Albuquerque evening herald. [volume] (Albuquerque, New Mexico) 1911-1914, 1913-09-20

Section g That lien ls hereby
fixed upon each of said above describ-
cd parcels Of property FOR the amount
above assessed against IL ana that
each of tho said owners shall be per-
sonally liable for the amount above
assessed against his property and that
the amount assessed against the said
property and the owners thereof shan
be payable as follows, to-wlt: In
three equal instniiments, onc-third
thereof within 80 days after the final
completion and acceptance by the city
OF said improvements; Onc-third on
or before one year from the date OF
said acceptance; and ono-third on on
before two years from said date, to-
gether with interest on said INSTALL
ments from the date OF such accept.
once al the rate OF per cent per an
mum; provided that any property own
or asalnN whose property an assesH-
mont has Decn hereby imposed shan
have the option and shall be entitled
to pay at any time before maturity
any or an instailments with accrued
interest 20 date OF payment
Section 3. THAT if default shall be
made in the payment Of any INSTALL
mcnt of principal or interest at such
assessment when due then such de-
fault shall al the option Of said Te-Naa
Biiuitfic company or It's assigns. be-
Ing the legal holder Of such assess.
ments no once mature all unpaid as
seesmonts together with accrued in
tercst which shall be colloctlhle with
out notice.
Section Z. That upon payment by
ans property owner az his assessment
In fan the city clerk shall cause 10 be
executed by the mayor and duly at
tested b. the clerk the release OF such
assessment.
Section .. That the amount herein
assessed against any parcel OF prop
erty OF the owner thereof together
with al Interest and reasonable costs
incurred In collecting tho same shall
constitute personal claim against
such property owner aud shall be So
cured by q lien on such property prior
To- all other Hens. ana for the security
of the certificates hereinafter men
TONED declaring the liability of such
oWner or owners and their property
for the payment OF said assessment,
an assessments or reassessments up
on the property affected shall con-
siltuto lien on said property which,
shall be the first enforceable claim
asainst said property superior 60 all
other liens or claims except state.
county and municipal taxes and tho
passage of this ordinance shall oper-
ate az constructive notice of the liens
thereby fixed upon the property here
In ana la said certificates decribed
without other record thereof and said
liens shall relate back and take effect
as of the date Of the Origlnal resolu-
ton ordering such Improvements
section o. That said liens shall be
enforced IN the same manner or as
nearly ns practicable In the same
manner In which real property
mortgage is forcclOsed.
Section e. That assignable Ger.
tihcates In the name OF the city shall
be issued by the city against each
parcel Of property nbutilng said street,
ana the owner thereof Tor the re-
spective amounts asseysed against
each property and its owner, which
certificates shall be payable to tho
signs and shall set forth and declare
the amount 10 be paid by cash Of said
owners az herein assessed against the
said property, and the time and
terms OF payment, as herein provided,
and shall describe the lots or parcels
Of property referred Ia therein by
number and block or other doscrip-
ton that may Identify the same and n
the owner h unknown or said prop-
erty IN owned hy an estate, q shall De
sufficient 10 SO state the said facts Ia
said certificate The said certificate
shall provide that default In the pay
ment Gf any installment az principal
coz interest thereon. shall, al the OPP
tion OF the Texas Bltulithie company,
or the legal holder thereof mature
the mid certificate for the fun amount
unpaid thereon, and chat upon said
default the whole amount due upon
such certificate shall become due and
collectlhio, at the option of said COM
panv and rs assigns, with accrued In
tercst,
That said certificates shall further