enjoyed accordingly, without let, eviction, ejection, or disturbance of or by the said (mortgagor), or any other person or persons whomsoever, and that free from all incumbrances whatsoever. No. I. Mortgageby way of UnderLease, with usual Covenants. 14. AND MOREOVER, that the said (mortgagor), and all persons For further rightfully claiming any estate or interest, legal or equitable, assurance. in the said messuage or tenement, farm lands and premises, shall and will from time to time and at all times during the continuance of this mortgage security, at the request of the said (mortgagee), his executors, administrators or assigns, but at the costs of the said (mortgagor), his executors, administrators or assigns, enter into and execute all such further assurances for the better or more satisfactorily assuring or confirming the said messuage or tenement, farm lands and premises, unto the said (mortgagee), his executors, administrators or assigns, for all the then residue of the said term of ninety-nine years, excepting the last day thereof, according to the true intent and meaning of these presents, as the said (mortgagee), his executors, administrators or assigns, or his or their counsel in the law, shall require. against damage by fire. 15. AND ALSO, that the said (mortgagor), his executors, adminis- To insure trators, or assigns, will at all times during the continuance of this security keep all buildings upon the said mortgaged premises insured against damage by fire in some respectable insurance office in England in the sum of £ , or upwards; AND ALSO, that in default thereof it shall be lawful for the said (mortgagee), his executors, administrators or assigns, to effect such insurance or insurances, in his or their own name or names, and to pay the premiums thereupon, and to add the same to the principal moneys hereby secured, which shall carry interest at the rate of 51. for every 1001 by the year, from the time at which such payments be so respectively made as aforesaid, and be to all intents and purposes a further charge upon the said mortgaged premises. [ADD covenants from mortgagee not to exercise power of sale without giving mortgagee due notice, and that mortgagor shall enjoy until default; ut ante, Section II., No. II., clauses 13 and 14, p. 49.] IN WITNESS, &c. No. II. MORTGAGE OF LEASEHOLD TENEMENTS BY WAY OF ASSIGN- Practical suggestions. 1. THIS INDENTURE, made the day of A.D. 18, BETWEEN (mortgagor), of, &c., of the one part, and (mortgagee), of, &c., of the other part. [RECITE lease to mortgagor; Vol. I., Part II., Section II., No. I., clause 2, p. 243.] (a) (a) If the lease is renewable, insert a recital to that effect, as in the form, Vol. I., note A., p. 243. 2. AND WHEREAS the said (mortgagor) has requested the said (mortgagee) to lend him the sum of 480l. on the security of the said leasehold tenements and premises, (b) which the said (mortgagee) has agreed to do. No. II. Mortgage of Renewable Leasehold Tenements by way of Assignment. loan. Testatum. 3. Now THIS INDENTURE WITNESSETH, that in consideration Recital of of the sum of 4807. sterling, this day paid by the said (mortgagee) agreement for to the said (mortgagor), the receipt of which the said (mortgagor) hereby acknowledges, and therefrom doth release the said (mortgagee), his heirs, executors, administrators, and assigns, HE the said (mortgagor) DOTH by these presents assign unto the said (mortgagee) ALL [HERE DESCRIBE parcels.] AND all rights, General words. members and appurtenances to the said premises belonging: All estate AND all the estate, right, title and interest, both legal and deeds clause. equitable, of him the said (mortgagor) therein; together with the said hereinbefore recited indenture of lease, and all other documents relating to the title of the said tenements and premises in the possession of the said (mortgagor), or which he can obtain without suit. (c) clause, and all (b) If a policy of assurance is to be assigned by way of additional security, add here A. "And an assignment of a policy of assurance which the said Recital of (mortgagor) has effected on the life of (A. B.), one of the lives advance money upon which the said lease is determinable." (c) If a policy of assurance is to be assigned as a collateral security, add here agreement to assurance. B." AND ALSO all that policy of assurance under the hands of Assignment of three of the directors of the LAW PROPERTY AND LIFE ASSUR ANCE SOCIETY, dated the £ is expressed to be assured upon the life of the said (A. B.), in consideration of the annual premium of £ the said office on the day of to be paid to and sums of money to become due or recoverable upon or by virtue of the said policy of assurance, with full power for the said (mortgagee), his executors, administrators and assigns, in the name policy of assurance. No. II. Mortgage of Renewable Tenements by way of Habendum to mortgagee for residue of term. 4. TO HAVE AND TO HOLD the said (short general description) and all and singular other the premises hereinbefore described and Leasehold hereby assigned, with their appurtenances, unto the said (mortgagee), his executors, administrators and assigns, for all the residue Assignment. of the said term of ninety-nine years determinable (d) as aforesaid; and for all other the estate, term and interest of him the said (mortgagor) therein, freed and absolutely discharged, or otherwise and well and sufficiently indemnified by the said (mortgagor), his heirs, executors or administrators, of and from the payment of the rents and observance and performance of the covenants, conditions and agreements reserved and contained in the said hereinbefore recited indenture of lease; SUBJECT NEVERTHELESS to the proviso for redemption, and the powers, provisoes, declarations and agreements hereinafter declared. (e) Proviso for redemption. 5. PROVIDED ALWAYS, that if the said (mortgagor), his executors, administrators or assigns, shall on the day of next pay unto the said (mortgagee), his executors, administrators or assigns, the sum of 4801. sterling, with interest for the same at the rate of 5l. for every 100l. by the year, without deduc Habendum: policy of assurance. of, and as the attorney or attorneys irrevocable of him the said (mortgagor), his executors, administrators or assigns, or otherwise, to ask, demand, sue for, recover and receive, and to give good and sufficient discharges for the same, with power to appoint a substitute, or all, any or either of the purposes aforesaid, and such substitution and appointment at pleasure to revoke." (d) If a policy of assurance is assigned, add C. "AND TO HAVE, HOLD, RECEIVE AND TAKE the said policy of assurance and all and singular the said hereby lastly assigned premises unto the said (mortgagee), his executors, administrators and assigns for his and their own absolute use and benefit; but subject also to the proviso for redemption hereinafter contained." (e) If the lease is renewable, add here— "and renewable,” tion, and also all such sums of money not exceeding the limit in amount hereinafter mentioned, as the said (mortgagee), his executors, administrators or assigns, may expend in respect of the nonpayment of the reserved rents, or nonperformance of the covenants contained in the said recited lease, or in insuring any part of the said premises from damage by fire, together with interest for the same at the rate aforesaid, from the time at which such expenditure was made, then the said (mortgagee), his executors, administrators or assigns, will, at the request and costs of the said (mortgagor), his executors, administrators or assigns, reassign the said tenements and premises unto the said (mortgagor), his executors, administrators or assigns, free from all incumbrances occasioned therein by the said (mortgagee), his executors, administrators or assigns. [INSERT HERE power of sale, indemnity to purchasers, and trust for the application of purchase moneys, pursuant to instructions laid down in last precedent, clause 8, p. 160. AND ADD covenant from mortgagor for payment of principal and interest; ut ante, Section II., No. II., clause 9, p. 37.] No. II. Mortgage of Renewable Tenements by Leasehold way of Assignment. 6. ALSO that the said hereinbefore recited indenture of lease is Covenant from mortgagor a good, valid and subsisting lease for the premises thereby demised, that lease is and is still in force for all the unexpired residue of the said term of ninety-nine years determinable(ƒ) as aforesaid. a valid and subsisting lease. 7. ALSO that the rents and covenants reserved and contained to pay rent and perform in the said recited lease have been duly paid and performed covenants. up to the day of the date hereof; AND FURTHER, that the said (mortgagor) shall and will, from time to time and at all times. during the continuance of this mortgage security, duly pay the said rents and perform the said covenants in such indenture reserved and contained on the tenant or lessee's part to be paid and performed. 8. AND ALSO that the said (mortgagor) now hath in himself That mortgagor has good right good right to assign the said tenements and premises unto the said to assign. (f) If the lease is renewable, add "and renewable." |