486.11 Mortgage lien; certificate, contents, recording.

232 words·~1 min read·/mi/chapter-486/486-11

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Sec. 11.

After such mortgage-lien shall have attached to such interest in such canal and water-power, the secretary of such association shall make a certificate in writing, to be signed by him, and countersigned by the president, which certificate shall state

First. The amount of such assessment or assessments;

Second. That the work for which such assessment was made has been done;

Third. The time when the same became a lien;

Fourth. A description of the property or interest upon which such assessment was made;

Fifth. The amount due thereon, together with the costs made thereon, which certificate shall be verified by the affidavit of such secretary, or some member of the board of directors, and shall be recorded and indexed by the register of deeds of the county in which such water-power is situated, in the books for mortgage, the same as if it were a mortgage given by the owner of the interest so assessed, and such record, or a certified copy thereof, shall be notice and evidence to the same intent, extent, and for the same purpose as a mortgage so recorded.

History: 1863, Act 232, Eff. June 22, 1863 ;-- Am. 1871, Act 90, Imd. Eff. Apr. 12, 1871 ;-- CL 1871, 2755 ;-- How. 3884 ;-- CL 1897, 6777 ;-- CL 1915, 8877 ;-- CL 1929, 11812 ;-- CL 1948, 486.11