shall notify the Mortgagee or his representative, in writing at the time of seizure of bis election to notice by posting.
§ 5. Sales-—postponed.] All sales under this act, shall be made between the hours of 12 o'clock M. and 4 o'clock P. M., on Saturday, within twenty days after the seizure of the property, unless the sale shall be postponed, provided, that for lack of bidders, or by request of the Mortgagor, any sale may be postponed one week by public announcement at the time of postponement. The sale shall not take place for one week following the date of publication.
§ 6. Fees.] The fee for the publication of notice under the provisions of this act, shall in no case exceed the sum of three (3) dollars. 2, The officer making the sale shall be allowed the same fees as are allowed by law for levying upon and selling personal property under exeeution. 3, No greater charge shall be valid for the keeping of live stock between the date of its seizure, and the date of sale than is now provided by law for the keeping of live stock when impounded. 4, The Register of Deeds shall receive for filing the report provided for in Section 7, the sum of ten cents.
§ 7. Report or sale.] Within ten (10) days after the foreclosure of any mortgage as herein provided, the person making the sale shall make out in writing a full report of all the proceedings in such foreclosure, specifying particularly, the property sold, the amount received therefor, the amount of the costs and expenses, itemized, and the disposition made. by him of the proceeds of the sale, and shall file the same in the office of the Register of Deeds of the county where the mortgage is filed, which report shall be received in all courts as prima facie evidence of the facts therein recited.
§ 8. Disposition of proceeds.] Out of the proceeds arising from the sale, the officer making the sale, shall pay first the costs and expenses of the foreclosure, second, shall pay the person or persons entitled thereto, the amount of the mortgage debt, and third, shall pay the balance, if any there be, to the owner of the mortgaged property.
§ 9. Any stipulation or agreement in any Chattel Mortgage, by which any provisions of this act, are waived in form, shall be inoperative and void.
§ 10. Repeal.] АП acts or parts of acts, in conflict with this act, are hereby repealed, but nothing in this act, shall be construed to prevent foreclosure by action.
§ 11. Effect-when.] This act shall take effect and be in force from and after July First, Eighteen Hundred and Eighty-Nine.
Approved, March 8th, 1889.
1889--6
