PREC. LVIII. stituted as time afsd & notwg any actual or constructive waiver of any prevs cause or rt of re-entry, enter upon the sd premes hby assured or any pt thof in the name of the whole, & thrupon the same premes shl remain to the use of & be vested in the mtgees, their hrs & assns, in all respts as if these psnts had not been made or exted: Acknmt by mtgees to pchase as to munimts retained, p. 418: AND IT IS HBY DECLD betn the Rentvendor & the mtgees, that the sd rent-chge of £ hinbfe charge sublimd to the mtgees, is so limd to the intent that the same shl security. be substituted for the sd premes hby assured as a secy to the mtgees, their exs, ads & assns, for the ppal moys & intt secd by the sd indre of mtge, & shl be subjt to the like equity of redmon & the like power of sale, & other powers & provons for securg the paymt of the sd ppal moys & intt, as such premes were subjt to immedly bfe the exon of these psnts, with such modificons as the case may require: AND IT IS HBY Receipt of FURTHER AGRD, that until notice to the contrary from the be suffimtgees, their exs, ads, or assns, to the pchaser, his hrs or cient. assns, the rect of the vendor, his hrs & assns, for the sd rentchge hby limd, shl be a suffit dischge to the pson or psons paying the same. IN WITS, &c. (c). vendor to LIX. CONVEYANCE of several PERPETUAL RENT-CHARGES PREC. LIX. a PLOT of ground let on a BUILDING LEASE. CONCISE nesseth. PARTIES, A., vendor 1; B., pchaser, 2. WITNETH, &c., Witconson, "for the pchase, subjt as hinafter appears, of the fee simple of the yrly rent-chges & plot of land hby grted," (the rect, &c.,) the sd A., as benef owner, doth hby grt unto the sd B., ALL THOSE sevl perpetual yrly rent-chges, amtg Conveyance togr to the sum of £, of wch resply, & of the respive charges. lands & ppty out of wch the same resply issue, the parlars (c) It would be desirable to endorse notice of this deed on the mortgage deed if retained by the mortgagee. of rent PREC. LIX. are stated in the first pt of the schdle hto, & wch lands are resply delineated in the plan hrunto annexed, & are in such plan resply edged red, & each of wch is marked with the amt of the rent-chge to wch the same is subjt, AND ALL future paymts of the sd respive rent-chges, AND ALL powers & remedies for recovery of the sd rent-chges & the benefit of all covts, condons, & provons contd in the respive indres mentd in the first pt of the sd schdle hto, by wch the sd And land. rent-chges were resply created (a): AND ALSO all that plot of freehd land, situate, &c., also delineated in the sd plan, & thrin edged blue, & wch is let on lease for the term of yrs & at the yrly rent, the parlars whof are stated in the second pt of the sd schdle hto: To HOLD all the premes, hby grted UNTO & TO THE USE of the sd B., his hrs & assns, SUBJT as to Subject to over-riding the rent-chge of £mentd in the schdle hto to the paymt. thereout henceforth of the yrly sum of £10, being a proportionate but unapportioned pt of a yrly rent-chge of £25, wch by an indre, &c., was made issuing & payable out of a plot of land includg the sd land out of wch the sd rent-chge of £ issues, BUT WITH THE BENEFIT of all powers, remedies & covts existg as an indemnity agst paymt of an undue proportion of the sd rent-chge of £25, or of any expses or Habendum. rentcharge. of rentcharge. (a) The following is a form of description of a single rent-charge in the parcels where there are no recitals: Description ALL THAT perpetual yrly rent-chge of £, issuing & payable out of ALL THAT pce of ground, &c., situate, &c., & contg, &c., & bounded, &c., & the messe, &c., thron erected, wch sd pce of ground, messe, & premes, were by an indre, &c., conveyed unto the sd X., his hrs & assns, reservg the sd perpetual yrly rent-chge of £- thereout unto the sd Y., his hrs & assns, & wch rent-chge was made payable qtly, free from all dedons except the ppty-tax, on the four usual qtr-days, with powers, covts, & provons for securg the same, & wch sd rent-chge has by virtue of divers mesne assurces & acts in the law, & ultimately by an indre dated, &c., & made, &c., become & is now vested in the sd A. as absolute owner thof in fee simple, AND ALL future paymts of the sd rent-chge, TOGR WITH the full benefit of all powers, remedies, & covts subsistg for securg & enforcg paymt of the sd rent-chge." lease. damages on acct thof, AND SUBJT as to the sd plot of land PREC. LIX. hby grted to the residue now unexpired of the sd lease mentd And to in the second pt of the schdle hto: Covt by B. to pay the yrly building sum of £10, to "the pson or psons for the time being entled to rece the same," & to indemnify A. thfrom, see p. 545, note. IN WITS, &c. (b). CONVEYANCE under the LANDS CLAUSES CONSOLIDATION PREC. LX. PARTIES, A., tenant for life (hinafter called the vendor), 1; (b) Notice should be given to the persons by whom the rent-charges are payable. (c) The sale and conveyance should, when possible, be made by the tenant PREC. 1.X. 3]; The Recitals. That the lands are Variations for sale for a rentcharge. Rly Co incorpd by the ⌘༄ Rly Act, 18(hinafter called the Co), 3 [4]. Recite lease, p. 357, comprisg, "with other hds, the hds hby assned," statg peels shortly; Devolon of leasehds to K., p. 359; Will of K., devisg "the hds hby grted with other hds [by the description of, &c.]" to the use of A. for life, & bequeathg the leasehds to B. & C. upon trusts correspondg with uses of freehds, & apptg B. & C. exs: Death, probate, & seisin of testor, pp. 365 & 359: Death of C. AND WHAS the hds hby grted & assned resply are for life under the Settled Land Acts (see p. 326, note, and Precedent xviii., p. 467, and the notes thereto); but recourse to the powers of the L. C. C. Act, ss. 7, 9, may still occasionally be necessary; and where the sale is for a rent-charge the powers of the former Act would not be available, if the case is not within the S. L. A. 1882, s. 10. If the sale is in consideration of a rent-charge (as to which see the L. C. C. Act, 1845, ss. 10, 11, and the Amendment Act of 1860 (23 & 24 Vict. c. 106, s. 2); Eyton v. Denbigh, &c., Ry. Co., 6 Eq. 14, 488; 7 Eq. 439; Re Gerard and Beecham's Contract, [1894] 3 Ch. 295), the recital of the contract for purchase will be, "In conson of a yrly rent-chge of £ payable half-yrly as hinafter mentd, the amt of wch rent-chge has been determined by two able practical surveyors, psuant to the provons of the statutes in that behalf, & wch rent-chge is to include compenson, &c., as in the text;" and the conveyance will be, "In conson of the rent-chge hinafter limd & of the covts by the Co hinafter contd & in exercise of all statutory or other powers enablg the vendor in this behalf: habendum "UNTO & to the use of the Co & their assns for ever, they the Co or their assns yieldg & paying henceforth unto the vendor or his assns or other the pson or psons who but for the assurce hby made wd hrafter for the time being be entled to the rect of the rents & profits o the sd hds hby assured one clear yrly rent-chge of £ payable half-ylry on the day of & the of free from all taxes & dedons, except ppty-tax, the first half-yrly paymt thof to be made on the day day of next, & the sd rent-chge to be a first chge on the tolls & rates authorised by or payable under the special Acts of the Co." Add a covenant by the Company, "that the Co will at all times hrafter duly pay the sd rent-chge hinbfe limd to the vendor or his assns or the pson or psons afsd at the times & in the mner at & in wch the same is hinbfe made payable witht any dedon except as afsd." for sale. required by the Co for the pposes of their rly & undertakg PREC. LX. authorised by the Act, 18-, & the subseqt special required acts of parliamt relatg to the Co, or some of them, & the for the railway. Co are under those acts & the genl acts incorpd thwith, or some of them, authorised to take & use the sd hds for the pposes afsd: AND WHAS by virtue of the powers conferred Agreement on them resply by the sd acts, or some of them, the Co have agrd with the vendor for the pchase of the hds hby grted for an este in fee simple in posson, & the hds hby assned for the residue of the sd term of yrs grted by the sd indre of lease subjt to the annl rent of £, being an apportioned pt of the sd rent of £, reserved by the sd lease, & subjt to the covts by the lessee, & condons in the sd lease contd so far as they relate to the hds hby assned, at the price of £, being the sum determined by two able practical surveyors nominated one by the vendor & one by the Co accdg to the provons of the Lands Clauses Consolidon Act, 1845, wch sum it was agrd shd include [the (a) value of all mines & minls under the hds hby grted, & also] compenson for severce of the sd hds hby grted & assned resply from other ppty of the vendor, or orwise injuriously affectg such other ppty in exercise of the powers given by the sd acts or any of them, [& for damage of every description, whether for removal, loss of trade (b), goodwill, inconvenice, or orwise, & shd also be in full satisfon for all accommodon & other works & things wch might orwise be required to be made or done under the sd acts or any of them for the benefit or accommodon of the adjoing ppty of the vendor, save & except the accommodon works & things specified in (a) The Company are not entitled to any mines of coal, ironstone, slate, or other minerals, unless the same are expressly purchased by them; see the references in p. 327, note (c); see also as to the vendor's rights of working, if the Company do not purchase the minerals, Pountney v. Clayton, 11 Q. B. D. 820; Midland Ry. v. Robinson, 15 Ap. Cas. 19. A tenant for life unimpeachable for waste is not entitled to any part of the compensation money paid by the Company in respect of the minerals, whether the sale is made under the L. C. C. Act, or the ordinary express power of sale, or under the Settled Land Acts: Re Robinson, [1891] 3 Ch. 129, 134. (b) Compensation for loss of trade is part of the consideration for the sale for the purpose of stamp duty: Commissioners of Inland Revenue v. Glasgow, &c., Ry. Co., 12 App. Ca. 315. |