The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-12-18

In this State Is made security for the pay
ment of debt. shall be subject TO taxation In
this State as other property Is taxed, and
and taxed to tho owner Of such security and
debt in the county in which the land or
real property affected is s.tuatd.
Art 5213. II shall he the duty OF the county
clerk Of each and every county in this state
to keep record. (separate and apart from
other records. showing every mor'saage. deed
securing debt or loan upon real property
situated IN his county and said record shall
set forth the following information
L. The date OF the mortgage, deed OF trust,
lien, contract or other obligation, whereby
land or real property s given TO secure the
payment of debt. the names of the parties
thereto, and the sum OF money so secured.
2. The residence Of the MORTGAGE or trus-
tee, and the person 10 whom the interest Is
payable. whenever such residence can be
3. priei description OF the real estate
upon which the mortgage. lien or deed OF
trust is. given.
l. The date or several dates when the
said sum or portions OF said sum shall he
5. A like record of every assignment of a
mortgage deed or trust. Len, or contract,
executed to secure the payment of money
And also the mortgages, deed of trust liens
and contracts, together with the amount OF
same. and the names OF the parties thereto,
which shall have been satisfied of record.
| Art. 52l4. Ii shah be the duty of the as
SCISSOR to make transcript OF said record
"
day of February in each year, for his use In
assessing debts and loans the payment ot
which is secured by such mortgages, deeds
OF trust liens, contracts or other obligations
Art 52l5. II the debt to secure the payment
of which, any such mortgage. deed of trust,
! lien OF other contract has been executed,
has not been Listed by the owner Thereof and
ASSESSED for taxation, the assessor shall as
sess the debt or loan secured by such mort
gage, deed OF trust, lien or contract, or any
portion of the same remaining unpaid, as
record
Office The person shall be deemed to be the
owner who appears to be such on the record,
/ fer made ON the margin of the record. No
payment on the debt or loan so secured oy
such mortgage, trust deed. lien, or contract,
shall be taken into consideration In assess.
L ing the same unless shown on the marg OF
! the record, II, in the Judgment OF the com
missoners court sitting as board OF equan-
cation. such debt or loan secured by such
mortgage trust deed, lien or contract, IS
not worth so much as the full amount ap.
psaring by the record to be owning, said board
OF equal cation may have such debt or loan
assessed at its real cash value
! Art 52i6 1t shall be the duty of the county
clerk to record in the margin OF the recori
tract, executed to secure the payment OF
money, when requested so to do by the
mortgage, all assignments thereof, and pay
Art. 5gi7. Any interest. or portion OF the
principal, that may be due on such mort,
gage. deed OF trust, lien or contract. shall
be subject TO galnlSnlneul ny the ."iiNNtSl
for the amount OF taxes due upon the same
and the costs of collection.
Art 52lS. II shall be unlawful Tor any
person or persons, corporation, company ol
association OF persons whatever, loanine
money at interest TO any person or persons
whether such loans be secured by bonds ano
mortgages or otherwise. to require the per
son or persons, borrowing the same 10 pay
the tax imposed thereon by article 92ls G,
this chapter: and in all cases where such taa
shall have been paid by the borrower, tii'
spme shall be deemed and treated as usury
and be subject to the laws governing th'
same. -,
given by railroad companies to secure tht
payment of bonds and interes; thereon, shai
not be subject to taxation under the proVls
ions of this chapter, such bonds beng IN
ciuded in the valuation of railroad property
for taxation as provided In chapter seven o.
this title.
Art. 52l9a Every person, association Of
persons. Arm. company. or corporation. shsi
affrmatively show that the tax imposed pl
this chapter has been paid before ,udicia
foreclosure of any such mortgage. DEED o
trust lien, or contract. given TO secure m
payment of money shall be had II snail n'
the duty of the court wherein such suits ma,
be pending to require. before granting sucl
foreclosure proof that the tax has been nun!
maid No judicial or other sale that may D
made by virtue of any such mortgage o
other lien shall be valid or shall convey TIT
to the purchaser hereunder unless the take
on the money represented by such sechfit.
be fully paid