Page:United States Statutes at Large Volume 31.djvu/596

 544 FIFTY-SIXTH CONGRESS. Sess. I. Ch. 786. 1900. mortgage, with a veriBed statement exhibiting the interest of the mortgagee in the property at the time the same is renewed, as claimed by virtue of suc mortgage, is again Bled in the office where the original was Bled; and the e act of such renewal shall be to eisend the lien of the mortgage as against the creditors, purchasers, and incumbrancers of the property for the further term o one year. m§j§;*;;g;¤‘b“q‘*°¤° Sec. 316. Any subsequent mort ee of personal (property upon ` which a (prior mortgage exists, whiciagas been extende or renewe as p1'OVldB in section three hundred and Bfteen of this title, may at any time during the existence of such mortgage, pay the amount of the debt and interest owing. and secured thereby, as shown by such veriBed statement and mortgage, or deposit the full amount thereof with the recorder of the precinct wherein such verified statement and mortgage are Bled, subject to the order of the mortgagee, his legal representatives or assigns, and the receipt or duplicate receipt for such payment or deposit s all be Bled in the oBice and attached to said mortgage, and thereby such subsequent mortggigee shall be subrogated to all the riggits of the lprior mortgagee un er such mortgage. Ofiggigggggggggggl `Ec. 317. ersonal property mortgaged may e taken on attachment _or execution issued at the action of a creditor of the mortgagor; but before the property is so taken the officer must pag or tender to the mortgagee or the assi ee thereof the amount o the mortgaged debt and interest, or must dgposit the amount thereof with the recorder of the precinct in which the mortgage is Bled, payable to the order of the mortgagee or the assignee thereo ; and when the property then taken gs gold under process the oicer must apply the proceeds of the sale as o ows: (1) To the repayment of the sum paid to the mortgagee or -the assignee pif said mortgage, with interest from the date of such pay- ment; an ‘ . (2) The balance, if any, in like manner as the proceeds of sale under C nm A me 6 exgcutigni gre; applied ig other cases. f 1 rt d ° ° °°P {LM nc. . co y o any mor e o ersona pro e ma e, oimsofmggl I acknowledged, ang Bled as providc-idalin thispchapter, ceri;)iBe<5l bv the recorder in whose office the same shall be Bled, mafy be read in evidence in any court in the district without further giroo of the execution of the original, if the original be lost or out o the power of the person _ _ wishing to use it. 0§§§§‘;{,§{,{’e’§{"“°“’ Sec. 319. Thguprovisions of the foregoing sections of this chapter shall extend to such bills of sale, deeds o trust, and other convey- ances of goods, chattels, or personal property as shall have the effect of a mortgage or lien upon such property. F°**=°*°¤*"°- Sec. 320. An action or the forec osure of a mortgage of personal property, or the enforcement of any lien thereon, of whatever nature, may be commenced and conducted in the same manner as rovided by law for the foreclosure of mortgages and liens upon reall roperty, and the same may be joined in an action for the recover ofp the possession of the property mortgaged; but it is lawful for tlie mortgagor of personal property to insert in his mortgage a clause authorizing the · marshal to execute the power of sale there1n granted to the mort ee, his legal resresentative and assigns, in wh1ch case the marsggg at the time of efault, at the request of the mortga ee, must, and it is hereby made his duty to, advertise and sell the wiole or any part `of the mortgaged property, wherever it may be, andathe mortgagee or his regresentative or assigns mav, in good faith, purchase the property so sol, or any part thereof. The marshal may require an indemnity bond from the mortgagee or his assigns before taking possession of or selling the mortgaged proggerty. ` g§;;i¤f¤°**°¤ °*m°"· Sec. 321. Whenever the de t or obligation secured by ang mortgage ` of personal property which has been ii ed in the office of the recorder