer shall release said attachment and hold the
money so paid him in the same manner as if he
had originally attached said money.
Sec &. This act shall not be so construed as to
interfere 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
mortgage 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 shall be deemed just and
equitable by the Court ordering the sale upon a
foreclosure; provided that such compensation
shall in no 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; prorided, 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.