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p. 15
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withstanding: But if Default shall be made, or suffered, by any of
the said Mortgagers or Obligors, their Heirs, Executors or Ad-
ministrators, of or in Payment of any of the said Yearly Payments
or Sums, whether in Part of the Principal or Interest, which they or
any of them should have paid, on the Days and Times, and in
Manner and Form, as in and by their respective Deeds of Mortgage
or Obligations shall be specified, it shall and may be lawful, to and
for the said Trustees, for the Time being, at their Discretion,
either to take their Remedy by Course of Law, as herein above
directed; and proceed to take the mortgaged Lands and Heredita-
ments in Execution, as herein before mentioned, within Two Months
next after the Days whereon the same ought to be paid, according to
the several Provisoes or Conditions in their Deeds or Obligations re-
spectively contained, and to enter upon the Lands, Houses, Rents,
and Hereditaments, in the same Deeds specified, and expose the same
to a Publick Sale; and thereupon sell and convey the same Lands,
Hereditaments, and Premises, to the best Purchaser; and out of the
Money arising by such Sale, detain and keep the Monies to them due
thereon, to the Uses and Purposes aforesaid, and all Costs and
Charges relating thereto; returning the Overplus, if any be, to the
Owners of such Lands and Hereditaments; and that then, and in
such Case, the Owners of such Lands and Hereditaments shall stand
absolutely foreclosed from all Equity of Redemption of the same; or
to proceed on any such Obligation or Obligations, as upon a Statute-
Merchant, or of the Staple; and that no Sale, which shall be made bv
Virtue of this Act, shall be extended to create any farther Estate to
the Vendees, than the Lands or Hereditaments, so sold or delivered,
shall appear to be mortgaged for, by the said respective Mortgages,
or defeasible Deeds.
Provided also, That it shall and may be lawful, to and for the
said Commissioners or Trustees of the Office aforesaid, or any Two
of them, to let out upon Loan, in such Manner as they shall think
best, any Sum of the said Bills of Credit, upon Security of good
Plate; to be delivered to them, at the Value of Five Shillings current
Money of America, per Ounce, and at the Interest of Four per Cent,
per Annum; to be paid in again to the said Trustees, within the
Space of Twelve Months; and in Case of Non-payment, to sell and
dispose of the said Plate, for the most it will yield: returning the
Overplus, if any be, to the Owner thereof, after Payment of the
Principal and Interest, with the Charges.
Provided always, That if any Person or Persons, who shall take
up or borrow any of the said Bills of Credit, upon Mortgage or other
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