the-ordinances-of-the-legislative-counci-1890v3 — Page 346

ORDINANCE No. 1 OF 1882 . 1629


Tramways.


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 ..

116. Provided always, that, in any of the cases hereinbefore provided with respect Compensation to
be made in
certain cases, if
to lands subject to mortgage, if in the mortgage deed a time shall have been limited for mortgage paid
off before the
payment of the principal money thereby secured, and under the provisions hereinbefore stipulated time.
contained , the mortgagee shall have been required to accept payment of his mortgage
money, or of part thereof, at a time earlier than the time so limited, the company shall
pay to such mortgagee, in addition to the sum which shall have been so paid off, all such
costs and expenses as shall be incurred by such mortgagee in respect of, or which shall
be incidental to, the re-investment of the sum so paid off, such costs in case of difference
to be taxed, and payment thereof enforced , in the manner herein provided with respect
to the costs of assignments ; and if the rate of interest secured by such mortgage be
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 ; and 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.


Rent-charges.


117. If any difference shall arise between the company and the party entitled to any Release oflands
from rent
such charge upon any of the said lands mentioned in the said schedule D. , and required charges.
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.


118. If part only of the lands charged with any such rent-charge, chief or other Release ofpart
oflands from
rent, payment or incumbrance, be required to be taken for the purposes of this Ordi charge.
nance, the apportionment of any such charge may be settled 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 be not so settled by agreement ,
the same shall be settled by a Judge in Summary Jurisdiction ; but if the remaining
part of the lands so jointly subject be a sufficient security for such charge, then, with
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.