the-ordinances-of-the-legislative-counci-1890v2 — Page 85

TRAMWAYS . [ 6 of 1883. ) 675


109. If, upon such payment or tender as aforesaid being payment into
made, any such mortgagee fail so to assign his interest in such mou
Courtesofwhen
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mortgage , or to adduce a good title thereto to the satisfaction refused on
of the company, or if he be absent from the Colony,whether tender.
01
temporarily or permanently, or in hiding, or cannot after diligent
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enquiry be found, it shall be lawful for them to pay the amount
or value or compensation into Court, in the manner provided
by this ordinance in like cases, and every such payment shall
be accepted by the mortgagee in satisfaction of liis mortgage
debt, so far as the same will extend, and shall be a full discharge
of such mortgaged lands from all money due thereon ; and it
shall be lawful for the company , if they think fit, to prepare a
1 deed of conveyance, assignment, or assurance and release of such
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mortgaged lands to themselves , and to tender such deed , after
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the same shall have been duly stamped as required by law , to
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the Registrar for execution on behalf of the mortgagee and other
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( 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,
as to all such estate and interest as were then vested in the
mortgagee or any person in trust for him , shall become abso
lutely vested in the company, and they shall be entitled to
immediate possession thereof in case such mortgagee were himself
entitled to such possession ; nevertheless all rights and remedies
possessed by the mortgagee against the mortgagor, by virtue
of any bond, or covenant, or other obligation, other than the
right to such lands, shall remain in force in respect of so much
of the mortgage debt as shall not have been satisfied by such
payment or deposit.
110. If a part only of any such mortgaged lands be required sum to be
for thepurposes of this ordinance, and if the part so required part only"or
of
be of less value than the principal money interest and costs mortgager?
secured on such lands , and the mortgagee shall not consider the landstaken..
remaining part of such lands a sufficient security for the money
charged ihereon, or be not willing to release the part so required,
then the value of such part, and also the conpensation ( if any )
to be paid in respect of theseverance thereof or otherwise, shall
be settled by agreement between the mortgagee and the party
entitled to the equity of redemption of such land on the one
part, and the company on the other, and if the parties aforesaid
fail to agree respecting the amount of such value or compensa
tion , the saine shall be determined , as in other cases of disputed
compensation ; and the amount of such value or compensation,
being so agreed upon or determined,shall be paid by the com
pany to such mortgagee in satisfaction of his mortgage debt so
far as the same will extend ; and thereupon such mortgagee