219. Agreement to Extend Mortgage.*

THIS AGREEMENT, made this twenty-first day of March in the year One Thousand Nine Hundred seven (1907) BETWEEN SAMUEL BLACK of the City of Philadelphia of the first part, and WILLIAM BROWN, also of the City of Philadelphia, of the second part.

WHEREAS, The party of the first part is the present holder of a certain bond to secure the sum of Eighteen Hundred ($1800.00) Dollars given by HENRY SMITH to THEODORE THOMAS, dated the First day of September A. D. 1902, now overdue, which is secured by a mortgage bearing like date, of certain premises therein described, recorded in the County of Philadelphia and State of Pennsylvania in Mortgage Book W. S. V. No. 149, Page 557, &c. and assigned to the said SAMUEL BLACK by Assignment of Mortgage dated November 30, 1904 and recorded in Assignment of Mortgage Book No. 142, Page 100 &c.

AND WHEREAS, The party of the second part the owner of the premises so mortgaged, and has requested the party of the first part to extend the said loan as hereinafter mentioned, which the said party of the first part has consented to do upon the agreement of the said party of the second part to do what is hereinafter specified.

NOW THIS Agreement WitneSSETH, That it is agreed by and between the parties hereto, in consideration of the premises and of mutual promises, as follows:

1. The interest to be paid on said bond, from and after the thirtieth day of May 1907, until the expiration of the term next hereinafter specified, shall be at the rate of five and four-tenths per centum per annum.

2. The principal of said bond will not be paid, or tendered to be paid, by the obligor or owner of the mortgaged premises, for the term of three years from the thirtieth day of May in the year of our Lord One Thousand Nine Hundred seven (1907).

3. The party of the first part will not demand payment of the principal of said bond during said extended term, provided the interest be paid semi-annually within thirty days after the same

*This agreement to extend mortgage need not be acknowledged unless it is intended to record it, in which case add acknowledgment similar to form shown on page 268. It is recommended that such agreements should be recorded.

shall have become due and payable, and receipts for all taxes and water rents assessed and to be assessed on the mortgaged premises shall have been presented to him on or before the First day of September of each and every year, and the buildings thereon be kept insured against loss or damage by fire for the benefit of the holder of the said bond and mortgage in the sum of Eighteen Hundred ($1800.00) Dollars, and all other provisions contained in said bond and mortgage be complied with in all respects by the said party of the second part.

4. The party of the second part hereby guarantees, assumes, and covenants to make prompt payment of the interest and principal of said bond so secured, together with all taxes and water rents assessed, and to maintain the fire insurance, as aforesaid.

5. All the terms, conditions, stipulations, and provisions contained in said bond and mortgage not inconsistent herewith are to remain in full force and effect.

6. This Agreement is to extend to and bind the respective heirs, executors, administrators, successors, and assigns of the parties hereto.

IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals the day and year aforesaid.

See Form, paragraph 116, page 153. Note the same form can be used for both assignment and extinguishment of ground rents. If the instrument is made to a third person it operates merely as an assignment. If made to the holder of the fee it operates to extinguish it (see paragraph 116-117 on merger).

221. Assignment of Lease.

FOR VALUE RECEIVED, I hereby assign, transfer, and set over to WILLIAM JONES, his heirs, executors, administrators and assigns all my right, title and interest in the within Lease and all benefit and advantage to be derived therefrom.

WITNESS my hand and seal this 13th day of May, A. D. 1909.

Signed, Sealed and Delivered

in the presence of

JOHN DOE,

ROBERT ROE.

ALLEN SMITH. (Seal.)

This assignment is usually indorsed directly upon the lease assigned.

222. Assignment of Right to a Purchase Money Mortgage.

WHEREAS, I, WILLIAM STONE, have this day sold and conveyed unto ISAAC LONG, his heirs and assigns, all that certain lot, &c., for the sum of $1,000.00 of which $500.00 has been advanced by said CHARLES DOLAN, now in consideration of the premises, and of the sum of $1.00 to me in hand paid by the said CHARLES DOLAN, the receipt whereof is hereby acknowledged, I hereby assign and transfer unto the said CHARLES DOLAN, his heirs, executors, administrators, and assigns, my right to a purchase-money mortgage for the amount advanced by him.

IN WITNESS WHEREOF, I have hereunto set my hand and seal this day of , A. D. 19.

TO ALL WHOM THESE PRESENTS SHALL COME, I, E. A. B., of the City of Philadelphia, send Greeting:

WHEREAS O. J. E. and K. M. E. of the City of Philadelphia, by deed bearing date the First day of March, A. D. 1910, and recorded in the office for Recording of Deeds in and for the County of Philadelphia in Deed Book W. S. V. No. 1123, Page 321 &c. have, for and in consideration of the sum of Forty-five Hundred ($4500) Dollars granted and conveyed to me in fee simple with full covenants and general warranties ALL THAT CERTAIN lot or piece of Ground with the buildings and improvements

thereon erected SITUATE on the Northwest Corner of F Street and L Street in the Fiftieth Ward of the City of Philadelphia, CONTAINING in front or breadth on said L. Street sixteen feet, and extending of that width in length or depth between lines parallel with F Street along the West side of F Street One Hundred feet to a certain four feet wide alley running Northwestwardly and Southeastwardly parallel with said L Street, known and described as the Northwest Corner of F and L Street, as by reference to said Deed will more fully appear:

AND WHEREAS, I have received by said delivery and transfer, the said property for the benefit of J. P. P., his heirs, executors, administrators and assigns.

Now KNOW YE that I, the said E. A. B. do by these presents make known, admit and declare that the said premises were so conveyed to me subject to the mortgages thereon existing at the time of the transfer, and that I now hold and will continue to hold the same in trust only for the use and benefit of J. P. P. his heirs, Executors, Administrators and Assigns, and that I have no beneficial interest therein except by what may arise by legal and equitable implications, and I do for myself, my Heirs, Executors and Administrators covenant and agree to and with the said J. P. P. his heirs, Executors, Administrators and Assigns, that I and my Heirs shall and will convey the said premises by good and sufficient deed to the said J. P. P. his heirs, executors, administrators and assigns, as they may direct and require, whenever requested so to do, subject only to such encumbrances as may now be charged against said property.

AND I DO FURTHER for myself, my Heirs, Executors and Administrators covenant and agree to and with the said J. P. P. his Heirs, Executors, Administrators and Assigns, that I or my Heirs shall not do or knowingly suffer, or permit any act, deed, matter or thing whereby the said premises can, shall or may be in any wise impaired, injured, encumbered in title, interest, charge or estate, otherwise howsoever.

IN WITNESS WHEREOF I have hereunto set my hand and seal this first day of April in the year of our Lord One Thousand Nine Hundred and Ten (1910).

Signed, Sealed and delivered

in the presence of us

W. F. L.,

O. J. M.

E. A. B. (Seal.)

CITY AND COUNTY OF PHILADELPHIA, Ss:

On the first day of April A. D. 1910, did, before me the subscriber, a Notary Public for the Commonwealth of Pennsylvania, residing in Philadelphia, personally appear the above named E. A. B. who in due form of law acknowledged the above Indenture to be his act and deed, and that the same might be recorded as such.

WITNESS my hand and Notarial seal the day and year aforesaid. W. F. L., Notary Public.

Unless this declaration of trust is recorded it would not avail against the creditors of E. A. B.

226. Deed in Fee by Individual (Usual Form).

See form, paragraph 53, page 64.

227. Deed in Fee. (Short Form Under Act of 1909.) See paragraph 57, page 76.

228. Form of Deed by Corporation.

See Deed form Par. 53, page 64. Deeds both by and to Corporations are similar in form to the ordinary deed form of individuals except that after the name of the corporation is put the words "Its successors and assigns" instead of "heirs" as in the case of individuals. Also where conveyance is made by a corporation take care to add the Corporation form of acknowledgment, as set forth in form Par. 211.

229. Deed to Husband and Wife as Tenants by Entirety.

The deed form used to convey property to husband and wife as Tenants by Entirety is the same as the ordinary deed form shown in Par. 53 on page , except that after the operative words or granting clause (see paragraph 54, d) and immediately before the description are inserted the words "As Tenants by Entireties"* so that the clause would read as follows:

*It is customary to insert the words “As tenants by entireties," although it has been decided that a husband and wife cannot hold title jointly in any other way (See Par. 5d, ante). Nevertheless all the title companies in Philadelphia still require the insertion of said words before approving the deed, possibly because of a doubt expressed by the Supreme Court in the case of Merritt v. Whitlock, 200 Pa. 50. It is submitted that this doubt has been removed by the case of Hoover v. Potter, 42 Pa. Super. 21, cited with approval though not on this exact point in Rhodes' Estate, 232 Pa. 492.