A.D. 1883.
determined, or as it may impassionate it thereto, the Colony, after dili- to pay the payment mortgage charge of the due thereon.
to prepare a such last- 1, after the Registrar for e assuring in order of execute the
Company, as
mortgagee or s himself immediate have the
ent of the 1 and the nich mort- rposes of ded to for
ole of the
einbefore mortgage ey there-
the mort- ioney, or Company
s been so .ch mort- tment of xed, and
h respect
A.D. 1883.]
TRAMWAYS.
[No. 2.
423
(2.) If the rate of interest secured by such mortgage is higher than, at the time of the same being so paid off, can reasonably be expected to be obtained on re-investing the same, regard being had to the then current rate of interest allowed by the Court, such mortgagee shall be entitled to receive from the Company, in addition to the principal and interest hereinbefore provided for, compensation in respect of the loss to be sustained by him by reason of his mortgage money being so prematurely paid off, the amount of such compensation to be ascertained, in case of difference, as in other cases of disputed compensation.
(3.) Until payment or tender of such compensation as aforesaid, the Company shall not be entitled, as against such mortgagee, to possession of the mortgaged lands under the provisions hereinbefore contained: Provided that the Court or a Judge may order such payment or tender to be dispensed with, if it or he thinks fit to do so, and such mortgage money and compensation to be paid into Court, and, on such payment being made, the Company shall be entitled, as against such mortgagee, to possession of the mortgaged lands under the powers hereinbefore contained.
Rent-charges.
113. If any difference arises between the Company and the party entitled to any rent-charge, or chief or other rent, or other payment or lands from incumbrance not hereinbefore provided for, upon any of the lands mentioned in the said Fourth Schedule, and required to be taken for the purposes of this Ordinance, respecting the consideration to be paid for the release of such lands therefrom or from the portion thereof affecting the lands required for the purposes of this Ordinance, the same shall be determined as in other cases of disputed compensation.
114. If part only of the lands charged with any such rent-charge, chief or other rent, payment, or incumbrance is required to be taken for the purposes of this Ordinance, the apportionment of any such charge may be determined by agreement between the party entitled to such charge and the owner of the lands on the one part and the Company on the other part, and if such apportionment is not so determined by agreement, the same shall be determined by the Court or a Judge upon petition in a summary way, but if the remaining part of the lands so jointly subject is a sufficient security for such charge, then, with the consent of the owner of the lands so jointly subject, it shall be lawful for the party entitled to such charge to release therefrom the lands required, on condition or in consideration of such other lands remaining exclusively subject to the whole thereof.
115.-(1.) On payment or tender of the compensation so agreed upon Payment into