Before said mortgage is received by the register of deeds for Computing, recording it shall be presented to the county treasurer who etc. shall as one of his official duties compute and collect the taxes due thereon as provided by this act, and shall certify on said mortgage the amount secured thereby and the amount of taxes received by him. Said certificate shall be recorded Certificate, by the register of deeds as a part of the record of said mort- recording of. gage. If said mortgage is given wholly or partly as an indemnity, the mortgagee or owner thereof, shall attach thereto an affidavit showing the greatest amount for which it can, under any circumstances, become security, and the taxes shall be paid upon that amount, and no greater sum can be collected on said mortgage. Such certificate shall not be required with any mortgage made to indemnify the mortgagee as surety, or to secure the performance by the mortgagor of any contract which does not require the payment of a specified sum of money, nor with any mortgage made to correct or perfect a mortgage previously recorded, on which the charges imposed by this act have been paid, if no new or additional indebtedness is created thereby. For a wilful mis- Wilful misstatement of the amount for which said mortgage can, in event, become security, said mortgagee or the owner of said mortgage shall be deemed to have subjected himself to the pains and penalties of perjury. any statement. partly with commis SEC. 4. If the mortgage shall cover and describe real prop- Property erty situated partly within and partly without this State, out the state. then the said mortgage shall contain immediately after each separate description of real property, a statement of the value of the said property set forth in such separate description. The mortgagor shall take oath, which may be administered Perjury. in the acknowledgment of said mortgage, that the several values placed upon the several descriptions are the true values thereof, to the best of his knowledge and belief, and for a wilful misstatement of any such values he shall be deemed guilty of perjury. When the real property covered When tax by said mortgage is located partly within this State and sioners to departly without this State, the Board of State Tax Commis- termine tax. sioners shall be notified thereof by the county treasurer to whom said mortgage is first presented in this State and it shall be the duty of said Board of State Tax Commissioners to determine what proportion shall be taxable under this act, by determining the relative value of the mortgaged property within this State as compared with the total value of the entire mortgaged property taking into consideration in so doing the amount of all prior incumbrances upon such property or any portion thereof. The said Board of State Tax Notice, how Commissioners shall cause notice to be served upon the mortgagor and the mortgagee in the manner hereinafter provided, and not less than ten days thereafter shall proceed to determine what proportion of the principal indebtedness secured by the mortgage shall be used as the measure of taxa served. Form. Non-residents, tion within this State under the provisions of this act. The day of..... Anno the Board of State Tax Take notice, That on the Domini nineteen hundred ... Commissioners of the State of Michigan, will meet in the offices of said commission at Lansing, Michigan, at o'clock a. m. (p. m.) to determine what proportion of the principal indebtedness secured by the mortgage on the property herein described, shall be used as the measure of taxation within this State under the provisions of act number ..... of the public acts of nineteen hundred eleven, and that you are entitled to attend such meeting and to testify as to the correctness of the several values placed upon the several descriptions contained in said mortgage. (Description) Signed.... Place of business... Who to serve. The service of the said above notice shall be made by the sheriff of any county in this State in which the property situated in this State and covered by said mortgage lies. If the persons entitled to such notice, or any of them, are residents of this State, they shall be served therewith personally, or by leaving said notice at their usual place of residence with some member of the family of mature age, or by forwarding same by registered mail in a sealed envelope properly addressed to their last known place of abode, and proper return thereof shall be made by the sheriff. If the persons entitled to said notice or any of them are non-residents of this State, said above notice shall be served by sending a copy thereof by registered mail to the proper postoffice address of said non-resident person or persons, and in making his return the sheriff shall attach the postmaster's receipt for the same; or said non-resident person or persons shall be served personally with a copy of said notice and whenever such notice shall be personally served outside of this State, proof of such service shall be made by the affidavit of the person who shall serve the same, made before a justice of the peace or notary public and when such affidavit shall be made outside this State, it shall have attached thereto the certificate of the clerk of the court of record, certifying to the official character of the justice or notary, and the genuineness of his signature to the jurat of the affidavit and the sheriff shall make proper return of said proof of personal service. If the said non-resident person or persons entitled to said notice are dead, or if their estate shall be under control of a trustee or guardian, then and in such case notice as herein before provided shall be served upon the executor or administrator of said deceased person or persons, or upon his or their heirs if there be no executor or administrator, or upon the trustee or guardian of any incompetent person with When served on executor, etc. what con like effect as if served upon the mortgagee or mortgagor, and if the sheriff of the county where any of the real property covered by said mortgage is located in this State shall make a return that after careful inquiry he is unable to ascertain the whereabouts or the postoffice address of the person or persons upon whom notice shall be served as aforesaid, or any of them, then such notice as is herein provided for shall Publication. be published for four successive weeks which shall be construed to mean four publications once each week, in some newspaper published and circulating in the county where such property is located, if there is one, and if no such paper is published in such county then publication shall be made in some newspaper published and circulating in an adjoining county and due proof of publication by affidavit of the printer or publisher of such newspaper, shall be filed with the proper return of the sheriff and shall be in lieu of personal service upon the person or persons whose whereabouts or postoffice address can not be ascertained. In determining Determinathe separate values of the property covered by any such tion of value, mortgage within and without this State for the purpose of sidered in. ascertaining the proportion of the principal indebtedness secured by the mortgage which is taxable under this act, the Board of State Tax Commissioners shall consider only the value of the tangible property covered by such mortgage, taking into consideration in so doing the amount of all prior incumbrances thereon. For the purpose of determining such Data, etc., value, the Board of State Tax Commissioners may require the mortgagor or mortgagee or both to furnish the board by affidavit or verified report, such information or data as it deems necessary for such purpose, or the board may take the testimony of the mortgagor or any other person in relation thereto, and if any person whose testimony is desired can be found within this State, may require him by subpoena to attend before the board at a specified time and place for the purpose of testifying in relation to the value of such property. When said Board of State Tax Commissioners shall when tax have determined the amount of tax due on said mortgage, said determined. board shall file a certified copy of such determination with the register of deeds or recording officer of each county in which any part of the mortgaged property in this State is situated, and said board shall forthwith serve notice of said Notice. determination in writing upon the mortgagor and mortgagee in the manner herein before specified for serving notice of examination by said Board of State Tax Commissioners and in form as hereinafter provided, and said mortgage upon Mortgage, which said tax is due shall not be received for record until when the tax determined upon by the Board of State Tax Commissioners, shall have been paid in full. The Board of State Board, rules Tax Commissioners shall adopt rules to govern their procedure, and the manner of taking evidence in these matters, and may require certified statements to be furnished by the board of assessors or register of deeds or recording officer of the who to furnish. recorded. of, etc. Provisions, when not applicable. respective counties in relation thereto. The provisions of this section relating to the refusal of receiving a mortgage for record until the tax thereon has been paid in full shall not apply to mortgages made in trust to secure payment of bonds or obligations issued or thereafter to be issued, when only a partial amount of the indebtedness has been advanced thereon at the time of presentation for record. The aforedetermination, said notice of the determination of the Board of State Tax Commissioners shall be in form as follows: Notice of form. Mortgages made in trust. Further amount advanced. When unenforceable. When discharged. When recorded before act effective. 170-695 71-548 To the mortgagor of the within described property: Take notice, That the tax upon the mortgage on the property hereinafter described has been determined by this board to be..... Said mortgage will not be ad mitted to record in any county in the State of Michigan until said tax shall have been fully paid and discharged. (Description) Signed.... Place of Business... SEC. 5. In case of mortgages made in trust to secure payment of bonds or obligations issued or to be issued thereafter, if only a partial amount of the indebtedness has been advanced thereon at the time of presentation for record such mortgage shall, at the end thereof, contain a sworn statement of the amounts advanced thereon and secured thereby, and the tax herein provided shall be computed on that basis. When a further amount is advanced thereon or becomes secured thereby the mortgagee shall immediately present to the county treasurer and file with the recording officer where such mortgagee was first recorded a statement of the amount about to be further advanced or become further secured, and the tax on such amount shall thereupon become due and payable on such amount about to be advanced or secured, and it shall be paid in the same manner as to the original tax thereon as in this act provided. If such additional tax is not paid as required by this section such trust mortgage and evidence of indebtedness, bonds or securities secured thereby shall be unenforceable until said tax is paid and such additional tax shall draw interest at the rate of one per cent per month from the date when the same became due. No trust mortgage shall be discharged until the trustee therein shall have filed an affidavit that all taxes for which such mortgage is liable have been duly paid. Any person making a false affidavit under this provision shall be liable to prosecution for perjury. SEC. 6. The owner of any mortgage which is now, or which may be recorded before this act takes effect, may present to the county treasurer of the county in which said property is situated an affidavit setting forth the mortgage and the place of record thereof and the amount of principal secured thereby which is unpaid, and may pay a like tax of one-half of one per cent upon such amount, and thereafter said mortgage for the purpose of taxation is to be considered and treated the same as other mortgages provided for in this act. Said affidavit shall be recorded in the office of the regis ter of deeds and shall be prima facie proof of the amount of the principal unpaid on said mortgage. Mortgages given prior to January first, nineteen hundred twelve, and on which the registry tax provided for in this act shall not be paid, shall remain under the present ad valorem system of taxation and shall be assessed and taxed under the present law. where SEC. 7. The county treasurer shall keep a separate account Specific taxes, of said specific taxes collected by him and shall on the first credited day of each month, transmit to the State Treasurer one-half of the moneys in his possession belonging to that account, and the county treasurer shall credit to the general fund of the county, the specific taxes collected by him as aforesaid. The State Treasurer shall place the same to the credit of the general fund, to be used for general State purposes. when SEC. 8. No mortgage or land contract, which is subject Contract, to the tax imposed by this act shall be released, enforced, released, etc. discharged of record or received in evidence in any action or proceeding at law or in equity, nor shall any assignment of or agreement extending any such mortgage or land contract be recorded until the tax imposed thereon by this act shall have been paid as in this act provided. No judgment or final order in any action or proceeding at law or in equity shall be made for the foreclosure or enforcement of any such mortgage or land contract, which is subject to the tax imposed by this act, or any debt or obligation secured thereby, until the tax imposed by this act shall have been paid as provided in this act. The certificate of the county treasurer Certificate of in form as hereinafter provided, shall be prima facie evi- form. dence of the payment of the tax. The certificate aforesaid shall read as follows: State of Michigan, treasurer, by I hereby certify that the tax due upon the mortgage given mortgagor, to mortgagee, covering the property therein described and re in the register County, Michigan. more than SEC. 9. Where a mortgage covers property in more than when one county in this State, the tax herein provided shall be property in paid in the county where the same is first presented for record one county. and no tax shall be imposed or additional treasurer's certificate required for the purpose of recording such mortgage in any other county. |