226 The Farmer's Business Handbook 



generally required that the mortgagee, i. e., the 

 person to whom the mortgage is given, shall, 

 shortly before the expiration of each period of 

 one year after the filing of the chattel mortgage, 

 file a statement in the same office, giving cer- 

 tain information about the transaction and show- 

 ing the amount due on the mortgage. The pen- 

 alty for failing to comply with this requirement 

 is the same as for failing to file the mortgage 

 originally. A chattel mortgage is generally 

 good as against the mortgagor and all other 

 persons, except creditors and subsequent pur- 

 chasers or incumbrancers of the property in 

 good faith, regardless of any filing or refiling 

 whatever. The following is a short form of 

 chattel mortgage: 



Know All Men By These Presents, that I, John 

 Brown, of Ithaca, N. Y., hereby sell and assi/^n to 

 John Jones, of the same place, one democrat wagon, 

 i/ue lumber wagon, one set of single harness and one 

 set of double harness, all of which are now in my 

 barn at Ithaca, aforesaid. This grant is intended as 

 security for the payment of Thirty Dollars ($30), with 

 interest, on or before the expiration of three months 

 from the date hereof, which payment, if duly made, 

 will render this conveyance void. 



In Witness Whereof, I have hereunto set my hand 



and seal this day of , 190 . . . 



(L. S.) 



