as money, and be subject in all respects to the same or the like trusts, powers, provisoes, and agreements, as the money to be laid out in the purchase of the said messuages, lands, tenements, and hereditaments to be purchased as aforesaid shall be subject to at the time when such purchase shall be made, anything hereinbefore contained to the contrary notwithstanding (a). And it is hereby declared and agreed by and between the parties to these presents, and for themselves respectively, and their respective heirs, executors, and administrators, they hereby severally direct and appoint, that the person or persons respectively who shall become the purchaser or purchasers of the said messuages, lands, tenements, and hereditaments, which from time to time shall be purchased and taken in exchange as aforesaid, his, her, or their heirs, executors, or administrators, shall not be obliged or required to see the application of the money to be advanced or paid by him, her, or them respectively, as the consideration of such purchase or purchases, or be answerable or accountable for the misapplication or nonapplication of the same money, or any part thereof, after the same shall have been paid to or to the order of the said A. B. and C. D., or the survivor of them, his heirs, executors, administrators, or assigns; and that all receipts which shall be given by the said A. B. and C. D., or the survivor of them, his heirs, executors, administrators, or assigns, for such purchase monies, or any part thereof, shall be good, valid, and sufficient acquittances and discharges for the sum or sums of money which therein or thereby respectively shall be acknowledged or expressed to be or to have been received; and that the person or persons respectively who shall take any messuages, lands, tenements,

or hereditaments, by way or in the nature of exchange, under this present power, shall not be obliged to see the

(a) "Provided always, and during the lifetime of the said E. F., the said several powers hereinbefore contained relative to the partition, sale, and exchange of the said messuages, &c. shall not be exercised or exercisable as to the said sum of £ or the stocks, &c. in or upon which &c., or the messuages, &c. to be purchased therewith, without the consent in writing of the said E. F."

messuages, lands, tenements, and hereditaments to be given by way or in the nature of exchange, settled or conveyed upon the trusts hereinbefore expressed and declared, or directed to be declared, of and concerning the same, or be answerable or accountable for any subsequent sale or disposition of the messuages, lands, tenements, and hereditaments to be given by way or in the nature of exchange as aforesaid, anything hereinbefore contained to the contrary thereof in any wise notwithstanding. And it is hereby further declared and agreed by and between the parties to these presents, that in the meantime, and from time to time, until the messuages, lands, tenements, and hereditaments to be purchased and taken in exchange from time to time as aforesaid shall be sold and converted into money, it shall or may be lawful to and for the said A. B. and C. D., or the survivor of them, his heirs, executors, or administrators, with the consent of (a) the said E. F. and G. H., and during their joint lives, and after the decease of (b) one of them, then with the consent of the survivor of them, and after the decease of both of them, then in the discretion and of the proper authority of them the said A. B. and C. D., or of the survivor of them, his heirs, executors, or administrators, to demise or lease all or any part of the said messuages, lands, tenements, and hereditaments respectively to be purchased and taken by way or in the nature of exchange, from time to time, under the powers hereinbefore contained, for any term or number of years, determinable before or at the end of twenty-one years from the time at which such lease or leases respectively shall be made or granted, so as upon every such lease the best or most improved rent which can be reasonably had or gotten shall be reserved, payable half-yearly or oftener, and so as the lessee or lessees shall enter into all usual covenants for payment of the said rents, and the management

(a) Or,

"the

person or persons whose consent is hereby made necessary to such purchases and exchanges as aforesaid."

(b) Or,—

"all the same persons, then &c."

and cultivation of the premises, and so as there be contained in every such lease or demise a clause giving a right of reentry when the said rent shall be behind or in arrear by the space of fourteen days after any one of the days to be appointed for the payment of the said rents respectively, and so as no lessee or lessees shall be made dispunishable for waste by any express words; and so as every such lease or demise shall be made by indenture or indentures, to be executed by the said A. B. and C. D., or the survivor of them, or the heirs, executors, administrators, or assigns of such survivor; and so as every such lessee or lessees do and shall execute a counterpart of the indenture or indentures of lease or demise of the messuages, lands, tenements, and hereditaments to be granted or demised to him, her, or them respectively (a).

(a)" And further, that in making such purchases as aforesaid preference shall be given, if the said N. D. and M. S. his wife, R. G. and M. S. his wife, or the survivors or survivor of them shall so direct, to the purchase of all or any part of the estates situate in the county of N., late of the said R. T., which have been settled, or are intended and agreed to be settled as aforesaid, and which shall be offered or ready for sale under or by virtue of and pursuant to all or any of the powers contained in the settlement made or to be made thereof, and that in advancing money on mortgages preference shall be given, if the said N. D. and M. S. his wife, R. G. and M. S. his wife, or the survivors or survivor of them shall so direct, to a mortgage or mortgages of all or any part of the estates situate in the county of N., late of the said R. F., which have been settled, or are intended and agreed to be settled as aforesaid, and which shall be offered or ready to be mortgaged under or by virtue of and pursuant to all or any of the powers contained in the settlement made or to be made thereof; and further, that the said N. D. and M. S. his wife, and R. G. and M. S. his wife, and the survivors and survivor of them, shall be entitled and have a right to require that the power of sale hereinbefore contained shall be exercised for the purpose of raising money to be

To lay out trust monies in land. (Short form).

LXXXIX. Provided always, and it is hereby declared, that it shall be lawful for the said trustees and trustee, during the joint lives of the said A. B. and C. D., or the life of the survivor of them, with their, his, or her consent in writing, and after the decease of such survivor, at the discretion of the said trustees or trustee, to call in and convert into money all or any of the said trust-monies, stocks, funds, and securities, and to lay out the same or any part thereof in the purchase of any lands or hereditaments situate in England, either in fee-simple or held for a long term of not less than eighty years; and with such consent as aforesaid, and after the decease of the survivor of them the said A. B. and C. D., as and when the said trustees or trustee for the time being shall in their or his discretion think fit, re-sell the same lands or hereditaments, which shall in the meantime be considered as personal estate, and the rents and profits thereof to be applied accordingly, in the same manner as the interest for the said trust-monies would be applicable under the trusts aforesaid; and the money arising by such re-sale or

applied in making such purchases, or taking a mortgage or mortgages of all or any part of the estates late of the said R. F., as far as any sales or mortgages shall then be in contemplation or ready to be made, and the money then held upon the trusts of this settlement will not extend to effect such purchase or mortgages; it being the true intent and meaning of the parties to these presents to preserve the estates late of the said R. F., and which have been or are to be settled as aforesaid, entire, as far as circumstances will admit; but the parts thereof to be purchased are to be settled to the uses of this settlement, and the money to be advanced on mortgage is to be subject to be repaid and invested in the purchase of other estates, to be settled according to the direction herein before contained in that behalf; and that for all the purposes of the powers and provisions hereinbefore contained the said M. S. G. shall be and shall be deemed, taken, and considered to be well designated as a tenant for life of the said manor and hereditaments hereinbefore settled or expressed and intended so to be."

re-sales shall be invested upon such stocks, funds, and securities, which may be altered as hereinbefore is mentioned.

XC. Provided also, that it shall and may be lawful to and Another form. for the said trustees or trustee for the time being acting in the execution of these presents, from time to time, with the consent in writing of the said A. B. and C. D., or the survivor of them, during their, his, or her life, to lay out all or any part of the monies which shall be vested in them by virtue of these presents, in the purchase of freehold or copyhold messuages, lands, or tenements of inheritance situate in England or Wales; and also with such consent as aforesaid, to lay out any part of the said trust-monies, not exceeding in the whole the sum of £, in the purchase of any leasehold estates in England or Wales; and again from time to time, with such consent as aforesaid, to sell and dispose of the said freehold, copyhold, or leasehold messuages, lands, tenements, and estates. And it is hereby agreed and declared, that the said messuages, lands, tenements, and estates so to be purchased as aforesaid, shall be considered as money or personal estate; and that the same, and the money to arise by sale thereof, shall be upon such and the same trusts as are hereinbefore declared or directed of or concerning the trust-monies which shall be so laid out or invested.

To invest trustglish or foreign stocks, or upon real securities,

monies in En

or in the purchase of land,

and hold the

same upon the original trusts;

XCI. Provided always, and it is hereby agreed and declared, that it shall and may be lawful to and for the trustees or trustee for the time being of these presents, either to continue the trust-monies hereinbefore assigned in their respective present state of investment, or with the consent of the said A. B. and C. D., or the survivor of them, during their, his, or her life, and after the decease of such survivor, at the discretion of the trustees or trustee, to call in, sell, transfer, or dispose of the same respectively, for such price or prices as they or he shall think fit; and it is hereby declared, that they or he do and shall lay out and invest the money to arise by or from any such sale or sales, in their or his names or name, in any English or foreign stocks or funds, or at in- powers into terest upon government or real securities in England or

with powers to sell, assign, underlease, pull

down, and rebuild premises, lease, and to

and to renew

raise money for carrying the

effect.