HOLDS AND A POLICY survivor of to be suffi 18-, anything hereinbefore contained to the contrary in any- oF LEASEwise notwithstanding: PROVIDED always and it is hereby agreed and declared that the said sum of £- so advanced by them the said C. D. and E. F. belonged to them jointly, PERSONS, and that in case either of them the said C. D. and E. F. shall Receipts of die before full payment of the said sum of £- and the mortgagees interest thereof, the receipt or receipts in writing for the said cient. sum of £- and the interest thereof, or any part thereof respectively, and for any other monies which shall become payable under or by virtue of these presents, and also the acts and assurances in respect of the said hereditaments, policy, monies and premises hereby respectively demised and assigned, or expressed and intended so to be, or any of them, or any part or parts thereof respectively, of the survivor of them the said C. D. and E. F., or of the executors or administrators of such survivor, their or his assigns, shall be both at law and in equity sufficient, although the executors or administrators of such one of them the said C. D. and E. F. as shall have so for the time being died, shall not join therein: PROVIDED NEVERTHELESS Money ultithat the total amount of the principal money to be ulti- recoverable. mately recoverable under or by virtue of these presents, shall not exceed the sum of £- (a). PROVIDED ALWAYS that Mortgages the said C. D. and E. F., their executors, administrators or obliged to assigns, shall not incur any responsibility to the said A. B., ment of his executors or administrators, by reason of the neglect or monies. delay of the said C. D. and E. F., their executors, administrators or assigns, or any of them, to call for or enforce payment of the monies which shall become payable by virtue of the policy of assurance hereinbefore assigned, or any policy to be effected in lieu thereof as aforesaid, or any part thereof, any rule of law or equity to the contrary notwithstanding (b). IN WITNESS, &c. mately not to be enforce pay. assurance (a) This proviso is not now so important as it used to be, it being Provision of provided by the New Stamp Act that the deed shall be available as a the new security for such an amount only as the ad valorem duty denoted by the stamp thereon will extend to cover. (b) In assigning a policy of assurance, or anything in the nature of a debt, by way of security, it is important to provide that the mortgagee shall not be obliged to enforce payment of the debt. Without Stamp Act as to ad valorem duty. OF REVER- INTEREST AND RENT Parties. Recite settlement by gagor is en titled to reversionary interest in stock. Settlement, of mortgagor No. XLVI. MORTGAGE of a REVERSIONARY INTEREST in STOCK belonging to the MORTGAGOR, and of an ANNUITY and Yearly RENT CHARGE belonging to his WIFE, to secure an EXISTING DEBT and future Advances. day of day of BETWEEN THIS INDENTURE, made the A. B. of &c. [mortgagor], of the first part, C. D. [the wife of the said A. B.], of the second part, and E. F. of &c. [mortgagee], of the third part: WHEREAS, &c. [recite the settlement and the which mort- events under and by means of which A. B. is entitled to the sum of £, £3 per cent. Reduced Annuities expectant upon the death of T. P.]: AND WHEREAS by an indenture bearing date the and made or expressed to be made between G. H., therein described, of the first part, the said A. B. of the second part, and the said C. D. of the third part, (after reciting that the said A. B. was about to intermarry with the said C. D., who was the daughter of the said G. H., and that upon the treaty for the said marriage it had been agreed that the said G. H. should pay to the said C. D. for her separate use, an annuity or yearly sum of £500 for her life), the said G. H., for the considerations therein mentioned, for himself, his heirs, executors and administrators, did covenant with the said C. D., her executors, administrators and assigns, that he the said G. H., his heirs, executors or administrators, should pay unto the said C. D. and her assigns, one annuity or yearly sum of £500 for her separate use, free from the debts, control, or interference of the said A. B., or any husband she might marry during her life, by quarterly payments, on the 25th day of March, the 24th day of June, the 29th day of September, and the 25th day of December in every year, the first payment thereof to be made on such of the said days as should next happen after the solemnization of such marriage: such a provision, he would be clearly responsible to the mortgagor and his representatives for any loss which might be incurred from his neglecting to enforce the security for the payment of the debt. Ex parte Mure, 2 Cox, 73. AND WHEREAS X. Y. duly signed and executed his last will and testament in writing, bearing date the OF REVER- Will under entitled to of £300. will. for mortgage to secure day of and thereby gave and devised all his freehold lands, tenements and hereditaments, situate in the county of -, to the use that the said C. D. and her assigns should receive during her life, for her sole and separate use and benefit, an annual sum which she is or yearly rent charge of £300, to be charged upon and issuing rent charge out of the said premises thereinbefore devised, and to be paid by equal half yearly payments, without any deduction whatsoever; the first half yearly payment to be made at the expiration of six calendar months after the decease of the said testator; and the said will now in recital contains powers of distress and entry for compelling payment of the said annual sum or yearly rent charge, and the said testator appointed L. M. and O. P. executors of his said will: AND WHEREAS the Death of testator, and said testator departed this life without having in any respect probate of altered or revoked his said will, and the same was duly proved by the said executors thereof in the Prerogative Court of the Archbishop of Canterbury: AND WHEREAS the said A. B. is Agreement now indebted to the said E. F. in the sum of £, and they the said A. B. and C. D. have respectively agreed that the existing debt repayment thereof, and of all such further sums as may hereafter be advanced by the said E. F., to or on account of the said A. B., and the interest thereon respectively, shall be secured by a mortgage of the sum of £, £3 per cent. Reduced Annuities, to which he the said A. B. is entitled expectant on the decease of the said T. P., as aforesaid; and also of the said annuity of £500, and the said annual sum or yearly rent charge of £300 to which she the said C. D. is entitled as aforesaid, in manner hereinafter mentioned. NOW First witTHIS INDENTURE WITNESSETH, that in pursuance of the aforesaid agreement, and in consideration of the Considerasum of £- so now due and owing by the said A. B. to the said E. F. as aforesaid, [the receipt whereof &c.], and also in consideration of such further sum and sums of money as shall be advanced to or on account of the said A. B. as hereinafter mentioned, he the said A. B. by these presents Assignment doth assign unto the said E. F., his executors, administrators gagor of and assigns, ALL THAT the said sum of £, £3 per cent. interest in Reduced Annuities, comprised in and settled by the firstly and future advances. nessing part. tion. by mort reversionary stock, OF REVFR INTEREST herein before recited indenture as aforesaid, and the stocks, SIONARY funds, and securities in or upon which the same shall be inIN STOCK Vested, and the dividends, interest and annual produce thereof: AND RENT AND ALL THE ESTATE &c.: TO HAVE AND TO HOLD the said sum of £ Reduced Annuities, stocks, funds, securities CHARGE. nessing part. and grant by and wife, and all and singular other the premises hereby assigned, or intended so to be (subject nevertheless and without prejudice to mortgagee to the estate and interest therein of the said T. P. for his own absolutely. life as aforesaid), unto the said E. F., his executors, administrators and assigns absolutely, subject nevertheless to the Second wit proviso for redemption hereinafter contained. AND THIS INDENTURE ALSO WITNESSETH, that in further pursuance of the said agreement, and in consideration of the premises, she the said C. D. (with the privity of the said A. B., testified by his executing these presents), and the said A. B., so far as relates to his estate and interest, if any, in the said annuity, and the said rent charge and premises hereinafter assigned and granted, or expressed and Assignment intended so to be, Do and each of them doth by these presents assign, grant, and confirm unto the said E. F., his executors, administrators and assigns, ALL THAT the said annuity of £500, so as aforesaid payable to the said C. D. during her life, under or by virtue of the said recited indenture of the day of --, or howsoever otherwise the same may be payable: AND ALSO ALL THAT the said annuity or yearly rent charge of £300 by the said recited will of the said X. Y., deceased, limited to the use of the said C. D. as in the same will is mentioned: AND ALL AND EVERY sums and sum of money now due and henceforth to become due for or in respect of the said annuity and yearly sum or rent charge and premises respectively, or any of them, and all powers, remedies and authorities respectively for securing, recovering and compelling payment thereof respectively: AND ALL THE RIGHT, title, interest, property, claim and demand whatsoever, both at law and in equity, of the said A. B. and C. D., and each of them, of, in, to, out of, or upon the said annuity or yearly sum and rent charge, monies and premises hereby assigned and granted, or expressed and intended so to be, and every of them, and every part thereof: TO HOLD, RECEIVE, TAKE AND ENJOY the said annuity and yearly sum or rent charge, monies and all and of annuity and rent charge. To hold to mortgagee, subject to SIONARY IN STOCK CHARGE. proviso for attorney. singular other the premises lastly hereinbefore assigned and OF REVER- and truly pay or cause to be paid to the said E. F., his with redemption. |