shall think fit; And also in the meantime, till such sale, do and shall apply the rents and income of the said lands and tenements to be so purchased, in the same manner, and for the benefit of the same persons, and in the same proportions, as the interest of the money to be invested in such purchases of the said lands and tenements respectively would have been applicable in case such purchases had not been made; And in all other respects do and shall stand and be seised of or interested in the lands and tenements to be purchased from time to time as aforesaid, upon or subject to the same trusts as if the said lands and hereditaments were personal estate; and so and in such manner, that on a sale of the same lands and tenements, or any of them, the person or persons who shall have become the purchaser or purchasers of the same shall not be under any obligation to see to the application of the purchase-money, or be answerable or accountable for the misapplication or non-application of the same.

LXXII. And further, that the said A. B. shall stand and be possessed of and interested in the within-mentioned bond of the said E. F., and of the principal sum of £thereby secured, and now vested in him by survivorship; Upon trust that when the said principal sum of £ shall be called in and paid into the hands of the said A. B., his executors, administrators, and assigns, he or they shall and will lay out and invest the same, at interest, with the consent and approbation of the said G. H., and I. his wife, or of the survivor of them, if living; and if dead, then with the consent of the said C. D., or such other trustee or trustees as shall be appointed in his place in case of his death, in the purchase of a competent share or competent shares of the parliamentary stocks or public funds of Great Britain, or at interest upon government or real securities in England, in the names of them the said A. B. and C. D., or of such other person or persons as shall be the trustee or trustees for the purposes aforesaid, upon such and the same trusts, intents, and purposes, and with, under, and subject to such and the same powers, provisoes, agreements, and declarations as by the within-written indenture are expressed or de

To invest money

secured on bond,

and stand pos

sessed thereof, upon the trusts

of the within

written inden

ture.

When money is

in the hands of

intended to be invested on

mortgage.

interest thereof.

LXXIII. And it is hereby agreed and declared between trustees, and is and by the parties to these presents, that the said A. B. and C. D., their executors, administrators, and assigns, shall stand and be possessed of and interested in the sum of £, now in the hands of the said A. B. and C. D., as hereinbefore is mentioned, and the security on which the same is intended to be invested as aforesaid, and the interest thereof, Upon the trusts, and for the ends, intents, and purposes, and with, under, and subject to the powers, provisoes, declarations, and agreements, upon, for, with, under, and subject to which the same sum, security, and interest are or ought to be held under or by virtue of the said within-written indenture. (Vide Art. II.).

LXXIV. And it is hereby agreed and declared between and by the parties to these presents, that the messuages and other hereditaments hereby limited, appointed, disposed of, conveyed, granted, bargained, sold, aliened, released, and confirmed unto and to the use of the said A. B. and C. D., their heirs and assigns, as hereinbefore is mentioned, are so limited, appointed, disposed of, conveyed, granted, bargained, sold, aliened, released, and confirmed unto and to the use of the said A. B. and C. D., their heirs and assigns, Upon this special trust and confidence, that they the said A. B. and C. D. do and shall, immediately upon or after the sealing and delivery of these presents, release and assure or convey the same to such and so many of the uses, trusts, provisoes, limitations, and restrictions, by the said hereinbefore in part recited act of the year of his Majesty King limited or declared of or concerning the castle of A., and the other estates thereby entailed, as are now subsisting undetermined and capable of taking effect.

intents and purposes,

LXXV. Do and shall, from time to time, when and as he or they shall think fit, and it shall be in his or their power,

obtain a renewal or renewals of the term or terms in the said leasehold premises, and for that purpose do and shall, from time to time, borrow and take up at interest, on the mortgage or security of the said leasehold premises respectively, such sum and sums of money as shall be sufficient to discharge the fines, fees, and expenses of and attending such renewal or renewals, and making such mortgage or mortgages as aforesaid; and do and shall apply the money to be taken up at interest as aforesaid accordingly; And do and shall from time to time receive the rents and annual income of the said leasehold premises, and in the first place, and from time to time, do and shall pay and discharge the sum and sums of money which shall be taken up at interest as aforesaid (a); and afterwards and subject to the payment thereof (b) do and shall &c.

LXXVI. In trust from time to time to renew the leases thereof respectively, when and as any of the persons on whose deaths the leases made or granted thereof, or to be made or granted thereof, are or shall be determinable, shall depart this life, provided such renewals can be obtained upon such terms as, in the opinion of the trustee or trustees for the time being, shall be reasonable; and if any such renewal shall be made in the lifetime of the said A. B., do and shall insert the name of the said A. B. in such renewed lease as one of the lives, and do and shall, for the purpose of making such renewal or renewals, surrender, or join or concur in surrendering the then subsisting lease of the premises of which such renewal is to be obtained; And for the purpose of raising and paying the fines, fees, and expenses of such renewal, and interest for the same, do and shall make one or more mortgage or mortgages of the premises of which renewal shall be obtained, and do and shall keep down the

(a) Or: :-

"And reduce the principal at the rate of one-seventh part in each year from each renewal respectively."

(b) Or:

"Payment of such interest and reduction of the principal."

268

Trusts to invest a yearly sum and receive the

interest, and in

vest same and vary the securities (short form) as an accumulating fund, and stand

possessed thereof upon trust

to renew leases, pay fines, sur

a similar fund for every subsequent renewal, with covenant to answer deficiency, and power to trustees in a certain

interest of such mortgage or mortgages, and pay the rent of the said leasehold premises out of the rents, income, and profits of the same leasehold premises respectively; And, subject to the trusts hereinbefore declared, do and shall stand and be possessed of the said leasehold messuages, lands, tenements, and premises, for the several residues of the several terms for which the same are hereby granted, and also for the several terms which shall be obtained on any such renewal or renewals; In trust, &c.

LXXVII. And it is hereby declared and agreed by and between all the said parties to these presents, that they the said A. B., C. D., and E. F., and the survivor of them, his executors, administrators, or assigns, do and shall, during the continuance of the trusts hereinbefore declared, lay out and invest the said annual sum of £, when and as they or he shall receive the same, in their or his names or name, in the purchase of parliamentary stocks or public funds of Great Britain, or at interest upon government or real serender, &c., and curities in England, and from time to time alter, vary, and to appropriate transpose the said stocks, funds, and securities, as they or he shall think reasonable, and receive the interest, dividends, and annual produce thereof, and lay out and invest the same in their or his names or name, in the purchase of or upon stocks, funds, and securities of the like nature, and alter, vary, and transpose the same as they or he shall think reasonable; To the intent and so that the said annual sum, stocks, funds, and securities, and the interest, dividends, and annual produce thereof, and the resulting income and proceeds thereof respectively, may, during the continuance of the trusts hereby created of or concerning the said leasehold premises, accumulate in the nature of compound interest; And upon this further trust, that the said A. B., C. D., and E. F., their executors and administrators, shall stand and be possessed of and interested in the said annual sum, stocks, funds, securities, interest, dividends, annual produce, and the resulting income and proceeds thereof, and the accumulations thereof respectively, Upon trust that the said A. B., C. D., and E. F., and the survivors and survivor of them, and the executors, administrators, and assigns of such sur

event by mortgage, or out of

rents, to raise money for renewal, &c.

vivor, do and shall, by, with, and out of the same, at such time or times, in such manner and upon such terms as they or he shall think reasonable, renew the subsisting lease for the time being of the said leasehold premises in their or his names or name, and pay the fines, fees, and other expenses incident to such renewal or renewals, so that the said leasehold premises may, during the continuance of the trusts hereby created of and concerning the same, as far as the nature of the circumstances will admit, be held by the said A. B., C. D., and E. F., their executors, administrators, and assigns, for a term of fourteen years at the least. And it is hereby further agreed by and between the parties to these presents, that, for the purpose of obtaining such renewal or renewals, it shall and may be lawful to and for the said A. B., C. D., and E. F., and the survivor and survivors of them, and the executors, administrators, and assigns of such survivor, from time to time, to surrender or join or concur in surrendering the subsisting lease for the time being of the said leasehold premises, and all the estate, right, title, and interest of them the said A. B., C. D., and E. F., and the survivors and survivor of them, and the executors, administrators, and assigns of such survivor, of, in, and to the same. And it is hereby further agreed and declared between and by the parties aforesaid, that, from and after each such renewal as aforesaid, the said A. B., C. D., and E. F., their executors, administrators, and assigns, shall stand and be possessed of and interested in such part or parts of the said annual sum of £, and the stocks, funds, and securities whereupon the same shall be laid out and invested, and the interest, dividends, and annual produce thereof, and the resulting income and proceeds thereof respectively, and the accumulations thereof (if any) as shall then remain after or not be applied upon or for answering the trusts and purposes aforesaid, In trust for the said G. H., his executors, administrators, and assigns; and after every such renewal, the said trustees or trustee shall begin again to set apart and lay out the said annual sum of £, and the interest thereof, in manner aforesaid, in order to create a fund for the subsequent renewal of the said leasehold premises. And the said G. H. doth for himself, his heirs, execu