Chattel Mortgages.

472. Chattel Mortgage to Secure Future Advances.

[As in Form 462, substituting for the words between the ** the following:] WHEREAS the party of the first part is indebted to the party of the second part for in the sum of [as appeared by the account between the parties], and said party of the second part has agreed to make further advances of money and materials to enable the said party of the second part to complete his factory at and commence to operate the same: Now these presents are upon the condition, that if the party of the first part, his executors, administrators and assigns, shall well and truly pay, or cause to be paid, to the party of the second part, his executors, administrators or assigns, upon demand [or otherwise, as agreed], all the sums due and so to become due to the party of the second part, then this conveyance shall be void; otherwise, to remain in full force. And in case any default shall be made therein,

473. Chattel Mortgage, By a Corporation, to Trustees, in Trust for Its Bondholders. day of Company, of

THIS INDENTURE, made the

dred and

between the

A. D. one thousand eight hun

formed under and pursu

ant to an act of the Legislature, of the State of provide for the formation of companies," passed of association duly made, executed and filed on the in the office of the clerk of

, parties of the first part, and W. V., W. X. and Y. Z., trustees, as hereinafter mentioned, of the second part, WITNESSETH as follows: That the parties of the first part, in order to pay off and discharge certain debts and obligations incurred in the formation and operating of said company, and to enable them to conduct, operate and continue the business of said company, and also in pursuance of the resolutions of said company, passed the day of , a copy of which is hereto annexed, marked " A," and forming part of this indenture, have made and issued their several bonds, or obligations, all having even date herewith, by each of which said bonds they acknowledge themselves indebted to or bearer, in the sum of dollars, lawful money

of the United States of America, to the amount of

bering from one to

18 "

dollars, and numinclusive; each of said bonds being made payable to the said parties of the second part, or bearer, and each of said bonds being for the sum of dollars, and payable at the said company's office

in

on or before the day of

and

with interest thereon, at the rate of payable semi-annually, at their office, in and

per centum per annum, days of

in each year, until the whole of the said principal is paid. NOW THIS INDENTURE WITNESSETH, that the said parties of the first part, in order to secure the payment of the said several bonds herein before mentioned, as they respectively fall due in the hands of the bona-fide holders thereof, and the interest thereon, and in consideration of the sum of one

To Secure Corporation Bonds.

dollar, to them in hand paid by the said parties of the second part, the receipt whereof is hereby acknowledged, have granted, bargained, sold, assigned, released, conveyed and confirmed, and by these presents do grant, bargain, sell, assign, release, convey and confirm, transfer and set over unto the said parties of the second part, trustees, as aforesaid, or the survivor or survivors of them, and their successors or assigns, the leases, franchises, licenses and articles of personal property, goods, chattels, horses, stages, etc., etc., as follows:

day of

1. All their right, title, interest and claim in and to a certain grant or lease, dated on the A. D. 18, and made by M. N., of of the first part, to O. P., and which has been duly assigned to the said company, covering six lots of ground on Avenue C and Eleventh-street, in the Eleventh Ward of said city, and recorded in the register's office of in Liber of Conveyances, page the day of , 18, together with the appurtenances, and all the rights and privileges, interests which the said parties of the first part have, or hold, in or to the said lease, and the lands and premises described therein, and the buildings, sheds, and improvements thereon erected.

2. And also, all the franchises, licenses, rights and privileges of running and operating their as now owned and possessed by them, and

or otherwise.

conferred upon them by the authorities of 3. And also, all the fixtures, implements, goods, wares and merchandise, and all other articles of personal property, now belonging to, and in the possession of said company in and more particularly named and described in the schedule hereto annexed, marked B, and which said schedule forms part of this indenture: TO HAVE AND TO HOLD the same to the said parties of the second part, the survivor or survivors, or their successors or assigns, forever. And it is hereby further mutually declared, granted and agreed by the said company, parties of the first part, and the said parties of the second part, trustees, representing the rights and interests in the securities of the parties taking or holding the said bonds or obligations, in the form and manner following-viz., that if the said parties of the first part shall well and faithfully pay the said principal sum of dollars, on the day when the same is made payable by this indenture, as above mentioned, according to the true intent and meaning thereof, with the interest due thereon, and also, the interest which may become due thereon, on the days when the same is made payable, as herein mentioned, or shall deliver up, cancelled, to the said parties of the second part all of the said bonds mentioned herein, then these presents shall cease and determine; but if default shall be made by said parties of the first part, in the payment of the said bonds or obligations, at the time they shall fall due, according to the true intent and meaning thereof, or they shall fail to pay the interest at the time set forth herein, then it shall be lawful for the said parties of the second part, or the survivor or survivors of them, their successors and assigns, and it shall be their duty, and they are hereby authorized and empowered, either in person or by attorney, or by agents, "to enter into, and upon, the lands and premises hereby granted, or intended so to be, and take possession thereof, and also to take possession of the said

Chattel Mortgages.

goods, chattels and other articles mentioned in the said annexed schedule, and also the licenses, franchises, etc., of the said company, and to sell or dispose of the same, or any part thereof, at public auction, according to the statute in such cases made and provided; and also to sell the said articles of personal property mentioned in the annexed schedule, at public auction, at the best price they can obtain for the same, and out of the proceeds arising from such sale to defray the expenses of such sale, and their own just and lawful charges, and then pay over the proceeds to, and amongst the parties holding the said bonds or obligations, for the said sum of dollars, so far as may be necessary to pay the amount then due and in arrear upon the same, and the balance of the proceeds (if any there be) to be paid over to the said parties of the first part, or their assigns. And it is further agreed by the said parties of the first part, that policies of insurance shall be effected by the said parties of the first part upon the said buildings, implements, goods, chattels and personal property mentioned in the schedule, against loss or damage by fire, to the amount of at least dollars, and such insurances shall be continued from time to time, and the policies assigned and placed in the hands of the said parties of the second part, as an additional security for the payment of the said bonds or obligations.

[Corporate seal.]

IN WITNESS WHEREOF, the said

Company, parties of the first part, have hereunto set their corporate seal, and the hands of its president, treasurer and secretary, the day and year first above written.

In presence of

[Signature of witness.]

[Signatures and titles of officers.]

474. Condition in a Mortgage of Stock, That the Mortgagee Shall Not Sell

Until Default.

AND IT IS ALSO PROVIDED, that until default shall be made, in payment of the said sum of dollars and interest, or some part thereof, the said Y. Z., his executors or administrators, will not sell or dispose of the said shares of stock in the said company so transferred to him as aforesaid, and will, from time to time, pay over unto the said A. B., his executors, or administrators or assigns, any dividend or dividends, which he, the said Y. Z., his executors or administrators, shall, in the mean time, have received on account thereof.

475. Unqualified Reservation of Right of Possession Until Default. AND IT IS AGREED, between the said parties, that until default shall be made in payment of the said sum of dollars and interest, the said A. B. and his assigns may hold, enjoy and use the goods above mortgaged, as aforesaid, without the hindrance or interruption of the said Y. Z., or his assigns.

Stipulations as to Sale.

Mortgage of Vessel.

476. Stipulation Requiring a Sale to be Made.

BUT IF DEFAULT shall be made in the payment of the principal or interest above mentioned, or any part thereof, then the said party of the second part, and his assigns, are hereby required to sell the goods, chattels and property, above granted, by public auction, or so much as shall be necessary, for the best price they can obtain, and out of the money to retain and pay the said sum above mentioned, with the interest and all expenses thereon, rendering the overplus (if any) unto the said party of the first part, his executors, administrators and assigns.

477. Stipulation Regulating the Mode of Sale.

after giving at least

SAID SALE to take place at days' notice thereof, by posting up written notices in three different public places in the town, and by advertising once in the . And I hereby further author

ize the person conducting said sale, to adjourn, if, in his opinion, necessary, the same, from time to time, until said property be sold, and to give a bill of sale to the purchaser thereof, which shall be conclusive as to the regularity of all the proceedings connected herewith, and convey absolutely all of my right and title therein.

478. Mortgage of a Vessel.(y)

TO ALL to whom these presents shall come, greeting:

tons, or theredollars, lawful money

Know ye, that we, A. B. (§ths), and C. D. (ths), owners of the bark or vessel called the Mary, of of the burden of abouts, for and in consideration of the sum of of the United States of America, to us in hand paid before the sealing and delivery of these presents by W. X. and Y. Z., the receipt whereof we do hereby acknowledge, and are there with fully satisfied, contented and paid, have bargained and sold, and by these presents do bargain and sell unto the said W. X. and Y. Z., their executors, administrators and assigns, all of the said bark or vessel, together with all the masts, bowsprit, sails, boats, anchors, cables and all other necessaries(2) thereunto appertaining and belonging: To have and to hold the said bark Mary, and appurtenances thereunto belonging, unto them, the said W. X. and Y. Z., their executors, administrators and assigns, to the sole and only proper use, benefit and behoof of them, the said W. X. and Y. Z., their executors, administrators and assigns, forever. And we, the said A. B. and C. D., have, and by these presents do promise, covenant and agree, for ourselves, our heirs, executors and administrators, to and with the said W. X. and Y. Z., their heirs, executors, administrators and assigns, to warrant and defend the said bark Mary, and all the other before-mentioned appurtenances, against all and every person and persons whomsoever.

(y) For a hypothecation on bottomry, any things not clearly included in such a see BONDS. general term, they should be expressly

(2) If it is intended to give a lien on mentioned.

Acknowledgment of Mortgage.

Statement of Renewal.

WHEREAS, A. B. and C. D. are justly indebted to W. X. and Y. Z., for certain sums of money advanced to them by said W. X. and Y. Z., on account of said bark Mary, which the account between the parties shows, and may also require further advances than the original debt, and may also become still further indebted for expenses and charges paid or incurred for them: Now THE CONDITION of these presents is such, that if the said A. B. and C. D. will, on demand, pay all the sums due and to become due to the said W. X. and Y. Z., and shall, in all respects, comply with the terms and conditions hereof, then this conveyance shall be void; otherwise, to remain in full force.

The said W. X. and Y. Z. are not to be liable or responsible, in any way, for the debts or liabilities of said vessel.

IN WITNESS WHEREOF, the said A. B. and C. D. have hereunto set their hands and seals, this

In presence of

[Signature of witness.]

day of

18

Signatures and seals.]

and

day of

one thousand eight hundred

came A. B. and

before me, M. N., a notary public for the State of commissioned and sworn, dwelling in the city of

C. D., to me well known to be the individuals described in and who executed the foregoing instrument, and severally acknowledged that they had executed the same as and for their voluntary act and deed.

WITNESS my hand and official seal, the day and year above written.

[Seal.]

[Signature and title.]

480. Annual Statement of Amount Claimed. (a)

STATEMENT filed by Y. Z., the mortgagee in the mortgage of which the annexed is a copy:

I, Y. Z., the mortgagee mentioned in the mortgage of which the annexed [or, within] is a true copy, do hereby certify that the sum of dollars and interest thereon from the day of

18, is still due on said

mortgage; which sum constitutes the amount of my interest in the property therein mentioned and described.

481. The Same; Where the Mortgage is Claimed as Security for Contingent or Unliquidated Demands.

STATEMENT filed by Y. Z., the mortgagee in the mortgage of which the annexed is a true copy:

(a) It is not a sufficient statement to indorse on the mortgage already on file, that it is refiled and renewed, with the date.

There must be a statement exhibiting the interest of the mortgagee. Fitch v. Humphrey, 1 Den., 163.