for believing that the Company has lost a portion of its capital the Company shall not be required to take stock otherwise than at the time of their annual stocktaking and the Company will also furnish to the trustees a yearly trading account and balance sheet before declaring a dividend for such year. taxes and 25. The Company will during the continuance of this security keep all Company to repair. the houses buildings and erections fixtures fixed plant and machinery in or upon the mortgaged hereditaments or any other hereditaments for the time being subject to this security in a good and perfect state of repair and condition and will not pull down or remove any of such houses buildings erections fixtures plant or machinery without the previous consent in writing of the trustees, And further will permit the trustees or their surveyor or other person or persons appointed in writing by the trustees for that purpose from time to time to enter upon and view the said hereditaments and the plant machinery fixtures and fittings thereon, and will pay the reasonable and proper charges of such surveyor or other person or persons as last aforesaid, and will also pay all rents rates taxes and assessments payable in respect of the said Pay rents mortgaged hereditaments or any part thereof, And will insure and keep outgoings. insured against loss or damage by fire [or enemy aircraft] the said buildings And insure. erections plant machinery fixtures and fittings in the names of the trustees in the Insurance Company or some other insurance office to be approved of in writing by the trustees in a sum not less than £said buildings and erections and a sum not less than £said plant machinery fixtures and fittings, And will pay other sums of money payable for such insurance within first day on which they respectively become payable and will on demand produce and deliver to the trustees the receipt for such premiums and moneys, And will apply all moneys received under or by virtue of such insurance in or towards making good any loss or damage to the premises or any of them, And if default shall be made in keeping the said premises or any of them in repair or insured as aforesaid or in payment of the premiums or moneys payable for such insurance or in producing and delivering any such receipts as aforesaid the trustees may at their discretion repair and insure the said premises or any part thereof and such repair or insurance shall not be deemed to constitute any entry into possession by them of the premises so repaired or insured, and the Company will on demand repay to the trustees all sums of money expended by them for the above purposes or any of them with interest at the rate of per cent. per annum from the time of the same respectively VOL. 4. in respect of the in respect of the the premiums and days after the 6 having been expended, and until repayment thereof such moneys shall be a charge upon the mortgaged premises. to trustees. 26. In addition to the indemnity given to trustees by law the Company Indemnity will at all times hereafter keep the trustees indemnified against all actions proceedings costs charges expenses claims and demands whatsoever in respect of the exercise of the powers or execution of the trusts of these presents or any matter or thing done or omitted by them without their own wilful default in relation to the premises. tion of 27. The Company shall during the continuance of this security pay to Remunerathe trustees remuneration for their services as trustees hereunder at the rate trustees. of £ per annum to be equally divided between them. X may retain 28. The trustees shall be at liberty to retain or pay themselves out of Trustees any moneys in their hands under the trusts hereof all such costs charges disburseexpenses claims and demands and remuneration as aforesaid and shall have ments. a first lien for the amount thereof on the mortgaged premises. 29. The trustees may from time to time waive any breach by the Company of any of the covenants or stipulations herein contained on such terms as the trustees may think proper or expedient. 30. The trustees may delegate any of the trusts powers and discretions hereby vested in them to any person or persons subject to such conditions and regulations (including power to sub-delegate) as they the trustees may think fit and shall not be responsible for any misconduct on the part of any such delegate or sub-delegate. Power to to waive trustees breaches of covenant. Power to delegate trusts, &c. receiver. 31. At any time after the security hereby constituted becomes enforce- Power to able the trustees may appoint any person (whether an officer or employé of appoint the Company or not) as receiver of the mortgaged premises or any part thereof and may invest such receiver with all or any of the powers or authorities hereby vested in them and may fix the remuneration of any such receiver and may remove him at any time and all moneys received by any such receiver after providing for the matters mentioned in the first three paragraphs of clause 24 of the Conveyancing Act, 1881, shall be paid over to the trustees. to be held by them upon the trusts hereby declared of the moneys to arise from the execution of the primary trust for conversion and the provisions of the said Act shall be varied accordingly. not bound 32. Until the security hereby constituted becomes enforceable and the Trustees trustees have determined to enforce the same they shall not be bound to see to see to to the observance or performance by the Company of any of its obligations observance X fue the Loche d'hull hd 1914 1 6* |