OF TESTA- VARIOUS PROVISIONS. Bequest of personal estate; No. CXIII. DEVISE and BEQUEST of REAL and PERSONAL ESTATE; BEQUEST of PERSONAL ESTATE to TRUSTEES to pag Debts, &c., and subject thereto, to Son; but if he should die under twenty-one, then to Sister absolutely; DEVISE of REAL ESTATE to TRUSTEES, subject to Mortgages and other Charges thereon, upon trust to manage and lease same until the Son should attain twenty-one, and subject thereto, to Son absolutely, but if he should die a Minor, then to Nephews equally in Fee; POWERS of MAINTENANCE and ACCUMULATION of SURPLUS; POWER to apply SURPLUS INCOME OF ACCUMULATIONS in Payment of Mortgages and other Debts; POWER of ADVANCEMENT; POWER to concur in Transfer of Mortgages, or to sell or mortgage for Payment for Mortgages; GENERAL POWER of Sale or Mortgage for Payment of Debts; PERSONAL ESTATE to be primary Fund for Payment of Debts; RECEIPTS of TRUSTEES; DEVISE of Trust and Mortgaged ESTATES; APPOINTMENT of EXECUTORS and GUARDIANS; POWERS of changing TRUSTEES and INDEMNITY CLAUSES. I, [testator], of &c., DO HEREBY revoke all wills, codicils, and other testamentary dispositions heretofore made by me, and do declare this to be my last will and testament. I GIVE AND BEQUEATH all my personal estate and effects whatsoever and wheresoever (except such parts thereof as at my decease may be vested in me upon any trusts, or by way of mortgage), unto A. B., of &c., and C. D., of &c., [trustees], their executors, administrators and assigns, UPON TRUST to sell such part of my personal estate as shall consist of leasehold lands or tenements, together or in parcels, and either by public auction or private contract, with power to insert any special or other stipulations in any contract or conditions of sale as to title or otherwise, and PERTY WITH VARIOUS SPECIAL PROVISIONS. &c.; and subject son; die under absolutely. to call in and convert into money the remainder of my personal or TESTAestate: AND I DECLARE that my said trustees or trustee shall, TOR'S PROby and out of the monies to arise from such sale, calling in and conversion into money, and the money of which I shall be possessed at my death, so far as the same may be sufficient for that purpose, pay my mortgage and other debts and my funeral and to pay debts, testamentary expenses, and the residue of the said monies (if) any) shall be in trust for my son E. F., for his absolute benefit; thereto, for BUT IN CASE my said son shall die under the age of twenty-one if he should years, then I declare that the said residuary monies shall be in twenty one, trust for my sister S. H., for her absolute benefit, for her sole then to sister and separate use independently and exclusively of her present or any future husband, and that her receipt alone notwithstanding her coverture shall be a sufficient discharge for the same respectively. AND I GIVE AND DEVISE all my messuages, Devise of cottages, buildings, farms, lands, tenements and hereditaments situate at —, in the county of, and all other my real estate whatsoever and wheresoever, except such parts thereof as at my decease may be vested in me upon any trusts, or by way of mortgage (subject to the several mortgage debts at my decease affecting the same respectively, and the interest thereof respectively, and also subject and without prejudice to a certain annuity of £40 to during her life, and a certain annuity of £30 to during her life, with which two annuities my said real estate in the said county of is charged at the date of this my will), unto and to the use of the said A. B. and real estate. charges upon trust and lease son attains C. D., their heirs and assigns, UPON TRUST that they the said To trustees trustees, and the survivor of them, and the heirs of such (subject to survivor, their or his assigns, shall receive the rents, issues and thereon), profits of and generally manage the said real estates, and every to manage part thereof, as they or he may think proper, and shall have same until power to demise or let the said real estates, or any part or twenty-one; parts thereof, either from year to year, or for any term or number of years, either upon repairing, building or husbandry leases, and generally upon such terms as my said trustees or trustee for the time being shall think proper (yet so that no demise or lease shall be made of any copyhold or customary hereditaments and premises contrary to the custom of the manor or manors of which the same respectively shall be holden), with power to PERTY WITH VARIOUS PROVISIONS. to son in fee; if son dies under to nephews. keep down interest on mortgages minority. OF TESTA accept surrenders from and make allowances to and arrangeTOR'S PRO- ments with tenants and others, and with all other powers expedient or desirable for the due management of my said real estates respectively, until my said son E. F. shall attain the age of twenty-one years. AND SUBJECT AS AFORESAID, I GIVE AND DEVISE the said messuages, cottages, buildings, farms, lands, tenements, hereditaments and real estates (subject to the mortgages, incumbrances and charges then existing thereon) unto and to the use of my said son E. F., his heirs and assigns for ever; BUT IF my said son shall die under the age of twenty-one twenty-one years, then I give and devise the said messuages, cottages, buildings, farms, lands, tenements and hereditaments and real estates (subject to the mortgages, incumbrances and charges then existing thereon), unto and to the use of my nephews, L. M. and N. O., their heirs and assigns for ever equally as Direction to tenants in common, and not as joint tenants. AND DURING THE MINORITY of my said son I empower and direct my said during son's trustees or trustee for the time being to apply the rents and profits of my real estates respectively in the first place in and towards payment of all the interest which for the time being shall be due and payable in respect of my said mortgage debts, or such of the said debts as shall for the time being remain due and unsatisfied, in aid of my personal estate; and I empower and accumu- my said trustees or trustee for the time being from time to surplus. time to apply the whole or any part of the rents, profits, interests, dividends, annual produce and other monies which shall come to their or his hands on account of my real and personal estate and effects respectively, and which shall remain after making such payments thereout respectively as aforesaid, for or towards the maintenance, education, or otherwise for the benefit of my said son; and I direct my said trustees or trustee to invest the surplus of such rents, profits, interest, dividends, annual produce and monies in the parliamentary stocks or public funds of Great Britain, or at interest on government or real securities in England or Wales (but not in Ireland), or on security of the bonds or debentures of any public company incorporated by act of Parliament, and having two-thirds at least of its capital paid up, or on mortgage of the share or shares in any such last-mentioned company, with power from time to Power of maintenance lation of PERTY WITH VARIOUS SPECIAL PROVISIONS. apply surplus accumula ment of or other time at their or his discretion to vary the securities for the same OF TESTAfor others of the same or a like nature, and with full power to TOR'S PROresort to the accumulations of any preceding year or years in any succeeding year or years, and to apply the same for the maintenance, education, or otherwise for the benefit of my said son, AND I DECLARE that all such accumulations as aforesaid, or so much thereof as shall not be applied as aforesaid, shall be held upon and for such trusts, intents and purposes, and with and under such powers, provisoes and declarations, as in this my will are declared and contained concerning the fund or property, or respective funds or properties, from which the same shall have respectively proceeded, or as near thereto as circumstances will permit, PROVIDED NEVERTHELESS, that it shall be lawful Power to for my said trustees or trustee, at their or his discretion, from income or time to time or at any time or times, to apply the whole or any tions in paypart or parts of the surplus rents, profits, interest, dividends, mortgages annual produce and other monies, which may not be so applied debts. for the maintenance, education, or otherwise for the benefit of my said son during his minority as aforesaid, and also all or any part or parts of such accumulations on account thereof as aforesaid, in or towards the payment and discharge of the mortgage sums or sum and other principal monies which for the time being shall affect my real estates or any of them, or my other debts generally, or any part or parts of such sum or sums, monies or debts, or of any interest which may accrue due on account thereof respectively, anything hereinbefore contained to the contrary in anywise notwithstanding: AND I EMPOWER Power of admy trustees or trustee at any time or times during the minority of my said son to apply so much as they or he may think proper, not exceeding in the whole one-half part of the portion to which he shall be so for the time being entitled as aforesaid in the several trust monies, stocks, funds and securities, for or towards his advancement or preferment: AND I AUTHORIZE AND EM- Power to POWER my said trustees or trustee, at any time or times, or transfer of from time to time during the minority of my said son, to &c., or to sell give or join in any transfer of any mortgage or mortgages, for payment or other charge or incumbrance, upon all or any part of said real estates, or to give further security for, or to pay off, all or any part of such mortgage or mortgages or other incumbrance, and my vancement. concur in mortgages, or mortgage of mortgages. TOR'S PRO PERTY WITH SPECIAL PROVISIONS. General power of gage for pay OF TESTA for that purpose to adjust and settle any accounts with any incumbrancer or incumbrancers, and, if my said trustees or trustee VARIOUS shall think fit, to raise any further sum or sums in order to discharge any such mortgage, charge or incumbrance, or mortgages, charges or incumbrances, and the interest thereon respectively, together with the costs of procuring and raising the same, either by mortgage or by absolute sale, or other disposition of all or any part of my said real estates, or by, with, or out of the rents, issues and profits of the said real estates and premises, or any of them, or by any other reasonable ways or means, and to apply the monies so to be raised in discharge of such mortgages, charges or incumbrances accordingly, and upon any such transfer or mortgage, if it should be deemed expedient, to give to the transferee or transferees, mortgagee or mortgagees, any power of sale, or any other usual or reasonable power or powers, and by their or his receipts in writing to discharge all persons paying any trust monies from responsibility for the application thereof: AND I ALSO EMPOWER my sale or mort- trustees or trustee for the time being by mortgaging, selling, ment of other or otherwise disposing of my said real estates and premises, or any of them, or by, with and out of the rents, issues and profits of the said real estates and premises, or any of them, or by bringing actions against the tenants or occupiers of the same premises, or any of them, for the rents then in arrear, or by all or any of the aforesaid ways or means, or by any other reasonable ways or means, to levy and raise any sum and sums of money which my said trustees or trustee may think fit to levy and raise for the payment of my funeral and testamentary expenses and my other and remaining debts, and to pay and apply the monies to be levied and raised by the ways and means aforesaid in or towards satisfaction and discharge of my funeral Personal and testamentary expenses and debts accordingly: PROVIDED nevertheless, ALWAYS, that as between the person or persons entitled to my for payment personal estate, and the person or persons entitled to my real estate, my said personal estate is to be considered as the primary fund, and my real estate the secondary fund, for the payment of my funeral and testamentary expenses, and my mortgage and other debts: AND I DECLARE that the receipt or receipts in writing of my trustees or trustee for the time debts. estate to be primary fund of debts. Receipts of trustees to be discharges. |