MORTGAGES

Mortgagor to Mortgagee in fee.

(E) Power for Mortgagor to grant Leases. See ante, (Concise Form.) p. 82, n. (22).

"PROVIDED also, and it is hereby declared and agreed by and between the said parties to these presents, and the said (mortgagee) for himself, his heirs, executors, and administrators, doth hereby covenant, declare, and agree with and to the said (mortgagor) his heirs and assigns, that during the continuance of the said mortgage, and notwithstanding failure may be made in the payment of the said sum of £ and interest, or any part of the same respectively, on or at the day and time appointed or mentioned in the proviso hereinbefore contained for payment thereof, it shall be lawful for the said (mortgagor) his heirs and assigns, at any time thereafter, and from time to time until the said (mortgagee) his executors, administrators, or assigns, shall by ejectment, or other action or proceeding at law or in equity, recover or seek to recover the possession of the said hereditaments and premises, or some of them, or by bill or other suit or proceeding in equity, foreclose or seek to foreclose the equity of redemption of the said mortgaged premises, by indenture or indentures under the hand and seal of the said (mortgagor) his heirs or assigns to demise, lease, or grant, or limit or appoint by way of demise, lease or grant, all or any of the said lands, hereditaments, and premises which have been usually letten to rent, unto any fit and proper person or persons who shall be willing to take the same for any term or number of years, not exceeding twenty-one years (1), so as the lease or leases which shall be so granted

(1) If it be desirable that this power should be extended to Building lease. the granting of building leases, see the form of such a power,

INDEX VOCE POWER.

Mortgagor to Mortgagee in fee. (Concise Form.)

MORTGAGES be made to take effect in possession or within three calendar months from the date thereof, and not in reversion or otherwise by way of future interest, and so that in all and every the said leases there be reserved and made payable half yearly or oftener during the continuance of the said term thereby to be granted, the best and most approved yearly rent or rents to be incident to the immediate reversion of the said premises, which can be had or reasonably obtained for the same without taking any sum or sums of money, or other thing exceeding the sum of 10s. by way of fine, premium, or foregift, and so as the lessees in the said leases enter into all proper and usual covenants to repair and leave in repair the messuages, erections, and buildings, and manure, till, and manage the arable and pasture land so to be demised, according to the usual course of husbandry there, and that the tenants or lessees do not assign or underlet the said premises, or any part thereof, without the licence and consent in writing of the said (mortgagee) his heirs, executors, administrators, or assigns, and all other covenants, stipulations, and agreements which are usual in leases of a like nature. And so as in every of the said leases there be contained conditions of re-entry for non-payment of the rent, and for non-performance of the covenants and agreements therein reserved and contained, and an express exception of all timber trees or trees likely to become timber, and also a clause or clauses whereby the lessee or tenant of the demised premises shall be restrained from committing And the said (mortgagee) for himself, his heirs, executors, administrators, or assigns, doth further covenant, declare, and agree, that he and they shall and will from time to time upon the reasonable request, and at the costs and charges of the said (mortgagor) his heirs and assigns, become party to, and seal and deliver and otherwise allow, ratify, and confirm all and every the lease and leases to be granted in conformity to the true intent and meaning of, and the terms and restrictions of the last-mentioned clause or agreement. Provided nevertheless, that the effect or operation of any such allowance, ratification, or confirmation

Mortgagee will confirm said leases.

waste.

Mortgagor to Mortgagee in fee. (Concise Form.)

of such lease or leases, shall not be to defeat or prejudice the MORTGAGES right of him the said (mortgagee) his heirs or assigns, to enter upon and recover, and retain possession of the said mortgaged premises by virtue of the grant and release hereinbefore contained, subject only to the said lease or leases so to be granted.

MORTGAGES

Mortgagor to

Mortgagee in fee.

(Concise Form.) (F) Provisoes authorising or forbidding the Mortgagor to

Power for mortgagor to fell timber.

Covenant that

mortgagor will not fell timber.

fell Timber. See ante, p. 83.

"AND that he the said (mortgagor) his heirs and assigns, shall and may during the continuance of the said mortgage, (unless and until notice in writing under the hand of the said (mortgagee) his heirs or assigns, shall be given to him or them to the contrary), fell, cut down, and carry away all such timber and underwood of full and proper growth which for the time being shall be upon the said lands and premises, at seasonable and ordinary times; in like manner as a tenant for life, without impeachment of waste, may by the rules of law or of equity fell and carry away the same."

Or if the timber upon the estate be a principal security for mortgage debt, the mortgagor may be expressly restrained from exercising such privilege.

"AND further, the said (mortgagor) doth hereby for himself, his heirs, executors, and administrators, covenant, promise, grant, and agree to and with the said (mortgagee) his executors, administrators, and assigns, that so long as the said principal sum of £ so now lent and advanced by the said (mortgagee) on security of the said capital messuages, lands, hereditaments, and premises as aforesaid, or any part thereof, (exceeding the sum of £ ), shall remain due and owing thereupon, he the said (mortgagor) his heirs or assigns, shall not nor will cut down, fell, sell, or dispose of any wood, timber, or other trees off or from the said lands, hereditaments, and premises hereby granted and released, or mentioned or intended so to be as aforesaid, or any part thereof, (other than such wood, timber, or other trees only as shall or may from time to time be employed or made use of, for, in, or about the necessary repairs of the said capital messuage, hereditaments, and premises, or some part thereof,) without the consent and approbation of the said (mortgagee) his heirs, executors, administrators, or assigns,

Mortgagee in fee. (Concise Form.)

Mortgagor to

first had and obtained in writing under his or their hand or MORTGAGES respective hands. And also that he the said (mortgagor) his heirs, &c. shall and will from time to time during the continuance of the said security, preserve the timber and other trees now growing or to grow upon the said lands and hereditaments, or any part thereof, free from all damage and injury, and manage and cultivate, or cause to be managed and cultivated, all and singular the said lands, &c. in a good and husbandlike manner, according to the custom of the country."