North Iowa times. [volume] (McGregor, Iowa) 1867-current, 1867-09-04
Corrected weekly by
Louis Benton, .Jr. ~ CO.,
Wholesale Druggists and Grocers.

OFFICE NORTHWESTERN MUTUAL LIFE ms. Co..
416 Main Street, Milwaukee, Wis ,Sept.2, 67.
Circular Containing Information an Regard to Loans
made By this Company
The Charter requires that the security offered be
unicunbered real estate, worth twice the amount Of
tue loan.
And the Bylaws provide that emo loan shall be
made on security of country real estate except on
improved farms, and then not beyond half the value
of the property, exclusive of the buildings"
All the loans made by the Executive Commit
tee, and until they have taken action. definite reply
be giren to an applicant
At each meeting of the Executive Committee. all
applications file that in form. laid before
them and they select thereirom such as they regard
most desirable, to the amount of money to be loaned
As there generally applications for much greater
amount than be loaned many applications must o.
necessity be declined.
Applications to be in FORM should state the amount
of money desired and the time for which it is want
cd with particular description of the property of
ered for security stating its size its location the raj
of the real estate, the character and value of the
buildings, amount of insurance on buildings if any
and if the property is out Of this city, these value.
should be certified by two or three prominent cit
Gems of the vicinity. persons known TO the Commit
tee would be preferred when practcable)
Notice of the action of the Committee will be sent
to applicants Immediately thereafter. But, inasmucl
us the Committee in selecting applications to the
tent of Of their ability to loan, influenced by rea
which they deem for the best interests of In.
Company, and as all communications respecting the
values OF property offered for security should be helC
strictly confidential it is obvious that the 70,
declining any particular application cannot be requr
ed of the Company.
AJter the loan has been voted by the Committee 9
full abstract of title. beginning with the from
the u vernment ana continued up to date, must bt
furnished I'm places where recognized and relia
bic bsrracts of title are kept these be made
certified to by the Register of Deeds) Certificates
the proper officers that there are no judgments, tax
eS, mechanics liens, other membranes upon tn,
| property, must accompany the abstract.
The abstract, &C., need mt be furnished until atfe,
receiving notice that the loan has been voted thu
Company votes the loans with the distinct proyist
that the title shall be certified 10y the Companys at
torney to be good in the mortgagor free from incnm
brance.
On receipt of tho abstracts and certificates afore
said, the Companys Attorney will examine them, ant
if the title is found to be good, will make out thu
bond and mortgage for execution. His charges fol
examining title and making out papers must be pait
by the borrower.
When there are buildings upon the mortgaged prop
erty, fire insurance policies required collateral
security. Duplicate renewal receipts Of such policies
and duplicate tax receipts, must be annually sent t.
the Company.
The interest upon loans is payable semi-annualy on
the first Of May and November Of each year and
be promptly paid by the terms of the mortga the
whole amount of the principal and interest becomes
due and liable to immediate foreclosure.
s. S. DAGGETT. President.
A. W. KELLOGG, Secretary.
r. S. Blank Applications can be had
by applying to
D. D. FRASER,
lwses No. 3 Masonic Block.