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.

, 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 L 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 hereditaments, 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

at the times
AND the

ASSIGNMENTS.

Policy (fire).

Letter of attor

ney to receive

or advise, for the purpose of securing and keeping down the said annuity, yearly rent-charge, or annual sum of £ and in the manner therein appointed for payment thereof. said (grantor) doth hereby make, constitute, and appoint the said insurance mo(grantee), his executors, administrators, and assigns, his true and ney. 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 receipt and receipts of the said (grantee), his executors, administrators, 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 herein before 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 £ 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,

Covenant by trustee not to sell the policy, arrears of an

till 12 months'

nuity.

ASSIGNMENTS.

mortgage, or other disposition, or occasioned by the said annuity Policy (fire). being in arrear), and of all other monies to be received for or by virtue thereof in pursuance of these presents in the mean time, in trust for the said (grantor), his executors, administrators, and assigns, subject only to future arrears, if any, of the said annuity, and pay and apply or invest the same in the purchase of 3 per cent. Consolidated Bank Annuities, or upon some other Government Securities, or some other life annuity or annuities, to be holden upon proper trusts to be declared in writing under the hand or hands of the said (grantee), his executors, administrators, or assigns, for keeping down the said arrears. IN WITNESS, &c.

No. CXLVIII.

*An Assignment of a Policy of Assurance on the Life of an

Assurer.

Variations where it is on the life of some other person. Also
where the assignment is absolute, where conditional, and where
upon trust.

THIS INDENTURE (1) made the

day of

in the

year, &c. and in the year of our Lord 18

BETWEEN the

ASSIGNMENTS.

Policy (life).

(assignor) of, &c. of the one part, and the (assignee) of, &c. of the

other. WHEREAS by a certain deed-poll, instrument or policy of Recital of policy. insurance purporting to be under the hands and seals of certain

directors of the

insurance office or company in
day of

bearing date on or about the and numbered

the yearly sum of £

in the year

the said office or company, in consideration of

to be paid by the said (assignor) during his natural life [or during the natural life of A. B. of, &c. as the case may be], insured the payment to the executors, administrators or assigns, of him the said (assignor), of the sum of £

within
calendar months next after his decease [or to him the
said (assignor), his executors, administrators or assigns, within three
calendar months next after the decease of the said A. B.]; AND
WHEREAS, &c. (recite the deed, if any, by which the policy was
agreed to be assigned); by which said indenture it was agreed that
the benefit of the said policy should be assigned to the said (assignee)
as a further security for the payment of the said sum of £

in case of his decease, during the subsistence of the aforesaid trusts
(or as the case may be)]. Now THIS INDENTURE FURTHER WIT-
NESSETH, that in pursuance of the said agreement, HE the said
(assignor) HATH bargained, sold, assigned, transferred and set over,

(1) See ante, p. 519. n. (1) and (2).

ASSIGNMENTS.

Policy (life).

WITNESS. Assignor assigns policy to assignee.

To hold upon trusts, &c.

and by these presents DoтH bargain, sell, assign, transfer and set over unto the said (assignee), his executors, administrators and assigns, ALL that the said in part recited instrument or policy of insurance so granted to or taken out by him the said (assignor), from or with the said office or company, as hereinbefore is mentioned, AND all and every sum or sums of money thereby insured and to become due and payable by virtue thereof, and all other benefit and advantage to be derived or accrue from the same; and all the estate, right, title and interest, property, claim and demand whatsoever, of him the said (assignor) of, in or to the same, and every or any part thereof, and all powers and remedies for recovering the same, TO HAVE AND TO Hold, receive, take and enjoy the said instrument or policy of insurance, sum and sums of money, and all and singular other the premises hereby assigned or otherwise assured, or intended so to be, unto and by him the said (assignee), his executors, administrators and assigns, in as full and beneficial manner, to all intents and purposes, as he the said (assignor) [his executors or administrators] could or might have had, holden or enjoyed the same if these presents had not been made; but nevertheless, upon the same or the like trusts, and for the same or the like ends, intents and purposes, as in or by the said in part recited indenture are declared or expressed concerning the messuages, &c. therein granted and released, or otherwise assured, and the monies to arise by any sale or disposition thereof, or as nearly thereto as circumLetter of attor- stances will admit; AND he the said (assignor) DoтH, by these presents for himself, his executors and administrators, name, constitute and appoint the said (assignee), his executors and administrators, the true and lawful attorney (1) and attornies, irrevocable of him the said (assignor), and of his executors and administrators, and in the name or names of him or them, or otherwise, as may be expedient, to ask, demand, sue for, recover and receive, and sign and give effectual discharges for all and every sum and sums of money which shall or may at any time hereafter become due or payable on or by virtue of the said instrument or policy of insurance, or which may be paid

ney.

Letter of attorney.

(1) Although this power cannot be exercised till after the death of the person whose life is assured, and by such event, if he be the assignor, will be void, yet it is not therefore unavailable, as the policy is saleable to the office during the life of the insurer-and it being the assurer's property, the office must pay the purchase money to him, unless he empower some other person to receive it; and if the party insures the life of another person, the letter of attorney authorizes the office to pay the sum insured upon his death to the assignee.