« AnteriorContinuar »
to the rights of the said C. D., to exercise all or any of the powers and authorities now vested in him, in respect of his said estate for life, of and in the hereinbefore mentioned hereditaments and premises, or otherwise howsoever, unio and to the use of the said [mortgagee,] his heirs and assigns for ever, freed and absolutely discharged from the estate tail of the said A. B., and all other estates tail, remainders, reversions, limitations, and conditions, thereupon expectant or depending; but subject, nevertheless, to the proviso or agreement for redemption of the said remainder hereditaments and premises hereinafter contained ; (that is to say,) [Add proviso for redemption, p. 72; covenant for payment, p. 97 ; powers of sale, p. 55 ; covenants for title, p. 98; and proviso for enjoyment till default, p. 72.] 'In witness, &c.
MORTGAGE BY TRUSTEES OF A TERM, WITH THE
CONCURRENCE OF THE TENANT FOR LIFE.
This indenture, made, &c., between, &c., [trustees,] of the first part, C. D., (tenant for life,] of the second part, and E.F., [mortgagee,] of the third part, [Recite the settlement or will, and the contract for loan, p. 26.] And whereas the said C. D. hath, for further securing the repayment of the said sun of L. and interest, consented to concur in these presents, for the purpose and in manner hereafter mentioned. Now, this indenture witnesseth, that, in consideration, &c. [State the receipt of the mortgage-money by the
• In order to avoid any question as to the right to the equity of redemption, and to supersede the necessity of enrolling the mortgage-deed, the tenant in tail may execute the necessary assurance for barring the entail, and limiting the estates required, by a deed to be executed and enrolled according to the act; and then execute the mortgage-deed in the usual way.
trustees, and a nominal consideration by C. D.] They, the said (trustees,] at the request, and with the privity and approbation of the said C. D., testified, &c., have, and each of them hath bargained, sold, assigned, transferred, and set over, and, &c., and the said C. D. hath granted, bargained, sold, assigned, and confirmed, and, &c., unto the said E. F., his executors, administrators, and assigns, all, &c., (sce p. 40.) Habendum unto the said [mortgagee,] his executors, Premises. administrators, and assigns, from henceforth, for and habendum. during all the rest and remainder now to come and unexpired of the said term of five hundred years therein, without impeachment of waste; yielding and paying therefore yearly, and every year during the said term, the rent of a peppercorn, (if demanded.) Provided always, &c., that if the said C. D., his Proviso for
redemption. beirs, executors, administrators, or assigns, or any other person or persons who shall or may be seised of or entitled to the said hereditaments and premises, contained in the said in part recited indenture of settlement, or any of them, do and shall well and truly pay, &c., fas in p. 72,] then and from thenceforth this present indenture, and the grant, demise, and assignment hereby made, and every clause and sentence herein contained, shall cease, determine, and be absolutely void, any thing, &c., to the contrary, &c. [Add a covenant from the trustees that Covenant. they have done no act to incumber, p. 89; and covenants by the tenant for life for payment, p. 97, and for title, p. 100 ; and proviso for enjoyment till default, p. 72.] In witness, &c.
MORTGAGE BY THE EXERCISE OF A POWER OF
This indenture, made, &c., between the mortga- Parties. gor] of the one part, and [mortgagee] of the other part. (Recite the deed creating the power, (setting forth the words of the power fully,) and the agree
Testatum. ment for the loan, p. 26.] Now, this indenture wit
nesseth, that, &c., [here add the appointment, which will be similar to appointments in an absolute conveyance, see p. 356 ;'] subject nevertheless to the proviso for the redemption of the said hereditaments hereinafter contained ; (that is to say,) [Add a proviso for redemption, as in p. 72 ; covenant for payment, p. 97; and common mortgage-covenants, as in
p. 98; or after the following concise form :7 And that the the said A. B., for himself, his heirs, executors, power was well created, and administrators, ou
and administrators, doth hereby covenant, promise, and is now and agree to and with the said [mortgagee,] his in force.
heirs and assigns, in manner following ; (that is to say,) that the said power of appointment given or reserved to him, the said [mortgagor,] by the said recited indenture of release, of, &c., was well and effectually created ; and that the same is now in
full force, and in no wise suspended, extinguished, And hath full or impeached. And that he, the said [mortgapower to limit
nit gor,] hath full power to limit and appoint the said and appoint.
hereditaments and premises to the use of the said [mortgagee,] his heirs and assigns, (and if in trust
for sale, say, “ upon the trusts and in manner aforeAnd to enter said ;”] and it shall and may be lawful for the said in default of mortgagee,] his heirs or assigns, at all times after payment, &c.
default shall have been made by the said [mortgagor,] his heirs, executors, administrators, or assigns, in
If the deed creating the power is recited, and the power fully set forth in such recital, it will be sufficient to state in the operative part, that the mortgagor “doth by these presents direct, limit, and appoint,” if such are the words of the power ; but if the deed and power be not so recited, the power must be referred to, as in p. 356. - Here may be added, “ And that by the exercise hereby made of the said power, the said hereditaments and premises mentioned, and intended to be hereby limited and appointed, will be well and effectually conveyed and assured to the use of the said [mortgagee,] his heirs and assigns, subject to the proviso hereinbefore contained for redemption of the said hereditaments and premises."
payment of the said sum of L. and interest, or any part thereof respectively, contrary to the true intent and meaning of these presents, peaceably and quietly to possess and enjoy the said premises, and to receive the rents, issues, and profits thereof, without any interruption or disturbance from him, the said [mortgagor,] or his heirs, or from any person or persons whomsoever ; and that absolutely discharged Free from in
cumbrances. or otherwise by the said [mortgagor,] his heirs, executors, or administrators, indemnified, from all conveyances, charges, and incumbrances whatsoever. And Further asfurther, that he, the said [mortgagor, 7 and his heirs, surance.; and all persons whatsoever lawfully and equitably claiming, or to claim, any estate or interest in the said hereditaments or premises, or any part thereof, shall and will, upon the request of the said [mortgagee,] his heirs or assigns, but at the costs and charges of the said [mortgagor,] his heirs, executors, administrators, or assigns, execute all such further assurances as may be required by him, the said [mortgagee,] his heirs or assigns, for limiting, appointing, or conveying the said premises to the use of the said [mortgagee,] his heirs and assigns, in manner aforesaid. Provided Proviso for always, that it shall be lawful for the said [mortga- enjoy until
mortgagor to gor,] his heirs or assigns, to enjoy the said premises default. without the disturbance of the said [mortgagee,] his heirs or assigns, until default shall be made in payment of the said sum of, &c., or the interest thereof, or any part thereof respectively. In witness, &c.
A SHORT FORM OF A MORTGAGE, WITH TRUSTS FOR
SALE, WHERE THE MONEY IS ADVANCED FOR A
This indenture, made, &c., between A. B., [mort- Parties. gagor,] of the first part, C. D. and E. F., [mortgagees,] of the second part, and G. H., [trustee,] of the third part. [Recite the mortgagor's title, and the contract for the loan, to be secured by a convey
permit the mortgagor to
ance in trust to sell.] Now, this indenture witnesseth, that, in pursuance of the aforesaid agreement,' and in consideration of, &c. [Here convey the pro
perty according as it may be freehold, copyhold, or Upon trust to leasehold.] Habendum upon trust, that he, the said
e [trustee,] his [heirs) and assigns, do and shall permit receive the the said [mortgagor,] his [heirs] and assigns, to rerents until ceive the rents and profits of the said premises until the time ap
the day of and in case the said (mortpayment of gagor,] his heirs, executors, or administrators, shall the money and do on such day of pay unto the said lent.
[mortgagees,] their executors, administrators, or assigns, the aforesaid sum of L. with interest thereon, after the rate, &c., then upon trust to reconvey and reassure the aforesaid and premises
unto the said [mortgagor,] his [heirs] and assigns, Upon default, or as he or they shall direct; but in case default shall
on be made in payment of the principal and interest
moneys hereby secured, then, and immediately after such default, upon trust, that he, the said (trustee,] his heirs, executors, administrators, and assigns, do and shall enter upon, receive, and take the rents and profits of the said hereditaments and premises ; and as soon after as conveniently may be, sell and dispose of the same, or any part or parts thereof, either by public auction or private contract, or both of such ways, for the best price or prices that can be obtained ; and convey the same hereditaments and premises, when sold, to the purchaser or purchasers
thereof, or as he or they shall direct. And it is the money.
hereby declared, that the said (trustee,] his heirs, executors, administrators, and assigns, shall stand possessed of the money arising from such sale, and of the rents and profits of the said premises in the
to enter upon and sell.
* If the consideration is stated as paid conjointly, one stamp only will be payable upon the gross amount; but it the nortgagees are treated as tenants in common of the money by stating it to be paid in equal or other proportions, hen an ad valorem duty will be payable upon each sum,