No. 1. by Appointment, Grant, and Release, with a Power of Sale. tees, heirs or assigns, produce and show forth unto the intended Mortgage in Fee purchaser or mortgagee, his heirs or assigns, or his or their attorney, solicitor, agent or counsel, all and singular the title deeds and muniments of title relating to the said hereditaments and premises, in the custody or possession of the said (mortgagee), his heirs, executors, administrators or assigns, or which he or they can procure without suit; and at such like request and costs furnish true and attested or other copies, extracts or abstracts, and permit the same to be examined and compared with the originals.” * See practical observations upon the inconvenience of the practice of mortgagor being unable to compel mortgagee to produce the title deeds, ante, p. 4, note (a). No. II SHORT FORM OF MORTGAGE BY APPOINTMENT, GRANT, AND 1. Parties. 12. For further assurance. 2. Recital of conveyance to dower 13. Covenant from mortgagee not to uses. 3. Of agreement for loan. 4. Testatum: mortgagor appoints, and 5. Habendum to mortgagee in fee. 6. Proviso for redemption. 7. Power of sale. 8. Foreclosure clause. 9. Covenant from mortgagor to pay 10. That he has good right to convey. exercise power of sale without giving mortgagor six calendar months' previous notice. 14. That mortgagor shall enjoy until default. Substituted and additional Clauses. B. Covenant to insure against fire. Parties. Recital of conveyance to dower uses. day of A.D. 185 1. THIS INDENTURE, made the BETWEEN (mortgagor), of, &c., of the one part, and (mortgagee), of &c., of the other part. and 2. WHEREAS by indenture dated the day of made between (vendor), esquire, of the first part, the said (mort_ gagor), of the second part, and (mortgagee's dower trustee), of the third part, the hereditaments and premises hereinafter described were limited to such uses as the said (mortgagor) should at any time by deed appoint, and in default of such appointment, TO THE USE of the said (mortgagor) for life, without impeachment of waste, with a limitation TO THE USE of the said (dower trustee), his executors and administrators, during the life of, and in trust for the said (mortgagor) and his assigns, with the ultimate limitation TO THE USE of the said (mortgagor), his heirs and assigns for ever. No. II. Mortgage by Appointment, Grant, and Release, with Powers of Sale and Covenants. for loan. 3. AND WHEREAS the said (mortgagee) at the request of the of agreement said (mortgagor), hath agreed to advance him the sum of 6007. on the security of the said hereditaments and premises. mortgagor 4. NOW THIS INDENTURE WITNESSETH, that in pursuance of Testatum : the said agreement, and in consideration of the sum of 6007. appoints and also grants and sterling this day paid by the said (mortgagee) to the said (mortgagor), releases. the receipt of which the said (mortgagor) hereby acknowledges, and therefrom doth release and for ever discharge the said (mortgagee), his heirs, executors, administrators and assigns; HE the said (mortgagor) in execution of the power reserved to him by the said herein before recited indenture, DOTH by this present deed absolutely and irrevocably appoint, (a) [and by way of further assurance DOTH by these presents grant, release and confirm unto the said (mortgagee) and his heirs], ALL [DESCRIBE parcels.] AND all rights, members and appurtenances to the said premises belonging, AND all the estate, right, title and interest, both legal and equitable, of him the said (mortgagor) therein: TOGETHER with all deeds and writings relating to the title thereof, in the possession of the said (mortgagor), or which he can obtain without suit. 5. TO HAVE AND TO HOLD the said (short general description), and Habendum to mortgagee in all and singular other the hereditaments and premises hereinbefore fee. (a) If the mortgage is to be by a simple appointment only, omit the words within brackets above, and also the habendum clause, and substitute in place thereof the assurance is A. “THAT ALL, &c. (DESCRIBE parcels) with their rights, Variation where members and appurtenances, shall from henceforth be and enure by way of TO THE USE of the said (mortgagee) his heirs and assigns for ever." ,, appointment. No. II. Mortgage described, and hereby granted and released, with their appurtenances, unto the said (mortgagee) and his heirs, TO THE USE of by Appointment him the said (mortgagee), his heirs and assigns for ever; SUBJECT Release, with NEVERTHELESS to the proviso for redemption, and the powers, Powers of Sale and Covenants. provisoes and declarations hereinafter contained. Grant, aud Proviso for redemption. Power of sale. 6. PROVIDED ALWAYS, that if the said (mortgagor), his heirs, executors, administrators or assigns shall, on the day of next, pay unto the said (mortgagee) his executors, administrators or assigns, the sum of 6007. sterling, together with interest for the same at the rate of 51. for every 100l. by the year without deduction, THEN the said (mortgagee), his heirs or assigns, will at any time thereafter, at the request and costs of the said (mortgagor), his appointees, heirs or assigns, reconvey the said hereditaments and premises unto the said (mortgagor), his appointees, heirs and assigns, free from all incumbrances created therein by the said (mortgagee), his heirs or assigns. 7. PROVIDED ALSO, that if default shall be made in payment of the said sum of 6007. and interest, or any part of the same, at the time hereinbefore appointed for payment thereof, THEN, and at any time thereafter, it shall be lawful for the said (mortgagee), his heirs, executors, administrators or assigns, either with or without the concurrence of the said (mortgagor), his heirs or assigns, to sell the said hereditaments and premises, or any part thereof, by public auction or private contract, either together or in parcels, for such price as may appear reasonable, with power to buy in and re-sell the same, without being responsible for any loss that may be thereby incurred; AND ALSO to enter into such contracts, stipulations and conveyances as may be deemed expedient for the purpose of perfecting such sale or sales; and also to give receipts for the purchase-moneys, which shall effectually exonerate the parties paying the same from all responsibility with respect to the application thereof, or from inquiring into the necessity or expediency of any such sale or sales, or whether any such default in payment as aforesaid shall have been made. AND do and shall stand possessed of the purchase-moneys, IN TRUST, first, to defray the incidental expenses of such sale or sales; secondly, to retain the said principal sum of 600l. and interest, or so much thereof as shall be then due on this security; and thirdly, to pay over the surplus moneys (if any) to the said (mortgagor), his heirs, executors, administrators or assigns. No. II. Mortgage 8. PROVIDED ALSO, that this power of sale shall not deprive and Covenants. the said (mortgagee), his heirs, executors, administrators or assigns, Foreclosure of the rights and remedies, by foreclosure or otherwise, of a mort- clause. gagee in ordinary cases. (b) mortgagor to 9. AND the said (mortgagor) doth hereby for himself, his Covenant from heirs, executors and administrators, covenant with the said (mort- pay principal gagee), his heirs, executors, administrators and assigns, that he and interest. the said (mortgagor), his executors or administrators, will on the day of next, pay unto the said (mortgagee), his executors, administrators or assigns, the full sum of 6002. sterling, together with interest for the same at the rate of 51. for every 1007. by the year without deduction. (c) to convey. 10. AND ALSO, that he the said (mortgagor) now hath in That he himself good right to convey (d) the said hereditaments and has good right premises, with their appurtenances, unto and to the use of the said (mortgagee), his heirs and assigns, in manner aforesaid. freedom from 11. AND FURTHER, that the same hereditaments and premises For quiet shall or may be held and enjoyed according to the limitations and enjoyment and provisions hereinbefore contained, without let, suit, eviction, incumbrances. denial or disturbance of or by the said (mortgagor), or any other person or persons whomsoever, AND THAT free from all estates, rights, titles, liens, charges and incumbrances whatsoever. 12. AND MOREOVER, that the said (mortgagor), and all persons For further whomsoever rightfully claiming any estate or interest, legal or assurance. (b) If brevity is desirable, the foreclosure clause may be safely omitted: Practical (see ante, page 37.) suggestions. (c) If the interest is to be payable half-yearly, insert here Clause 11 from last precedent, but reserving the interest at 57. instead of 41. per cent. (d) If the assurance is by simple appointment only, for "convey," substitute "appoint." |