and Covenant, with Two Sureties, Defeasance, &c. and any two and each of them, have and has become VII. Grant jointly and severally bound unto the said [grantee], in the sum of [double the purchase-money]: With a condition thereunder written for making void the same, if the said [grantor] and [sureties], or any or one of them, or the heirs, executors, or administrators of them or any or one of them, should pay unto the said [grantee], his executors, administrators, or assigns, during the life of him the said [grantor], one annuity or yearly sum of £- clear of all deductions, by equal quarterly payments, on the day of day of next ensuing the date of the said bond or obliga tion [And also if the heirs, executors, or administrators Proportional of the said [grantor], or the said [sureties], or either of part. them, or the heirs, executors, or administrators of them or either of them, should pay unto the said [grantee], his executors, administrators, or assigns, in case the said [grantor] should happen to depart this life on any day on which any quarterly payment of the said annuity should become due, the whole of such quarterly payment: And if on any other day, a proportional part of the said annuity up to the day of the death of the said [grantor].] NOW THIS INDEN- Testatum. TURE WITNESSETH, that, in further pursuance of the said agreement, and in consideration of the sum of £ to one. by the said [grantee] paid to the said [grantor], upon the execution of these presents (the receipt whereof the said [grantor] hereby acknowledges), THEY the said [grantor] Grant of anand [sureties] do, and each and every of them doth, grant nuity by three unto the said [grantee], for the life of him the said [grantor], AN annuity or yearly sum of £, [To HOLD, re- Habendum (ƒ). ceive, and take the same, henceforth, during the life of him the said [grantor],] to be paid unto the said [grantee] by four equal quarterly payments, on the the day of &c., the first payment thereof to be made on day of [Together with a proportional part of the said annuity Proportional for the time which shall elapse between the last of the said part. (f) The habendum, though usually inserted in a grant of a personal annuity, is a formal and not a necessary part of the deed, and may be omitted. and Covenant, with Two Sureties, Defeasance, &c. Joint and nant to pay annuity from three to one. VII. Grant days of payment preceding the day of the decease of the said [grantor], to the day of such his decease,] as in the condition to the said bond is mentioned. AND THE SAID (g) [grantor] and [sureties], and any two of them, separately and several cove apart from the other of them; and each of them separately and apart from the others and other of them, severally covenant with the said [grantee], that they the said [grantor] and [sureties], or some or one of them, or the heirs, executors, or administrators of them, or some or one of them, will pay unto the said [grantee], during the life of the said [grantor], the said annuity or yearly sum of £- on the days and times, and in manner aforesaid. AND THE SAID [grantee] covenants with the said [grantor] and [sureties], and each and every of them, that in case the said [grantor] and [sureties], any or one of them, or the heirs, executors, or administrators of either of them the said [sureties], should be desirous of repurchasing the said annuity; and of such intention should give months' notice in writing Power to repurchase, where there are two sure ties. unto the said [grantee], his executors, administrators, or assigns, then he the said [grantee], his executors, administrators, or assigns, upon the expiration of the said months, for which such notice shall be so given as aforesaid, on receiving full payment of the said annuity, and all arrears thereof, up to and including the day of repurchasProportional ing the same, [Together with a proportional part of the same part. annuity in case such repurchase should be made on any day than one of the said quarterly days of payment, for the time which shall have elapsed from the then last preceding quarterly day of payment, up to and including the day of such repurchase ;] And all and every sums and sum of money, if any, which shall be then due for or on account of any expenses occasioned by the non-payment thereof, accept and take the sum of £- in full for the repurchase of the Covenant to pay annuity from two to one jointly and severally. (g) If there be only one surety, the covenant may be"AND THE SAID [grantor] and [surety] do, and each of them doth hereby, covenant with the said [grantee], that they the said [grantor] and [surety], or one of them, or the heirs, executors, or administrators of them or one of them, will," &c., ut supra. and Covenant, with Two feasance, &c. said annuity; And the said [grantee], his executors, adminis- VII. Grant trators, or assigns, will or shall thereupon, at the cost of the person or persons requiring the same, release, or otherwise Sureties, Dedispose of the same annuity, and all the securities for the same, as the person or persons making such repurchase shall in that behalf direct or appoint. But if such repurchase If repurchase shall be made by the said [sureties], or either of them, or by ties, annuity made by surethe heirs, executors, or administrators of them or either of to continue them, the said annuity shall continue for the benefit of the benefit. person or persons who shall repurchase the same; and the same, and the several securities for the same, shall be assigned, or otherwise assured by the said [grantee], his executors, administrators, or assigns, unto the person or persons repurchasing the same, or otherwise as he, she, or they shall direct or appoint; Subject to the like right of the said [grantor] to repurchase the same. IN WITNESS, &c. for their VIII. GRANT of ADDITIONAL ANNUITY for the THIS INDENTURE, made &c., BETWEEN the [grantor], Parties. of &c., of the one part, and [grantee], of &c., of the other part, and supplemental (h) to an indenture dated, &c. WHEREAS the said [grantee] has agreed with the said [grantor] Recital of for the purchase of an annuity or yearly sum of £ payable during the lives of [nominees] named in the principal additional indenture, and during the life of the longest liver of them, (h) As to supplemental deeds, see post, p. 778. contract for purchasing annuity; VIII. Grant at the price of £ of Additional AND WHEREAS upon the treaty Annuity by for the purchase of the said annuity it was agreed that the Indorsement. same should be charged upon the pieces or parcels of ground, to be charged messuages and lands (i) described in the principal indenon premises ture. NOW THIS INDENTURE WITNESSETH, that in consideration of the sum of £[grantee] to the said [grantor], on the charged with original annuity; and further secured by judgment on original war rant of attor ney. Testatum. paid by the said day of now last past (the receipt whereof the said [grantor] hereby acknowledges); HE the said [grantor] by these presents grants to the said [grantee] an annuity or yearly sum of £ -, to be paid during the lives of the said [nominees], and during the life of the longest liver of them; and to be charged upon the pieces or parcels of ground, messuages, or Grant of addi- tenements, and premises, described in the principal indenture; and to be paid to the said [grantee], his executors, administrators, and assigns, by two equal half-yearly payments in the year, on the Consideration previously paid. tional an nuity; charged on premises within-men tioned; and payable half-yearly. Habendum. Covenant to pay annuity. The word hereditament whether properly applied to a chattel interest. day of the first payment to be next; [Together with a proportional part of the said annuity, up to and including the day of the death of the longest liver of them the said [nominees]; such proportional part to be paid and payable immediately after the decease of such longest liver.] To HOLD, receive, and take the said annuity of £ and every part thereof, unto the said [grantee], for and during the lives of the said [nominees], and during the life of the longest liver of them, free from all deductions. AND THE SAID [grantor] covenants with the said [grantee], to pay to him during the lives of the said [nominees], and during the life of the longest liver of them, the said annuity of £on the days or times hereby appointed for payment thereof, without any deduction. AND IT IS HEREBY DECLARED AND (i) The property being leasehold, the word hereditaments is not technically applicable; because the word hereditament, in the most strict and proper sense, is applied only when the estate therein is of freehold or inheritance, and which not being devised descends to the heir: Noy's Tenures, 54, 6th ed. 356; Cowel's Interpreter, tit. HEREDITAMENTS. Sed vide contrà, Prest. Shepp. Touchst. 74. The word hereditaments, however, is very usually applied to leasehold parcels, as denoting the nature of the property, and not the estate in it. VIII. Grant of Additional Annuity by Indorsement. Trustees to hold premises upon trust to secure addi tional an same powers for securing additional annuity as for securing nuity. AGREED, that the trustees and trustee for the time being acting in the trusts of the principal indenture, shall stand and be possessed of the pieces or parcels of ground, messuages, and premises within mentioned and described, with their and every of their appurtenances, as well for the purpose of securing the payment of the annuity or yearly sum of £ hereby granted, as for securing the payment of the nuity; annuity or yearly sum of £- — mentioned in the principal indenture. AND IT IS ALSO AGREED, that for the purpose and to have of securing the payment of the annuity hereby granted, the trustees and trustee for the time being acting in the trusts of the principal indenture, shall in all respects have such and the same powers and authorities as are given to them by the same original anindenture, for the purpose of securing the therein-mentioned annuity. AND THE SAID [grantor], hereby covenants with the Covenant by said [grantee], that in case any sale should be made of the grantor to join in conpieces or parcels of ground, messuages and premises therein veyance to purchasers, mentioned, or of any part thereof, for the purpose of pro- and enter into viding for the payment of the annuity hereby granted, then, usual coveand in such case, he the said [grantor], his executors, adminis- them. trators or assigns, will, if requested, join and concur in the making thereof, and in executing the assignments and assurances of the premises which may be so sold to the purchaser or purchasers thereof, and do all other reasonable acts for confirming such sale or sales, and further assurance of the premises sold. AND THE SAID [grantor] hereby further cove- Covenant to nants with the said [grantee], that, so long as the annuity ings from fire hereby granted shall remain payable, he the said [grantor], his in an addiheirs, executors, or administrators will insure, and keep insured, in the name or names of the said [grantee], his executors, administrators, or assigns (k), the messuages or tenements, and buildings described in the principal indenture, in the sum of £- — over and above the sum of £- -, in which the same premises are therein agreed to be insured as therein is mentioned: AND will pay all sums which may from time to time and to assign policies to become payable for keeping on foot such additional insurance grantee. "nants with insure build tional sum; (k) To prevent the trouble and expense of assigning the policy Insurance in of insurance, it seems to be advisable for the grantor to covenant grantee's to effect the insurance in the name of the grantee, his executors, administrators, and assigns, as in the text. name. |