may be had the first court after the court at which the defendant first appear. ed to the fame action. [The 24th claufe of this act is repealed, 11th feff. ch. 20. fec. 5.] XXV. And be it enacted by the authority aforefaid, That Where the loan the respective loan-offices in this ftate, fhall be kept at the offices are to be kept. court-houfe of each refpective county, or at fome other convenient place near the fame, except that the loan-officers for the county of Orange fhall meet alternately at Gofhen, and at the New-City, in the faid county, and their first meeting to be at the court-house in Gofhen; and the faid loan-officers fhall, fo foon as the faid bills are figned and delivered to them, fet up advertisements of the firft day of their attending the loan-office for the purposes herein before mentioned, and fhall duly attend the fame on that first day, and on every Tuesday and Wednesday in each week, for the fpace of four weeks thereafter, if there be occafion of their fitting fo long; and the faid treasurer, fo foon as he can fix the day upon which he can deliver the faid bills to the loan-officers, fhall fend notice by letter to them to come and receive the bills at that day. tain their falaries out pay the remainder annually to the trea Tucfday in August. furer, by the last XXVI. And be it further enadled by the authority aforefaid, Loan-others to re- That the loan-officers refpectively fhall retain in their hands, of the intereft, and fo much of the intereft monies paid in to them as will pay them their respective falaries appointed by this act; any thing in this act to the contrary notwithstanding; and the remainder of the faid intereft monies fhall be annually paid to the treasurer of this ftate, on or before the last Tuesday of the month of Auguft; and the faid treasurer's receipt fhall be to the faid loan-officers, and every of them, their heirs, executors and administrators, a fufficient difcharge. XXVII. And be it further enaced by the authority aftrefaid, That the yearly falary of the loan-officers aforefaid, for the fervices required of them by this act, fhall be as follows; to wit: For every of the loan-officers of the county of New-York, forty pounds. thirty pounds. ten pounds. fixteen pounds. fifteen pounds. ten pounds. fifteen pounds. twenty pounds. fifteen pounds. eighteen pounds. fixteen pounds. ten pounds. XXVIII. And be it further enacted by the authority aforefaid, That the fupervisors and judges aforefaid of the feveral counties of this ftate, fhall, on the first Tuesday in October, which will be in the year of our Lord one thoufand feven hundred and eighty-feven, and yearly thereafter, on the first Tuesday in October, meet together with the faid loan-officers at the courthoufe of the county; and the majority of the fupervifors, with one or more of the judges aforefaid, fhall carefully infpect and examine the mortgages, minutes and accounts of the loan-officers; and if it be found that any loanofficer or loan-officers has or have refufed or neglected to perform the duties Kk enjoined upon him or them by this act, the faid judges and fupervisors fhall elect a loan officer or loan-officers, in the ftead of fuch who fhall fo have refufed or neglected as aforefaid; and if any deficiency has happened by borrowers not having right to the lands mortgaged, or by the felling thereof for a lefs price than what is before mentioned, or otherwife; then the faid fupervisors, or a majority of them, with the concurrence of one or more of the faid judges, fhall caufe all fuch deficiencies to be affeffed and levied in the county as other county charges, fo that the whole of fuch deficiencies be paid to the faid loan-officers, by the third Tucfday of June then next following. XXIX. And be it further enaded by the authority aforefaid, That in cafe one or more of the faid judges, and a majority of the fupervisors aforefaid, fhall not meet on the fecond Tuesday in May next; or in cafe they fall not meet yearly on the firft Tuesday in October; or in cafe they fhall not meet when fummoned by a precept of one or more of the faid judges, for the feveral purposes in this act mentioned; every of them, in either of thefe cafes, that are abfent (unless detained by fickne's) hall forfeit the fum of two pounds; and the judge or judges then attending, fhall iffue his or their precept to one or more conflables, to fummon the judges and fupervifors to attend on that day week, for the purposes aforefaid, under double the penalty aforesaid, which each neglecting then to attend, if duly funmoned, fhall alto forfeit, although a fufficient number do appear; and in cafe a fufficient number do not then appear, the judge or judges appearing fhall proceed in the like manner, from week to week, until a full number of fuper vifors do appear to perform the duty for which they before ought to have met: And in cafe the faid fupervifors, or either of them, when a majority of them are met, fall neglect or refufe to do the duty enjoined on him or them by this act, when met; or fhall, on any pretence whatsoever, on the day of their annual meeting, neglect or omit the caufing to be affeffed, levied, and raised, the whole deficiencies that have happened by any of the means aforefaid, every of them neglecting their duty herein, fhall forfeit to the people of this flate, the fum of five pounds: All which penalties before in this claufe mentioned, are to be recovered before any one of the juftices of the peace within the county where fuch forfeiture fhall arife; one half to the ufe of fuch judge or judges, and supervisors of the fame county, endeavouring to perform their duty herein, who will fue and inform against the others, and profecute their fuit to effect; and the other half to the treafurer of the state, and be applied towards cancelling the bills of credit, in fuch manner as fhall be directed by act or acts of the legiflature. XXX. And be it further enacted by the au hority aforesaid, That all and every the fums of money which may at any time afterwards be recovered by the loan-officers aforefaid, of fuch perfons as have been the occafion of fuch deficiencies as aforelaid, fhall be applied to the ufe of fuch county; And the judge or judges and fupervisors are hereby empowered to take all lawful ways and means, in the name of the faid loan-officers, to recover the fame. upon fecurity of plate, XXXI. And be it further enocled by the authority aforefaid Loan officers to lend That it fhall and may be lawful for the faid loan officers to at 6s. per ounce. let out upon loan, any of the faid bills of credit, in fuch manner as they shall think beft, upon fecurity of good plate, to be delivered to them at fix fhillings per ounce, to be paid to the faid loan-officers on the third Tuesday in June, annually, then next, with a year's intereft at five per cent. for the fame; and in cafe of non-payment at any of the three flated days of meeting of the loan-officers, then the faid loan-officers are to fell the fame plate in fuch manner, and upon the fame day as they are directed to fell the lands of the mortgagors forfeited as aforefaid; and they are to return the overplus, if any be, to the owner, after payment of the principal and charges, with intereft paft and to come, until the third Tuesday of June then next, unless a borrower offers at the time of fale, as in cafe of lands herein before mentioned; any thing in this act to the contrary notwithlanding. weeks in the hands of be lent in fans above XXXII. And be it further enaca d'by the auth muy afore jaid. Bills remaining four That if any monies fhall remain in the hands of the loan-ofthe loan-officers, may ficers, for want of borrowers, four weeks after the firil day appointed for letting it out, it fhall be lawful for them to let out the fame on good fecurity, by mortgage of lands in the county, or on plate, as aforefaid, to any perfon who will borrow the fame, in any fums, though they be upwards of three hundred pounds. XXXIII. And be it further enacted by the authority aforesaid, That if any of the bills of credit fhall remain four weeks over and above the four weeks aforefaid; that is to fay, in all eight weeks, in the hands of the loan-officers for want of borrowers, after the first day appointed for letting out as aforefaid, then, and in that case, the said loan-officers, or one of them, by confent of the other, to be entered and figned in the minute-book of proceedings, fhall carry it to the loan-officers of the next county or counties, where there were more monies demanded in loan than there were monies to lend, and deliver it to the loan-officers of fuch next county or counties, upon their receipts for the fame, and their entering a memorandum of it in the minutes of their proceedings; which loan-officers to whom fuch fum is brought, hall accept thereof, and shall set up advertisements thereof, and therein align a day in the next week for borrowers to offer, and fhall proceed in the lending fuch further fum in their county, as nearly as circumitances will admit, in the like manner as they proceeded in lending the first fum; of which tranfpofition of thofe monies, the loan-officers of the feveral counties fhall give notice in writing, figned by them, to the treafurer, at the time of their paying to him the firit intereft monies thereafter; of which notices to him he fhall enter memorandums in his book of accounts, the better to ascertain the intereft he is to receive yearly from the refpective counties, and the principal fums that the counties are finally to cancel. XXXIV. And to prevent frauds that may happen by executors, in their non-payment of any part of the money borrowed as aforefaid, by their refpective teflators; Be it further enacted by the authority aforesaid, That if Thall pay the mort Where executors any perfon or perfons who fhall become a borrower or gaze-money out of the borrowers of the bills iffued by virtue of this act, shall afterperfona! eftate, wards make his, her or their laft will and teftament, in due form of law, thereby devifing the premises fo mortgaged, to any other perfon or perfons, leaving perfonal eftate fufficient to pay his or her debts, with an overplus not otherwife in the faid will difpofed of, and not expressly providing in other manner by the faid will, in fuch cafe it fhall be underflood, that the devifor intended that the mortgage-money in arrear at the time of his death, fhould be paid out of his perfonal eftate, and his executor or executors fall accordingly be compelled to pay the fame thereout, in aid of fach devifee or devifees: But in cafe the faid laft will was made before the premiles were mortgaged, then it fall be understood that the tellator's incor was (unless otherwife expreffed in fuch will) that the device or devices should pay the refidue of the mortgage-money in arrear at the time of fuch teftator's death: And in cafe any executor or executors, contrary to the intent of this act, having effects fufficient, fhall permit a fale to be made of the premises mortgaged; fuch devifee or devifees may immediately have his, her or their action, either in proper person or by guardian, or next friend, if under age, against fuch executor or executors, and recover double the damages sustained, with cofts of fuit; and in cafe any executor or executors fhall, in fuch case, be a purchafer of the premises fo mortgaged, or any other in truft for him, or for his ufe, he or they shall be deemed feifed of the premises for the use of the devisee or devifees; and fuch executor or executors, and their trustee or trustees, are hereby difabled from making any conveyance thereof from fuch devifee or devilees; and if any fuch conveyance is made, the fame is hereby declared fraudulent and void against fuch devifee or devifees. XXXV. And be it further enacted by the authority aforesaid, Swearing or affirm- That if any perfon fhall falfely fwear or affirm in any of ing falfely, or acting contrary to any oath the cafes where an oath or affirmation is required to be taor affirmation required by this act, declar- ken by this act, or shall wilfully or knowingly act contrary to the oath or affirmation he has before taken, fuch offence is hereby declared to be perjury, and the offender, being convicted thereof, fhall fuffer the pains and penalties of perjury. ed perjury. XXXVI. And be it further enacted by the authority aforefaid, That the respective loan-officers within this ftate, for the time being, fhall permit any person or persons, at feasonable times, to fearch and view the books of mortgages in their hands and cuftody, upon their paying one fhilling for the fearch; and the entry of the refpective mortgages in the books of the faid loan-offices, fhall have the like priority, operation and effect, as if fuch mortgages were registered in the clerk's office of the county in which the lands mortgaged lie. XXXVII. And be it further enacted by the authority aforefaid, That for the greater uniformity in the fecurities to be taken in the loan-offices for the money to be lent by virtue of this act, the mortgages fhall be in the form following, to wit: The form of mort gages. and THIS INDENTURE, made the day of in the year of our Lord one thousand feven hundred between the loan-officers of the faid county of eth, That the faid to him well and truly by the loan-officers of the faid county of paid, hath granted, bargained, fold, releafed, enfeoffed and confirmed, and by thefe prefents doth grant, bargain, fell, releafe, enfeoff and confirm to the loan-officers of the and their fucceffors and affigns for ever, All that of . together with all and all manner of improvements, hereditaments and appurtenances whatsoever to the fame belonging, or in any wife appertaining; and all the eftate, right, title, intereft, claim and demand of the faid to the above bargained premifes, and every part thereof: To have and to hold the above bargained premifes, to the loan-officers of the county of their fucceffors and affigns forever, to the ufes and purposes mentioned in an act of the legiflature of the fate of New-York, entitled, An act for emitting the fum of two hundred thousand pounds in bills of credit, for the purposes therein mentioned: And the faid of for himself, his heirs, executors and adminiftrators, doth covenant, grant and agree to and with the faid loan-officers of the and their fucceffors, that at and before the time of the enfealing and delivery hereof, the faid was lawfully feifed of the above bargained premifes, of a good, fure, perfect, abfolute and indefeasible eftate of inheritance in the law, in fee fimple, and that the fame now are free and clear of all former and other gifts, grants, bargains, fales, leafes, releafes, judgments, extents, recognizances, dowers, and other incumbrances whatsoever. Irovided always, and these presents are upon this condition, That if the faid of cent. of the faid principal fum of heirs, executors, adminiftrators or affigns, do pay, or caufe to be paid to the loan-officers of the the intereft at the rate of five per on the third Tuefday of June yearly, until the third Tuesday of June, which will be in the year of our Lord one thousand seven hundred and ninety, inclufive; and if the faid heirs, executors, adminiftrators or affigns, fhall pay to the loan-officers of the of the one tenth part of the faid principal fum of on the third Tuesday of June, which will be in the year of our Lord one thousand feven hundred and ninety-one, together with the intereft then due on the faid principal sum of and one other tenth part of the faid principal fum, on the third Tuefday of June, which will be in the year of our Lord one thousand feven hundred and ninety-two, together with the intereft then due; one other tenth part of the faid principal fum, on the third Tuefday of June, which will be in the year of our Lord one thousand feven hundred and ninety-three, together with the intereft then due; one other tenth part of the faid principal fum, on the third Tuesday of June, which will be in the year of our Lord one thousand seven hundred and ninety-four, together with the intereft then due; one other tenth part of the faid principal fum, on the, the third Tuesday of June, which will be in the year of our Lord one thoufand feven hundred and ninety-five, together with the intereft then due; one other tenth part of the faid principal fum, on the third Tuesday of June, which will be in the year of our Lord one thousand seven hundred and ninety-fix, together with the intereft then due; one other tenth part of the principal fum, on the third Tuesday of June, which will be in the year of our Lord one thoufand feven hundred and ninety-feven, together with the intereft then due; one other tenth part of the faid principal fum, on the third Tucfday of June, which will be in the year of our Lord one thousand feven hundred and ninety-eight, together with the intereft then due; one other tenth part of the faid principal fum, on the third Tuesday of June, which will be in the year of our Lord one thonfand feven hundred and ninety-nine, together with the intereft then due; and the remainder of the faid principal fun, on the third Tuefday of June, which will be in the year of our Lord one thoufand eight hundred, together with the intereft then due thereon, according to the true intent and meaning of the faid act; then the above grant, bargain and fale, and every article and claufe thereof, fhall be void: But if failure be made in any of the payments above-mentioned, then the above bargain and fale is to remain in full force and virtue. And the faid heirs and affigns, agree to be abfolutely barred of all equity of redemption of the premises, at the expiration of twenty-two days after fuch failure. And the faid executors and adminiftrators, heirs, covenant, grant and agree to and and their fucceflors, well and truly to pay to them, all and every of the fums of money above-men |