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COMMISSIONERS CLAUSES ACT 1847 - SECT 75

Mortgages of rates, &c.

75. Every mortgage or assignation in security of rates or other property
authorized to be made under the provisions of this or the special Act shall be
by deed duly stamped, in which the consideration shall be truly stated; and
every such deed shall be under the common seal of the commissioners, if they
be a body corporate, or, if they be not a body corporate, shall be executed by
the commissioners, or any five of them, and may be according to the form in
the schedule (B) to this Act annexed or to the like effect; and the respective
mortgagees or assignees in security shall be entitled one with another to
their respective proportions of the rates and assessments or other property
comprised in such mortgages or assignations respectively, according to the
respective sums in such mortgages or assignations mentioned to be advanced by
such mortgagees or assignees respectively, and to be repaid the sums so
advanced, with interest, without any preference one above another by reason of
the priority of advancing such monies, or of the dates of any such mortgages
or assignations respectively.

© 1847 Crown Copyright

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