, CONVEYANCE SUBJECT TO A GAGE. till after certain events. ALSO, and it is hereby agreed and declared, that the said A. B., C. D., and E. F., or the survivors or survivor of them, or the executors or administrators of such survivor, their or his assigns, will not, and shall not execute the power of sale hereinbefore con- be exercised tained, unless and until the said principal sum of £—— shall have become payable, according to the covenants and provisoes in that behalf hereinbefore contained, nor unless and until they, the said A. B., C.D., and E. F., or the survivors or survivor of them, or the executors or administrators of such survivor, their or his assigns, shall have previously given a notice in writing to the said I. K., his heirs, executors, administrators, or assigns, to pay off the monies which, for the time being, shall be due or owing on the security of these presents, or left a notice in writing to that effect at the office of in and default shall have been made in payment of such monies, or some part thereof, for the space of six calendar months from the time or respective times of giving or leaving such notice, or unless and until some half-yearly payment of interest which shall become due on the security of these presents, or a part of some such half-yearly payment, shall have become in arrear for the space of three calendar months after the day on which the same shall become due: PROVIDED ALSO, and it is hereby agreed Purchaser not and declared, that upon any sale purporting to be made in pursuance of the aforesaid power in that behalf, the purchaser or purchasers shall not be bound to inquire whether any of the cases mentioned in the clause or proviso lastly hereinbefore contained has happened, nor whether any money remains due upon the security of these presents, nor as to the necessity or expediency of the sti pulations subject to which such sale shall have been made, nor otherwise as to the propriety or regularity of such sale, and notwithstanding any impropriety or irregularity whatsoever in any such sale, the same shall, as regards the safety and protection of the purchaser or purchasers, be deemed and taken to be within. the aforesaid power in that behalf, and be valid and effectual accordingly; and the remedy of the said I. K., his heirs or assigns, in respect of any breach of the clause or proviso lastly hereinbefore contained, or of any impropriety or irregularity in any such sale, shall be in damages only: AND IT IS HEREBY also agreed and declared, that upon any such sale as aforesaid, the receipt or receipts in writing of the said A. B., C. D., and E. F., or the survivors or survivor of them, or the executors or administrators of such survivor, their or his assigns, for the to be bound to see that such events have happened. Receipts of the mortgagees to be discharges. SUBJECT TO A FIRST MORT GAGE. chase money. CONVEYANCE purchase-money of the premises to be sold, shall be an effectual discharge, or effectual discharges, to the purchaser or purchasers, for the money therein respectively expressed to be received; and that such purchaser or purchasers, after payment of his or their purchase-money, shall not be concerned to see to the application of such money, nor be answerable for any loss, misapplication, or Trusts of pur- non-application thereof: AND IT IS HEREBY further agreed and declared, that the said A. B., C. D., and E. F., and the survivors and survivor of them, and the executors or administrators of such survivor, their or his assigns, shall hold all and singular the monies which shall arise from any sale which shall be made in pursuance of the aforesaid power, in that behalf, upon the trusts following; (that is to say), UPON TRUST, in the first place, by, with, or out of the same monies, to reimburse themselves, or himself, or pay or discharge all the costs and expenses attending such sale or sales, or otherwise to be incurred in or about the exercise of the said power of sale, or in anywise relating thereto, or otherwise, in respect of the premises; And, in the next place, upon trust to apply such monies in or towards satisfaction of all and singular the monies which, for the time being, shall be due or owing on the security of these presents; And then, upon trust to pay the surplus (if any) of the same monies which shall arise from any such sale as aforesaid, to the said I. K., his heirs and assigns, for his and their own use and benefit: AND IT IS HEREBY also agreed and declared, that the aforesaid power of sale shall and may be exercised by any person and persons who, for the time being, shall be entitled to receive, and give a discharge for the monies which, for the time being, shall be due or owing on the security of these presents: PROVIDED ALWAYS, and it is hereby agreed and declared, that the said A.B., C. D., and E. F., or any of them, their or any of their executors, administrators, or assigns, shall not be answerable or accountable for any involuntary losses which may happen in or about the exercise and execution of the aforesaid power and trusts, or any of them: PROVIDED ALSO, and it is not to affect the hereby lastly agreed and declared, that the aforesaid power of sale, or anything herein contained, shall not in anywise prejudice or affect the right of the said A. B., C. D., and E. F., or of the survivors or survivor of them, or of the heirs, executors, or administrators of such survivors, their or his assigns, to foreclose the equity of redemption of the premises aforesaid, or of the unsold part thereof for the time being. IN WITNESS &c. Power to be exercised by any person entitled to the purchase money. Mortgagees not to be liable for involuntary losses. Power of sale right of fore closure. III. CONVEYANCE of FREEHOLDS and LEASEHOLDS, by THIS INDENTURE, made &c., BETWEEN A. B., of &c., and Parties. years for raising certain sums of money], of the second part; G. H., of &c., [the married woman (a)] of the third part; I. K., of &c., [the owner of the inheritance in reversion], of the fourth part; L. M., of &c., [the purchaser], of the fifth part; and N. O., of &c., P. Q., of &c., and R. S., of &c., [the mortgagees], of the sixth part; [recitals, shewing, that, under the will of X. Y., and a marriage Recitals of title; settlement, a freehold messuage and hereditament stand limited to the use of A. B. and C. D., their executors, administrators, and assigns, for the life of G. H., for her separate use; with remainder to the use of E. F., for a term of 1000 years, in trust, by sale or otherwise, to raise certain sums of money, and with power to give receipts, and subject thereto to I. K., his heirs and assigns, and that, by virtue of the same will and settlement, certain leasehold hereditaments are vested in A. B. and C. D., for the life of G. H., for her separate use, and subject thereto, belong to I. K.]: AND WHEREAS of the conthe said G. H. hath contracted and agreed with the said L. M. for the absolute sale to him of all the estate, right, title, and interest of her the said G. H., as devisee, under the will of the said X. Y., *of, in, to, and out of the said mansion and dwelling-house, land, and hereditaments hereinafter more particularly mentioned and intended to be hereby released, and the appurtenances, free from in (a) When property is settled to the separate use of a married woman, it is unnecessary and improper to make her husband a party to any deed affecting it. tract for sale of the life estate FREEHOLDS AND LEASEHOLDS. -of the contract for sale by the termor and reversioner; cumbrances, at or for the price or sum of £: AND WHEREAS the said E. F., as the trustee of the said term of 1000 years, created by the said will of the said X. Y., as hereinbefore is mentioned, and for the purposes thereof, and the said I. K., have contracted and agreed with the said L. M. for the sale to him of the fee simple and inheritance in reversion or remainder expectant upon the determination of the life estate of the said G. H. of and in the said mansion and dwelling-house, land, and hereditaments hereinafter particularly mentioned and intended to be hereby released, and the appurtenances, free from incumbrances, at or for of the agree the price or sum of £ —: AND WHEREAS, upon the treaty for the said last-mentioned sale, it was agreed that the whole of the last-mentioned said purchase-money, or sum of £ —, should be paid to the said purchase-money E. F., as trustee of the said term of 1000 years, created by the should be paid said will of the said X. Y., and for the purposes thereof: AND WHEREAS the said G. H. and I. K. have contracted and agreed with the said L. M. for the absolute sale to him of the said piece or parcel of ground, stable, coach-house, and other the premises comprised in the said indenture of lease of the - day of with the appurtenances, for the residue now to come of the said term of years, with the benefit of the said covenant for renewal, free from incumbrances, (except as hereinafter mentioned), ment that the whole of the to the trustee of the term; -of the con tract for sale of the leaseholds; ―of the agree- at or for the price or sum of £ : AND WHEREAS, the said ment for the mortgage. Witnesseth. Considerations and receipts. N. O., P. Q., and R. S. have agreed to advance and pay the se £ —, and £ amounting together veral sums of £ FREEHOLDS LEASEHOLDS. the freehold by the direction of the purchaser to the mort gagees. also, in consideration of the sum of £, to the said E. F., at the same time, at the request and by the direction of the said L. M., and with the privity and approbation of the said I. K., (testified by their respectively being parties to, and executing these presents), paid by the said N. O., P. Q., and R. S., (the receipt and payment of which said sum of £- —, they the said E. F. and I. K. do hereby respectively acknowledge, and from the same and every part thereof do, and each of them doth, acquit, release, and discharge, as well the said N. O., P. Q., and R. S., and each of them, their and each of their heirs, executors, administrators, and assigns, as the said L. M., his heirs, executors, administrators, and assigns, for ever, by these presents (b)), they, the said Conveyance of A. B. and C. D., according to their estate and interest, and by the direction and appointment of the said G. H., (testified by this deed or writing, by her sealed and delivered), and at the request of the said L. M., (testified as aforesaid), do, and each of them doth, by these presents, (made in pursuance of an act, &c. See infra, Vol. V. p. 266), release, and the said G. H., according to her estate and interest, and at the request of the said L. M., (testified as aforesaid), doth by these presents, (made in pursuance of the act aforesaid), grant, release, and confirm, and the said E. F., at the request of the said L. M., and with the privity and approbation of the said I. K., (testified as aforesaid), and to the intent that the said term of 1000 years, created by the said will of the said X. Y., as aforesaid, in the said hereditaments hereinafter particularly mentioned, and intended to be hereby released, may be merged and extinguished, in the reversion, freehold, and inheritance of the same hereditaments, doth, by these presents, assign and surrender, and the said I. K., according to his estate and interest, and at the request of the said L. M., (testified as aforesaid), doth, by these presents, (made in pursuance of the act aforesaid), grant, release, and confirm, and the said L. M. doth, by these presents, remise and confirm unto the said N. O., P. Q., and R. S., their heirs and assigns, ALL THAT [Parcels-General words], AND ALL THE ESTATE, &c.; TO HAVE AND TO HOLD the said messuage or mansion-house, ground, and hereditaments, and all and (b) The consideration for the sale of the leasehold is stated in the subsequent witnessing part, as the title to the leaseholds is altogether different from that of the freeholds; a case in which the general rule (infra, Vol. III. p. 259, n. (e)) does not apply. Habendum to mortgagees, subject to redemption. |