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VANCE AND ASSIGNMENT OF TERM.
of insurance for a sum or sums not less in the whole than TRANSFER, the sum of £— , and to be effected in the name of the THER ADsaid E. F. in some office for insurance in London or Westminster, and that he the said C. D. shall and will, imme. diately after such policy or policies shall have been effected, (or immediately after the execution of these presents if the same shall have been previously effected), leave and deposit the same with the said E. F., his executors, administrators, and assigns, and shall and will from time to time duly and punctually pay all and singular the premium or premiums, duty and other sums of money necessary for keeping on foot the said policy or policies, and shall and will make such payments at least ten days before the last day on which the same respectively must be paid, in order to keep on foot the said policy or policies, and shall and will forthwith deliver the receipt for every such payment unto the said E. F., his executors, administrators, or assigns: AND THAT —and that on it shall be lawful for the said E. F., his executors, adminis- neglect by mort
gagor, mortgatrators, and assigns, in case the said C. D., his heirs, exe- gee may insure. cutors, or administrators, shall neglect or refuse to make such payments as aforesaid, or any of them, at any time or times to pay such annual premium or premiums, duty and other sum and sums of money as aforesaid, so as to keep on foot the said policy or policies of insurance; and in case the same shall not be effected, or shall at any time become void or shall not continue on foot, then to insure and keep insured the said messuages, erections, and buildings in any office or offices for insuring against loss or damage by fire in London or Westminster, in any sum or sums not exceeding the sum of £- , and to pay all expenses of effecting such insurance or insurances, and the annual premium or premiums, duty, and sum and sums of money which shall from time to time become payable for keeping on foot such insurance or insurances : AND THAT the said C. D., his -and for seheirs, executors, or administrators, shall and will from time curing to the
mortgagee the to time, on demand, pay or cause to be paid unto the said repayment of
no al onder any sums he E. F., his executors, administrators, or assigns, all and every * such sum and sums of money as shall have been paid or for insurances. advanced by him the said E. F., his executors, administrators, or assigns, in or towards payment of any such premium or
premiums, duty, sum or sums of money or expenses, with interest for the same after the rate aforesaid, from the time or respective times of the same having been advanced or paid, and that in the meantime and until such sum or sums of money shall be so repaid with interest as aforesaid, all and singular the said hereditaments and premises hereinbefore appointed and released, or expressed and intended so to be, shall stand and be charged with and shall not be redeemed or redeemable until full payment shall have been made as well of such sum or sums of money and the interest thereon as of the said principal sum of £2,000 and the interest thereon (c): [Power of sale, supra, p. 474]: AND THIS INDENTURE ALSO WITNESSETH, that, in pursuance of the said agreement in this behalf, and for the considerations aforesaid, he the said A. B., at the request and by the direction of the said C. D., and on the nomination of the said E. F., (testified by their severally being parties to and executing these presents), hath assigned, and by these presents doth assign, unto the said G. H., his executors, administrators, and assigns, All AND SINGULAR the undivided parts or shares and other the
Witnesseth, further assignment of term.
(c) Some observations with regard to the law of fire insurance will be found supra, p. 499, n. (d). A clause is sometimes introduced into the covenants, that all monies received from the office shall either be laid out in rebuilding the property, or at the discretion of the mortgagee be applied in liquidation of the mortgage-debt. The clause is to the following effect:“ and that all and singular the monies (if any) which shall become payable under or by virtue of any of the insurances aforesaid, shall at the option of the said [mortgagee], his executors, administrators, or assigns, be applied either in or towards satisfaction of the principal monies and interest, which shall for the time being be due or owing upon the security of these presents, or in repairing, reinstating, or rebuilding the buildings and premises which shall be damaged or destroyed.”.
A shorter set of covenants relating to fire insurances will be found, supra, p. 514. It will be observed, that there is not in this case any limit to the amount of the advances, as no stamp-duty is payable on advances for keeping up fire insurance. (See supra, p. 523, n. (1)).
the last by the s
WITH FURTHER ADVANCE AND ASSIGNMENT OP TERM.
parts or shares, hereditaments and premises by the said in- TRANSFER, denture of the day of - [the last assignment] assigned to the said (person through whom A. B. claims], his executors, administrators, and assigns, for the residue then to come of the said term of 500 years as aforesaid ; AND ALL And the estate, the estate, &c., TO HAVE AND TO HOLD the said parts or
Habendum. shares and hereditaments, and all and singular other the said premises lastly hereinbefore assigned, or expressed and intended so to be, unto the said G. H., his executors, administrators, and assigns, for all the residue now to come of the said term of 500 years, IN TRUST for the said E. F., his In trust for the
mortgagee, and heirs and assigns, and to assign and dispose of the same as to attend the inhe or they shall from time to time direct or appoint, and in heritance. the meantime upon trust to permit the residue of the said term of 500 years to wait upon and attend the freehold reversion and inheritance of the premises therein comprised, and to protect the same from all mesne incumbrances if any such there be, but subject as to the said term of 500 years, to the same right, title, and equity of redemption as the freehold reversion and inheritance of the same hereditaments and premises now are or hereafter shall or may be subject or liable to under or by virtue of the proviso hereinbefore contained for redemption of the same premises : [covenant by A. B. with G. H., his executors, administrators, and assigns, against incumbrances, supra, p. 458:] AND THIS Witnesseth, INDENTURE ALSO WITNESSETH (c), that, in pur
nur further, the apsuance of the said agreement in this behalf, and in consider- receiver. ation of the premises, he the said C. D. (with the privity of the said E. F., testified by his being a party to and executing these presents) hath nominated, constituted, and appointed, and by these presents doth nominate, constitute, and appoint the said G. H. to be receiver, agent, and attorney, from time to time, in the name of the said C. D., to ask, demand, collect, and receive all and every the rents and profits of the said undivided parts or shares, messuages
Purpointmeut of a
(c) For some observations with regard to receivership deeds, see supra, p. 631, n. (a); p. 634, n. (b); p. 635, n. (c); p. 636, n. (e); and p. 638, n. (f). It will be seen, that in this case the receiver, being the trustee of the attendant term, has the advantage of possessing the legal estate. VOL. III.
TRANSFER, or tenements, hereditaments and premises, hereinbefore ap
pointed and released, or expressed and intended so to be, VANCE AND from the present and future tenants and occupiers thereof,
and the person and persons liable to pay the same respectively, as and when the same shall from time to time become due and payable; and in case of the nonpayment thereof, to take and use such lawful remedies for recovering and obtaining payment of the said rents and profits, or any part thereof, by action, suit, distress, or otherwise, as shall be thought necessary, and further to do, perform, and execute all other matters and things needful and requisite for collecting and receiving the said rents and profits, as fully and
effectually to all intents and purposes as he the said C. D. —with direc- could or might do; and the said C. D. doth hereby order tion to the te
and direct all and every the tenants and occupiers of all the nants to pay to a the receiver. said premises respectively, to pay unto the said G. H. all and
singular the rents and profits of the said premises for the
purposes hereinafter mentioned, and doth hereby declare —whose re- that the receipts of the said G. H. shall be good and sufficeipts are to be sent discharcot
be cient discharges to such tenants or occupiers and persons for good discharges. such rents and profits as they shall respectively pay to him : Trusts of the AND IT IS HEREBY agreed and declared between and by the rents and profits received by
said C. D., E. F., and G. H., that all and every the rents and the receiver. profits which shall be received by the said G. H. shall be
held by him upon and for the trusts, intents, and purposes hereinafter mentioned, (that is to say), upon trust that he
the said G. H. shall and do, by and out of the same, from Firstly,—to time to time, IN THE FIRST PLACE pay all taxes, rates, pay outgoings.
assessments, and impositions whatsoever, now or hereafter to be taxed, charged, assessed, or imposed upon or in
respect of the said premises, and which the respective teSecondly,—to nants or occupiers thereof shall not be liable to pay; AND IN pay the receiver's salary.
THE NEXT PLACE deduct and retain for his own use so much and such sums of money, not exceeding after the rate of £5 for every £100, as he shall reasonably deserve as a compensation and satisfaction for his cares, pains, troubles, and expenses in recovering and paying the said rents and
profits in manner and for the purposes herein mentioned; Thirdly,—to ÄNDIN TUR NEET PLA
AND IN THE NEXT PLACE pay to the said E. F., his execumortgage-debt. tors, administrators, and assigns, by two equal half-yearly
TRANSFER, WITH FURTHER ADVANCE AND ASSIGNMENT
payments on the day of — and the day of — in every year, interest for the said sum of £2,000, or for so much thereof as for the time being shall remain unpaid; VANCE AND AND IN THE LAST PLACE, pay the clear residue and sur- of term. plus which shall remain of the said rents and profits, after Lastly, to pay answering the several purposes aforesaid, unto the said surplus to
mortgagor. C. D., his executors, administrators, and assigns : AND Cor THE SAID G. H. doth hereby for himself, his heirs, exe- receiver to per
form his duty. cutors, and administrators, covenant with the said E. F., his executors, administrators, and assigns, and also with the said C. D., his heirs and assigns, in manner following, (that is to say), that he the said G. H. shall and will from time to time, so long as he shall be the collector or receiver of the rents and profits of the said premises, use his utmost endeavours to collect and receive the same, and shall and will from to time and at all times truly and punctually pay or cause to be paid in manner and to and for the ends, intents, and purposes aforesaid, all such monies as shall from time to time be collected or received by him the said G. H. by virtue of or under the aforesaid powers or authorities : AND THE SAID C. D. doth hereby for himself, his heirs, ex- Covenants by ecutors, administrators, and assigns, covenant with the said mortgage
mortgagee. E. F., his executors, administrators, and assigns, in manner
--not to revoke following, (that is to say), that he the said C. D. shall not the powers of nor will without the consent of the said E. F., his exe- the receiver. cutors, administrators, or assigns, first had and obtained in writing signed with his or their hands, revoke the powers or authorities hereby given to the said G. H., or any of them, or do or suffer to be done any act, matter, or thing whereby the said powers or authorities hereby given, or any of them, may or shall become void or of no effect, or or obstruct hinder or obstruct him the said G. H., or any future him in his dureceiver to be appointed as hereinafter is mentioned, in recovering, collecting, or receiving all or any of the rents and profits of the said premises, upon and for the trusts, intents, and purposes aforesaid, during such time as the said sum of £2,000, or any part thereof, shall remain on the security of the said premises or any of them: AND —and to join FURTHER, THAT, in case the said G. H. shall die, or by any in appointing a