No. X. TRANSFER OF MORTGAGE IN FEE OF A FREEHOLD ESTATE BETWEEN (transferror), of, &c., of the first part, (mortgagor), of &c., of the second part, and (transferree), of, &c. of the third part. [RECITE mortgage in fee, ut ante, Section VIII., No I., clause 2, p. 320.] paid at the appointed time, same has been 2. AND WHEREAS the said principal sum of 2,500l. and interest Recital that principal and was not paid off at the time mentioned in the said proviso for interest was not redemption, but the said mortgage debt has been considerably reduced by payments made by the said (mortgagor) to the said but that the (transferror) subsequently to that time, and upon an account this greatly reduced day made up and stated between the said (mortgagor) and (transferror), there appears now to be due and owing to the said (transferror), for principal and interest on his said recited mortgage security, the sum of 500l., and no more, as the said (transferror) doth hereby testify and acknowledge. by subsequent payments. 3. AND WHEREAS the said (transferror) having called upon the of agreement for transfer. No. X. Mortgage in Fee of a Freehold Estate, &c. said (mortgagor) to pay off the said sum of 500l., the said Transfer of (mortgagor) has requested the said (transferree) to advance him the same on the security of the said hereditaments and premises, which the said (transferree) has agreed to do. [INSERT testatum, habendum, and proviso for redemption, ut ante, No. II., clauses 3, 4, and 5, pp. 346, 347; power of sale and foreclosure clause, and usual mortgage covenants, ut ante, Section II., No. II., clauses 7 to 14, inclusive, pp. 46 to 49; AND THEN ADD covenant from transferror that he has done no act to incumber, as in clause 6, No. I., in this present Section, ante, p. 343.] IN WITNESS, &c. No. XI. TRANSFER OF MORTGAGE, WHEN MADE FOR A LESSER SUM BETWEEN (transferror), of &c., of the one part, and (transferree), of the other part. [RECITE mortgage in fee, ut ante, Section VIII., No. I., clause 2, p. 350.] default in 2. AND WHEREAS default was made in payment of the said Recital of sum of 2,000l. and interest, at the time appointed for payment payment. thereof, in the said proviso for redemption. is still due. 3. AND WHEREAS the said principal sum of 2,000l. still remains That principal owing to the said (transferror), upon his said recited mortgage and also a security, as also a considerable sum for arrears of interest. considerable arrear of interest. for transfer. 4. AND WHEREAS the said (transferror) has agreed to convey of agreement his estate and interest in the said mortgaged hereditaments and premises, AND ALSO to assign the whole of the said mortgage debt of 2,000l., and all arrears of interest now due thereon, unto (a) the said (transferree) for the sum of 1,2007. (a) This assurance, although in the form of a transfer of mortgage, is so far Practical considered in the light of a purchase as to require an ad valorem stamp, adapted observations. to a purchase for the amount of the consideration money. No. XI. 5. Now THIS INDENTURE WITNESSETH, that in consideration Transfer of of the sum of 1,2007. sterling, paid by the said (transferree) to Mortgage when made for a the said (transferror) on the execution hereof, the receipt of which lesser Sum than the said (transferror) hereby acknowledges, and therefrom doth release and for ever discharge the said (transferree), his heirs, executors, administrators and assigns, HE the said transferror, DOTH Testatum, by by these presents. [INSERT assignment of mortgage debt, and is Due on the original Mortgage. which trans ferror assigns the mortgage debt and mortgaged premises. arrears of interest; habendum, power of attorney, and further testatum and habendum, subject to subsisting equity of redemption by which the transferror conveys the mortgaged premises, ut ante, Section II., No. XVIII., clauses 5 to 9 inclusive, pp. 129 to 131; AND THEN ADD covenants from transferror that he has done no act to incumber; that he has not received the mortgage debt; and that he will not revoke power of attorney; AND covenant from transferree to indemnify transferror from all costs in respect of actions, &c. prosecuted under power of attorney, ut ante, No. I., clauses 6 to 9 inclusive, pp. 343, 344.] IN WITNESS, &c. SECTION. X. RECONVEYANCE OF MORTGAGED ESTATES. No. I. RECONveyance of a MORTGAGED FREEHOLD ESTATE WHICH HAD BEEN CONVEYED BY WAY OF APPOINTMENT AND RELEASE, AND IS RECONVEYED TO USES TO BAR DOWER. VARIATION WHERE THE MORTGAGE WAS BY GRANT AND RELEASE, and the ReconveyANCE IS SIMPLY IN FEE. No. II. RECONVEYANCE OF MORTGAGED PREMISES BY SURRENDER OF 1,000 YEARS' TERM. No. III.-RECONVEYANCE OF THE RESIDUE OF MORTGAGED PREMISES WHERE A PORTION OF THEM HAVE BEEN SOLD UNDER A POWER of Sale cONTAINED IN THE MORTGAGE DEED. No. IV.-RECONVEYANCE OF THE RESIDUE OF MORTGAGED PREMISES WHERE A PORTION OF THEM HAVE BEEN SOLD FOR THE PURPOSE OF DISCHARGING THE MORTGAGE Debt, the MORTGAGOR PAYING THE REMAINING BALANCE. VARIATION WHERE THE SALE OF THE PREMISES HAS PRODUCED MORE THAN THE MORTGAGE DEBT. No. V.-RECONVEYANCE OF MORTGAGED PREMISES WHERE THERE HAS BEEN A TRANSFER OF THE MORTGAGE. No. VI.-RECONVEYANCE WHERE A MORTGAGE AND PURCHASE HAVE BEEN EFFECTED BY THE SAME INSTRUMENT. No. VII.-RECONVEYANCE OF Freehold and LEASEHOLD PREMISES BY THE DEVISEES IN Trust of a DECEASED MORTGAGEE. VARIATION WHERE A POLICY OF ASSURANCE IS ALSO INCLUded. No. VIII.-RECONVEYANCE OF A PORTION OF MORTGAGED PREMISES UNDER A POWER RESERVED IN THE MORTGAGE DEED FOR THE MORTGAGOR TO REDEEM IN PARCELS. |