become payable thereunder or any part thereof: And that if the said policy or any policy or policies to be effected as hereinafter provided shall by any means become void the said A. will immediately at his own cost effect a new policy or policies in lieu thereof in the name or names of the said M. his executors administrators or assigns with the said Assurance Office or some other office or offices to be approved by the said M. his executors administrators or assigns in a sum or sums equal to the sum or sums assured by the policy or policies which shall have become void as aforesaid: And that he the said A. will from time to time during the continuance of this security punctually pay all premiums and other sums of money for keeping on foot the said policy hereby assigned or any other policy or policies to be effected as aforesaid, and will immediately after every such payment deliver the receipt for the same to the said M. his executors administrators or assigns: And that in case any default Mortgagee may keep shall be made by the said A. in keeping on foot any policy up policy. or in delivering any receipt as aforesaid then it shall be lawful for the said M. his executors administrators and assigns to pay any premiums or sums of money and to do all things necessary for keeping on foot the said policy or for effecting and keeping on foot any such new policy or policies as aforesaid as he or they shall think fit: And that in such case he the said A. his executors or administrators will on demand repay to the said M. his executors administrators or assigns all such sums so paid by him or them with interest for the same at the rate aforesaid from the respective times of paying the same. AND IT IS HEREBY AGREED AND DECLARED that such sums of money and interest shall in the meantime be charged upon the said hereditaments and premises and the policy or policies for the time being subject to these presents, And that every such new policy and the moneys to become payable thereunder shall be subject to the proviso for redemption hereinbefore contained and to the powers and trusts hereby declared concerning the said policy hereby assigned and the moneys to become payable thereunder. (Power of sale if desired of hereditaments policy and premises hereby mortgaged, us in mortgage of freeholds, see p. 78, mutatis mutandis). IN WITNESS &c. Settle. ment under which mortgagor is tenant for life. LII. MORTGAGE of FREEHOLDS COPYHOLDS and LEASEHOLDS comprised in a settlement by TENANT for LIFE under the SETTLED LAND ACT, 1882, for the purpose of receiving money for enfranchisement equality of exchange or partition (p). THIS INDENTURE made the day of Between A. of &c. (tenant for life) of the 1st part B. of &c. C. of &c. and D. of &c. (trustees of the settlement under which A. is tenant for life) of the 2nd part and M. of &c. (mortgagee) of the 3rd part, WHEREAS by an Indenture of Settlement dated &c. and made between &c. being the settlement executed previous to the marriage shortly afterwards solemnized between the said A. and W. his wife certain freehold hereditaments situate in the county of were limited and assured after the solemnization of the said then intended marriage to the use of the said A. and his assigns during his life without impeachment of waste with divers remainders over, and by the same Indenture certain copyhold hereditaments situate in the same county were covenanted to be surrendered to the use of the said B. C. and D. their heirs and assigns [to which they were subsequently admitted] and certain leasehold hereditaments situate in the same county were assigned unto the said B. C. and D. their executors administrators and assigns to hold the said copyhold and leasehold hereditaments Upon such trusts (p) Sce Settled Land Act, 1882, s. 18, p. 341. day of AND quent deal perty com ment. brances powers and provisions as should best or nearest correspond with the uses trusts powers and provisions thereinbefore declared and contained of and concerning the aforesaid freehold hereditaments and in manner therein. mentioned, and the said B. C. and D. were appointed to be trustees of the said settlement for the purposes of the Settled Land Act, 1882, and for all other purposes (q) AND SubseWHEREAS since the date of the said Indenture of Settleings with ment certain portions of the hereditaments comprised the protherein have been sold and with the proceeds thereof and prised in with other moneys other hereditaments have been bought the settle. and by Indentures dated &c. &c. respectively have been settled to the uses and upon the trusts of the said Indenture of Settlement of the WHEREAS all or some of the hereditaments now subject to Incumthe uses and trusts of the same Indenture of Settlement already are subject to certain yearly rentcharges amounting existing. altogether to the yearly sum of £- —or thereabouts of which some are perpetual and others will terminate with lives or years and also to certain incumbrances amounting altogether to the sum of £ or thereabouts, which charges and incumbrances are specified in the second schedule hereto, AND WHEREAS the sum of Money required £- is required for &c. (state whether it is required for enfranfor enfranchisement or equality of exchange or partition), &c. AND WHEREAS the said A. as tenant for life in possession Agreeof the same hereditaments has applied to the said M. to ment for advance the said sum of £- for the purpose aforesaid which the said M. has consented to do on having the repayment thereof with interest at the rate of £4 per cent. per annum secured in manner hereinafter appearing, AND WHEREAS it has been agreed that the said sum of Money to be paid to £— shall be paid to the said B. C. and D. as such the trustrustees as aforesaid upon their joining in these presents in manner hereinafter appearing, NOW THIS INDENTURE WITNESSETH that in pursuance of the said (9) Or it should be shown that the trustees have a power of sale, as in Prec. XXI., p. 33, see Settled chisement loan. tees. H Convey. ance of holds. agreement and in consideration of the sum of £ now paid by the said M. to the said B. C. and D., The receipt whereof the said B. C. and D. do hereby acknowledge, He the said A. as beneficial owner in exercise of the power for this purpose given to him by the Settled Land Act, 1882, and of every other power enabling him in this behalf doth hereby convey (?) unto the said M. his heirs executors administrators and assigns respectively ALL freeholds AND SINGULAR the freehold copyhold and leasehold mescopyholds and lease- suages lands and hereditaments comprised in the first schedule hereto and therein more particularly described being part of the hereditaments now subject to the uses and trusts of the hereinbefore recited Indenture of Settlement of the -day of TO HAVE AND TO HOLD the hereditaments and premises hereby conveyed As to such parts thereof as are of the nature of freehold UNTO AND TO THE USE of the said M. his heirs and assigns, As to such parts thereof as are of the nature of copyhold UNTO AND TO THE USE of the said M. his heirs and assigns to be holden at the will of the lord according to the custom of the manor or manors whereof the same parts respectively are holden and by and under the rents fines suits and services therefor respectively due and of right accustomed, And as to such parts thereof as are of the nature of leasehold UNTO the said M. his executors administrators and assigns for all the residues of the terms for which the same respectively are held except the last three days of each term, SUBJECT nevertheless as to all the freehold copyhold and leasehold hereditaments hereby conveyed to the yearly rentcharges and other incumbrances to which the same or parts thereof are now subject, PROVIDED ALWAYS and it is hereby agreed and declared that if the said A. or any other person or persons interested in remainder after the life estate of the said A. under the limitations of the aforesaid Indenture of Settlement or otherwise in the hereditaments hereby conveyed Proviso for re demption. . (7) See note to Settled Land Act, 1882, s, 20, p. 342. or the trustees or trustee thereof for the time being shall the same at the rate of £4 per cent. per annum from the date of these presents then the said M. or the persons claiming under him shall at any time thereafter upon the request and at the cost of the persons requiring the same reconvey the hereditaments and premises hereby conveyed to the uses and upon the trusts respectively declared by the aforesaid Indenture of Settlement of and concerning the freehold copyhold and leasehold hereditaments thereby settled or such of the same uses and trusts as shall be then subsisting or in such manner as the said A. or the persons requiring such reconveyance shall direct. AND Covenant by tenant the said A. doth hereby covenant with the said M. that he for life to the said A. will at all times during his life if the aforesaid pay insum of £or any part thereof shall so long remain owing pay to the said M. or the persons claiming under him interest for the same sum or such part thereof as shall remain owing at the rate of £4 per cent. per annum on the day of and the day of in every year. by B. C. and D. against incumbrances, see p. 35. Proviso limiting A.'s implied covenants for title, see p. 35, and if M. is not to have the title deeds acknowledgment by A. of M.'s right to their production and to delivery of copies thereof and undertaking for safe custody, see p. 35). IN WITNESS &c. (Covenants The first schedule to the above-written Indenture. (Description of parcels.) The second schedule to the above-written Indenture. (List of incumbrances.) terest. |