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as mortgages and deeds are to prevent frauds directed by law to
be acknowledged and recorded, shall be good and valid, and
shall stand and be a security, according to the purport and
intent thereof, for a compliance on the part of the mortgagor,
his heirs, executors and administrators, with the terms and con-
ditions of such mortgages, and that although there should be no
covenant or express agreement contained in such mortgage for
the payment of such principal money and interest, the mortgagor,
his heirs, executors and administrators, shall be bound to pay
the principal money and interest, as if express covenants were
contained in the deed of mortgage for that purpose.
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SEC. 3. And be it enacted. That if the mortgagor, his heirs,
executors or administrators, shall not pay the principal money
and interest, agreeable to the purport and intent of any such
mortgage, the court of chancery may and shall, as speedily as
the case will permit, foreclose such mortgagor, his heirs, execu-
tors, administrators and assigns, of their equity of redemption
in the mortgaged premises, and order and direct a sale thereof,
or of such part as may be necessary to raise and satisfy all prin-
cipal and interest due, with costs, and if any part of the mort-
gaged premises remains unsold, by order to reinstate the mort-
gagor, or person entitled under him, whose former legal estate
shall be restored by virtue of such order and this act; but if
sufficient cannot be raised by such sale, then the court of chan-
cery may and shall decree the balance to be paid by such mort-
gagor, his heirs, executors or administrators, and by process
compel a full compliance with such decree ; and this legislature
plight and engage the faith and honour of this state, that in no
event, (even in the case of war, if such should unhappily take
place,) will the legislature interfere, or prevent in any degree
this course of justice, on any foreign loan made on any such
security, but the courts of justice shall remain open, and any
foreigner receiving or recovering his money, may freely carry
the same out of this state.
CHAPTER 75.
AN ACT to authorize the issuing grants for the lands therein mentioned.
Supplementary and other acts, 1785, ch. 67; November, 1787, ch. 32.
This law was restricted to a limited description of the public domain.
NOVEMBER, 1785.— CHAPTER 1.
AN ACT to approve, confirm and ratify, the compact made by the commis-
sioners appointed by the general assembly of the commonwealth of Vir-
ginia, and the commissioners appointed by this state, to regulate and
settle the jurisdiction and navigation of Patowmack and Pocomoke
rivers, and that part of Chesapeake bay which lieth within the terri-
tory of Virginia.
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Court of
chancery
may fore-
close, &c.
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