against subsequent purchasers or mortgagees in good faith, after the expiration of the first or any succeeding term of one year, reckoning from the time of the first filing, unless,

1. Within thirty days next preceding the expiration of each such term a statement containing a description of such mortgage, the names of the parties, the time when and place where filed, the interest of the mortgagee or of any person who has succeeded to his interest in the property claimed by virtue thereof, or

and 1901 C219: 2. A copy of such mortgage and its endorsements, together the following aaned with a statement attached thereto or endorsed thereon, showing where the chattels with the interest of the mortgagee or of any person who has succeeded were located in the to his interest in the mortgage, is filed in the proper office in the City of My., at the time of the execution of the metge, city or town where the mortgagor then resided, if he is then a a coky of auch me guresident of the town or city where the mortgage or a copy aits indorsements, thereof or such statement was last filed; if not such resident, but together with a statement resident of the state, a true copy of such mortgage, together etached hereto or with such statement, shall be filed in the proper office of the town or city where he then resides; and if not a resident of the mt gee or of any person state, then in the proper office of the city or town where the who has succeeded to kis property so mortgaged was at the time of the execution of the Some office where the mortgage.

Endorsed thereon, showing

The interest of The

when the high

I must be filed in the

of the same.

riginal metge of a cory § 96. Duration of lien of mortgage on canal craft.-Every theof Fles at the ine of the execution mortgage upon a canal boat or other craft navigating the canals of this state, filed as provided in this article, shall be valid as against the creditors of the mortgagor and against subsequent purchasers or mortgagees in good faith as long as the debt which the mortgage secures is enforcible. From the time of filing every such mortgage shall have preference and priority over al other claims and liens not existing at the time of such filing.

§ 97. Copies to be evidence of certain facts.—A copy of any such original instrument, or of a copy thereof, including any state. ment relating thereto, certified by the officer with whom the same is filed, may be received in evidence, but only of the fast that such instrument, or copy, or statement was received and filed according to the endorsement thereon; and the original endorse ment upon such instrument or copy may be received in evidence only of the facts stated in such endorsement.

§ 98. Mortgage, how discharged of record.-Upon the pay ment or satisfaction of a chattel mortgage, the mortgagee, his assignee or legal representative, upon the request of the mortgagor or of any person interested in the mortgaged property, must sign

and acknowledge a certificate setting forth such payment or satisfaction. The officer with whom the mortgage, or a copy thereof is filed, must, on receipt of such certificate, file the same in his office, and write the word "discharged" in the book where the mortgage is entered, opposite the entry thereof, and the mortgage is thereby discharged.

ARTICLE IX.

CONTRACTS FOR THE CONDITIONAL SALE OF GOODS AND CHATTELS.

SECTION 110. Definitions.

111. Conditional sale of railroad equipment and rolling stock.

112. Conditions and reservations in contracts for the sale of goods and chattels.

113. Where contract to be filed.

114. Endorsement, entry, refiling and discharge of conditional contracts.

115. Preceding sections not to apply to certain articles.

116. Sale of property retaken by vendor.

117. Notice of sale.

118. Disposition of proceeds.

§ 110. Definitions. The term "conditional vendor," when used in this article, means the person contracting to sell goods and chattels upon condition that the ownership thereof is to remain in such person, until such goods and chattels are fully paid for or until the occurrence of any future event or contingency; the term "conditional vendee," when so used, means the person to whom such goods and chattels are so sold.

§ 111. Conditional sale of railroad equipment and rolling stock. Whenever any railroad equipment and rolling stock is sold, leased or loaned under a contract which provides that the title to such property, notwithstanding the use and possession thereof by the vendee, lessee or bailee, shall remain in the vendor, lessor or bailor, until the terms of the contract as to the payment of installments, amounts or rentals payable, or the performance of other obligations thereunder, are fully complied with and that title to such property shall pass to the vendee, lessee or other bailee on full payment therefor, such contract shall be invalid as to any subsequent judgment creditor of or purchaser from such vendee, lessee or bailee for a valuable consideration, without notice, unless

1. Such contract is in writing, duly acknowledged and recorded in the book in which real estate mortgages are recorded in the office of the county clerk or register of the county in which is located the principal office or place of business of such vendee, lessee or bailee; and unless

2. Each locomotive or car so sold, leased or loaned, has the name of the vendor, lessor or bailor, or of the assignee of such vendor, lessor or bailor, plainly marked upon both sides thereof, followed by the word owner, lessor, bailor or assignee, as the case may be.

§ 112. Conditions and reservations in contracts for sale of goods and chattels.-Except as otherwise provided in this article, all conditions and reservations in a contract for the conditional sale of goods and chattels, accompanied by immediate delivery and continued possession of the thing contracted to be sold, to the effect that the ownership of such goods and chattels is to remain in the conditional vendor or in a person other than the conditional vendee, until they are paid for, or until the occurrence of a future event or contingency shall be void as against subsequent purchasers, pledgees or mortgagees in good faith, and as to them the sale shall be deemed absolute, unless such contract of sale, containing such conditions and reservations, or a true copy thereof be filed as directed in this article.

8113. Where contract to be filed. Such contracts shall be filed in the city or town where the conditional vendee resides, if he resides within the state at the time of the execution thereof; and if not, in the city or town where such property is at such time. Such contract shall be filed, in the city of New York, as follows, to wit: In the borough of Brooklyn in said city, such instrument shall be filed in the office of the county of Kings; in the borough of Queens in said city, in the office of the clerk of Queens county; in the borough of Richmond in said city, in the office of the clerk of the county of Richmond, and in the borough of Manhattan and the borough of the Bronx in said city, in the office of the register of the city and county of New York; in every other city or town of the state, in the office of the city or town clerk, unless there be a county clerk's office in such city or town, when it shall be filed in such office. (As amended by chap. 248 of 1900.)

§ 114. Endorsement, entry, refiling and discharge of conditional contracts.-The provisions of the preceding article relating to chattel mortgages apply to the endorsement, entry, refiling and discharge of contracts for the conditional sale of goods and chattels. The officers with whom such contracts are filed shall enter the future contingency or event required to occur before the ownership of such goods and chattels shall pass from the vendor to the vendee, and the amount due upon such contract

and the time when due. The name of the conditional vendor shall be entered in the column of "mortgagees" and the name of the conditional vendee in the column of "mortgagors." The officers performing services under this article are entitled to receive the same fees as for like services relating to chattel mortgages.

§ 115. Preceding sections not to apply to certain articles.The preceding sections of this article do not apply to the conditional sale of household goods, law books, law blanks, and law office supplies, pianos, organs, safes, scales, butchers' and meat-market tools and fixtures, wood cutting machinery, engines, dynamos, boilers, portable furnaces, boilers for heating purposes, threshing machines, horse powers, mowing machines, reapers, harvesters, grain drills and attachments, dairy sizes of centrifugal cream separators, coaches, hearses, carriages, buggies, phaetons and other vehicles, bicycles, tricycles and other devices for locomotion by human power, if the contract for the sale thereof is executed in duplicate, and one duplicate delivered to the purchaser. (As amended by chap. 354 of 1898, § 1.)

§ 116. Sale of property retaken by vendor.-Whenever articles are sold upon the condition that the title thereto shall remain in the vendor, or in some other person than the vendee, until the payment of the purchase price, or until the occurrence of a future event or contingency, and the same are retaken by the vendor, or his successor in interest, they shall be retained for a period of thirty days from the time of such retaking, and during such period the vendee or his successor in interest, may comply with the terms of such contract, and thereupon receive such property. After the expiration of such period, if such terms are not complied with, the vendor, or his successor in interest, may cause such articles to be sold at public auction. Unless such articles are so sold within thirty days. after the expiration of such period, the vendee or his successor in interest may recover of the vendor the amount paid on such articles by such vendee or his successor in interest under the contract for the conditional sale thereof. (As amended by chap. 762 of 1900.)

§ 117. Notice of sale.- Not less than fifteen days before such sale, a printed or written notice shall be served personally upon the vendee, or his successor in interest, if he is within the county where the sale is to be held; and if not within such county, or he can not be found therein, such notice must be mailed to him at his last known place of residence.

Such notice shall state:

1. The terms of the contract.

2. The amount unpaid thereon.

3. The amount of expenses of storage.

4. The time and place of the sale, unless such amounts are sooner paid.

118. Disposition of proceeds.-Of the proceeds of such sale, the vendor or his successor in interest may retain the amount due upon his contract, and the expenses of storage and of sale; the balance thereof shall be held by the vendor or his successor in interest, subject to the demand of the vendee or his successor in interest, and a notice that such balance is so held shall be served personally or by mail upon the vendee or his successor in interest. If such balance is not called for within thirty days from the time of sale, it shall be deposited with the treasurer or chamberlain of the city or village, or the supervisor of the town where such sale was held, and there shall be filed therewith a copy of the notice served upon the vendee or his successor in interest and a verified statement of the amount unpaid upon the contract, expenses of storage and of sale and the amount of such balance. The officer with whom such balance was deposited shall credit the vendee or his successor in interest with the amount thereof and pay the same to him on demand after sufficient proof of identity. If such balance remains in possession of such officer for a period of five years, unclaimed by the person legally entitled thereto, it shall be transferred to the funds of the town, village or city, and be applied and used as other moneys belonging to such town, village or city.

ARTICLE X.

LAWS REPEALED; WHEN TO TAKE EFFECT.

SECTION 120. Laws repealed.

121. When to take effect.

§ 120. Laws repealed. The laws or parts thereof specified in the schedule hereto annexed, and all laws amendatory thereof, are hereby repealed.

§ 121. When to take effect. This chapter shall take effect September first, eighteen hundred and ninety-seven.