168

LAWS OF MARYLAND.

building already commenced on the said lot of
land, the1 said association or lodge, by its said cor-
porate name, shall have power to borrow any sum
of money not exceeding twenty thousand dollars,
to be secured by certificates of loan, ia sums of
twenty-five dollars each, signed by the Treasurer,
and attested by the Secretary, under its corporate
seal, and bearing an interest of six per centum
per annum, not to be used as currency, but trans-
ferable only on the books of the said corporation,
the payment of such certificates of loan and the
interest thereon, to be further secured to the hold-
ers thereof, by a mortgage or a deed of trust of
the aforesaid lot of land, and the building to be
erected thereon, the annual rents and revenues of
which shall be pledged: first, to the payment of the
interest on the said certificates of loan semi-annu-
ally; and secondly, to the full redemption thereof,
at such time or times as may be agreed upon and
stipulated in the said certificates of loan, and in
the said mortgage or deed of trust.

Authorized to
sell.

Sec. 3. And be it enacted, That in case the said
corporation or lodge, shall not be able, to negoti-
ate the said certificates of loan to the amount ne-
cessary to complete their proposed hall or build-
ing before the first day of June next, then it shall
be lawful for the said corporation or lodge, and it
is hereby authorized and empowered to make sale
of, and convey the said lot of land now held by
it under the aforesaid deed of the said Francis A.
Ellis and wife, and the said articles of association
or incorporation, to such person or persons as may
be disposed to purchase the same, and to apply
the money derived therefrom to the purchase of
such other lot or building, as may be necessary
for the uses and benevolent purposes of the said
order, which said other property the said lodge is
hereby authorized to hold, possess and enjoy to
them and their successors, or if it shall be deemed
by the members of said corporation or lodge more
expedient for them, and the purposes of their as-
sociation, it shall be lawful for the said lodge in
any sale and conveyance that may be made of said
lot of land now held by them, to stipulate for and
reserve to their own use, such room or rooms in
any building erected thereon, as may be necessary
for their meetings or the purposes of their associa-