HomeMy WebLinkAbout0106r; R~~ ~(~ •3 ('~'
13
out heint; t•cspon: ihlc for loss or damage, and the tiltipo~~•ncr or
other ~,e:•son in possessiuu forth~~•itlt ul>on deuutnd of the Alort-
gat;c•e sl::-1l surrender to the ~lortgal;ee l,ossos::ion of tl-e Vessel
rind the Jlortl;tt~,er, may, ~sithout tieing resl~onsihle for loss or
dtuna-;e, Bold, lay up, lease, charter, ol~crate or othet-~~•is~~ use
such \'cssel fur such tine and upon such iei•ms as it tnay rl~~eut
to L•e for its h-•st ad~•antttg-•, and demand, co1_lect t-ncl retain all
hire, 1'rcigltts, eat•ninf,~s, issues, re~•etutes, income, 1?:•otits. rc=±urn
l,r,•utiuur.•, ~ah•a~e a~~•ards car rero~•eries, recoveries in f;cueral
averttnc, and all other soots due or to become due in reslx=ct of
suc•!t ~~-•s"•1 or in r~•spect ut ilil\' lntilll'anCe thrreon front any
per+~n ~~~hotn~oevc•r, accounting onl~• for the net profit,, if :uty,
t-risint; fruut such t;st• of the ~'esscl and charnin~; upon all rt~ceil;ts
Erato th~• use of the ~•-•~:;~=i or front the sale tl-ereof by court
prnceedint;s or pursu,utt to Suhsc•ction (-1) nest follu~~•in:;, all
c•ost~, czl,cn~es, chtu'grs, tituua~,es or lossc=~ by rct-son of such
u~c; tool if at tu-~- tinu~ the \lortna~.;ee shall avail itsc=]f of the
ri.:ht herein git•c=n it to tat:,= th-~ `reF:+t=l, the llortga};ee shall have _
the right to docl: the ~'c~sel, for tt n=asonahlc' tithe at an}• dock,
pier or utl-er pre=tui-= of ti,e `hipo~~•ner e~•ithout charge, ~~r to
dock Ler at am• other place at the cost and e~l>nns.r of the tihip-
m~•ne r ;
(-1) 'l'akf= turd t=ntcr into possession of the Vt=ssel, at any
tin-c=, ~~ he=r~•~--=r the sanu= tuay it-~, ~~~ithout legal process, and if it
<<=cu-s desirable to the llort,[;agee and ~~•ithout hein~~ rrsponsihle
for loss or danta~;e, sell such t"c=ssel, at any place turd at such time
as tl-e \iort~*anc=~ may' specify and in sucl- ntann~=r as the1[ort-
~;a~teE• that- deem ad~•isahl~, Trot= front am- claim h~• the SI-ipm~•ner
in admiralty, in equity, at lair or by statute, after first ~,-i~~in~
notic<• of tl:e ±inu= and place of sale with a r;enernl description of
tht= prop,=rtv in the follo~~-int,• mannr=r
(i) Ry ptthlishing such notice for ten (10) consecutive days
in tt dail~• ne~~•spaper ot• general circulation published in \cw
fork ('it.-;
(ii) 1f the place of salt should not be tit=~~• fork Cit}~,
the=n also by l,uLficatic;n of a suutlar notice in a daily ne~~•spaper,
if any, puhlishe=d at the l;ltue of sale; and