676 [ 6 of 1883. ] TRAMWAYS .
shall assign or release to them , or as they shall direct, all his
interest in such mortgaged lands the value whereof shall have
been so paid ; and a memorandum of what shall have been so
paid shall be endorsed on the deed creating such mortgage, and
shall be signed by the mortgagee ; and a copy of such memo
randum shall at the same time ( if required ) be furnished by the
company at their expense to the party entitled to the equity of
redemption of the lands comprised in such mortgage deed..
Payment into 111. If, upon payment or tender to any such mortgagee of the
Court of
money when amount of the value or compensation so agreed upon or deter
refused on
tender . mined, such mortgage shall fail to assign or release to the
company, or as they shall direct, his interest in the lands in
respect of which such compensation shall so have been paid or
tendered , or if he shall fail to adduce a good title thereto to the
satisfaction of the company, or if he be absent from the Colony,
whether temporarily or permanently, or in hiding, or cannot
after diligent enquiry be found , it shall be lawful for the
company to pay the amount of such value or coinpensation into
Court, and such payment shall be accepted by such mortgagee
in satisfaction of his mortgage debt, so far as the same will
extend , and shall be a full discharge of the portion of the
mortgaged lands so required from allmoney due thereon ; and
it shall be lawful for the company, if they think fit , to prepare
a deed of conveyance, assignment or assurance and release of
such last mentioned mortgaged lands to themselves, and to
tender such deed , after the same shall have been duly stamped
as required by law , to the Registrar for execution on behalf of
the mortgagee and other (if any) the assuring and releasing
parties, and thereupon the Registrar shall, upon an order of the
Court to be obtained upon petition in a summary way, execute
the same,, and such lands shall become absolutely vested in the
company, as to all such estate and interest as were then vested
in the mortgagee, or any person in trust for him , and in case
such mortgagee were himself entitled to such possession they
shall be entiiled to immediate possession thereof; nevertheless
every such mortgagee shall have the same powers and remedies
for recovering or compelling payment of the mortgage money
or the residue thereof (as the case may be ) and the interest
ther of respectively, upon and out of the residue of such
mortgaged lands, or the portion thereof not required for the
purposes of this ordinance, as he would otherwise have had or
been entitled to, for recovering or compelling payment thereof
upon or out of the whole of the lands originally comprised in
such mortgage.
Compensa 112. Provided always that in any of the cases hereinbefore
tion to be
marle in provided with respect to lands subject to mortgage, if in the