BY MORT GAGOR AND Witnesseth, lastly, release by mortgagee to mortgagor. CONVEYANCE matter, or thing whatsoever, by them the said G. H. and I. K. respectively made &c.; [Covenants that the power MORTGAGEES. exercised by I. K. was well created and is in force :—that I. K. has right to appoint; and that I. K. and G. H. respectively have right to grant and release "the hereditaments secondly herein before particularly mentioned;"—to be quietly enjoyed-free from incumbrances-and for further assurance. See covenants in Precedent XXI. page 233 (i)]: AND THIS INDENTURE ALSO WITNESSETH (k), that, in pursuance of the said agreement in this behalf, and in consideration of the premises, he the said A. B. hath acquitted, released, and discharged, and by these presents doth acquit, release, and discharge the said G. H., his heirs, executors, and administrators, and his and their estates and effects, of and from the said principal sum of £5,000 so due and owing to the said A. B. upon the aforesaid security for the same, as hereinbefore is mentioned, and every part thereof, and of and from all interest now due or henceforth to grow due for the same or any part thereof, and of and from all actions, suits, accounts, reckonings, claims, and demands whatsoever, either at law or in equity, for or in respect of the said principal money or interest, or any part thereof respectively, or for or in respect of any act, matter, or thing, in anywise relating thereto. IN WITNESS &c. Release to mortgagor by mortgagee. THE SCHEDULE above referred to, or referred to in the annexed indenture. (i) There is no exact form, in this work, of the covenants required; but they are not difficult to construct, and to introduce them, would encroach too much on the space allotted to other matters. The same remark will apply in other cases. (k) This release is of little value to the mortgagor, because the deed containing it will remain in the possession of the mortgagee. The mortgagor should take a separate receipt for the amount of the mortgage debt; and, if the case seem to require a release by deed, (as where there have been complicated accounts or arrangements), he will do well, either to have an attested copy of the purchase deed, or a release by a separate deed. XXVII. CONVEYANCE by a VENDOR and a MORT GAGEE of PART of the Estate-the Mortgage CONVEYANCE -ASSIGNMENT AND SURREN Debt and two other Sums secured by two TERMS DER OF TERMS. Recital of vendor being seised THIS INDENTURE, made &c. BETWEEN A. B., of Parties. &c. [mortgagee], of the first part; C. D., of &c. [vendor], of the second part; E. F., of &c.; and G. H., of &c. [the parties beneficially interested in the sums secured by one of the terms] of the third part; I. K., of &c. [trustee of the first term], of the fourth part; L. M., of &c. [trustee of the second term], of the fifth part; N. P., of &c. [purchaser], of the sixth part; Q. R., of &c. [dower trustee], of the seventh part; and S. T., of &c. [trustee to whom the first term is assigned], of the eighth part: [recitals shewing the crea- Recitals. tion of and the title to the terms and monies secured by them -and the creation of the mortgage]: AND WHEREAS the the said C. D. is seised or entitled for an estate of inheritance in fee simple in possession, free from incumbrances of or to the messuages, lands, and other hereditaments secondly hereinafter particularly mentioned, and intended to be hereby released: AND WHEREAS the said N. P. contracted and agreed with the said C. D. for the absolute purchase for purchase; of all the messuages, lands, and other hereditaments hereinafter particularly mentioned, and intended to be hereby released, and the inheritance thereof, in fee simple in possession, free from incumbrances, (except as hereinafter is mentioned), at or for the price or sum of £6,000 AND WHEREAS the said sum of £1,325 still remains due and owing to the said A. B. upon the security in fee of the hereditaments secondly to be mentioned; of contract of mortgage debt being still due; CONVEYANCE ASSIGNMENT AND SURRENDER OF TERMS. -of sum due under the first term ; -of sum due under the second term ; -of agreement for payment of the debts out of the purchasemoney. Witnesseth. Consideration. of the said indenture of the 12th day of November, 1818, [the mortgage deed], but all interest for the same has been paid up to the day of the date of these presents: AND WHEREAS the said sum of £2,000 raiseable under the trusts of the said term of 1,000 years, created by the said Indenture of the 30th day of December, 1766, still remains due; but all interest for the same has been paid up to the day of the date of these presents: AND WHEREAS the said sum of £2,000 raiseable under the trusts of the said term of 1,000 years, created by the said indenture of the 14th day of June, 1796, still remains due; but all interest for the same has been paid up to the day of the date of these presents: AND WHEREAS, upon the treaty for the said purchase, it was agreed that the said sum of £1,325 should be paid to the said A. B. out of the said purchase-money or sum of £6,000; and that the said sum of £2,000 raiseable under the trusts of the said term of 1,000 years, created by the said indenture of the 30th day of December, 1776, and by the said will of the said X. Y. (a), directed to be paid to the said E. F. and G. H. as aforesaid, should also be paid out of the said purchase-money or sum of £6,000 in manner hereinafter mentioned; and that the said sum of £2,000 raiseable under the trusts of the said term of 1,000 years, created by the said indenture of the 14th day of June, 1796, should also be paid out of the said purchasemoney or sum of £6,000 to the said L. M. as hereinafter is mentioned: NOW THIS INDENTURE WITNESSETH, that in pursuance of the said agreement and in consideration of the sum of £1,325 to the said A. B., at or immediately before the sealing and delivering of these presents paid by the said N. P., at the request and by the (a) It may be needful to mention, that the money raiseable under the first term referred to, was subject to the appointment of X. Y., and that he exercised this power by his will. Both the first and second terms were assigned, (with the consent of the persons beneficially interested in them), to the existing trustees thereof, I. K. and L. M., by the mortgage deed of the 12th of November, 1818, with the intention of giving priority to the mortgage over the monies raiscable under the trusts of the terms. -ASSIGNMENT deration. direction of the said C. D., (testified &c.), (the receipt of cONVEYANCE which said sum of £1,325, the said A. B. doth hereby AND SURRENacknowledge, and of and from the same, and every part DER OF terms. thereof, doth acquit, release, and discharge the said C. D., Receipt. his heirs, executors, administrators, and assigns, and also the said N. P., his heirs, executors, administrators, and assigns for ever, by these presents, and doth declare the same to be in full satisfaction and discharge of all principal monies and interest due and owing to him the said A. B. on the said indenture of the 12th day of November, 1818); and also in consideration of the sum of £2,000 at the same Further consitime paid by the said N. P. to the said E. F. and G. H., at the request and by the direction of the said C. D., (testified as aforesaid), and with the privity and consent of the said I. K., (testified &c.), (the receipt and payment in manner aforesaid, of which said sum of £2,000, they the said E. F., G. H., and I. K., do and each of them doth hereby acknowledge &c. (ut supra)), and in consideration of the Further consisum of £2,000 at the same time paid by the said N. P. to the said L. M. (b), at the request and by the direction of the said C. D., (testified as aforesaid), and with the privity and consent of the said E. F. and G. H. (b), (testified &c.), (the receipt and payment, &c., ut supra); and also in con- Further consisideration of the sum of £675 to the said C. D., at the same time paid by the said N. P., (the payment and receipt in manner aforesaid, of which said sums of £1,325, £2,000, £2,000, and £675, he the said C. D. doth hereby acknowledge, and of and from the same &c.); he the said Conveyance. A. B., at the request and by the direction of the said C. D., (testified &c.), and according to the estate and interest of him the said A. B, therein, hath released, and by these presents doth release, and the said C. D. hath granted, aliened, released, and confirmed, and by these presents doth grant, alien, release, and confirm unto the said N. P., (b) E. F. and G. H. were interested in certain shares only of the money raiseable under the trusts of the second terms, but L. M., the trustee of the term, had power to give receipts to the persons advancing or paying the money. Of course, the facts noticed in this and the preceding note appeared on the recitals. deration. deration. -ASSIGNMENT AND SURREN Habendum. Subject to an annual pay ment. To uses. Mortgagee's covenant. Witnesseth, se ment of first term. CONVEYANCE (in his actual possession now being, by virtue of a bargain and sale thereof to him made by the said A. B. and C. D., in conDER OF TERMS. sideration of five shillings a-piece &c., see Precedent XVI. p. 198), and his heirs: FIRSTLY, ALL THAT &c., [parcels subject to the mortgage and portions]: SECONDLY, All that &c., [parcels of which the vendor is seised in fee], [general words]: To HAVE AND TO HOLD the said messuages, lands, hereditaments, and all and singular other the premises hereby released or expressed, and intended so to be, with their appurtenances, unto the said N. P. and his heirs, (freed and discharged from the said sum of £1,325, and all interest for the same, but subject, as to the said premises called or known as, to an annual payment of £2. 11s. 5d.), and as to all and singular the said premises, [to uses to bar dower with a declaration as in Precedent XVII. p. 214], [covenant by A. B. with N. P. against incumbrances, see page 249]: AND THIS INDENTURE ALSO WITcondly, assign- NESSETH, that, for the considerations aforesaid, he the said I. K., at the request and by the direction of the said several persons, parties hereto, of the first, second, and third parts respectively, and upon the nomination and appointment of the said N. P., (testified &c.), hath assigned, and by these presents doth assign unto the said S. T., his Parcels of term. executors, administrators, and assigns: ALL SUCH and so many and such part and parts of the said messuages, lands, hereditaments, and premises hereinbefore released or expressed, and intended so to be, as by the said indenture of the 12th day of November, 1818, were assigned to the said I. K., his executors, administrators, and assigns, for the residue then to come of the said term of 1,000 years, created by the said indenture of the 30th day of December, 1766, and all the estate &c.: TO HAVE AND TO HOLD the said messuages, lands, and other hereditaments, and all and singular other the premises hereinbefore assigned or expressed, and intended so to be, unto the said S. T., his executors, administrators, and assigns, for all the residue now to come of the said last-mentioned term of 1,000 years IN TRUST for the said N. P., his heirs, appointees, and assigns, and to assign and dispose of the same, as he or they shall, from time to time, direct or appoint, and in Habendum. In trust. |