The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-05-03

I QuSAI poi NiSis. VI InOfISdBeeS VI Lie
property in good faith the lien of such
mortgage shall in no event continue be-
You'd the term of six 60 years from the
date of the filing of such mortgage.
No mortgage of personal property shall
be notice OF any TACT as against the cred
itors OF the mortgagor or subsequent pur-
chasers or mortgages of the property in
good faith unless the same is attested by
two CD witnesses and acknowledged be-
fore some officer authorized to take ac-
| acknowledgements.
Sec. 8. NO mortgage pledge or other
| incumbrance of personal property which
may be held exempt from execution or at
tachment u, under any of the provisions IN
cont mes IN n 'n nnt Hfst s seHohd 1Ina If
section three hundred and ten (310) of chap
ter sixty-siX (6G) of the general laws of
| eighteen hundred and seventy-eight QS7S),
! given or madt. by married man or wom-
an shall be of any validity whatever I'M
less the same be by written instrument
executed and acknowledged as hereinbe,,
| fore provided. and unless the husband
| and wife, If both are living, concur in
and sign and acknowledge the same joint
| instrument.
Sec, g. Upon the payment of the amount
due on any mortgage of personal property
it shall be the duty of the person owing
| the same to make and deliver to the per-
son paying the debt, a receipt stating
| therein that the same has been paid in
| full and is thereby satisfied, and he shall
| further execute and file at his own ex-
pense a full and complete satisfaction of
|
| office where such mortgage is filed, and
| every owner of any such mortgage who
fails so to execute and record such salts
| faction within sixty 900 days from such
| payment shall be liable to the mort.yagor
| or the person owning the property any
subsequent creditor of the mortgagor or
| person owning the property, or any per-
son having lien on the property, in a
penalty of treble damages.
| Sec. Z. When any condition of a mort
gage of personal property is broken, the
LON fI11lU la i'm.
| ing under him. may redeem the same at
any time before the property is sold or
| the right OF redemption is foreclosed, pur-
| suant to the terms of the contract be-
| tween the parties, as hereinafter provided
| and any subsequent purchaser or mort
gage of the property, or any. creditor of
| the mOrtgagor or owner of the property
having or claiming lien thereon, may in
like manner redeem the same from such
| mortgage.
Sec s. A person entitled to redeem shall
| pay or tender to the holder of such mort
gage. his authorized agent or attorney,
the sum due on the debt secured thereby,
or offer performance of the thing to be;
| done together with all reasonable charges
| and expenses incurred in the care and
custody of the property lawfully arising
under the mortgage, and such payment,
| or tender, if kept good, shall have the
effect to discharge the lien of such mort
| gage when made by the owner of the
| property; when such redemption shall be
made by any subsequent purchaser, mort
lien on the property, it shall have the
effect of subrogating such person re-
deeming to all the rights of the mort
| gage or holder of such mortgage.
Sec. 8. Whenever the MORTGAGE in a
| chattel mortgage has a remedy by sale
of the property authorized by the terms
OF the mortgage, in case of default, such
mortgaged property shall not be sold at
private sale, but only upon notice, as
! herein provided, and no mortgage nor
! any one claiming under him, shall have
.itrhf orJ,i
| sufficient cause, based upon actual facts,
| to declare any of the conditions or stipu-
| lations of mortgage broken prior to
| the time of default in the payment of
| when the conditions thereof should be
performed. When any condition of a
| mortgage of personal property is broken
| the same may be foreclosed by sale Of
| the mortsaged property upon notice and
in the manner following. The notice shall
contain:
| mortgage and of the assignee, if any.
Second-The date of the mortgage.
.Third-The nature of the default and
the amount due at the date Of the notice.
Fcurth-A description of the mortgaged
property, conforming substantially to
that contained in the mortgage.
Fifth-The time and place of sale.
SiXth-The name of the party, agent or
attorney foreclosing the same, and if an
attorney, for whom.
Such sale shall be made at some con-
venient place within the county where
such mortgaged property, or some part
| thereof, to be sold, is located at the time
of the commencement of the foreclosure
proceedings, or in the3 county wherein
such mortgage is filed, and the property
sold shall be in view at the time Of the
SALE ZF II"
Sec 10. Such notice shall be, served
upon the person in possession of the
he resides or can be found in the county
where the foreclosure is had, in the man
ner provided for services of summons
in actions in the district court and shall
b. posted in three 60 public places in
such county at least ten Q0) days prior
to the date of sale, and; at the time and
place. stated in such notice the person
sell the mortgaged property or so much
thereof as shall satisfy the, debt secured
thereby and the costs and expenses of
foreclosure, and any surplus of property
not sold shall be delivered back to the
owner.
Sec H. Within three (s) days after
such sale the person making the same
shall make a report in writing, of all
the proceedings in such foreclosure, spe-
cfyng therein the property sold and the
property returned, if any, the amount re-
ceived from such sale, together with an
itemized statement of ali costs and ex-
penSeS and the distribution of all moneys
and the amount applied upon the mort
gage. debt, which statement shall be veri-
fled by his oath, or if he be an officer
then by his official certificate attached
thereto, and when so made shall be forth
with filed in the office wherein such mort
gage is fled and when so filed such GER
tificate or certified copy thereof shall be
prima facie evidence in all courts of this
state of the facts therein stated.
Sec. u: Whenever an attorneys fee
personal property is provided for and
stipulated in the mortgage, such amount
as is therein specified, and no more, may
be deducted and paid from the proceeds
of the sale of such property to the at
torney foreclosing such mortgage. But
such attorneys fee shall in no case be
regularly admitted attorney at law of
this state shall make and file in the Office
where such mortgage is filed, his affidavit
stating that he foreclosed said mortgage
and that such fee has been paid to him
for such services which affidavit shall
be filed within ten days after the date of
the sale of the mortgaged property:
Sec ID. Any person mentioned in sec
ton seven 60 of this act shall have the
absolute right to redeem such mortgaged
property or any portion thereof which
may have been sold separately and for
separate and Independent price. at any
time within two (2) days after the MAX
ing of such sale, upon paying to the pur-
chaser thereof or his assigns the amount
and expenses of keeping such property
during the time allowed for redemption,
and such purchaser at such sale shall
thereupon deliver up the custody of such
property to such person entitled to re-
deem the same, executing to him the
proper release from such sale, and if no.
tice of intention to redeem be given the
person conducting the same at or before
the time such sale is made he shall
retain possession of such property for
such period, unless sooner redeemed.
Sec H. The MORTGAGE, his representa-
tives or assigns, may fairly and in good
faith purchase any property sold under
the provisions of this act provided the
same is conducted by the sheriff his dep
uty, or any constable of the county where