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gage shall be sufficient proof that any person claiming to act for the mortgagee is duly made, constituted, and appointed agent and attorney to do whatever is above authorized.

In Witness Whereof The said mortgagor has hereunto set his hand and seal this in the year of our Lord one thousand nine hundred and

day of

(Signature of mortgagor.) (Seal.)

Signed, Sealed, and Delivered in the presence of

STATE OF

SS.

COUNTY.

(the

A.D. 19

This mortgage was acknowledged before me, by mortgagor), this

day of

(243.)

Mortgage of Personal Property, with Power of Sale

another Form.

Know all Men by these Presents, That I (name and residence of mortgagor) in consideration of the sum of to me paid by

(name and residence of mortgagee) the receipt whereof is hereby acknowledged, have granted, bargained, and sold, and by these presents do grant, bargain, and sell unto the said (name of mortgagee) the following named and described articles of personal property; that is to say (here follows the list or schedule and description of the articles mortgaged, as in Form 240).

To Have and to Hold, All and singular, the said goods and chattels, unto the said (name of mortgagee) and his executors, administrators, and assigns, to his and their sole use forever. And I, the said mortgagor, for myself and my executors and administrators, do covenant to and with the said mortgagee and his executors, administrators, and assigns, that I am lawfully possessed of the said goods and chattels, as of my own property that the same are free from all incumbrances; and that I will, and my executors and administrators shall, warrant and defend the same to the said mortgagee and his executors, administrators, and assigns, against the lawful claims and demands of all persons.

Provided Nevertheless, That if the said mortgagor, or his executors or administrators, shall well and truly pay unto the said mortgagee, or his executors, administrators, or assigns, the sum of then this

deed, as also a certain promissory note bearing even date herewith, signed by the said mortgagor, whereby he promises to pay the said mortgagee the said sum and interest at the time aforesaid, shall both be void, and otherwise they hall remain in full force and virtue.

And Provided Also, That until default by the said mortgagor or his executors and administrators, in the performance of the condition aforesaid, or of some part thereof, it shall and may be lawful for him or them to keep

possession of the said granted property, and to use and enjoy the same; but in case of such default, or if the same or any part thereof shall be attached at any time before payment as aforesaid, by any other creditor or creditors of the said mortgagor, or if the said mortgagor, his executors or administrators, shall attempt to sell the same or any part thereof without notice to the said mortgagee or his executors, administrators, or assigns, and without his or their assent to such sale in writing expressed; or shall remove the same, or any part thereof, from the place where they now are, without such notice and assent, then it shall be lawful for the said mortgagee, his executors, administrators, or assigns, to take immediate possession of the whole of said granted property to his or their own use, and to sell and dispose of the whole, or of so much of said granted property at public auction, as shall produce a sum of money sufficient to pay and discharge the above-mentioned debt or liability, with interest, and all costs and charges of keeping and selling the same, and all just and equitable liens then existing thereon, without further notice or demand, except giving

day's notice of the time and place of said sale to said mortgagor or his legal representatives; and after the said debt or liability, with interest, costs, charges, and liens, shall be so discharged and satisfied, the surplus of the money arising from said sale and the residue of said granted property, shall be paid and restored to said mortgagor or his legal repre sentatives, discharged from all claim under this mortgage.

In Testimony Whereof, I

hereunto set my hand and seal this

of our Lord one thousand nine hundred and

the said (name of mortgagor) have day of in the year

Executed and Delivered in Presence of

(Signature.)

(Seal.)

ABSTRACT OF THE LAWS OF THE STATES AND TERRITORIES CONCERNING CHATTEL MORTGAGES.

ALABAMA. - Personal property may be mortgaged, but to be good against creditors and purchasers without notice, the mortgage must be recorded in the county where the grantor lives, and also in the county where the property is at the time of tonveyance. If removed to another county, the mortgage must be recorded there within three months. Mortgages of personal property usually contain powers of sale, and are foreclosed according to the provisions of the mortgage.

ALASKA.- Any transferable interest may be mortgaged, but to be valid against creditors possession must be delivered to and retained by the mortgagee, or an affidavit filed as to good faith. The mortgage must be acknowledged, and filed in the office of the recorder of the precinct where the mortgagor is and in that where the property is. Within thirty days next preceding the expiration of one year from the original filing, it must be renewed, which has the effect of extending the lien one year. Chattel mortgages are foreclosed in the same manner as mortgages on real property. If the mortgagor sells the property during the existence of the lien without notifying the purchaser of the existence thereof, he forfeits twice the value of the property sold.

ARIZONA.—All personal property may be mortgaged. The mortgage must set forth the residences of the mortgagor and mortgagee, the sum to be secured, the rate of interest to be paid, and when and where payable, and both parties must make affidavit that the mortgage is bona fide, and not made to defraud or delay creditors. The mortgage, with the affidavit annexed, must be recorded in the county where the mortgagor lives, and also where the property is situated when there is not immediate delivery and continued change of possession. Foreclosure by notice and sale. Notice must be served on mortgagor, subsequent purchasers and persons having recorded liens, posted in three public places in the county ten days before the sale, and published once in a newspaper in the county.

ARKANSAS.-Chattel mortgages must be acknowledged before some persou authorized by law to take acknowledgments, and filed or recorded in the county where the mortgagor resides, and are liens on the property mortgaged only from such time. If filed without being recorded, the lien expires in one year, unless within thirty days before the expiration of the year the mortgagor files an affidavit showing his interest in the mortgaged property and the amount due. After condition broken, suit may be brought on the mortgage, and judgment rendered for the sale of the property and the recovery of the debt against the defendant personally. If the property does not bring two-thirds of the appraised value, the sale may be postponed for sixty days, unless the right of appraisal is expressly waived in the mortgage.

CALIFORNIA.—The following property may be mortgaged: Locomotives and rolling stock of a railroad company, steamboat machinery, and machinery used by machinists, foundrymen, and mechanics, vessels of more than five tons burden, pianos and organs, steam engines and boilers, mining machinery, printing presses and materials, professional libraries, instruments of surgeons, physicians, surveyors, and dentists, and the instruments, negatives, and fixtures of photograph galleries, upholstery and furniture and household goods, oil paintings, pictures, and works of art, growing crops, wine, fruit brandy, fruit syrup, or sugar and apparatus used in the manufacture or storage of the same; iron and steel safes, cattle, horses, mules, swine, and sheep, harvesters' threshing outfits, hay presses, and farming implements; abstract systems, books and papers of searchers of records, raisins and dried fruits cured or in process, boxes, fruit graders, drying trays, and fruit ladders. The mortgage is void against creditors, unless accompanied by an affidavit of all the parties that it is made in good faith and without any design to defraud creditors, and unless it is acknowledged and recorded in the same manner as a deed of real property, in the office of the recorder for the county where the mortgagor resides, and also where the property is situated. Chattel mortgages may be foreclosed, as in the case of pledges by sale after demand; the mortgagee must give notice of the time and place of sale which must be by public auction; or he may foreclose by action, and the court by its judgment may direct a sale of the property.

COLORADO.-The property must be delivered to the mortgagee, or the mort. gage acknowledged and recorded in the county where the property, or a greater part is, and it is then valid for two years if the mortgage debt does not exceed $2,500, for five years if the debt does not exceed $20,000, and ten years for larger sums. If the amount exceeds $2,500 mortgagee must annually file a sworn statement that the mortgage was given in good faith to secure the sum mentioned therein, and the amount due. Mortgage for less than $300 for not exceeding six months may be filed without being recorded. When chattel mortgages are in form of trust deeds, they contain a power of sale by the trustee at public auction, on giving certain notice. Otherwise there is no statute provision in regard to foreclosure. After default the mortgagee has thirty days to take possession of the property, and until possession is taken mortgagor has right to redeem.

CONNECTICUT.-Machinery, engines, or implements situated or used in any manufacturing or mechanical establishment, presses, types, etc., pertaining fo a printing establishment, household furniture used in housekeeping, hay in a building, tobacco in the leaf, pianos, organs, and melodeons, and any instrument used by a band or orchestra, and brick, burned or unburned, in any kiln or brickyard may be mort

gaged. The mortgage must be executed, acknowledged, and recorded in all respects as a deed of land, and, on breach of condition, may be foreclosed by order of court.

DELAWARE.- Chattel mortgages must be acknowledged and recorded within ten days, and the lien continues for five years. They must be renewed every five years. Mortgages are foreclosed by suit in court.

DISTRICT OF COLUMBIA.- Security on chattels is usually taken by deeds of trust, which must be acknowledged and recorded, and which usually confer on the trustee power to sell in case of default after giving notice by advertisement.

FLORIDA.- The property mortgaged must be delivered to the mortgagee, or the deed must be executed and acknowledged in the same manner as. deeds of real property (see Deeds, etc.), and recorded within ninety days in the office of records for the county where the property is at the time of the execution of the mortgage. The mortgage is foreclosed by bill in equity in the circuit court for the county where the property is, except mortgages for less than one hundred dollars, which may be foreclosed in a justice's courtWhen a mortgage is paid in full, it must be canceled on the records by ti.. mortgagee, and failure to do so for thirty days after written demand is pun ishable by fine or imprisonment or both.

GEORGIA.- The mortgage must clearly indicate the creation of the lien, specify the debt and the property to be secured. It must be executed in presence of, and attested or proved by or before, a notary public or a judge or clerk of court, and recorded in the county where the mortgagor resides, and in the county where the property is, and is valid against third parties only from date of record. To foreclose, the mortgagee must go before some officer of the State authorized to administer oaths (or a commissioner for Georgia, if he be a non-resident), and make an affidavit of the amount due, and that the mortgagor, if a resident of the State, resides in the county where the foreclosure is made, which affidavit shall be affixed to the mortgage, and the mortgage filed in the office of the clerk of the superior court for the county where the mortgagor resides; and the clerk shall thereupon issue an execution directing the sale of the property. The sheriff shall levy on the property, and after advertising weekly for four weeks, may sell the same. When the debt is not over one hundred dollars, the proceedings may be before a justice of the peace, who may issue execution after notice to the mortgagor, and the constable may sell after advertising sale in three or more public places in his district.

IDAHO.- Mortgages of personal property must state the residence of the mortgagor and mortgagee, the sum to be secured, rate of interest, and when and where payable, and the mortgagor must acknowledge the instrument and make affidavit that the mortgage is bona fide, and made without design to defraud or delay creditors. The mortgage and affidavit attached must be recorded in the county where the property is situated. Foreclosure may be by action, or the mortgaged property may be sold at sheriff's sale.

ILLINOIS.— Mortgages of personal property are not valid unless the property is delivered to the mortgagee, or unless the instrument is acknowledged before a proper officer, and recorded in the county where he resides, or if he is a non-resident, in the county where the property is. The lien expires in three years from the date of record unless within thirty days before the expiration of three years, or the maturity of the debt, the parties file with the recorder and with the justice upon whose docket the acknowledgment was

recorded, or his successor, an affidavit setting forth the interest of the mortgagee in the property, the amount unpaid and when due, by which the lien is extended for one year longer from the filing thereof, or until the maturity of the debt not to exceed one year. After default, the mortgage must be at once foreclosed, or the lien will be lost. Chattel mortgages usually contain a power of sale and may be foreclosed in accordance therewith, except mortgages on necessary household goods, wearing apparel, or mechanics' tools, which can be foreclosed only in a court of record. A mortgage by a married man or woman on household goods must be joined in by wife or husband. Notes secured by chattel mortgage must so state.

INDIANA. If the goods are not delivered, the mortgage must be acknowledged in the same manner as deeds of real property, and recorded within ten days in the county where the mortgagor lives, or if he be a non-resident in the county where the property is. There is no strict foreclosure. The mortgagee is entitled to possession of the property on breach of the condition, and may bring an action to recover the same, but the equity of redemption of the mortgagor can be extinguished only by public sale after proper notice, or by sale on foreclosure proceedings. Mortgage of household goods must be foreclosed by suit.

IOWA. — The mortgage is not valid unless it is in writing, signed, acknowledged and recorded in the county where the holder of the property resides. Chattel mortgages for the payment of money only, and in which the time of payment is fixed, may be foreclosed by notice and sale. The notice must contain a full description of the property, and the time and place of sale, with the terms of the same, such notice to be served on the mortgagor and purchasers from him, and on all persons having recorded liens subsequent to the mortgagor, and afterwards published in the same manner as in case of sale of property on execution. Mortgage of property exempt from execution must be signed by both husband and wife.

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KANSAS. Unless the property be delivered to the mortgagee, the mortgage, or a copy of it, must be deposited in the office of the register of deeds for the county where the mortgagor resides, or where the property is if he is a non-resident, and, in order to preserve the lien, an affidavit must be filed within thirty days of the expiration of each two years by the mortgagee, stating that his interest is a continuing one, and the amount then due. After condition broken, the mortgagee or his assignee may proceed to sell the mortgaged property, or so much thereof as is necessary to satisfy the mortgage, having first given notice of the time and place of the sale by written or printed handbills posted in at least four different places in the township or city in which the property is to be sold, at least ten days before the sale, or if the mortgage so provides he may sell at private sale. Mortgage of exempt property must be signed by husband and wife jointly. Promissory notes and other written instruments evidencing conditional sale of personal property retaining title in vendor until price is paid in full are subject to the same provisions as to record, etc., as chattel mortgages.

KENTUCKY.-Chattel mortgages must be acknowledged, and recorded in the office of the clerk of the court for the county where the mortgagor resides. They may be foreclosed by bill in equity. If the mortgagee takes possession for foreclosure, the mortgagor has five years to redeem.

LOUISIANA.- Chattel mortgages are unknown. Security is given by means of pledge. Agreements allowing the creditor to appropriate the ple to himself are null.

MAINE.- Mortgages of personal property are not valid unless the property is delivered, or the mortgage is recorded by the clerk of the town in

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