THE CUBA REVIEW 



for the years or harvests which may be specified to answer for the payment of the sums which h 

 may receive in loan, interest, and other responsibilities, whether provided by law or stipulated b 

 the parties, for the purpose of applying the sums received to the expenses of administration, mair 

 tenance, cultivation, exploitation, improvements, building, installation of machinery and anythin 

 else which may tend to the improvement of the estate. 



Attention is called particularly to the first of the transitory provisions of thi 

 said amendment, which reads as follows: 



Contracts of agricultural financing, colonizing, and grinding of cane previous to the presen 

 law may be recorded if the formalities required by the said law for their execution have been com 

 plied with or are complied with, and if their recordation is requested within the 60 days after thi 

 law comes into effect. 



Therefore the advisability of immediately recording, if possible, any such contracts 

 should be considered, so as to avail oneself of the benefits of this new legislation! 

 Furthermore, any new advances which one might make should be made under a contract! 

 fulfilling in all respects the requisites of this new legislation. It should be borne in 

 mind, however, that a mortgage on property, previously made and recorded, covers 

 growing crops, even though not expressly specified in the mortgage (Article 110 of the 

 Cuban Mortgage Law), so that advances made against growing crops, secured by a 

 mortgage under the law of March 2, 1922, would not give a first mortgage against 

 such crops in such cases. 



(The official translation of the War Department of the United States Government 

 has been used in translating the Mortgage Law of Cuba. The translation of the law 

 of March 2, 1922, is by the writer, in which he has attempted to follow the official 

 translation as much as possible. For purposes of exactness, attention should be called 

 to the fact that "frutos pendientes," which literally means "unplucked fruits,'' has been 

 translated as "growing crops," as that is the translation employed in the official 

 translation.) 



Application of the Law of March "i, 1922. 



The Cuban Department of Justice, after hearing the commission on amendments 

 to the mortgage law, has issued the following provisional instructions to registrars of 

 property, notaries, and commercial notary brokers for the application of the Cuban 

 law of March 2, 1922, relating to sugar-crop financing: 



Agricultural Financing Contracts 



I. The names, surnames, firm name or title, and residence of the refers, shall 

 contain the following amendments: 



1. The names, surnames, firm name or title, and residence of the lender and of 

 the borrower, and the birthplace, age, civil status, and profession or occupation of 

 the grantors (parties to the document) and their representatives, setting forth the 

 power of attorney in such case. 



2. A statement whether the borrower is the owner, possessor, usufructuary, lessee, 

 or the colono of a given estate, or part thereof, and the period of duration of the 

 lease, of the colonato contract, and of the usufruct in such case. 



3. The amount of the loan and of the interest stipulated, the date of maturity 

 of the loan and of payment of interest, and whether the payment thereof and the 

 amount specified for costs and expenses and other liabilities stipulated or statutory is 

 secured by the fruits or products specified of the estate or lands referred to, during 

 such years or crops as may be determined, not exceeding, however, the limits provided 

 in Article III of the law; and there must also be stated the day, month, and year 

 on which the same shall be understood to be extinguished in all cases where one or more 

 crops are obligated. 



