Page:United States Statutes at Large Volume 57 Part 1.djvu/31

 PUBLIC LAWS-CH. 14-MAR. 10, 1943 for value without actual notice, only from the time of the filing for record in the office of the county auditor of the county or counties in which the lands affected are located of a copy thereof authenticated in the manner authorized by law. Such filing shall impart legal notice to the public of the matters and things set out therein. Fraudulent misrep- "SEC. 3 . (a) Fraudulentisrepresentation as to the true consid- r useneationof consed- eration. eration involved in the conveyance of, or contract to convey, any freehold estate in land covered by a recordable contract made under subsection 2 (c) hereof, in the affidavit required by that subsection Penalty. shall constitute a misdemeanor punishable by a fine not exceeding $500 or by imprisonment not exceeding six months, or by both such fine and imprisonment. cess of appraised (b) Should any freehold estate in lands subject to the recordable value. contract made under subsection 2 (c) hereof be conveyed or con- tracted to be conveyed, after the date of execution of such record- able contract and within five years from the time water becomes available for such lands, at a consideration in excess of the appraised value of said estate, the transaction, and any mortgage or other lien covering any deferred consideration thereunder. shall be invalid and unenforceable by the vendor or grantor, his successors or assigns as Transaction involv- to that part of the consideration in excess of the appraised value of g deferred pay- the estate involved. In the case of any such transaction involving ments. deferred payments, said invalid portion of the consideration shall be deducted first from the deferred payments in the inverse order of their due dates. Recovery of certain their due dates excess payments. "The vendee or grantee in any such transaction, at any time within two years from the date of any such conveyance or contract and on filing a correct affidavit as required in subdivision 2 (c) (ii). may recover from the vendor or grantor, or the successors or assigns thereof, an amount equal to the payments made in excess of the appraised value. Court costs and at- aras . Court costs and n connection with any judgment or decree hereunder in favor of a vendee or grantee, said vendee or grantee shall have the right to Adinstraton. recover court costs and reasonable attorneys' fees. Po, p. 20s. "SEC. 4. (a) For the purposes of assisting in the permanent settlement of farm families, protecting project land, facilitating project development, and preventing speculation in project lands, the .e cr etaryis authorized to administer public lands of the United States in the project area and lands acquired under this section; to sell, exchange, or lease such lands; to establish town sites on such lands: to dedicate portions of such lands for public purposes in keeping with sound project development: to acquire in the name of the United States. at prices satisfactory to him, such lands or interest in lands. within or adjacent to the project area, as he deems appropriate for the protection, development, or improvement of the project: to accept donations of real and personal property for the purposes of this Act: and to disseminate information by appropriate means and methods. Any moneys realized on account of donations for purposes of this Act shallbe covered into the Treasury as trust funds. changes, leases. "(b) Contracts, exchanges, and leases made under this section, shall be on terms that, in the Secretary's judgment, are in keeping with sound project development. In addition, land sale contracts shall be on a basis that, in the Secretary's judgment, provides for the return in a reasonable period of years of not less than the appraised value of the land and improvements thereon. Qalifiatonsoap- "Qualifications of applicants for the purchase of land for irriga- .tion farming shall be prescribed as provided in subsection C of section 43 U S.C. 1 43; 4 of the Act of December 5, 1924 (43 Sta. 702),notwithstanding any other provisions of law. 18 [57 STAT.

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