| 41. | They decided to forfeit the canal to Egerton, the main mortgagee, but he did not respond to their offer.
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| 42. | It is said that this will put an undue burden on purchasers and mortgagees, but I do not see this.
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| 43. | In January 1939, Queensland Trustees Limited, as mortgagees in possession, offered 17 Laurel Avenue for sale at auction.
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| 44. | Company officials said the plan was also supported by a " significant constituency " of core property mortgagees and lenders.
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| 45. | Typically, prospective mortgagees must provide a " gift letter " from anyone who has contributed to their down payment.
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| 46. | FirstPlus specialized in the 125 percent mortgage, which allows the mortgagee to borrow more than the value of the accompanying security.
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| 47. | Proceeds from the sale are used to satisfy the claims of the mortgagee primarily, with any excess going to the mortgagor.
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| 48. | The seminary and property was eventually foreclosed upon by the second-mortgagee, reportedly a one-time follower of McIntire.
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| 49. | When the fraud was discovered, the cestuis que trust under the settlement filed a bill against the new mortgagees claiming priority:
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| 50. | A defeasance should recite the deed to be defeated and its date, and it must be made between the same mortgagee.
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