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As to the Repayment of Amount of Mortgage and Interest.
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XX. That every Ecclesiastical Person entitled to the Profits and Emoluments of such See, Benefice, or Preferment charged with any such Mortgage as aforesaid, and his Successors for the Time being, and his and their personal Representatives respectively, shall be liable to, and shall, from and after the Expiration of the First Year of the said Term of Thirty-five Years (in which Year no Part of the Principal Sum borrowed shall be repayable), yearly and every Year, such Year to be computed from the Date of the said Mortgage, pay to the Mortgagee, his Executors, Administrators, or Assigns, One Thirtieth Part of the Principal Sum, until the whole thereof shall be repaid, and shall at the End of the First and every succeeding Year pay the yearly Interest on the Principal Sum, or so much thereof as shall from Time to Time remain unpaid; and in case of the Avoidance of any such See, Benefice, or Preferment, by Death or otherwise, the Sum payable at the End of any Year in which the said Avoidance shall occur shall be apportioned between the Successor and the Ecclesiastical Person avoiding such See, Benefice, or Preferment, in such Proportion as the Profits of such See, Benefice, or Preferment shall have been received by him for the Year in which such Death or Avoidance shall have happened; and in case such Successor and the Ecclesiastical Person so avoiding, or his Representative, cannot agree in adjusting such Proportion, the same shall be finally determined by the Person or Persons empowered to entertain Memorials as aforesaid; and such Principal, Interest, and Costs, and such proportional Part of the same, may be recovered by such Mortgagee, his Executors or Administrators, by Action of Debt in any of the Superior Courts of Law, or in case the same shall be in arrear and unpaid for the Space of Forty Days after the same shall become due, by Distress and Sale, in such Manner as Rents may be recovered by Landlords or Lessors from their Tenants by the Laws in being; and in such last-mentioned Case it shall be lawful for the Person or Persons empowered to borrow the said Money on Mortgage as aforesaid to sequester the Profits of such See, Benefice, or Preferment till such Payment shall be made.
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