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ASSIGNMENTS.

vouchers.

policy of insurance hereinbefore mentioned or intended to be assigned shall be within one month of expiring renew the same, or other- Policy (fire). wise again insure or cause to be insured the said messuages or tenements, buildings, [goods, wares, merchandize,] and premises, with the same or some other respectable office for insurance against fire, to be approved of by the said (mortgagee), his executors, administrators, or assigns, in the sum of £ at the least, for one other term or period of years, to be computed from the expiration of the said now or then existing policy, so and in such manner, that the messuages or tenements and buildings mentioned or intended to be by the said indenture assigned, and every of them, shall and may at all times be well and effectually kept insured in the said sum of £ at the least; And shall and will from time And produce to time, at the reasonable request of the said (mortgagee), his executors, administrators, or assigns, produce and shew forth unto him and them the receipt and receipts, or other acquittances, vouchers or documents, for such sum or sums of money as he the said (mortgagor), his executors or administrators, shall have paid for effecting any such assurance. AND further, that he the said Will assign new (mortgagor), his executors or administrators, shall and will at the re- policy. quest in writing, under the hand of the said (mortgagee), his executors, administrators, or assigns, but at the cost and expense of him the said (mortgagor), his executors or administrators, well and effectually assign and make over such renewed or fresh policy or policies, and all benefit of the same, unto the said (mortgagee), his executors, administrators, or assigns, for the better securing the said sum of £ and interest, in the manner aforesaid, and according to the true intent and meaning of these presents. And in the mean time and until such assignment shall be made, the said policy of insurance, and all benefit and advantage to be had or derived therefrom, shall be and continue in trust for the said (mortgagee), his executors, administrators, and assigns, for the intents and purposes aforesaid. PROVIDED always, and it is hereby further declared and In default, mortagreed by and between the said parties, and particularly by him the gagee may insaid (mortgagor), that in case he the said (mortgagor), his executors or administrators, shall at any time refuse, decline, or neglect to insure or keep insured the said messuages or tenements, [goods, wares, merchandize,] and premises, or any part thereof, or to produce and show forth the receipts or other acquittances, vouchers, or documents for the same, it shall be lawful for the said (mortgagee), his executors, administrators, or assigns, to insure or cause to be insured the said premises in the said sum of L in the names of them

sure.

ASSIGNMENTS,

Sums paid by mortgagee to be

premises.

Insurance

money to be ape plied in discharge of mortgage.

the said (mortgagor) and (mortgagee), their respective executors, Policy (fire). administrators, or assigns, and from time to time to keep the same insured, either from year to year, or for any longer period than a year, at his or their pleasure or discretion. AND it is hereby declared and a charge on the agreed, that the sum or sums which shall by him or them at any time or times be advanced or paid for or in respect of such insurance or insurances (not exceeding in the whole the sum of L ), together with interest for the same after the rate of £5 per cent. per annum, shall be chargeable upon the premises hereby assigned, as or by way of a further charge thereupon, and the said premises, or any part thereof, shall not be redeemed or redeemable until full payment and satisfaction shall be made, as well of the sum or sums which shall have been so advanced and paid for on account of such insurance or insurances, together with interest for the same after the rate aforesaid, as of the said sum of £ and interest. AND further, that in case the said messuages or tenements, and premises so insured, or any part thereof, shall be destroyed or damaged by fire, all and every the sum and sums of money which shall be received upon or by virtue of the said policy or policies, shall be laid out and expended in substantially rebuilding or repairing the said messuages and premises, or such parts thereof, as shall be destroyed or damaged, unless the same shall be paid down by the said insurance office or company, and then and in such case the same or any part thereof shall be so laid out and expended, or be taken and received by the said (mortgagee), his executors, administrators, and assigns (at his and their option and election), in or for payment and discharge of the said sum of £ and interest, and such other sum or sums as shall be then chargeable upon the said premises, or otherwise due or owing to him or them under or by virtue of these presents. AND, &c. (add power of attorney for the (mortgagee) to receive the money (1), adding) and the said (mortgagor) doth hereby declare and agree that the receipt of the said (mortgagee) for all and every or any sum or sums which shall at any time be due, payable, or paid, upon or by virtue or in respect of the said policy or of the insurance thereby effected, shall be a good, sufficient, and absolute discharge to the said company or office and person or persons paying the same, without the said company or office or person or persons being in anywise answerable for or liable to see to the application thereof or any part thereof, or obligated to enquire or know whether

Power of attorgagee to receive

ney for mort

insurance mo

ney.

(1) See post, p. 525.

the said mortgage debt or any part thereof or any interest thereupon be then due and in arrear or not; so nevertheless that the said in part recited indenture be then in the hands of the said (mortgagee), his heirs, executors, administrators, or assigns [if there be a power of sale in the mortgage deed, a covenant may be inserted, that no sale shall be made until after a given period (1)].

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ASSIGNMENTS.

Policy (fire).

trusts.

Covenant by

grantor to keep policy on foot."

[If the assignment be upon trusts, as in trust for an annuitant, Assignment on be declared to be] UPON the trusts, and to and for the ends and purposes hereinafter expressed concerning the same (2), adding, And the said (grantor) doth hereby for himself, his heirs, executors, and administrators, covenant, promise, and agree with and to the said (grantee) and (annuitant's trustee), and their respective executors, administrators, and assigns, that he the said (grantor) his heirs, executors, or administrators, shall and will from time to time during the continuance of the said annuity, yearly rentcharge, or annual sum of £ well and truly pay or cause to be paid to the said insurance office or company all such annual and other premium or premiums, and other sum or sums of money which shall from time to time or at any time be payable for keeping the said policy on foot, and also shall and will, from time to time, at the request of the said (trustee) and (grantee), or either of them, or their respective executors, administrators, or assigns, produce and shew unto him or them, receipts and sufficient vouchers for all and every such payment or payments. AND also that in case the In default gransaid (grantor), his heirs, executors, or administrators, shall neglect or refuse to make such payment or payments, or to produce such receipts or vouchers as aforesaid, it shall be lawful for the said (grantee) or (trustee) or their respective executors, administrators, or

(1) See post, p. 525.

(2) If the assignment be made to the insurance office itself, the habendum may be,

“TO HAVE AND TO HOLD, receive, take, and enjoy the policy of insurance hereby assigned or intended so to be, and all and every the sum and sums of money at any time or times, and from time to time, to become due upon or by virtue of the same, and all and every other benefit and advantage to be had or derived therefrom, either at law or in equity, unto and by them the said (trustees of the office) their executors, administrators, and assigns, In trust nevertheless, for the said insurance company, and the several proprietors thereof, and to be disposed of from time to time as the directors for the time. being of the same company shall direct."

SUP.-VOL. I.

N N

tee may insure:

Assignment to

the assurance

office.

ASSIGNMENTS.

assigns, at any time or times, to pay such sum or sums of money as Policy (fire). shall be requisite to keep the said messuages, or tenements and buildings, insured from loss or damage by fire, in the said sum of £

Application of insurance mo

ney.

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, and that he the said (grantor), his heirs, executors, or administrators, shall and will from time to time, on demand, well and truly pay, or cause to be paid, unto the said (grantee), his executors, administrators, or assigns, all and every the sum and sums of money which shall be so paid or advanced by him or them, with interest for the same, after the rate of £5 per cent. per annum, from the time or respective times of paying the same; and that in case of default in payment thereof, or of any part thereof, the same shall, to the extent of / be considered a charge and chargeable upon the lands and hereditaments hereby demised, and it shall be lawful for the said (grantee) or (trustee), their respective executors, administrators, and assigns, by all or any of the ways and means hereinbefore given or mentioned for recovering the arrears of the said annuity, yearly rent-charge, or annual sum of £ or other lawful means whatsoever, to levy, raise, and pay the same. AND it is hereby agreed and declared, that in case the said messuages, tenements, or buildings, or any of them, or any part thereof, shall at any time or times during the continuance of the said annuity, yearly rent-charge, or annual sum of £ be burnt down, destroyed, or damaged by fire, then and in such case, and so often as the same shall happen, all such sum and sums of money as shall or may be recovered or received by virtue of any such insurance as aforesaid, shall be laid out and expended in the re-building or repairing (as the case may require) the said messuages and premises, or such part thereof as shall be so burnt down, destroyed, or damaged; or (at the request of the (grantee), his executors, administrators, or assigns, if the same shall be paid down by the said insurance office), after payment thereout of all arrears of the same annuity, yearly rent-charge, or annual sum, and all costs and expenses in respect thereof, shall be invested in the purchase of such Bank or other annuities or on Government Securities as the said (grantee), his executors, administrators, or assigns, shall think fit, in the name or names of a trustee or trustees to be by him or them named, upon or for such or the like trusts, ends, intents, and purposes as are hereinbefore declared or expressed concerning the sum or sums to arise by sale, mortgage, or other disposition of the said heredita ments, under or by virtue of the power or authority contained in the said in part recited indenture in that behalf, or such other trusts, and in such manner and form, as the counsel in the law of the said (grantee), his executors, administrators, and assigns, shall reasonably require

or advise, for the purpose of securing and keeping down the said annuity, yearly rent-charge, or annual sum of £

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at the times
AND the

and in the manner therein appointed for payment thereof.
said (grantor) doth hereby make, constitute, and appoint the said
(grantee), his executors, administrators, and assigns, his true and
lawful attorney and attornies for receiving all and every sum and
sums of money which may at any time or times be payable for
or by virtue of such insurance as aforesaid, with full power to
appoint any other person or persons in his or their place or stead
for that purpose; and doth hereby expressly declare that the re-
ceipt and receipts of the said (grantee), his executors, adminis-
trators, or assigns, or of his or their attorney or attornies, shall
from time to time, and at all times, be a good, sufficient, and effectual
discharge for any sum or sums which shall be payable or paid to him
or them, for or in respect of any such insurance as aforesaid, which
said power or authority last hereinbefore given to the said (grantee),
his executors, administrators, or assigns, he the said (grantor) shall
not nor will at any time hereafter, during the continuance of the said
annuity, yearly rent-charge, or annual sum of L

,

or the subsistence of any arrears thereof, revoke or in any manner cancel or make void without the consent in writing of him the said (grantee), his executors, administrators, or assigns, in that behalf. There may here be added, if so agreed (1), AND the said (grantee) DoтH hereby also covenant and agree with the said (grantor) in manner aforesaid, that he the said (grantee), his executors, administrators, or assigns, shall not nor will without the direction or consent of the said (grantor), sell, mortgage, or otherwise dispose of the policy of insurance hereinbefore assigned, or any interest therein, unless and until the said annuity or yearly sum hereby granted shall be twelve calendar months in arrear; nor in case of the sale thereof (which shall be by public auction only, and not by private contract) until one calendar month's notice in writing of an intended sale thereof shall have been given to or left at the then or last place of abode of the said (grantor); and further that in case of any such sale, mortgage, or other disposition thereof, he the said (grantee), his executors, administrators, and assigns, shall and will stand possessed of and interested in the money to be produced by or raised upon the same; (after payment of all arrears of the said annuity or yearly sum, and all costs, charges, and expenses attending any such sale,

(1) See a different form, post. p. 580.

ASSIGNMENTS.

Policy (fire). Letter of attor insurance mo

ney to receive

ney.

Covenant by trustee not to

sell the policy, arrears of an

till 12 months'

nuity.

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