§ 34-25-1. Real estate mortgage to secure future loans — Amounts and purposes of loans covered. (a) Whenever a mortgage deed in statutory form or other form mortgaging real property is entitled at the beginning thereof “Mortgage to secure present and future loans under §§ 34-25-1 — 34-25-5” and contains in its provisions a provision […]
§ 34-25-10. Priority of open-end mortgages over encumbrances not previously recorded. (a) The mortgage deed and the rights established therein, shall, to the extent of the loans secured thereby, and interest, taxes, insurance premiums and other obligations as secured thereby, have full priority over all mortgages, liens and encumbrances which have not been recorded prior […]
§ 34-25-11. Relinquishment of security as to additional future advances — Stipulation as to amount due. If the mortgagor desires to terminate the privilege of having the mortgage constitute security for further future advances in addition to all advances theretofore made by the mortgagee on the security of the mortgage, and desires to establish the […]
§ 34-25-12. Discharge of open-end mortgage. (a) Notwithstanding the provisions of § 34-26-2, no mortgagee under an open-end mortgage subject to this chapter shall be obligated to discharge the mortgage until the mortgagee receives full satisfaction for the money due thereon and receives such written agreements as the mortgagee shall reasonably request releasing the mortgagee […]
§ 34-25-13. Mortgages to which §§ 34-25-8 — 34-25-14 apply. (a) “Mortgage,” as used in §§ 34-25-8 — 34-25-14, means a real estate mortgage deed or real estate mortgage instrument entitled, “Open-end mortgage to secure present and future loans under chapter 25 of title 34”, and which includes in its provisions the terms and elements […]
§ 34-25-14. Mortgagees authorized to take open-end mortgages. (a) Domestic building-loan associations, whether organized by special act of the general assembly or pursuant to the provisions of chapter 22 of title 19, foreign building-loan associations subject to the provisions of chapter 24 of title 19, savings and loan associations organized under the laws of the […]
§ 34-25-2. Priority of future loan mortgages over encumbrances not previously recorded. The mortgage and the rights established therein shall, to the extent of the loans secured thereby, and interest, taxes, insurance premiums, and other obligations secured thereby, have full priority over all mortgages, liens and encumbrances which have not been recorded prior to such […]
§ 34-25-3. Priority of attachment, execution, or lis pendens over subsequent loans. If, after the recording of the mortgage, any writ of attachment attaching the real estate mortgaged under the mortgage or any execution against the real estate or any notice of lis pendens affecting the real estate is recorded in the records of the […]
§ 34-25-4. Relinquishment of security as to additional loans — Stipulation as to amount due. If the mortgagor shall desire that the privilege shall be terminated of having the mortgage constitute security for further loans in addition to the loans which the mortgagee at or before the recording of the mortgage made or agreed with […]
§ 34-25-5. Mortgages to which §§ 34-25-1 — 34-25-5 apply. (a) “Mortgage,” as used in §§ 34-25-1 — 34-25-5, means a real estate, mortgage deed or real estate mortgage instrument entitled “Mortgage to secure present and future loans under §§ 34-25-1 — 34-25-5,” and which includes in its provisions the aforesaid provision to the effect […]
§ 34-25-6. Mortgagees authorized to take future loan mortgages. (a) Domestic building-loan associations, whether organized by special act of the general assembly or pursuant to the provisions of chapter 22 of title 19, foreign building-loan associations subject to the provisions of chapter 24 of title 19, savings and loan associations organized under the laws of […]
§ 34-25-7. Application of mortgages to after-acquired property of public utilities. Notwithstanding the provisions of chapter 9 of title 6A, whenever any public utility, as defined in chapter 1 of title 39, shall have given a mortgage expressly including real or personal property to be acquired after the date of the execution of the mortgage, […]
§ 34-25-8. Open-end mortgages. Whenever a mortgage deed in statutory form or other form mortgaging real property is clearly entitled at the beginning thereof “Open-end mortgage to secure present and future loans under chapter 25 of title 34” and in all other respects complies with the requirements of § 34-25-9, the mortgage deed shall be […]
§ 34-25-9. Form of open-end mortgage. In order to be entitled to the benefits of this chapter, a mortgage deed shall comply with the following provisions: (1) The mortgage deed shall contain specific provisions permitting the future advances; (2) At no time shall the unpaid principal balance of indebtedness outstanding under the mortgage deed exceed […]
