MORTGAGES Will, from time to time, and at all times so long as the said principal sum of £

Mortgagor and by Demise.

or the interest Dower Trustee, thereof, or of any part of the same respectively, shall remain unpaid and unsatisfied, upon every reasonable request of the said (mortgagee) his executors, administrators, or assigns, but at the costs and expense of the said (mortgagor) his executors or administrators, make, do, acknowledge, levy, suffer, execute, and perfect, or cause and procure to be made, done, acknowledged, levied, suffered, executed, and perfected, with all due and proper despatch, all and every such further and other lawful and reasonable acts, deeds, conveyances, matters, and things whatsoever, [whether by fine or fines, with or without proclamations, common recovery or common recoveries, deed or deeds enrolled or not enrolled, feoffment, release, confirmation, declaration, or limitation of or to any use or uses, or other assurance or assurances whatsoever, for the better, more perfectly and absolutely, or satisfactorily [limiting and appointing, and] granting, demising, and assuring the same messuages, lands, tenements, hereditaments, and premises, and every or any part or parcel thereof, unto the said (mortgagee) his executors, administrators, and assigns, or other person or persons in trust for him or them, for and during all the residue or remainder which shall be then to come and unexpired of or in the said term of five hundred years hereby granted

Mortgagor and

by Demise.

thereof (1), {and also for granting, releasing, MORTGAGES limiting, appointing, conveying, and assuring the fee-simple, reversion, and inheritance (2) of the Dower Trustee, same hereditaments and premises, with their and every of their respective rights, members, and appurtenances, unto and to the use and behoof of, or in trust for the said (mortgagee) his heirs and assigns,} in such manner or form as he the said (mortgagee) his heirs or assigns, or his or their counsel in the law, (being of the degree of a barrister), shall advise and require (3). PROVIDED Mortgagor to ALWAYS nevertheless, and it is hereby further de- fault. clared and agreed, &c. (Mortgagor to enjoy till default) (4). IN WITNESS, &c. (5).

enjoy till de

(1) If a power of sale be given to the mortgagee, see and Power of sale. vary as ante, p. 476.

(2) See as to this part of the covenant, ante, No. V. p. 150,

n. (3); but see also Coot. Mortg. pp. 109. 607.

(3) If the premises consist wholly or chiefly of buildings, a Insurance, &c. covenant to repair and also to insure and keep them insured,

should be inserted here; see No. IV. p. 98.

(4) See ante, p. 151.

(5) See various additional clauses, &c. to be added, as the Additions. agreement of the parties, &c. may require, ante, p. 452, n. (1).

MORTGAGES

Purchaser to Vendor, for securing

Purchase Money.

Parties.

No. XXXI.

Mortgage in Fee to a Vendor for securing Part of Purchase Money agreed to remain upon Mortgage.

Variations where the Mortgage is by Demise (1). Where the Purchase took the Conveyance to a Trustee for preventing Dower.

Other Variations as in the Margin below (2).

Demise.

Brevity.

(1) This mortgage may be by demise as in other cases; see ante, No. V. p. 133, n. (1); but if in the purchase deed (of even date) a conveyance was made to a trustee in fee, the reversion subject to the term will be outstanding in him on his demising for years. To prevent this, however, the estate may, by the purchase deed, be demised to the trustee for the same term as is intended to be afterwards mortgaged, and the mortgage will then be by an assignment of such term.

(2) See also Vol. II. No. LI. p. 381, where the mortgage is comprised in the purchase deed; and see also, ib. 389, n. (1).

* If brevity be particularly desired, the words within brackets may be omitted throughout the precedent.

of MORTGAGES

a trustee

(the mortgagor, i. e. the purchaser) of, &c.
the first part, (the trustee) (1) of, &c.
named and appointed in and by a certain inden-
ture of release hereinafter recited, for the pur-
pose hereinafter mentioned, of the second part (2),
and (the mortgagee, being the vendor) of, &c.
of the third part. WHEREAS the said (mortgagor)
lately contracted with the said (mortgagee) for
the absolute purchase of the messuages, lands,
and hereditaments, hereinafter described, at the
sum of £
; and it was agreed, upon the
contract for the said purchase, that the sum of
£ part of the said purchase money, should
remain upon the security of the premises [and the
bond of the said (mortgagor),] until the

day

bear

ing interest in the mean time after the rate of £5

Purchaser to

Vendor, for Purchase Money.

securing

Recital of conpurchase.

tract for the

the trustee in

per cent. per annum. AND WHEREAS by inden- Conveyance to tures of lease and release, the lease bearing date trust. the day next before the day of the date of the re

(1) This precedent is founded on the presumption that the Trustee. conveyance to the purchaser was made to a trustee to avoid any judgments, &c. of the purchaser's attaching upon the estate (see Vol. II. p. 381, n. (2)—388, n. (1)); but if it was a simple conveyance to the purchaser himself, the mortgage will not differ from any other mortgage made for securing the payment of money lent; but in that case careful search should be made in the proper offices for incumbrances before the execution of the mortgage deed.

(2) If the conveyance to the purchaser was taken to him and Trustee a trustee for preventing dower, make such trustee of the third part.

Purchaser to Vendor, for securing

MORTGAGES lease, and the release bearing date the day next but one before the date of these presents, and made or expressed to be made between the said Purchase Money. (mortgagee) of the first part, the said (mortgagor) of the second part, and the said (trustee) of the third part, the said (mortgagee) in pursuance of the said contract, and in consideration of the sum of £ to him in hand paid by the said (mortgagor) in part of the said purchase money or sum of £ granted and released, or otherwise assured, the said messuages, lands, and hereditaments, unto and to the use of the said (trustee) his heirs and assigns, in trust nevertheless that he the said (trustee) or his heirs, should, immediately upon the execution thereof, by indenture or indentures of mortgage, either in fee-simple or for a term of years, of all and singular the same premises, well and effectually secure or cause to be secured unto the said (mortgagee) the payment of the said purchase money or sum of £ on the of together with interest for the same after the rate of £5 per cent. per annum in the mean time, and from and upon full payment and satisfaction thereof, and, in the mean time, subject thereto, and to the estate and interest to be granted or demised thereof; IN TRUST for the said (mortgagor) his heirs and assigns for ever. AND WHEREAS in part pursuance of the said agreement on the part of the said (purchaser) for securing the payment of the residue of the said purchase money, at the time aforesaid, the said (mortgagor)

day