T. WATKINS LIGON, ESQUIRE, GOVERNOR

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the delivery of the same to the Treasurer, all the pre-
sent rights of the State of Maryland shall be maintain
ed in full force.

SEC. 2. And be it enacted, That the said consol-
idated company in the execution of said mortgage
hereinabove referred to, shall covenant and bind itself
to pay to the State of Maryland, from the date of the
execution of the same, an annuity of ninety thousand
dollars a year, payable into the Treasury of the State
in quarterly payments; and the said annuity shall be
subject to be extinguished at any time within ten years
hereafter upon the full payment of one million five
hundred thousand dollars, with all interest that may be
due by the said company, who shall have the privilege
of paying off the same in instalments of not less than
one hundred thousand dollars each, and of obtaining a
rateable reduction of the annuity, computing the same
at six per cent, on each payment so made.

Annuity.

SEC. 3. And be it enacted, That the mortgage here-
in above required to be given to secure said annuity,
shall contain the usual conditions in such deeds, with
a clause to authorise the sale of the mortgaged property
at any time after three months subsequent to a default
of the company to pay the whole amount of the annu-
ity, which may fall due in any one year; and upon the
execution of the said mortgage and its delivery to the
Treasurer; then the said Treasurer shall execute the
conveyance and release hereinabove mentioned; Pro-
vided, and it is hereby expressly declared, that the said
mortgage, so far as it shall comprehend and include
that portion of the road of the said consolidated com-
pany, which now belongs to the Baltimore and Sus-
quehanna Rail Road company, and which was here-
tofore mortgaged to the State of Maryland, shall be
entitled to the same priority in all respects which now
appertains to the existing mortgage on the property of
the said Baltimore and Susquehanna Rail Road com-
pany, and that the said mortgage so fur as it shall com-
prehend and include all that portion of the road of the
said consolidated company, not now belonging to the
Baltimore and Susquehanna Rail Road company, shall
be entitled, to a priority over any liens upon the same,
bearing date and recorded after the first day of March,
eighteen hundred and fifty-four, it being the intent of
this act in releasing to the consolidated company the
mortgage or mortgages heretofore given to the State by
the Baltimore and Susquehanna Rail Road company;
and taking another mortgage from the said consolidated

Conditions.