ESTATE.

of a large shall be appointed by the auctioneer, and the expense of every FREEROID valuation, reference, or decision shall be borne by the purchaser and the vendors or outgoing tenant (as the case may be) in equal moieties.

and expenses thereof.

Power to resell in case of default.

XV. THAT if any purchaser shall fail or neglect to comply with any of these conditions, his or her deposit money shall be absolutely retained by the vendors as liquidated damages, and the vendors shall be at liberty to resell the lot or lots purchased by such person, either by public auction or private contract, in all respects, in such manner as they may think fit, and the deficiency in price (if any) arising on such second sale, together with all expenses attending such resale, shall, immediately after such second sale, be paid to the vendors by such defaulter as aforesaid at the present sale, and shall be recoverable by the vendors as and for liquidated damages, and it shall not be necessary for the vendors previously to tender a conveyance to the purchaser or purchasers respectively.

OF REVER-
SIONARY

INTERESTS,

POLICIES,

ANNUITIES,

&c.

Highest bidder.

Advance.

Payment of purchase money.

No. V.

CONDITIONS of SALE as to REVERSIONARY INTE-
RESTS in PERSONALTY, POLICIES, ANNUITIES, LIFE
INTERESTS, &c.

I. THAT the highest bidder shall be the purchaser, and if any dispute should arise between two or more bidders the lot in dispute shall immediately be put up again.

II. THAT no person shall advance less than bidding, and no bidding is to be retracted.

-7. at each

III. THAT every purchaser shall, immediately after the sale, pay into the hands of the auctioneer a deposit of 201. per cent. in part of the purchase money, and sign an agreement for payment of the remainder of such purchase money on or before the next, at the office of Mr. —, at which time and place the purchases are to be completed; and if from any cause whatever such purchase shall not be completed on

day of

SIONARY

the said day of - next, the purchaser shall pay interest oF REVERon the remainder of the purchase money after the rate of 51. INTERESTS, per cent. per annum from that day until the purchase shall be POLICIES, actually completed, without prejudice nevertheless to these ANNUITIES, conditions.

&c.

abstract.

IV. THAT the vendor shall deliver to every purchaser, or to Delivery of his solicitor, an abstract of the title to the lot or lots purchased by him within seven days from the day of sale; and every purchaser shall make his objections and requisitions (if any) in respect of the title to the lot or lots purchased by him, and send the same to the office of the said Mr. within days from the delivery of this abstract; and all objections or requisitions which shall not be made within the time above specified, shall be taken to be waived; and in case any purchaser shall make any objection or requisition which the vendor shall be unable to remove or comply with, or shall be unwilling to incar the expense of removing or complying with, the vendor shall be at liberty to annul the contract: in which case the deposit, without interest, shall be returned to the purchaser, who shall have no claim on the vendor for the expenses of investigating the title or otherwise.

day of

and execu

ance.

V. THAT upon payment of the remainder of the purchase Preparation money at the time and place above mentioned, the vendor shall tion of assur execute proper assignments and assurances to the respective purchasers of the lots purchased by them respectively; but such assignments and assurances are to be prepared by and at the expense of the respective purchasers, and are to be left by them at least days previous to the said 2-xt, at the office aforesaid, for execution by the vendor. VI. THAT the purchasers, on payment of the remainder of Reversions, the purchase money agreeably to the third condition, shall be annuities, titled to all advantages on the reversions and policies from &c. the hour of sale, and to the current half year's dividends, or the interest on annuities, life interests, mortgages, &c.: and all premiams on policies falling due or becoming payable between the day of sale and the completion of the purchase, are to be paid by the respective purchasers thereof.

VII. THAT the title to lot V of A. B., late of

policies,

mortgages,

shall commence with the Title to be widow, under which the legacy men- reversionary

deduced to legacy.

INTERESTS,

OF REVER- tioned in the particulars is derived, and by the trustees of SIONARY whose will the same was paid into the Court of Chancery under POLICIES, the Trustees' Relief Act; but the vendor shall not be required ANNUITIES, to produce the probate of such will or any residuary or other accounts, or to prove that the reversionary interest forming the subject matter of lot has not been otherwise encumbered than as in the particulars appears.

&c.

VIII. THAT each purchaser shall be entitled, at his own expense, to examine his abstract with such deeds and other documents as are in the vendor's possession or power without suit; but the vendor shall not be bound to produce or procure the production of any deeds, wills, or other documents whatsoever not in his possession or power without suit, either for the examination or verification of the abstract or otherwise, nor to procure attested or other copies of, or extracts from, or a covenant for the production of such deeds or other documents, and the nonproduction of any such documents as aforesaid as are not in the vendor's possession or power without suit, shall not be deemed an objection to the title.

IX. THAT the production of all deeds, chancery proceedings and documents not in the actual possession of the vendor, and all attested and other copies of the deeds, chancery proceedings or other documents required by any purchaser, and all official and other copies of, or extracts from, any registers, deeds, wills, chancery proceedings or other documents, and all parish and other certificates, and all declarations, evidence and information whatsoever, whether required for verifying the abstract or otherwise, not in the possession of the vendor, shall be respectively obtained at the expense of the purchaser requiring the same; and the vendor shall not be required to give any evidence or information relative to any deeds, evidence, writings or documents not in his own possession, nor to identify or otherwise prove by evidence not in his possession, that the sum of stock,—the reversion to one third part of which forms lot of the particulars,-is the same as that given by the will of the said A. B. deceased; and the vendors are not to be required to produce evidence in support of any statements on which the respective policies may be respectively granted.

OF REVER

SIONARY

INTERESTS,

POLICIES,

&c.

Error in par

compensa

tion.

X. THAT if any mistake or omission shall be discovered in the description of the property, or any error whatever shall appear in the particulars, such mistake, omission or error shall not vitiate or annul the sale, but a compensation or equivalent ANNUITIES, shall be given or taken, as the case may require, to be settled by two referees or their umpire, each party, within ten days ticulars, and after the discovery of the error and notice thereof being given to the other party, to appoint one referee by writing; and in case either party shall neglect or refuse to nominate a referee within the time appointed, the referee of the other party alone may make a final decision; and if two referees are appointed, they shall nominate an umpire before they enter upon business, and the decision of such referees or umpire, as the case may be, shall be final.

resell in case

ser's default.

XI. THAT if any purchaser shall fail to comply with these Vendor may conditions, his or her deposit money shall be actually forfeited of purchato the vendor, who shall be at full liberty to proceed to another sale, either by public auction or private contract, with or without notice to the purchaser at this sale, and the deficiency (if any) occasioned by such second sale, together with all charges attending the same, shall, immediately after such sale, be made good by the defaulter at this present sale; and in case of nonpayment of the same, the whole thereof shall be recoverable by the vendor as and for liquidated damages; and it shall not be necessary for the vendor previously to tender an assignment to the purchaser or purchasers respectively.

TITY AND QUANTITY.

No. VI.

CONDITIONS as to IDENTITY and QUANTITY of PARCELS.

I. THAT the several lots shall be taken at the quantity mentioned in the particulars, whether more or less, without any equivalent or compensation on either side.

II. THAT the quantities of the lands comprised in the several lots, having been taken from a recent survey, shall be considered and taken to be correct, without any equivalent, or compensation, or claim thereto on either side, and no purchaser shall require, or be entitled to require, any further or other evidence of the identity of any lot, or any part thereof, than the statutory declaration of some person acquainted with the property during the last twenty years.

III. THAT the vendors shall not be required to identify or connect any of the lands comprised in the particulars, with the general or other descriptions contained in any of the deeds or other documents of title, nor to account for the quantity or abuttals of any lot, or part of a lot, varying from the quantity or abuttals stated in any such deeds or documents.

IV. THAT in consequence of various alterations which have been made by removal of fences, laying various fields together, by inclosures, and other circumstances, the property is now, in many instances, described by names and quantities differing from those by which the same is described in the ancient documents of title, and the vendor shall not be required to identify the property with the ancient descriptions as contained in such documents.

V. THAT the descriptions contained in the title deeds and other documents abstracted shall be taken to comprise the respective lots, and no evidence of identity shall be required beyond such as is afforded by the descriptions in the deeds, and the vendors shall not be required to explain or reconcile any apparent differences or discrepancies in the descriptions contained in the abstracts. The several lots are sold subject to the estates and interests of tenants, whether by lease or otherwise.