§ 1932. Discharge of record of ancient mortgage where time of maturity
is dependent on contingent event related to use of premises. 1. The lien
of every mortgage or conveyance of real estate in this state given as
security for the payment of money, recorded more than seventy-five years
ago, where the time of maturity thereof is dependent solely upon the
occurrence of a contingent event relating to use of the mortgaged
premises for religious purposes, and where the reason for such use no
longer applies to the mortgaged premises because of changes in the type
of neighborhood in which the premises are situated, may be discharged of
record by judgment of the supreme court in the county where the
mortgaged premises are situated, or of the county court of such county,
in the manner provided in this section.

2. The court, upon presentation of a petition, together with an
official search of the recording officer in whose office the mortgage is
recorded or a search prepared by a person duly licensed and admitted to
practice law in this state or by a title company duly incorporated and
authorized to transact business in this state showing such recordation
and assignments of record, if any, the petition showing such contingent
event relating to the use of the mortgaged premises for religious
purposes and that the reason for such use no longer applies to the
mortgaged premises because of changes in the type of neighborhood in
which the mortgaged premises are situated, and showing that the
petitioner has made reasonable effort to locate the mortgagee or other
person or persons authorized to execute and deliver a satisfaction of
such mortgage or conveyance but has been unable to do so after the
exercise of reasonable diligence, shall make an order requiring all
persons interested to show cause at a certain time and place, why such
mortgage should not be discharged of record. Such order to show cause
and the publication and service thereof shall comply with the
requirements of section 1931 of this chapter, and the proceedings on the
return of such order to show cause shall comply with the requirements of
section 1931 of this chapter except as to the allegation of payment and
evidence to rebut the presumption thereof.

3. Any judgment of the court thereon discharging the mortgage of
record shall be made only upon proof of such contingent event relating
to use of the mortgaged premises for religious purposes, and of the
changes in the type of neighborhood in which the mortgaged premises are
situated, showing that the reason for such use no longer applies to the
mortgaged premises, and upon proof of the other matters alleged in the
petition; and any such judgment shall be made without prejudice to the
right, if any, of the mortgagee, his representatives or assigns or other
person or persons to receive or collect the mortgage debt in any action
or proceeding not affecting such mortgaged premises.