Pennsylvania Statutes Title 21 P.S. Deeds and Mortgages § 762. Receipts for instalments entered on record; penalty for neglect

In all cases of a mortgage where, by agreement, the mortgage is to be satisfied, paid and discharged, by instalments, the legal holder or holders thereof, or his agent or attorney, on receiving each of such instalments with all interest thereon due, shall receipt for the same upon the record of the mortgage in the proper office as they are severally paid, which receipt or receipts shall be a release and discharge of the said mortgage to the amount thus receipted for, and the mortgage shall not at any time be a lien on the mortgaged premises to any greater amount than the sum of the principal and interest actually remaining due, or becoming due and unpaid, and if any legal holder or holders, or his or their agent and attorney, of any mortgage, shall refuse or neglect, upon request of the mortgagor or mortgagors, or of his, her or their legal representatives, or any person owning the mortgaged premises, or any part thereof, on tender of the cost of office for entering such receipt upon the record of the mortgage, to receipt upon the record of such mortgage the amount of the instalments received, within sixty days after such request made, such holder or holders, or his or their agent or attorney, shall for every such offense, forfeit and pay unto the party or parties aggrieved any sum of money not exceeding the amount of the instalment so neglected or refused to be receipted for, to be recovered, sued for, and demanded, by the mortgagor or mortgagors, or persons damnified, in like manner as other debts are now recoverable by law in this commonwealth.