1543 ;· Harte 4é.-. Qpayeer ‘25'.•-SHIP MORTGAGE ACT.- · DEIllINlTIONS See. · __ ‘ eu; words aad terms aeed la chapter. · RECGRMNG GF SALES, CONYMANQES, ,AND MORTGAGES OF. 1 V Q · VESSELS OF THE _UNITEg STATES · · 921. Sale, eeareyaaee, or mortgage of veaeel of United States; record. eee; Preterred mortgages. `_ · ‘ __ _ · “ era. Certlded copier of mortgage; exhibition. ·, _ . - 924. Prior and rahmqaéat maritime liens on mortgag veaeel. 925. Record et notice of claim of Bea on mortgaged vessel ;— discharge ' Mellen.-, `_, ~ . 926. Coadltieaa precedent- to record: interest on preferred mortgage. * · · Ssfi'. Iaepectlea ot and copies {rom records; tees. - ‘ _O __ U 1 PENALTIES; _ 941.* Failure ot ‘mater to exhibit docamenta ;· unlawful acts by mort-` gagor; liability of collector ot customs. · _ ‘ " . FORldCLO$URE-GF PREFERRED MORTGAGES. I hdl. Idea of preferred mortgage; foreclosure; jurisdiction.} oprocedure. SSS. Receiver la foreclosure; poaeeesloa by marshal. .- 953. Preferred maritime lien.; priorities; other liens. _ 95;. Salts la peraoaam la admiralt: on default; · · h ·m.=xNs`FERS GFUMOBTGAGED UESSELS AND ASS1GNMENT.0F t “VESSEL HOSTGAGES t . · [ SG1. Sarreader of docamehta; termination of xnortgageew interest; ~ - sale ot mortgaged vessel. ” » ' ' MARITIHE MENS FOB l~mC,ESSARIES_ ell. entitled to liea. — — hw. Persons; authorised 0 to procure repairs, supplies, and neceaaarlcs. ‘ h'. Notice to person taraiahlng repairs, supplies, and neceasaries. _· ST4. Waiver of right to lien. - e · ( Q?5. State statutes aaperaeded. · MISCELLANEOUS PROVISIONS 931. Existing mortgages not aEected; ‘ 982. Books for collectors of cahtoms. _ · QSS. Hales and regulations by' Secretary ot Commerce. _ Sel. “Ship mortgage act.? V · · _ p QDEFINITIONUS __ _; ’ Section 911. Worda and terms aged in chapter;4-—When used. lathhla chapter-- . ’ _ __ . X _ _ , — (1) The term ," document i' includes registry and enrollment and lleehae; _ . ." 1 - _. (2) The term "‘ documented " means registered or enrolled 1 or liceased aader the larva of the United Statw, whether per- t hzaaeatly or temporarily; ‘ " · 1 (3) The term “.port of documentation ’,", means the port at U rvlllch the jewel la documeated,.m·'accordaace with law; — (4) The terra *‘ vmael of the United States " {means any vm- p eel documented under the laws ot the United States and auch vessel shall be held to eon_tlm1e_ to so documented until its ‘ doemaenta are surrendered with the approval of I the board; had"; _·-.5 ‘ ‘ _. "’ (5)· The term " mortgageef lh the lease of · a mortgage in- _ volving a truat deed and a ‘ bond, iaaue_-thereunder, means the trustee dgigaated in each deed. , (June 5, 1920, c.“250, 5 30, aubaee.'.lB,.§_41 Stat. 1000.) » ; · . REQORDIN€§_ OF SALES,. CONVEYANCES. QAND Mél-lT—· ` GAGES GF VESSELS OF THE UNITED; STATES . 921. Silo, coaveyaaee, or mortgage- of weasel or United, States; rmrd.·-——-(a)· No sale, eoareyaece, or mortsase which, at the tlme eomreyanm, or mortgage la inclddea -a vessel ot the United Statm or any pordoa thereof. ae the whole or a;1;y°part·o?£'the eold, eonveyed, or mortgmd ] . shall be valid, in respect to seth-ve . hay peraoa other than the graator or mrtgagor, his heir or GQYEQQ, and .
· a i- smppmo ‘ § 922 a personx hevizig actual notice thereof, until, such bill of oale, conveyance, or mortgage is recorded in the omxe of the collector oi customs . of the port of documentation of such vessel, as provided; iq subdivision- (b) of this _ subsection. _ I ·(b) Such collector of cristoms shell record. bills of sale, couveyances; and mortgages, delivere• o*’ himrin the order of their reception, in` books to be kept for that purgose and indexed to
. ~ v _ I • _ F ‘ .
. ‘(1) The name of the vessel; _ . I` . `- A (2)° The names of the partieswto the sale, conveyaxicp, or mortgage; ‘ _- . A _- _ A · . "(3) The time and date of receptiop of the instrument; - _ $(4) The interest in, the wyessel so sold, conveyed, or hortgagedmmd —" · el- (5) _The amount and date of maturity of the mortgage. (June 5,.1920, c. 250,.} 30,`sobsec.-.0, 41 Stat. 1600.) e. .922. Preferred mortgages.——(a) A valid- mortgage which, at the time it io made includes the whole- of any vessel of the United States of 200' gross tons and upward, shall in addition have, in respect to such vessel and as ot the date ot the oem- . plinglcewith all the provisions ot_ this subdivision, the preferred —‘status given by the provisions of "subsectiou M, section 953, if-·— . · · ‘ . ·_ t (.1) The mortgage is indorsed op011_the‘ veseefs documents in accordance with the provisions of this- chapter V; · (2) *1‘l1e.·m0rtgage is recorded as provided in subsection C, section 921, togethexpwith the time and date when the mortgage t is so iudorsed ;_ » _ _ "` ‘ (3) An a@davit lis Bled 'witlr the record · of such mortgage i to the effect that the mortgage is made in good faith and without any design to hinder, delay; or defraud any. existing ‘ or future `creditor of the mortgégor or any Honor ot the mortgagedyessel; · _ ·~ __ _ _ (4) The mortgage does not stipulate that the mortgagee waives the fpreterred status thereof; end · _' » i (5) The mortgagee is a citizen of the United Stated _ (ba) Any mortgage which complies in respect to any vessel J with the conditions enumerated in thio subsection cis hereafter in this chapter called »a ‘_‘ preferred mortgage " gszto such vessel; (c) There shall be ihdorsed upon the documents of al vessel covered by o presented mortgege·~— ` ‘ . ._g · _ _ ‘(Q1) The names of the mortgagor and mortgagee; (2)` The time and date t.he—i11dorseme¤t is made; o " V (_3) The amount and {date of maturity ot the mortgage; and _· ’ (4) Any amount required to be lndorsed by the provisions of subdivision (e) _ or (1) - of this subsection. . ~ (·d)` Suéh indorsemeilt shell be made (1) b? the collector of ~ customs of the port ofdocumeotatiou of the mortgaged vessel, ’ im- (2) by the collector of customs of an? lmrt tin Whiéh the veséel is found, it such collector is! rooted to make the indorseméixt by the collector the port or documentation; ‘ and no clearance Shall be issued to the re@oI until- such to- · doroement is made. The collector of customs of the port ot. docomeutotio to r give ucl; directieoo by wire orfletter at the request of t r mort s ; ‘ ooogupoo the tender of the cost of communication d o d och direo ion. ’“?h€R€V€! any. new document is issued for the vesooljouch indoreoment shall be treme ferred to end iodorsed upooitlge new document by the-collector of customs. · a . " — — “ _. _ _ g (o) A morfgoge which iizckgae promrty other than Q. vessel ` ohqll not be held a preferred mortgage lmless the mortgage ` prorldeo for the seperate ·dlécherge of Such property by the ‘ éaymoxzt or a speci§ed portion of the mortgage indebtedness. It epreterred mortgage eo provides for the separate discharge, the amount of the portion of such payment stroll be iodorsed upon the documents oftlie vmsel. ‘ `· . l T “ _ r ‘ (f)-_ IL &_`i)1‘€f8I'1‘€d rnortgage includes more than 'oue ves.•sel ind `providoa for the separator dischar@_of. each vessel by the
