To sell and exchange free received for (a) or upon equality of exchange (b), as hereinbefore is expressed, shall be applied in manner hereinbefore directed, it shall and may be lawful to and for the (c) said A. B. and C. D., and the survivor of them, and the executors and administrators of such survivor, by and with such consent and approbation as hereinbefore is mentioned, or in his or their discretion as the case may require, to place out such sum or sums of money in the purchase of a competent share or shares of the parliamentary stocks or public funds of Great Britain, or upon government or real securities in England or Wales, in the name or names of the said A. B. and C. D., or the survivor of them, or the executors or administrators of such survivor, and to alter, vary, and transfer the said stocks, funds, and securities, from time to time, as occasion shall require; and that the interest, dividends, and annual income arising from such stocks, funds, or securities, shall go and be paid (d) in manner, and to the persons, and for the intents and purposes, and in the shares and proportions, in, to, or for which the rents and profits of the hereditaments to be purchased therewith would go or be payable or applicable, in case such purchase or purchases and settlement thereof as aforesaid were then actually made. CXX. Provided also, and it is hereby agreed and deholds and copy-clared, between and by the said parties to these presents, holds. (Short that the said A. B. and C. D., and the survivor of them, and form, where the trustees have the heirs and assigns of such survivor, do and shall, and they the legal estate, and he are hereby required (subject to the appointment by and no power of (a) Or, "enfranchisement." (b) Or,- (c) Or, "the said trustee or trustees for the time being of this power." (d) Or, "to the said G. H. if living, during her life, and after her death." way of lease, if any, which shall have been made in exercise revocation is accordingly of the power hereinbefore contained), upon the request in given). writing of the said E. F. for that purpose, to make sale of or to convey in exchange, for or in lieu of any other freehold or copyhold hereditaments, all or any of the freehold and copyhold hereditaments herein before released and covenanted to be surrendered respectively, and the inheritance thereof respectively; and upon any such exchange to receive any money by way of equality of exchange; And it is hereby agreed, that the said A. B. and C. D., and the survivor of them, and the heirs and assigns of such survivor, do and shall lay out, and they and he are hereby expressly required, upon such consent as aforesaid, to lay out and invest the money arising from such sale, or to be paid for equality of exchange as aforesaid, in their or his names or name, in the purchase of freehold or copyhold lands, tenements, or hereditaments; And it is hereby agreed and declared, that the said A. B. and C. D., and the survivor of them, and the heirs and assigns of such survivor, shall stand seised of the lands, tenements, and hereditaments so to be purchased, and also the lands, tenements, and hereditaments so to be received upon any such exchange, upon the trusts and subject to the powers and provisoes of this present settlement, or such of them as shall be subsisting or capable of taking effect; And it is hereby also agreed, that until such purchase shall be made, the said A. B. and C. D., and the survivor of them, and the heirs and assigns of such survivor, do and shall lay out and invest the money arising from such sale or sales or to be received for equality of exchange in their or his names or name, 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, and with the consent in writing of the said E. F., during his life, and after his decease at their or his discretion, to alter, vary, and transpose the same, as to them or him shall seem reasonable, and pay the interest, dividends, and annual produce thereof to the persons who, if such purchases were made, would be entitled to the rents of the lands so to be purchased as aforesaid. To sell and ex change free and copyhold lands. CXXI. Provided also, and it is hereby agreed and de hold, leasehold, clared by and between the said parties hereto, that it shall and may be lawful to and for the said A. B., C. D., and E. F., and the survivors and survivor of them, and the heirs, executors, administrators, and assigns of such survivor respectively, at any time or times, with the consent and approbation of the said G. H. (such consent to be testified by any writing or writings under his hand and seal, and to be attested by two or more credible witnesses), to make sale and dispose of, or convey in exchange for, and in lieu of other messuages or tenements, farms, lands, and hereditaments, to be situate in that part of Great Britain called England, or in the dominion of Wales, the said messuages or tenements, farms, lands, hereditaments, and premises hereinbefore granted and released, bargained, sold, and assigned, and covenanted to be surrendered respectively, or any of them, or any part or parts thereof, to any person or persons, and his, her, and their heirs and assigns respectively, either together or in parcels, for such price and prices in money, or for such equivalent in messuages or tenements, farms, lands, or hereditaments, as to them the said A. B., C. D., and E. F., or the survivors and survivor of them, or the heirs or assigns of such survivor shall seem meet; and upon payment of the money arising by sale of all or any part of the said messuages or tenements, farms, lands, hereditaments, and premises hereinbefore granted and released, bargained, sold, and assigned, and covenanted to be surrendered respectively, to the said A. B., C. D., and E. F., their heirs, executors, administrators, and assigns respectively, the receipt and receipts of them the said A. B., C. D., and E. F., or the survivors or survivor of them, or the heirs, executors, or administrators of such survivor, shall from time to time be a good and sufficient discharge to such purchaser or purchasers for the purchase money, for which the same messuages or tenements, farms, lands, hereditaments, and premises respectively, or any of them, shall be sold, or for so much thereof as in such receipt or receipts shall be expressed or acknowledged to be received, and such purchaser or purchasers, and his, her, or their heirs, executors, administrators, or assigns, shall not afterwards be obliged to see to the application of the same respective purchase monies, or any part thereof, and shall not be answerable or accountable for any loss, misapplication, or nonapplication of the same, or any part thereof; and when all or any part of the said messuage or tenements, lands, hereditaments, and premises hereinbefore granted and released, bargained, sold, and assigned, and covenanted to be surrendered respectively, shall be sold for a valuable consideration in money, and any sale, conveyance, or exchange shall be made thereof and executed to any purchaser or purchasers, or other person or persons in virtue of these presents, and such receipt shall be given for the purchase money as aforesaid, and also when all or any part or parts of the same messuages or tenements, farms, lands, hereditaments, and premises, shall be disposed of or conveyed in exchange, for or in lieu of any other messuages or tenements, farms, lands, and hereditaments, and the fee-simple of such last-mentioned hereditaments shall be well vested in them the said A. B., C. D., and E. F., or the survivors or survivor of them, or his heirs, all and every person and persons to whom any sale, conveyance, and exchange of all or any part or parts of the hereditaments hereinbefore granted and released, bargained, sold, or assigned, or covenanted to be surrendered respectively as aforesaid, shall have been made, and the respective heirs and assigns of such person or persons, shall and may have, hold, and enjoy the hereditaments by them respectively purchased, or had in exchange, freed and absolutely discharged of and from all and every the uses, estates, trusts, limitations, powers, provisoes, declarations, and agreements hereinbefore limited, expressed, and declared of and concerning the same premises respectively; save and except, and subject only to any lease or leases which may have been made of the said premises in virtue of the power hereinbefore contained (a). CXXII. Provided always, and it is hereby directed, declared, and agreed, by and between the parties to these presents, that with the consent and approbation in writing (a) Add the clauses for investing the purchase monies in other purchases, &c. &c. To lease, sell, and exchange, (the trustees having the legal estate), and purchases not to be made without consent of hus band and wife; and survivor of husband and wife to have estate for life in lands received in exchange; and money advanced to be a lien on lands. of the said E. F., and G. H. his intended wife, during their joint lives, or of the survivor of them, during his or her life, and after the death of the survivor of them, then in the discretion and of the proper authority of the trustee or trustees for the time being of these presents, all or any part of the said messuage, lands, and hereditaments hereby released, or otherwise assured or intended so to be; and also all or any of the messuages, lands, and hereditaments to be purchased or received in exchange as hereinafter is mentioned, may be demised or leased by the trustee or trustees for the time being of these presents, for any term or number of years not exceeding twenty-one years from the time of making such lease or leases respectively, and at the best or most improved yearly rent which at the time of making such lease or leases, or entering into the contract for such lease or leases, can or may be reasonably obtained for the hereditaments to be so leased, or shall or may be absolutely sold for an estate in fee-simple for the best price or prices which can be obtained for the same; with full power and authority to and for the trustee or trustees for the time being to give discharges for such money, without any obligation by or on the part of the person or persons paying the same money to see the application of the same money, or be answerable or accountable for the misapplication or nonapplication thereof, or shall or may be granted or conveyed in fee-simple in exchange for other lands and hereditaments held for an estate in feesimple, and being at the time of such exchange of equal or greater value, or with full power to receive and take, or give any sum or sums of money by way of equivalent for such exchange; and that the money to be received on such sale, or for equality of exchange, shall be forthwith laid out by the said trustee or trustees for the time being, in the purchase of other messuages, lands, and hereditaments held in feesimple, and being either freehold or copyhold; and that the messuage, lands, and hereditaments to be so purchased or received in exchange, shall be settled upon the same trusts (a) (a) Or, "and under and subject to the same powers, provisoes, and agreements." |