ANNUITIES. the quarterly payment or sum of £

Secured on Freeholds. (Full Form.)

of lawful money

of the United Kingdom of Great Britain and Ireland, of English value and currency, upon or within seven days next after all and each of the several days or times hereinbefore appointed for the payment of the said annuity, yearly rent charge, or annual sum of £

then and in

such case, he the said (grantee) his executors, administrators, and assigns, shall and will from time to time, receive and accept of such sum of £

in full payment and satisfaction of the said quarterly payment, or sum of £ hereby made payable for or in respect of the said annuity, yearly rent charge, or annual sum of £ and sign and give a good and sufficient discharge for the same, as and in full for the said sum of accordingly, and then and in that case, and so long as such quarterly payment, or sum of £ shall be so punctually made, the grant and covenant, and other the declarations and agreements hereinbefore contained for payment of the said quarterly sum of £

on the days

and times appointed for payment of the same, shall extend,
and be deemed and construed to extend, to the said sum of
£
only, and no more, any thing hereinbefore con-
tained to the contrary thereof in any wise notwithstanding,
it being the true intent and meaning that the full annual
sum of £
but no more, shall at all times, and
from time to time, be received and retained by the said
for his own use, under or by virtue of these

But acceptance presents. PROVIDED ALWAYS nevertheless, and it is hereby also declared and agreed, that in case (1) the said annuity, yearly rent charge, or annual sum of £

of reduced sum not to preclude, &c.

shall

Property tax.

(1) If the property tax is in being, add here,

"If the said tax or duty, after having been so withdrawn or discontinued, or abated or diminished, shall at any time thereafter be restored or again made payable, or any other tax or duty upon property or income in lieu thereof, then and in such case."

a longer ANNUIties.

Secured on

Freeholds.

at any time hereafter be in arrear by the space of period than seven days, from or next after the day or time whereupon the same is hereinbefore made payable, then and in such case the proviso, declaration, or agree- (Full Form.) ment, lastly hereinbefore contained, shall as well as to and in respect of such quarterly payment of the said annuity, yearly rent charge, or annual sum of £

which shall

be then due, as of all and every future or other payments
thereof, thenceforth be wholly void and of none effect, and
then and in such case the said (grantee) his executors, ad-
ministrators, or assigns, shall or lawfully may at all times,
and from time to time thereafter, have, demand, recover,
and receive the full sum of £
as or for all and
every or any future quarterly payment of the said annuity,
yearly rent charge, or annual sum of £
in like
manner as if the proviso or agreement hereinbefore contained
for reducing the same to the said sum of £

had not been made, any thing hereinbefore contained to
the contrary thereof, or any previous or intermediate ac-
ceptance by the said (grantee) his executors, administrators,
or assigns, at any time or times, of any payment or pay-
ments of the said sum of £
in lieu or full of the

in any wise notwithstanding."

said sum of £
Proviso for abatement of an annuity, on reduction or repeal
of the property tax (1), see ante, p. 64.

“PROVIDED ALWAYS nevertheless, and it is hereby declared and agreed by and between the said (grantor) and (grantee) respectively, and he the said (grantee) hereby for himself, his heirs, executors, and administrators, doth covenant, promise, declare, and agree with and to the said (grantor) his executors, administrators, and assigns, in the manner following (that is to say) that in case the tax or duty payable for or on account of property or income, hereinbefore excepted out of the said annuity, yearly rent charge,

(1) Although no property tax is now in being, yet as it is very probable that such a tax will, sooner or later, be again imposed, it was thought right to provide for that event.

Abatement on cessation of property tax.

ANNUITIES. or annual sum of £

Secured on Freeholds. (Full Form.)

Property tax, (short form.)

and amounting to the sum of

£ shall at any time hereafter, during the subsistence
of the said annuity, be discontinued, or repealed, or abated,
or diminished by parliament, then and in such case, if the
said (grantor) his heirs, executors, or administrators, do
and shall from thenceforth well and truly pay, or cause to
be paid, unto the said (grantee) his executors, admini-
strators, or assigns, so much of the full and clear sum of
£.
as shall remain after deducting the said annual

sum of £
or such other sum as for the time being shall
be payable for or by way of property or income tax or duty,
so and in such manner and to the intent that he the said
(grantee) his executors, administrators, and assigns, shall and
may at all times during the natural lives of the said (nominees)
or the life of the survivor of them, have and receive a clear
and net yearly rent charge, or annual sum of £
freed of all abatements and deductions whatsoever, then and
in such case, he the said (grantee) his executors, admini-
strators, and assigns, shall and will from time to time re-
ceive and accept of such clear yearly rent charge, or annual
sum of £
or other sum to which the said annuity,

hereby

yearly rent charge, or annual sum of £
granted shall be reduced, after deducting the said property
or income tax for the time being, in lieu and full of the said
annuity, yearly rent charge, or annual sum of £
hereby made payable, and sign and give a good and suffi-
cient discharge for the same accordingly, and then and in
such case the agreements, covenants, and other the declara-
tions and agreements hereinbefore contained and provided
for payment of the said annuity or yearly sum of £

shall, for the time being, extend, and be deemed and con-
strued to extend, to the reduced sum, annuity, or yearly
sum of £
any thing hereinbefore contained to the
contrary thereof in anywise notwithstanding."

Or shorter, thus,

Proviso to be added in case of there being an income tax chargeable on the grantee, see ante, p. 64.

“PROVIDED ALWAYS, and it is hereby declared and agreed, that if the said (grantor) his heirs, executors, or

administrators, shall and do from time to time, as and when Annuities. the said annuity, or yearly sum of £

hereby granted

or such

Secured on
Freeholds.

or covenanted to be paid, well and truly pay, or cause to be paid, to the said (grantee) his executors, administrators, (Full Form.) or assigns, the full and clear sum of £ quarterly or other portion thereof as shall be then due, without any deduction for or on account of the present or any future tax upon property or income, payable in respect thereof, then and in every such case he the said (grantee) his executors, administrators, and assigns, shall and will receive and accept of such clear annuity, or yearly sum of £ or quarterly or other portion thereof, in lieu and full satisfaction of the said annuity, or yearly sum of £ or of the portion then due for the same, and sign and give a receipt and acquittance to the said (grantee) his executors, administrators, and assigns, for such last mentioned annuity, or yearly sum, or proportionable part thereof accordingly, any thing hereinbefore contained or implied to the contrary thereof in any wise notwithstanding."

ANNUITIES.

Secured on

Freeholds.

(Full Form.) (D.) Assignment of Policy of Insurance against Fire (1).

Recital of policy of assurance against fire.

WITNESS, the grantor assigns

The policy.

See ante, p. 46, note 57.

and

"AND WHEREAS the said (grantor) hath caused the messuages or tenements and buildings hereby charged with the payment of the said annuity, [and the furniture and other effects therein], to be insured against loss by fire, in the insurance office, London, for the term of seven years, from the day of last past, in the sum of £ it hath been agreed by and between the parties hereto, that the benefit of such insurance thereof shall be assigned to the said (trustee) in the manner hereinafter mentioned, as an additional security for the payment of the same annuity. NOW THIS INDENTURE FURTHER WITNESSETH, that in pursuance of the said agreement, [and for and in consideration of the sum of five shillings of lawful current money of England, to the said (grantor) in hand at the time of the execution hereof paid by the said (trustee) (the receipt whereof is hereby acknowledged),] HE the said (grantor) at the request and by the direction of the said (grantee) testified as hereinbefore is mentioned HATH granted, bargained, sold, assigned, transferred, and set over, and by these presents DoтH grant, bargain, sell, assign, transfer, and set over unto the said (trustee) his executors, administrators, and assigns, ALL that deed poll, or instrument in writing, purporting to be a policy of insurance under the hands and seals of three of the directors of the insurance com

(1) It was said in the case of the Sadlers' Co. v. Badcock, 2 Atk. 554; and see Lynch v. Dazrell, 3 Brow. Par. Ca. 497, that policies of assurance are not in their nature assignable, nor intended to be transferred from one person to another without the consent of the office; but quære, unless so stipulated in the policy.