No. XV. Mortgage in Fee of an Advowson, or perpetual Variations where it is of a Rectory. Where the Mortgage is by Demise for a Term. MORTGAGES Advowson. of Parties. reign, &c. and] in the year of our Lord BETWEEN (3) (the mortgagor) of, &c. (1) As to the mode of conveying an advowson, see ante, How granted. Vol. III. No. LX. n. (1). (2) As the interest of a mortgagee extends to such incidents Interest of only to the mortgaged premises as are susceptible of being con- mortgagee. verted into a profit for the payment of the sum borrowed, an advowson (which in its nature is wholly unproductive, and of which, until foreclosure, the mortgagee is considered as a trustee only for the mortgagor, Amhurst v. Dawling, 2 Vern. 401), cannot be considered as an eligible security, unless accompanied by a power of sale, and see Mackenzie v. Robinson, 3 Atk. 559. The parts within brackets may, throughout the precedent, Brevity. be omitted, where brevity is particularly desired. (3) If the wife of the mortgagor have a title to dower in re- Wise. spect of the advowson, make her a party. Advowson. MORTGAGES the one part, and (the mortgagee) of, &c. of the other part. WHEREAS the said (mortgagor) being seised of an estate of inheritance in feesimple, in the rectory or advowson of in Recitals. the county of the sum of £ and having occasion for , has agreed with the said (mortgagee) for the loan to him thereof (1), to be secured with interest after the rate of five per cent. per annum by the bond of the said (mortgagor), and such conveyance by way of mortgage, of the said rectory or advowson, with such covenants, powers, and stipulations as hereinafter are contained; and in part execution of the said agreement, the said (mortgagor) hath executed a bond (2) or obligation in writing bearing even date herewith, conditioned to be void on payment of the said sum and interest, at the time and in the WITNESS, that manner hereinafter mentioned. Now THIS INDENTURE WITNESSETH, that in further pursuance and execution of the said agreement, and in consideration of the sum of £ of lawful money (3) of that part of the United Kingdom of Great Britain and Ireland called England, to the said (mortgagor) in hand well and truly paid by in consideration of the money lent. Loan of stock. Bond. Loan of stock. (1) If the loan be of money in the funds, see ante, No. V. p. 65, n. (3). (2) The mortgage of an advowson should always be accompanied by a bond, see ante, p. 32, n. (1); for the form of this bond see Wilde's Sup. voce BOND. (3) If the consideration be a transfer of money in the funds, see ante, No. V. p. 66, n. (4). Advowson. the said (mortgagee) at or immediately before MORTGAGES the sealing and delivery of these presents, the receipt whereof the said (mortgagor) doth hereby acknowledge, [and of and from the same doth fully and absolutely acquit, release, discharge, and exonerate the said (mortgagee) his heirs, executors, administrators, and assigns, and also the said advowson and hereditaments by these presents (1)], and which said sum of £ is the same sum of £ as is mentioned in the grants and re condition of the said in part recited bond. He The mortgagor the said (mortgagor) HATH (2) given, granted, leases, &c. bargained, sold, aliened, and released (3), and by sale enrolled. (1) If the release be intended to be accompanied by a bargain Bargain and and sale to be enrolled, which will be proper, see Vol. I. n. (9), refer to such indenture, as is the same sum of £ p. 171, "Which said sum of £ as is mentioned to be the consideration money in a certain indenture of bargain and sale, bearing or intended to bear even date herewith, and made between the same parties as are parties hereto, and intended to be inrolled in one of his Majesty's courts at Westminster." And see the form of such bargain and sale, ante, p. 12. (2) If the conveyance be intended to be made by grant or by Bargain and bargain and sale to be enrolled, omit the words " aliened and sale enrolled. released." (3) If the mortgage be by demise, say, "HATH given, granted, bargained, sold, and demised, and by these presents doth give, grant, bargain, sell, and demise, unto the said (mortgagee) his executors, administrators, and assigns, ALL that the said advowson, &c. (as Demise. Advowson. MORTGAGES these presents DoтI give, grant, bargain, sell, alien, release, and confirm unto the said (mortgagee) and his heirs, ALL (1) that the (2) advowson, right of nomination, presentation, collation, donation, patronage, and free disposition of, in, and to all that rectory, vicarage, parsonage, in the county of The advowson. tenances. or parish church of &c. [and also (if so) all those glebe and other lands to the same belonging or enjoyed there General appur with, that is to say, All, &c.] TOGETHER with all houses (3), outhouses, buildings, barns, stables, coach-houses, dove-houses, yards, tithes, and portions of tithes, tenths, oblations, obventions, fruits, dues, perquisites, profits and emoluments, of what nature or kind soever, to the said advowson, rectory, or parsonage, belonging, or in any wise appertaining, or yearly or otherwise increasing, growing, or becoming due and payable within the township or parish of aforesaid, Moiety, &c. Remainder, &c. Rectory. Advowson in gross. [and all ways, paths, passages, gardens, orchards, ponds, waters, land covered with water, water above) together with all and every the rights, privileges, advantages, and appurtenances to the same belonging." (1) If the mortgagor be entitled to a moiety or other portion only of the advowson, see the mode of description and other variations, ante, No. XI. And if it be of a remainder or reversion expectant upon the determination of any prior estate, see ante, No. IX, (2) If the mortgage be of a rectory only, omit the words within braces. (3) If the advowson be in gross and without any of these appurtenances, all reference to them should of course be omitted, Reference to the bargain and sale for a year. courses, timber and other trees, woods, under- MORTGAGES woods, rights and privileges of common of Advowson. every kind, and all] and all manner of [other] rights, privileges, advantages, appendages, and appurtenances whatsoever, to the said advowson, right of patronage, [glebe lands,] hereditaments, and premises, or any of them, or any part thereof respectively belonging, or in any wise appertaining, or reputed or deemed so to be, or with the same or any of them now or heretofore holden, used, occupied, or enjoyed, (ALL (1) which said advowson, right of patronage, [lands,] and hereditaments, are now in the actual possession of, or legally vested in the said (mortgagee) by virtue of a bargain and sale to him thereof made by the said (mortgagor) for five shillings consideration, by indenture bearing date on the day next before, and executed previously to the sealing and delivery of these presents, for the term of one year, commencing from the day next preceding the date of the same indenture (2), and by force of the statute made for transferring uses into possession.) And the reversion and reversions, remainder and remainders, of and in the said advowson, right of patronage, sale enrolled. (1) If the mortgage be made by grant, or by bargain and Bargain and sale enrolled, omit this reference to the bargain and sale for year. And so also if the mortgage be by demise. a Demise. (2) See the form of this bargain and sale, ante, p. 124. sale. |