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The Maryland Code : Public General Laws and Public Local Laws, 1860
Volume 145, Page 445   View pdf image (33K)
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ART. 64.] MORTGAGES. 445

2. No mortgage or deed in the nature of a mortgage shall be a
lien or charge on any estate or property for any other or different
principal sum or sums of money than the principal sum or sums
that shall appear on the face of such mortgage, and be specified
and-recited therein, and particularly mentioned and expressed to
be secured thereby at the time of executing the same; this not to
apply to mortgages to indemnify the mortgagee against loss from
being endorser or security.

3. Whenever lands are sold and conveyed, and a mortgage is
given by the purchaser at the same time to secure the payment
of the purchase money, such mortgage shall be preferred to any
previous judgment which may have been obtained against such
purchaser.

4. The mortgagor in any deed of mortgage in addition to the
usual covenants, may covenant for the payment of all taxes,
assessments, public dues or charges, levied or to be levied by law
on the mortgage debt created or secured by such mortgage.

5. In all mortgages there may be inserted a clause authorizing
the mortgagee, or any other person to be named therein, to sell
the mortgaged premises, whether lands or goods and chattels,
upon such terms and on such contingencies as may be expressed
therein.

6. Before any person so authorized shall make any such sale,
he shall give bond to the State in such penalty and with such
security as shall be approved by the judge or clerk of a court
of equity of the city or county in which the mortgaged premises
lie, or in case of goods and chattels where the same may be, to
abide by and fulfil any order or decree which shall be made by
any court of equity in relation to the sale of such mortgaged
property, or the proceeds thereof, and such bond shall be and
remain as an indemnity to and for the security of all persons
interested in such mortgaged property or the proceeds thereof,
and be subject to be sued as other bonds taken in the name of
the State, and subject to the same limitations and disabilities as
such other bonds.

7. In all sales made in pursuance of such authority there shall
be given such notice as may be stated in such mortgage, or if
there be no agreement as to notice, then the party offering the
same for sale shall give twenty days' notice of the time, place

 

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The Maryland Code : Public General Laws and Public Local Laws, 1860
Volume 145, Page 445   View pdf image (33K)
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