Guarantee of Docks. powers for company to sell, &c.; XXXVIII. and stocks, and shares, or any part thereof respectively, and to Performance lay out with roads, sewers, and otherwise to let, or sell, the of Covenants same lands in plots or otherwise, for building or other by Lessees of purposes; and for insuring such buildings against fire, and for granting and retaining easements over the same or any part thereof, and generally for managing, cultivating, and disposing of the same lands to advantage; AND also for settling and adjusting the claims and interests of incumbrancers on the said lands; and also as well before as after default (but if before default only with the assent of the lessees), for mortgaging the whole or any part of the premises, for the purpose of meeting, or taking up or consolidating or settling any of the existing mortgages on the said lands according to the said schedule; AND also a covenant by the lessees for providing persons willing to accept transfers of such mortgages in the event of the same or any of them. being called in, and a power enabling the company and the said trustees to redeem such mortgages, or any of them; AND also a covenant by the lessees to repair, amend, and uphold the premises comprised in the security, and for enabling the company to do the same in case of default by the lessees, and to be repaid for all outlay by exercise of the power of the indemnity deed; AND in the said deed shall also be contained a power enabling such one or more of them the lessees as subject to this memorandum is or are beneficially entitled to the said lands at any time before such default as aforesaid, proviso as to to lease the said lands or any part thereof: PROVIDED always that no such lease be made without the previous assent of the company, except upon the terms of reserving a rent equal to at least 57. per cent. upon the valuation price according to the schedule, with a sum equivalent to 337. per cent. added thereto; but every lease granted under this provision shall be in such form that the rent and covenants shall be incident to the immediate legal reversion of the premises so leased; as to sales of AND there shall also be contained a provision that the said lands; company and the said trustees will at any time or times, until such default as aforesaid, concur with the said lessees in any sale of the said lands or any part thereof: PROVIDED no sale be made at a less price than the valuation price according to the schedule, with an addition of 331. per cent. thereto, and provided that the valuation price and one-third of any excess of such purchase-money beyond powers for lessees to grant leases; such leases; proviso as to price; that price shall be retained by the company as part of the XXXVIII. Performance of Covenants Guarantee of by Lessees of Docks. lessees to withdraw payment; : PROVIDED that no such lands, proviso as to upon which ground rents shall be so secured, shall be ground rents; required to be accepted by the company as an equivalent, unless the lease reserving such rent shall contain all usual stipulations and be for a term of not less than sixty years from the making thereof, and unless such ground rents be well secured, and any difference between the lessees and the company as to the same being well secured, shall be settled by arbitration; AND there shall also be contained in the said deed a provision entitling the lessees at any time, until default, to withdraw from the security the whole or any lands from the part of the said lands, or the whole or any part of the stocks security, on or shares for the time being comprised therein, on payment in money to the said trustees of the security of the price or sum of £- — in the event of a release of the whole of the land; or in the event of the withdrawal of a portion of the land on payment of the value of such portion as defined in the first schedule, with an addition of 337. per cent.; or in the event of the release of any of the stocks or shares, on payment of the value thereof according to the second schedule. hereto, or on the substitution by conveyance or transfer to the trustees of other securities of adequate value, any difference as to such value being settled by arbitration; AND also substitution a provision that in the event of any of the said stocks securities in or shares falling according to the price current for the time case of depreciation; being below the sums at which they are respectively valued in the schedule, the said lessees will immediately, on the request of the company, substitute other securities equal in value according to the said schedule to the stocks or shares for which they shall be substituted, or make up the deficit by of other Guarantee of of Covenants Docks. guarantee fund; XXXVIII. adding other securities of adequate value, any difference or Performance dispute as to value being settled by arbitration; and this by Lessees of provision shall apply from time to time as well to original securities as to securities substituted under the operation of investment of this provision; AND there shall also be contained in the said deed provisions for the investment of the guarantee fund for the time being until default on real security in England or Wales, or upon the guaranteed or preference shares, or debentures of any incorporated company paying a dividend, or upon such said adequate securities as the said company and the said lessees may from time to time agree upon, or as shall be determined by arbitration in the event of difference; and also a provision for the charge of such investments upon the terms application of aforesaid; AND also a provision entitling the lessees to receive the net annual income of the investments of the land until the company shall have a right to resort to the fund for the purposes of indemnity; and also a provision for arbitration. in the event of any difference between the parties hereto as to the form of the deed or deeds to be executed in pursuance of this memorandum, or as to the provisions, costs, clauses, and conditions to be contained therein, such difference shall be settled by Esq., or in the event of his dying or declining to act, then by such conveyancer being at the bar, and of not less than fifteen years' standing, as shall be named by her Majesty's Attorney-General for the time being. income; arbitration. 9. All costs and expenses as between solicitor and client in relation to the deposit and transfers and this agreement, and to the carrying into effect the stipulations, acts, matters, and things herein contemplated, shall be borne and paid by the lessees, and any property for the time being comprised in the security shall be charged and chargeable therewith. AS WITNESS, &c. THE FIRST SCHEDULE ABOVE REFERRED TO. THE SECOND SCHEDULE ABOVE REFERRED TO. XXXIX. AGREEMENT for a LOAN (a). AN AGREEMENT made the day of -, 18—, BETWEEN [borrower], of &c. (hereinafter called the borrower), Parties. of the one part, and the Assurance Society (hereinafter rower; called the lenders), of the other part. WHEREAS the borrower Recitals of is absolutely entitled in fee simple in possession to certain seisin of bor. freehold and copyhold houses, lands, and premises more particularly described in the schedule hereto annexed, the estimated value of each separate property being also therein stated; AND WHEREAS such properties are subject to various subject to family and other charges; AND WHEREAS the said is charges; of application desirous of paying off such charges, and for such purpose for loan. and his other occasion has applied to the lenders to lend him (through their trustees) the sum of £- -, upon the security of an absolute mortgage or mortgages of the said properties respectively, which the lenders have consented to do on the following conditions. NOW THESE PRESENTS WITNESS and it is hereby agreed as follows: per month of advance. 1. The society shall, subject as hereinafter mentioned, Agreement for advance the sum of £- on mortgage at £cent. interest, payable half-yearly, with a proviso for reduction to £per cent. on payment within the respective payments becoming due. The advance to be for a term of not less than years, provided the interest shall be regularly paid as aforesaid and upon the security aforesaid. 2. The mortgage shall contain covenants by the borrower for payment of the principal money and interest, and such other covenants, powers and provisions as the lenders shall reasonably require for effectually securing the repayment of the same respectively. The mortgage shall also Insurance. contain a covenant on the part of the borrower to insure and keep insured all buildings in the Fire Office, but the present policies are to be allowed to run out. 3. The estimated selling value of the property shall be Valuation of ascertained, and reported on by a competent surveyor to be security. appointed on behalf of the said society, at the expense of the borrower, and the advance shall be made only in the event of such surveyor reporting that the aggregate selling value of (a) Other agreements for loans will be found in a subsequent volume of this work, sub. tit. MORTGAGES. This agreement not Stamp. being accompanied by a deposit of deeds only requires a 6d. stamp. See stat. 33 & 34 Vict. c. 97, s. 105, and schedule. XXXIX. Agreement for a Loan. Delivery of abstracts. Expenses of investigation of title. Costs, in case loan should or required. the property is at least the amount so estimated as aforesaid by the borrower, that is to say, £. PROVIDED that in the event of the surveyor reporting that the property is not worth the estimated value aforesaid, the charges of the said surveyor to be paid by the borrower shall not exceed the sum of £ ; and in the event of the report being favourable, and the advance being completed, the charges of the said surveyor shall not exceed the sum of £ 4. The borrower shall forthwith deliver to the solicitor of the said society abstracts of title to the several properties, and shall produce evidence of the same to the satisfaction of the counsel of the lenders. 5. The expenses of and preparatory to this agreement, and of such examination and verification, together with counsel's fees and incidental expenses, shall be borne by the borrower, together with the costs of the mortgage or mortgages, and shall be deducted from the amount to be advanced. 6. In the event of the report of the surveyor not being not be made, favourable, or if from any other cause whatever, not being the wilful default of the lenders, the advance should not be made or required, the borrower will pay to the said society all the reasonable costs and expenses of their solicitor in reference thereto to the date of the negotiations being completely broken off. AS WITNESS, &c. THE SCHEDULE ABOVE REFERRED TO. Parties. Recitals. XL. AGREEMENT for the MANUFACTURE of SALT. AN AGREEMENT made the day of- -, 18-, BETWEEN [owner], of &c. (hereinafter called the owner), of the one part, and [manufacturers], of &c. (hereinafter called the manufacturers), of the other part. WHEREAS the owner is possessed of certain salt works, situate at -, in the county of for the residue of a certain term of years therein granted to the owner, by a lease dated &c., and made &c., of which term years were unexpired on the day of |