18-1B-3
Section 18-1B-3 Condemnation of property encumbered by mortgage or deed of trust. Nothing in
Act 2015-39 shall be construed to limit the power of a governmental entity to condemn through
powers of eminent domain property that may be encumbered by a mortgage or deed of trust if
there is a public use for the property as authorized under Alabama's constitution and the
laws of this state; provided, however, that under no circumstances shall condemnation of a
mortgage or deed of trust exclusively be deemed a public use. (Act 2015-39, §2.)...
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11-89B-2
Section 11-89B-2 Form, terms, denominations, etc. of bonds; execution and delivery; interest;
sale; issuance of refunding bonds; liability on bonds; source of payment; use of proceeds;
mortgage, deed of trust, etc., containing certain agreements. All bonds issued pursuant to
the provisions of this chapter shall be signed by the chairman of the board of directors or
other governing body or other chief executive officer of such public corporation and attested
by its secretary and the seal of such public corporation shall be affixed thereto; provided,
that a facsimile of the signatures of both of the officers whose signatures will appear on
the bonds may be imprinted or otherwise reproduced thereon in lieu of being manually signed
if the proceedings in which the bonds are authorized to be issued provide for the manual authentication
of such bonds by a trustee, registrar or paying agent; provided further, that a facsimile
of the seal of such public corporation may be imprinted or otherwise...
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35-10-27
Section 35-10-27 Entry of full payment or satisfaction in record - Generally. If a mortgage
or deed of trust which is of record has been fully paid or satisfied, the mortgagee or transferee
or assignee of the mortgage, or trustee or cestui que trust of the deed of trust, who has
received payment or satisfaction, must on request in writing of the mortgagor, or of a creditor
of the mortgagor having a lien or claim on the property mortgaged, or of a purchaser from
the mortgagor, or owner of the lands mortgaged, or a junior mortgagee, or of the debtor in
a deed of trust, enter the fact of payment or satisfaction on the margin of the record of
the mortgage or deed of trust. Such entry must be witnessed by the judge of probate, or his
clerk, who, in his official capacity, must attest said satisfaction, and for making such attestation
the judge of probate is entitled to a fee of $.25. Or satisfaction may be made by an attorney-in-fact
authorized by an instrument executed and acknowledged as...
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11-22-10
Section 11-22-10 Bond issues - Securing of principal and interest; mortgages and deeds of trust;
default. The principal of and interest on any bonds issued by the corporation shall be secured
by a pledge of the revenues and receipts out of which the same shall be made payable and may
be secured by mortgage or deed of trust covering all or any part of the projects from which
the revenues or receipts so pledged may be derived, including any enlargements of and additions
to any such projects thereafter made. The resolution under which the bonds are authorized
to be issued and any such mortgage or deed of trust may contain any agreements and provisions
respecting the maintenance of the projects covered thereby, the fixing and collection of fees,
rates, tolls and charges for the services, facilities and accommodations furnished by the
corporation and of the rents for any portion thereof leased by the corporation to others,
the creation and maintenance of special funds from such revenues and...
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11-60-11
Section 11-60-11 Bonds - Security for payment of principal or interest; remedies upon default.
The principal of and interest on any bonds issued by the corporation shall be secured by a
pledge of the revenues and receipts out of which the same shall be made payable and may be
secured by mortgage or deed of trust covering all or any part of the projects from which the
revenues or receipts so pledged may be derived, including any enlargements of and additions
to any such projects thereafter made. The resolution under which the bonds are authorized
to be issued and any such mortgage or deed of trust may contain any agreements and provisions
respecting the maintenance of the projects covered thereby, the fixing and collection of fees,
rates, tolls and charges for the services, facilities and accommodations furnished by the
corporation and of the rents for any portions thereof leased by the corporation to others,
the creation and maintenance of special funds from such revenues and the...
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27-41-29
Section 27-41-29 Particular investments - Bonds, etc., secured by mortgages or deeds of trust
on real property, etc., generally. An insurer may invest in: (1) Bonds, notes, or other evidences
of indebtedness which are secured by a first mortgage lien or deed of trust upon unencumbered
improved real property located in the United States or Canada, including leasehold estates
in such real estate having an unexpired term (inclusive of the term or terms which may be
provided by options of renewal) of not less than 10 years beyond the final maturity of the
loan. Unless guaranteed or insured by the Administrator of Veterans Affairs, the Secretary
of Housing and Urban Development, or by a mortgage guaranty insurance policy issued by an
insurance company licensed and authorized to do business by and in the State of Alabama, no
such mortgage loan or loans when made shall exceed 75 percent of the fair value of the real
estate or leasehold, except that loans made on single family dwellings shall...
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11-54-90
Section 11-54-90 Bonds - Security for payment of principal and interest; remedies upon default.
The principal of and interest on any bonds issued by the industrial development board shall
be secured by a pledge of the revenues and receipts out of which the same shall be made payable
and may be secured by a mortgage or deed of trust covering all or any part of the projects
from which the revenues or receipts so pledged may be derived, including any enlargements
of and additions to any such projects thereafter made. The resolution under which the bonds
are authorized to be issued and any such mortgage or deed of trust may contain any agreements
and provisions respecting the maintenance of the projects covered thereby, the fixing and
collection of rents for any portions thereof leased by the board to others, the creation and
maintenance of special funds from such revenues and the rights and remedies available in the
event of default as the board of directors shall deem advisable not in...
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11-59-10
Section 11-59-10 Bonds - Security for payment of principal and interest; remedies upon default.
The principal of and interest on any bonds issued by the corporation shall be secured by a
pledge of the revenues out of which the same shall be made payable and may be secured by a
mortgage or deed of trust covering all or any part of the facilities from which the revenues
so pledged may be derived, including all supplies, equipment and easement in connection with
such facilities and any enlargements of and additions to any thereof thereafter made. Any
such mortgage or deed of trust and the resolution under which the bonds are authorized to
be issued may contain any agreements and provisions respecting the management, operation and
maintenance of the facilities covered thereby, the fixing and collection of rents, fees and
charges for any portions thereof leased by the corporation or used by the public or any services
rendered respecting the same, the creation and maintenance of special...
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11-81-2
Section 11-81-2 Execution of mortgages or deeds of trust upon property acquired, etc., with
proceeds of bond issues; recordation of same. Any municipal corporation in this state shall
have power and authority to execute a mortgage or deed of trust upon the property acquired
or to be acquired with the proceeds of a bond issue authorized in this chapter, and such mortgage
or deed of trust shall be admitted to record in the office of the probate judge of any county
in this state without the payment of any tax upon the debts secured thereby or any other fee
or charge, except the costs of recording the instrument at the rate fixed by law. (Acts 1909,
No. 195, p. 188; Code 1923, §2268; Code 1940, T. 37, §252.)...
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11-81-65
Section 11-81-65 Bonds for refunding or funding of bonds outstanding - Security. Where the
indebtedness to be funded or refunded is secured in whole or in part by a lien, mortgage,
or deed of trust upon any property belonging to the municipality or by a pledge, assignment,
or appropriation of certain revenues or resources of the municipality, such municipality may
make a new lien, mortgage, or deed of trust upon such property or a new pledge, assignment,
or appropriation of such revenues or resources to secure the payment of the principal and
interest of such funding or refunding bonds, subject, however, to any valid prior liens, mortgages,
deeds of trust, pledges, assignments and appropriations. Municipalities are further authorized
to pledge, assign and appropriate to the payment of the principal and interest of funding
and refunding bonds issued after February 15, 1933, the collections or proceeds of any or
all uncollected special assessments and any or all moneys to be derived from...
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