LI.-NOTICE OF ASSIGNMENT OF DEBT (a).

debt due

become due.

I, B of, &c. (assignee) hereby give you C of, &c. (debtor) notice Notice of that A of, &c. (assignor and creditor) has assigned to me a debt or to of £ now owing by you to him for the price of goods sold and delivered by a writing, under his hand of which the enclosed is a copy (b), [or the balance of the contract price consisting of two instalments of £1,000 payable by you on the respective completion of two houses at according to the terms of a certain agreement made &c. by a deed of which the enclosed is a copy (c)]. And I hereby require you to pay to me the said debt on or before the

day of

said instalments as they respectively become due] at

[or the

where the original assignment will if desired be produced and on due payment of the said debt [or of the last of the said two instalments] delivered up to you.

To C of, &c.

Signed and subscribed by me this

day of

B, of, &c.

LII. MORTGAGE OF FREEHOLDS (d).

THIS INDENTURE OF MORTGAGE made, &c. BETWEEN Parties. A of, &c. (mortgagor) of the one part, and B of, &c.

(a) Cf. s. 14 (6), 36 & 37 Vict. c. 66,! ante. pp. 181, 182.

(b) It is of course unnecessary to enclose a copy of the assignment, but it may sometimes be advisable and convenient to do so.

(c) The words in brackets are accommodated to Precedent L.

(d) This, like Precedent XVII. is a simple adoption of the statutory form, ante, p. 435; we do not think, however, that it will on that account be necessarily superfluous.

of agree

ment to

lend.

Covenant

to repay Frincipal and

interest

Convey.

ance

* WHEREAS A is now seised

of the hereditaments hereinafter described for an estate in fee

simple in possession free from
B has agreed to lend to A £

incumbrances AND WHEREAS

interest thereon at the rate of £

in manner hereinafter appearing

#

on having the same with

per annum secured NOW THIS INDEN

TURE (6) WITNESSETH that (receipt) A hereby covenants
to pay to B on the
18 the sum of

£

day of

with interest thereon in the meantime at the rate of

£
per cent. per annum and also as long after that day as
any principal sum remains due under this mortgage to pay to
B interest thereon at the same rate by equal half-yearly pay-

ments on the

day of

and the

day of AND THIS INDENTURE ALSO WIT

subject to NESSETH that for the same consideration A as beneficial proviso for

redemption. owner hereby conveys to B all that, &c. (here describe parcels) To hold to and to the use of B in fee simple subject to the proviso for redemption following-namely that if A or any person claiming under him shall on the

Modifi. cation of statutory powers

day of

and interest thereon at

the rate aforesaid then B or the person or persons claiming under him will at the request and cost of A or the person or persons claiming under him reconvey the premises to A or the person or persons claiming under him PROVIDED ALWAYS* AND IT IS HEREBY AGREED AND

DECLARED * (a) that the power of leasing (b) conferred by law on a mortgagor or mortgagee in possession of land and the several other powers (c) conferred by law on a mortgagee shall as regards these presents be modified in manner following, that is to say (here insert modifications agreed upon in the way previously suggested, ante, pp. 278, 279, 555, 556) And A Covenant by morthereby covenants with B that he will forthwith insure, &c. (d) gagor to insure, (proceed as ante, p. 550, substituting for "the said term" the words "the continuance of this security," and adding after "reinstating the said premises," the words "or in discharge of the money under this mortgage at the option of B") And B by morthereby covenants with A that so long as A or any person or permit persons claiming under him shall faithfully perform the cove- to remain nants (not including the covenant for payment of the principal session. money on the said 18 ) and observe the provisions on his or their part to be performed and observed hereunder, B shall not nor shall any person or persons claiming under him enter into possession of the premises comprised in this security without giving A or the person or persons claiming under him calendar

day of

months' notice in writing of his or their intention to that effect (e).

In witness, &c.

gagee to

mortgagor

in pos

(a) The object of the words between asterisks is to bind the parties by covenant; cf. ante, p. 342, note 7.

(b) 44 & 45 Vict. c. 41, ante, p. 365.
(c) lb. ss. 19-24, ante, pp. 370-377.
(d) This covenant should only be

inserted where the premises com-
prise houses or other property of an
insurable nature; any special covenant
should be here added.

(e) This is only an example of a
covenant on the part of a mortgagec.

Parties.

Recital of

LIII.—MORTGAGE OF FREEHOLDS HELD In Base Fee anND

COPARCENARY TO JOINT TENANTS.

Equity of Redemption reserved to some only of the Mortgagors.Provisions as to Reduction of Interest, Liability of Mortgagors, and Priority of Charge.

THIS IN DENTURE OF MORTGAGE made, &c., BETWEEN A, of, &c. and B of, &c. (hereinafter called the Mortgagors of the first part) of the first part C of, &c., and D his wife (hereinafter called the Mortgagors of the second part) of the second part, E of, &c., F of, &c., and G of, &c. (hereinafter called the Mortgagors of the third part) of the third part, and H of, &c., and K of, &c. (hereinafter called the Mortgagees) of the fourth part WHEREAS X, late of

in the

devise for

life,

County of

remainder

in tail,

1824 devised all his real estate to P for life

of death of with remainder to Q and the heirs of his body (a) AND

testator,

deed to

WHEREAS X died on the day of

1826 without

having revoked or altered his said will being at the time of making the same and thenceforth till his death seised in fee simple of the hereditaments described in the first schedule of fine and hereto (b) AND WHEREAS Q in Easter Term 1827 levied a certain fine sur conusance de droit come ceo, &c. which was duly recorded in the same term of the said hereditaments to Y and his heirs And by an indenture dated the day of 1827 and expressed to be made between Q of the first part Y of the second part and S of the third part it was declared

declare uses,

(a) X is supposed to die intestate as (b) Cf. ante, pp. 191, 191. to the reversion.

that the said fine should enure to the use of S for life with
remainder to the use of such children of S as should be living
at the death of S and their heirs as tenants in common (a)
AND WHEREAS P died on the
Q him surviving (b) AND WHEREAS S died on the

day of

leaving his two sons the mortgagors of part his only issue (c) AND WHEREAS Q died on the day of

leaving of death of

tenant for

day of life under devise,

the first of death of

tenant for life under

deed

uses,

tenant in

and his granddaughter V a spinster of the declaring age of fifty years is his only issue or descendant now living (d) of issue of AND WHEREAS C and D are now seised in right of D of the tail, reversion in fee expectant on the base fee in the said ditaments now vested in A and B as aforesaid (e) WHEREAS by an indenture of feoffment dated the

of reversion

here- vested in Mortgagors

AND of second

part, day of of feoff

ment and

1825 and expressed to be made between W of livery of seisin, the one part and X of the other part and livery of seisin made in pursuance of the letter of attorney therein contained the hereditaments described in the second schedule hereto were conveyed and assured to X and his heirs (ƒ) AND WHEREAS

(a) A base fee to last during the continuance of Q's issue is acquired by the fine and transferred by the deed; cf. ante, pp. 38, 39.

(b) This recital may be omitted. (c) Cf. ante, p. 256.

(d On the death of V without issue the base fee if not enlarged into a fee simple estate, would determine.

(e) Under s. 19 of the Fines and Recoveries Act it would be competent to A and B to enlarge their estate into a fee simple estate, so as to bar the reversion vested in C and D, and dispense with their concurrence in the present transaction; but exceptional

cases may be supposed where it might
be as cheap and expedient to procure
the concurrence of the reversioners or
remainder-men; thus, suppose S died
leaving other children besides A and
B, and these other children assigned
their shares to A and B for life; then
no disentailing assurance executed by
A and B could affect the reversion in
those shares, whilst it is possible that
a mortgagor or purchaser would be
content to take his chance of the base
fee determining before the same was
enlarged as to those shares.

(f) Cf. ante, pp. 6. 7, 20, 66, 67, 76.