Freeholds with Reference to the bargain and sale for a year. Grant of title deeds. MORTGAGES holden, occupied, or enjoyed. (All which said hereditaments are now in the possession of the Power of Sale said (mortgagee) by virtue of an indenture of (Concise Form.) bargain and sale (1) for a year made to him thereof, by the said (mortgagor), bearing date the day next before the day of the date of these presents), and the reversion and reversions, remainder and remainders of and in the same hereditaments, and all and singular the yearly and other rents, issues, and profits thereof. AND all the estate, right, title, interest, property, claim, and demand whatsoever of him the said (mortgagor) in, to, or concerning the same, Together with all deeds, muniments, and writings, whatsoever in any wise relating thereto, or to any part thereof, now or hereafter being or to be in the custody or power of him the said (mortgagor) his TO HOLD to the heirs or assigns (2). TO HAVE AND TO HOLD the messuages, lands, hereditaments, and premises hereby granted and released, or otherwise assured or intended so to be, with their appurtenances, unto the said (mortgagee) his heirs and assigns, to and for the proper use and behoof of him the said (mortgagee) his heirs and assigns for ever (3). mortgagee in fee simple. Bargain and sale for a year. Title deeds. Life estate. Moiety, &c. (1) For the form of this bargain and sale, see ante, p. 26; also Vol. I. pp. 110. 117. (2) If there are any deeds which cannot be delivered to the mortgagee, add, "except as hereinafter is mentioned," and see ante, p. 32, rider (S). (3) If the mortgagor be tenant for life only, see ante, p. 193. Freeholds with Power of Sale: (Concise Form.) demption. AND, &c. (1); BUT SUBJECT nevertheless to the MORTGAGES proviso, condition, or agreement for redemption of the said premises hereinafter contained, that is to say, PROVIDED ALWAYS, and these presents are upon this express condition, that if the said Proviso for re(mortgagor) his heirs, executors, administrators, or assigns, do and shall well and truly pay (2) or cause to be paid unto the said (mortgagee) his executors, administrators, or assigns, at or in the common dining hall of the Inner Temple, London, between the hours of twelve and two of the clock in the day-time, the sum of £ of such lawful and current money as hereinbefore is mentioned, with interest for the same, after the rate of £5 of like lawful money for every £100 by the year, by equal quarterly payments in the mean time, without any deduction or abatement whatsoever, and shall give unto the said (mortgagee) his executors, administrators, or assigns, three calendar months previous notice (3) in writing of such payment, (1) If the premises consist principally of houses or other Insurance. buildings, the mortgagor should insure them previously to the execution of the deed, and assign the policy by a witnessing part to be introduced here, See the form of such assignment, ante, p. 87, rider (A), or should covenant to insure them, as ante, p. 98, rider (D). If the wife of the mortgagor be a party, add here a covenant Wife. to levy a fine, &c. as post, No. XXVI. and Vol. VI. p. 407, n. (14). (2) If the proviso be for the transfer of stock, see ante, Transfer of p. 424, n. (1). stock. (3) As to notice to be given of payment, see ante, p. 43, n. Notice of pay (1). ment. Freeholds with (Concise Form.) Power of sale in MORTGAGES then the grant, release, and assurance hereinbefore made shall cease and be void to all intents Power of Sale and purposes whatsoever. PROVIDED ALSO (1), and the said (mortgagor) doth hereby consent and decase of default. clare, that in case default shall happen to be made in payment of the said sum of £ and interest, or any part of the same respectively, at the time or in manner hereinbefore appointed for payment thereof, (and of which default these presents being in the hands of the said (mortgagee) his heirs or assigns, shall be deemed sufficient evidence), it shall be lawful for him the said (mortgagee) his heirs or assigns, when and as he or they shall think proper (2) to enter into or upon all and every the messuages, lands, tenements, and hereditaments hereinbefore granted and released or otherwise assured, or intended so to be, or any part thereof, in the name of the whole, and receive and retain the rents, issues, and profits thereof, and either before or after such entry to make sale and absolutely dispose of the same hereditaments, or any part thereof, and to convey and assure the same when sold, unto the purchaser or purchasers thereof, and to his, her, or their heirs or assigns, freed and absolutely discharged of and from all right and equity of redemption whatsoever of him the Notes. "At any time." (1) For explanations of the subsequent parts of this precedent as a deed for sale, see ante, pp. 233, n. (1), 252, n. (2), and Vol. VI. p. 409, et seq. (2) See as to the time of sale, ante, pp. 213, n. (1), 233, n. (1), 253, n. (2). (Concise Form.) The receipt of chasers. (See discharge pur Vol. VI. p. 418, notes.) Application of purchase-money sale. said (mortgagor) his heirs or assigns. AND the MORTGAGES said (mortgagor) doth hereby further declare and Freeholds with agree that the receipts of the said (mortgagee) Power of Sale. his heirs, executors, administrators, or assigns, for the purchase-money thereof, shall be good mortgagee to and effectual discharges for the same, and wholly exonerate every such purchaser from being accountable for the application thereof, and from any irregularity or other circumstance whatsoever relative to the said sale. AND it is hereby declared and agreed that the said (mortgagee) his and of rents till heirs and assigns, shall stand and be possessed of the rents and profits of the said hereditaments until sale thereof, and of the money which shall be produced by any such sale, or by the sale of timber or other trees in the mean time, upon the trusts and for the ends and purposes next hereinafter mentioned (1), (that is to say) UPON TRUST, in the first place, thereout to deduct and retain In payment of all costs, charges, and expenses incurred in relation thereto, or in or about the performance and execution of other the powers hereby vested in him or them, and all monies paid for taxes, repairs, and insurances against loss by fire, and for taking the opinion or advice of counsel in or con expenses. (1) If the trusts as to the application of the purchase-money Trusts of money are intended to be declared by a separate instrument (of which by separate see Vol. VI. p. 439, n. (1)), see ante, p. 432, n. (1). And for the form of such trust deed, see ante, p. 453, rider (A), also Vol. VI. No. IV. (A), p. 439, et seq. deed. MORTGAGES Cerning any of the matters or things aforesaid, Freeholds with together with interest for the same monies after Power of Sale. the rate of £5 for every £100 by the year. (Concise Form.) Payment of principal and principal sum of £ interest. Surplus to mortgagor. AND in the next (1) place deduct and retain the said , or so much thereof as shall then remain unpaid, with all arrears of interest due thereupon. AND then upon trust that he the said (mortgagee) his heirs or assigns, do and shall account for and pay over the residue or surplus (if any) of the said monies, unto the said (mortgagor) his executors, administrators, or assigns, or as he or they shall direct; and also at the costs and expense of the said (mortgagor) his heirs or assigns, convey and assure unto him or them such part of the said hereditaments (if any) as shall remain unsold, in such manner as pay the money. he or they shall lawfully require. AND the said (mortgagor) for himself, his heirs, executors, and administrators, doth hereby covenant, promise, and declare, to and with the said (mortgagee) his executors, administrators, and assigns, that he the said (mortgagor) his heirs, executors, administrators, or assigns, shall and will well and truly pay, or cause to be paid, unto the said (mortgagee) his executors, administrators, or assigns, Covenant by mortgagor to Premises in mortgage. Annuity. (1) If the premises be subject to a prior mortgage, or other incumbrance, see ante, p. 433, n. (1). If subject to an annuity previously granted by the mortgagor, see post, Vol. VI. p. 447, notes. |