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24-1-35
Section 24-1-35 Mortgages of authority property in connection with government financed projects.
In connection with any project financed in whole or in part by a government, the authority
shall also have power to mortgage all or any part of its property, real or personal, then
owned or thereafter acquired, and thereby: (1) To vest in a government the right, upon the
happening of an event of default, as defined in such mortgage, to foreclose such mortgage
through judicial proceedings or through the exercise of a power of sale without judicial proceedings,
so long as a government shall be the holder of any of the bonds secured by such mortgage.
(2) To vest in a trustee or trustees the right, upon the happening of an event of default,
as defined in such mortgage, to foreclose such mortgage through judicial proceedings or through
the exercise of a power of sale without judicial proceedings, but only with the consent of
the government which aided in financing the housing project involved....
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24-1-74
Section 24-1-74 Mortgages of authority property in connection with government financed projects.
In connection with any project financed in whole or in part by a government, the authority
shall also have power to mortgage all or any part of its property, real or personal, then
owned or thereafter acquired, and thereby: (1) To vest in a government the right, upon the
happening of an event of default, as defined in such mortgage, to foreclose such mortgage
through judicial proceedings or through the exercise of a power of sale without judicial proceedings,
so long as a government shall be the holder of any of the bonds secured by such mortgage.
(2) To vest in a trustee or trustees the right, upon the happening of an event of default,
as defined in such mortgage, to foreclose such mortgage through judicial proceedings or through
the exercise of a power of sale without judicial proceedings, but only with the consent of
the government which aided in financing the housing project involved....
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35-4-431
Section 35-4-431 Definitions. (a) As used in this article, the following words have the following
meanings: (1) ASSOCIATION. An association or unit owners' association, as defined in Section
35-8A-103 of the Alabama Uniform Condominium Act of 1991; an association as defined in Section
35-8-2 of the Condominium Ownership Act; or a nonprofit or cooperative membership organization
composed exclusively of owners of mobile homes, manufactured housing, time-shares, camping
resort interests, or other interests in real property that is responsible for the maintenance,
improvements, services, or expenses related to real property that is owned, used, or enjoyed
in common by the members. (2) PAYEE. The person or entity who claims the right to receive
or collect a private transfer fee payable under a private transfer obligation. A payee may
or may not have a pecuniary interest in the private transfer fee obligation. (3) PRIVATE TRANSFER
FEE. A fee or charge payable upon the transfer of an interest...
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45-49A-64.11
Section 45-49A-64.11 Statutory mortgage lien. Any resolution of the board or trust indenture
under which bonds may be issued pursuant to this part may contain provisions creating a statutory
mortgage lien, in favor of the holders of such bonds and of the interest coupons applicable
thereto, on the transit systems, or any thereof (including any after-acquired property) out
of the revenues from which such bonds are made payable. The resolution of the board or the
trust indenture may provide for the filing for record in the office of the judge of probate
of each county in which any part of such transit system, or any thereof, may be located of
a notice containing a brief description of such systems, a brief description of such bonds,
and a declaration that the statutory mortgage lien has been created for the benefit of the
holders of such bonds and the interest coupons applicable thereto, upon such systems, including
any additions thereto and extensions thereof. Each judge of probate...
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11-49A-12
Section 11-49A-12 Statutory mortgage lien; creation; filing of notice. Any resolution of the
board or trust indenture under which bonds may be issued pursuant to the provisions of this
chapter may contain provisions creating a statutory mortgage lien, in favor of the holders
of such bonds and of the interest coupons applicable thereto, on the transit systems, or any
thereof (including any after-acquired property) out of the revenues from which such bonds
are made payable. The said resolution of the board or the said trust indenture may provide
for the filing for record in the office of the judge of probate of each county in which any
part of such transit system, or any thereof, may be located of a notice containing a brief
description of such systems, a brief description of such bonds, and a declaration that said
statutory mortgage lien has been created for the benefit of the holders of such bonds and
the interest coupons applicable thereto, upon such systems, including any additions...
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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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35-8A-303
Section 35-8A-303 Board members and officers. (a) Except as provided in the declaration, the
bylaws, the articles of incorporation in subsection (b), or other provisions of this chapter,
the board may act in all instances on behalf of the association. In the performance of their
duties, the officers and members of the board are required to exercise: (i) if appointed by
the declarant; the care required of fiduciaries of the unit owners other than the declarant
and (ii) if elected by the unit owners other than declarant, ordinary and reasonable care.
(b) The board may not act on behalf of the association to amend the declaration as specified
in Section 35-8A-217, to terminate the condominium described in Section 35-8A-218, or to elect
members of the board or to determine the qualifications, powers and duties, or terms of office
of board members as provided in Section 35-8A-303(f), but the board may fill vacancies in
its membership for the unexpired portion of any term. (c) Within 30 days...
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35-8A-411
Section 35-8A-411 Release of liens. (a) In the case of a sale of a unit where delivery of an
offering statement is required pursuant to Section 35-8A-402(c) or a disclosure is made pursuant
to Section 35-8A-407, a seller shall record or furnish to the purchaser releases of all liens
or an agreement to release any liens that encumber that unit and its common element interest,
except liens on real estate that a declarant has the right to withdraw from the condominium,
that the purchaser does not expressly agree in a written contract of sale which specifically
identifies such lien and its amount to take subject to or assume, or provide a surety bond
or substitute collateral for or insurance against the lien in the manner provided for liens
on real estate in Section 35-11-233(b). (b) In conveying real estate to the association the
declarant shall have that real estate released from: (i) all liens the foreclosure of which
would deprive unit owners of any right of access to or easement of...
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40-10-120
Section 40-10-120 When and by whom land may be redeemed. (a) Real estate which hereafter may
be sold for taxes and purchased by the state may be redeemed at any time before the title
passes out of the state or, if purchased by any other purchaser, may be redeemed at any time
within three years from the date of the sale by the owner, his or her heirs, or personal representatives,
or by any mortgagee or purchaser of such lands, or any part thereof, or by any person having
an interest therein, or in any part thereof, legal or equitable, in severalty or as tenant
in common, including a judgment creditor or other creditor having a lien thereon, or on any
part thereof; and an infant or insane person entitled to redeem at any time before the expiration
of three years from the sale may redeem at any time within one year after the removal of the
disability; and such redemption may be of any part of the lands so sold, which includes the
whole of the interest of the redemptioner. If the mortgage...
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9-6-11
Section 9-6-11 Bonds - Creation of statutory mortgage lien. Any resolution of the board or
trust indenture under which bonds may be issued pursuant to the provisions of this chapter
may contain provisions creating a statutory mortgage lien in favor of the holders of such
bonds and of the interest coupons applicable thereto on the equipment, facilities, apparatus
and systems or any part thereof (including any after-acquired property) out of the revenues
from which such bonds are made payable. The said resolution of the board or the said trust
indenture may provide for the filing of record in the office of the judge of probate of each
county in which any part of such equipment, facilities, apparatus and systems or any part
thereof may be located of a notice containing a brief description of such bonds and a declaration
that said statutory mortgage lien has been created for the benefit of the holders of such
bonds and the interest coupons applicable thereto upon such equipment,...
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