MORTGAGES

Equity of Redemption of Leaseholds.

No. XLII.

Mortgage of an Equity of Redemption of Leasehold Premises (1).

Variations where a Power to sell is given to the Mort

Parties.

Lord

BETWEEN

of the one part, and

Recital of

former mortgage.

and] in the year of our
(the mortgagor) of, &c.

(the mortgagee) of, &c. of the other part. WHEREAS,
&c. (4). AND WHEREAS by an indenture of assign-
ment bearing date on or about the

day of

and made, or expressed to be made between the said (mortgagor) of the one part, and (the former mortgagee) therein described to be of, of the other part, the said (mortgagor) in

&c.

Power of sale.

Brevity.

Recitals.

(1) See notes, &c. to No. XXXVI. ante, p. 729.

(2) See ante, p. 233, n.

(3) See also notes and variations to No. X. ante, p. 233. * If brevity be particularly desired, the words within brackets may be omitted throughout the precedent.

(4) Recite here the lease, as ante, p. 730.

consideration of the sum of £

therein ex- MORTGAGES

Equity of

Leaseholds.

pressed to be then advanced to him by the said (former mortgagee) by way of loan, and at in- Redemption of terest after the rate of five per cent. per annum, granted and assigned unto the said (former mortgagee) his executors, administrators, and assigns, the several messuages, tenements, and premises demised by the said hereinbefore in part recited indenture of lease, with the appurtenances for the residue of the said term of

years,

then to come therein, but subject nevertheless to
a proviso therein contained for redemption and
re-assignment of the said premises, on payment of
the said sum of £
and interest, at a time

therein mentioned, and which is now long since
past. AND WHEREAS the said sum of £

or any part thereof, was not paid at the time mentioned in the said proviso for payment thereof, nor has the same been since paid, wherefore the estate and interest of the said (former mortgagee) in the said premises, became and still is absolute at law, but redeemable nevertheless in equity. AND WHEREAS the said (mortgagor) hath agreed with the said (mortgagee) for the loan to him of the sum of £ (1) at interest, to be repaid at the time and in the manner hereinafter mentioned, and hath executed a bond (2) under his hand and

Of agreement for loan.

(1) If the loan be of money in the funds, see ante, p. 65, Loan of stock. n. (3).

(2) Of this bond see ante, p. 32, n. (1); and for the form of Bond. such bond see WILDE'S SUPPLEMENT, voce BOND.

MORTGAGES seal, bearing even date herewith, conditioned for payment thereof, at the time and in the manner

Equity of

Leaseholds.

Redemption of hereinafter expressed. AND WHEREAS for better securing the payment of the said principal sum of £ and interest, the said (mortgagor) hath agreed to execute such assignment of the said messuages or tenements, subject only to the hereinbefore in part recited mortgage, and to enter into such covenants and agreements as hereinafter are contained. Now THIS INDENTURE WITNESSETH, that in pursuance of the said agreement, and in consideration of the sum of £ of lawful

WITNESS, that in consideration of the money lent,

the mortgagor grants and assigns.

money (1) 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
the said (mortgagee) at or immediately before the
sealing and delivery of these presents, the receipt
whereof the said (mortgagor) doth hereby ac-
knowledge, and of and from the same doth acquit,
release, exonerate, and for ever discharge the said
(mortgagee) his executors, administrators, and
assigns, by these presents and by the receipt or
acknowledgment for the same sum hereupon in-
dorsed, [and which said sum of £
is the

same sum of £
as is mentioned in the con-
dition of the hereinbefore in part recited bond,]
HE the said (mortgagor) HATH granted, bar-

Consideration

transfer of stock.

(1) If the consideration be a transfer of money in the funds, vary this part of the draft agreeably to p. 66, n. (4).

Equity of

Leaseholds.

Parcels.

gained, sold, and assigned, and by these presents MORTGAGES DOTH grant, bargain, sell and assign unto the said (mortgagee) his executors, administrators, and as- Redemption of signs, ALL (1) those the said several messuages or tenements, pieces or parcels of ground, (or as the case may be), and all and singular other the premises comprised in and granted or demised by the said hereinbefore in part recited indenture of lease, of the day of and so assigned to the said (former mortgagee) his executors, administrators, and assigns, by the said in part recited indenture of assignment of the

day

of
as hereinbefore is mentioned; with all
and every the rights, members, easements, privi-
leges, advantages, and appendages whatsoever to
the said messuages or tenements and premises be-
longing, 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; and all the estate, right, title, in-
terest, profit, term and terms of years now to come
and unexpired, equity and right of redemption,
trust, property, possession, claim, and demand
whatsoever, both at law and in equity, or other-
wise howsoever, of him the said (mortgagor) of,

(1) If any material variation, by reason of new erections or Parcels. otherwise, have taken place in the description of the premises, since their demise or assignment to the mortgagor, see ante, p. 733, n. (2).

VOL. V.

3 G

Louity of

MORTGAGES in, to, out of, or respecting the same premises, or any of them, or any part thereof; together with mptom of the said in part recited indenture of lease, (subject as aforesaid) and counterparts of all underleases granted of the said premises, and a counterpart of the said in part recited indenture of assignment by way of mortgage, [and all benefit and advantage of the same respectively, and of the several covenants, provisos, conditions, and agreements therein contained, on the part of the lessor and mortgagee thereof, respectively to be observed or performed.] To HAVE AND TO HOLD the residue of the said messuages or tenements, and all and sin

TO HOLD to mortgagee for

the term.

gular other the premises hereinbefore granted,
bargained, sold, and assigned, or mentioned or in-
tended so to be, with their and every of their
rights, members, and appurtenances; and all
right, equity, and benefit of redemption incident
thereunto, unto the said (mortgagee) his exe-
cutors, administrators, and assigns, for all the re-
sidue or remainder which is or may be now to
come and unexpired by effluxion of time, of or in
the said term of
years, in or by the said
in part recited indenture of lease granted and de-
mised, or mentioned or intended so to be (the last
day of the said term only excepted) freed and
discharged, or effectually indemnified against the
rent in or by the said in part recited indenture of
lease reserved, and the covenants, provisos, and
agreements therein contained, on the part of the
tenant or lessee of the said premises, to be paid,