day of, and to the PRECEDENT EQUITY OF REDEMPTION IN FEE. 5. Witnesseth: for the purpose hereinafter mentioned and in the manner hereinafter appearing, and that these presents should contain the covenants hereinafter contained: NOW THIS INDENTURE WITNESSETH, that, in pursuance of the said agreement, and in consideration, &c. [payment of consideration and receipt, supra, p. 273], He consideration ; the said A. B. doth hereby grant, and she the said C. B., -grant; with the concurrence of the said A. B., and for the purpose of extinguishing her right of dower, doth hereby release and dispose of, unto the said E. F., his heirs and assigns [Parcels, supra, pp. 207, 210, 213, 215, or 219--parcels. General Words, supra, p. 208]; TO HAVE AND TO HOLD 6. Habendum: all the said premises hereinbefore expressed to be hereby granted UNTO the said E. F., his heirs and assigns, To -in fee, subject to mortgage. THE USE of the said E. F., his heirs and assigns, Subject to the said indenture of the payment of the said principal moneys and interest owing thereupon as aforesaid (c); AND THE SAID A. B. doth hereby for himself, his heirs, executors, and administrators, covenant with the said E. F., his heirs and assigns, that, notwithstanding anything by him the said A. B. or by the said C. B. done, omitted, or knowingly suffered, they the said A. B. and C. B. now have power to grant and dispose of the said premises hereinbefore expressed to be hereby granted to the use of the said E. F., his heirs and assigns, subject as and in manner aforesaid; AND THAT the same premises shall at all times remain and be to the use of the said E. F., his heirs and assigns, and be quietly entered into and upon, and held and enjoyed, and the rents and profits thereof received by the said E. F., his heirs and assigns, accordingly, without any interruption or disturbance by the said A. B. and C. B., or either of them, or any person (other than the said [mortgagee], his heirs, executors, administrators, and assigns, in respect 7. Covenants mortgage; for quiet enjoyment, sub ject, &c. ; (c) For limitations to uses to bar dower, see supra, p. 211; if they are used, the reference to the mortgage debt should immediately precede the words "To such uses." PRECEDENT EQUITY OF REDEMPTION IN FEE. -free from incumbrances except mortgage; surance. of the said mortgage of the day of), claiming through or in trust for them or any of them; AND THAT free and discharged from, or otherwise by him the said A.B., his heirs, executors, or administrators, sufficiently indemnified against all estates, incumbrances, claims, and demands other than the said mortgage of the day of created, occasioned, or made by the said A. B. and C. B., or either of them, or any person (other than the said [mortgagee], his heirs, executors, administrators, and assigns, in respect of the said mortgage) claiming through -for further as or in trust for them or either of them; AND FURTHER, that the said A. B. and C. B., and every person having or claiming any estate, right, title, or interest in or to the said premises, or any of them, through or in trust for them or either of them, will at all times, at the cost of the said E. F., his heirs or assigns, execute and do every such lawful assurance and thing for the further or more perfectly assuring all or any of the said premises to the use of the said E. F., his heirs and assigns, subject as and in manner aforesaid, as by the said E. F., his heirs or assigns, shall be reasonably required: AND THE SAID purchaser to pay E. F. doth hereby for himself, his heirs, executors, and administrators, covenant with the said A. B., his heirs, executors, and administrators (d), that he the said E. F., his heirs, executors, administrators, or assigns will pay to the said [mortgagee], his executors, administrators, or 8. Covenant by mortgage debt and indemnify vendor. Covenant by purchaser in conveyance of equity of redemption. (d) Independently of any contract, a Court of Equity will compel the purchaser of an equity of redemption to indemnify the vendor against the mortgage debt: Waring v. Ward, 7 Ves. 337; and it is conceived that the purchaser may be required to covenant to do so. For it may be laid down as a general rule, that, whenever the vendor is subject to personal liabilities, either in respect of the estate or for the performance of which the estate stands security, the purchaser taking the estate must covenant to indemnify him against them: Dart, 359. If the equity of redemption be purchased by the mortgagee, the conveyance will probably be taken by indorsement on the mortgage, and it will contain the ordinary qualified covenants for title, which will supersede the unqualified covenants in the mortgage deed. assigns, the said principal sum of £, and all interest due and which shall accrue due for the same, and will at all times keep the said A. B., his heirs, executors, and administrators indemnified against the payment thereof or any part thereof, against all proceedings, costs, damages, claims, demands, and liability for non-payment thereof respectively. IN WITNESS, &c. (ADD a Schedule.) PRECEDENT LV. EQUITY OF REDEMPTION IN FEE. LVI. LVI. CONVEYANCE of FREEHOLDS by a SECOND MORTGAGEE PRECEDENT under a POWER of SALE. The FIRST MORTGAGEES join in the Conveyance (a), and their Debt is secured by the PURCHASER'S COVENANT, and by a NEW PROVISO for REDEMPTION, and POWER of SALE. BY SECOND MORTGAGEE, SUBJECT TO A MORTGAGE. THIS INDENTURE, made, &c., between A. B., of, &c., 1. Parties. and C. D., of, &c. [first mortgagees], of the first part; E. F., of, &c. [second mortgagee], of the second part; and (a) The first mortgagees, by joining in the conveyance, obtain the advantage of the purchaser's covenants for payment of their debt, and the purchaser obtains an admission of the amount of their debt, and a postponement of the exercise of their power of sale. By taking the conveyance in the form in the text, instead of taking a simple conveyance in fee from the first and second mortgagees, and making a new mortgage to the first mortgagees by a separate deed, see supra, p. 353, n. (a), the expense of a fresh mortgage stamp is saved. Sometimes the first mortgagees refuse to join in the conveyance, lest they should let in mesne incumbrances on the estate; in such cases the transaction is merely the conveyance of an equity of redemption. Should the mortgagor be a party to the sale, he would be entitled to a covenant from the purchaser to indemnify him against the payment of the mortgage debt. VOL. II. EE PRECEDENT BY SECOND MORTGAGEE, SUBJECT TO A MORTGAGE. 2. Recital of mortgages and contract for sale; 3.-first mortgage not to be paid off, but mortgagees to join. G. H., of, &c. [ purchaser], of the third part: [Recites mortgage, 5th May, 1858, to A. B. and C. D.-Second Mortgage, 12th July, 1860, to E. F., with power of sale— State of the two Mortgage Debts-Contract for sale by E. F. to G. H., supra, 270]: AND WHEREAS, upon the treaty for the said sale, it was agreed that the said sum of £owing to the said A. B. and C. D.. as aforesaid should not be paid off, but should be retained by the said G. H. out of the said purchase-money of £, and that the said A. B. and C. D. should join in these presents, and that the payment to them of the said sum of £—— with interest, as hereinafter mentioned, should be secured 4. Witnesseth in manner hereinafter appearing: NOW THIS INDENTURE WITNESSETH, that, in pursuance of the said -consideration, agreements, and in consideration of the said sum of owing to the said A. B. and C. D. as aforesaid, and of the covenant on the part of the said G. H. hereinafter contained for payment thereof with interest as hereinafter mentioned, and in consideration of the sum of £ upon the execution of these presents paid to the said E. F. by the said G. H. (the retainer and receipt in manner aforesaid of which said sums of £- and £- making together the said purchase-money of £ -, the said E. F. doth hereby acknowledge, They the said A. B. and C. D., at the request and by the direction of the said E. F., do, and each of them doth hereby grant and release, and he the said E. F. doth hereby grant, release, and quit claim, Unto the said G. H. and his heirs [Parcels, supra, pp. 207, 210, 213, 215, or 219-General Words, supra, p. 208]: To HAVE AND TO HOLD all the said premises hereinbefore expressed to be hereby granted UNTO the said G. H. and his heirs, TO THE USE of the said A. B. and C. D., their heirs and assigns, discharged from all principal moneys and interest intended to be secured by, and from all right or equity of redemption, and claims and demands under, the said indenture of the 12th day of July, 1860, and from all right or equity of redemption under the said indenture of the 5th day of May, 1858, but subject to the proviso herein -retainer and receipt, -grant and release, ---parcels. 5. Habendum, to use of first mortgagees in fee. after contained, that is to say, PROVIDED ALWAYS, and it is hereby agreed and declared, that if the said G. H., his heirs, executors, administrators, or assigns, shall on the day of next [six calendar months] pay to PRECEDENT LVI. BY SECOND MORTGAGEE, SUBJECT TO A MORTGAGE. 6. Proviso for redemption. the said A. B. and C. D., or the survivor of them, or the executors or administrators of such survivor, or their or his assigns, the said sum of £- [the mortgage debt], with interest for the same in the meantime at the rate of per cent. per annum, then the said A. B. and C. D., or the survivor of them, or the executors or administrators of such survivor, or their or his assigns, shall at any time thereafter, upon the request and at the cost of the said G. H., his heirs, executors, administrators, or assigns, convey and assure the said premises hereinbefore expressed to be hereby granted to the use of the said G. H., his heirs and assigns, or as he or they shall direct: [Covenant by A. B., C. D., and E. F., with G. H. and his heirs, that they have not incumbered, p. 269; and that E. F. can exercise his power of sale, see supra, p. 235]: AND THIS INDENTURE ALSO WIT- 7. Witnesseth secondly: NESSETH, that, in pursuance of the said agreement in this behalf, and in consideration of the premises and of the proviso for redemption hereinbefore contained, He the said G. H. doth hereby, for himself, his heirs, executors, and administrators, covenant with the said A. B. and C. D., their executors and administrators, that he the said G. H., his heirs, executors, or administrators, will, on the day of next, pay to the said A. B. and C. D. or the survivor of them, or the executors or administrators of such survivor, or their or his assigns, the sum of [the principal], with interest for the same in the mean time at the rate of £— per cent. per annum; AND FURTHER, that if the said sum of £thereof, shall remain unpaid after the said covenants for payment of principal or any part and interest. day of he the said G. H., his heirs, executors, or administrators, will, so long as the same sum or any part thereof shall remain unpaid, pay [Covenant for payment of interest, ante, Vol. I., p. 209—Proviso for quiet enjoyment by G. H. till default, Id., 251-Power of sale, Id., 220 |