By mortgagor

to renew, and

assign renewed

leases to mort

gagees, with

provision, in

case of mortgagor's neglect, for mortgagees to surrender leases and take

own names.

CXVI. Covenant, promise, and agree to and with the said C. D. and E. F., their executors, administrators, and assigns, in manner following; (that is to say), that in case any or either of the said persons on or for whose lives the said respective premises now are or shall be held, shall happen to die before the said sum of £— and the interest thereof shall be fully paid off and discharged, he the said A. B., his executors, administrators, and assigns, shall and will, from others in their time to time and at all times within one calendar month next after the death of each and every such person being a life, at his and their own proper costs and charges, purchase and take a new lease or new leases of the said premises from the owner or respective owners of the fee thereof, (if he or they will consent to grant the same), with the addition of such other person or persons, in the room or stead of the person or persons so dying, as shall from time to time be nominated or approved of by the said C. D. and E. F., their executors, administrators, and assigns; and shall and will from time to time, immediately after taking such last-mentioned new lease or leases, at his and their like costs and charges, assign over such new lease or leases respectively to be purchased and taken in manner aforesaid, and all the estate, term, and interest of him the said A. B., his executors or administrators, of, in, or under the same respectively, unto the said C. D. and E. F., their executors, administrators, or assigns, for the better securing the payment unto him or them of the said sum of £— and the interest thereof. Provided always, and it is hereby covenanted, declared, and agreed by and between the said parties to these presents, that in case the said A. B., his executors or administrators, shall at any time or times hereafter neglect or refuse to purchase or take a new lease or new leases of the said premises within the times and in manner before mentioned, then and in such case it shall and may be lawful to and for the said C. D. and E. F., their executors, administrators, or assigns, to surrender the said several recited indentures of lease hereinbefore assigned, and also

surrender, vide Tit. VIII. art. cxv. p. 505. Also, a declaration of trust of such renewed lease. Vide Tit. VII. COMMON FORMS, art. cxvii. p. 319.

Another form.

such other lease or leases as shall be taken and renewed in the said premises, and from time to time to renew, purchase, and take a new lease or new leases of the said premises respectively in his or their own name or names, either for a term or terms of years absolute, or determinable on the death of one or more life or lives, or to take a new lease or new leases of the same premises in reversion, determinable on the life or lives of such person or persons as he or they shall think proper to nominate and add; and that the said C. D. and E. F., their executors, administrators, or assigns, shall not be compelled or compellable, either in law or in equity, to assign his or their estate, term, and interest in the said premises by virtue of and under this present assignment, or by virtue of and under such renewed lease or leases, until payment and satisfaction to them, not only of the said principal sum of £ and all interest thereof, but also of the fine and fines paid for such renewal and renewals, and all costs, charges, and expenses relating thereto, with lawful interest for the same respectively (a).

CXVII. And the said A. B. doth for himself, his heirs, executors, administrators, and assigns, covenant, promise, and agree with and to the said C. D., his executors, administrators, and assigns, that he the said A. B., his heirs, executors, administrators, and assigns, shall and will, from time to time and at all times hereafter during the continuance of the security intended to be hereby made, when and as often as either of them the said E. F., G. H., and I. K., or any future cestui que vie or cestuis que vie to be substituted in their or either or any of their room, or in the room of any future cestui que vie or cestuis que vie, shall die, or the usual course of renewal shall require, use his utmost endeavours to procure a renewed lease of the premises comprised in the said hereinbefore in part recited lease of the &c., and in the name or names of the said C. D., his executors, administrators,

(a) Here insert a provision, as in the next Form, limiting the amount of fines and expenses to be paid by the mortgagee, so that the ad valorem duty may be paid on the aggregate sum.

a term of

or assigns, for the term of ninety-nine years from the time of such renewal, determinable on the decease of the survivor of not less than three cestuis que vie, so that the premises comprised in the said hereinbefore in part recited lease of &c., may, during the continuance of the security intended to be hereby made, as far as the matter and circumstances of the case will admit of, be never held for any less term than years determinable on the decease of the survivor of not less than three cestuis que vie; and may remain under and subject to such and the like rents, covenants, agreements, and provisoes as the same are now subject to respectively by virtue of the said hereinbefore in part recited indenture of the &c.; And that he the said A. B., his executors, administrators, and assigns, shall and will pay the fine for every such renewed lease, and all costs, charges, and expenses relating thereto; And further, that if the said A. B., his executors, administrators, or assigns, shall neglect or refuse to renew as aforesaid, or to pay the fines, fees, and other charges and expenses incident to and payable upon such renewal, then and so often as it shall so happen, it shall and may be lawful to and for the said C. D., his executors, administrators, and assigns, when and so often as any one or more of the said present or future cestuis que vie shall die, or the usual course of renewal shall require, to renew such lease as aforesaid in their or his own proper names or name, or in the names or name of such other person or persons as he or they shall appoint, to be held by him or them upon the trusts and in manner aforesaid; and also, that he the said A. B., his executors or administrators, shall and will on demand well and truly pay or cause to be paid unto the said C. D., his executors, administrators, or assigns, all such fines, fees, and other charges and expenses as shall and may from time to time be incurred upon every or any such renewal as last aforesaid, with interest for the same after the rate of £5 for every £100 by the year, from the time or respective times of advancing the same; and that the fines, fees, and other expenses, and the interest thereon, after the rate and from the time aforesaid, shall, in default of such payment thereof, stand in the same place as the said principal sum of £ and be secured by such and the same

Another form.

securities, and be recoverable by such and the same ways and means. Provided always, that the fines, fees, and expenses for procuring such new lease shall not be charged on the said premises to any greater amount than £, so as not, with the said £, to exceed the sum of £–

CXVIII. Covenant and declare, to and with the said A. B., his executors, administrators, and assigns, and the said A. B. doth hereby consent and agree, that from time to time, when and as often as any one of the lives on which the said rectory, tithes, hereditaments, and premises comprised in the said hereinbefore in part recited indenture of lease, bearing date the &c., are, and from time to time during the continuance of the said sum of £ or any part thereof on this security, shall be held, shall depart this life; and also from time to time, at the usual and customary times of renewing the lease granted by the said herein before recited indenture, bearing date the &c., or any renewed lease of the same premises, the said C. D., his heirs, executors, administrators, and assigns, and also the said A. B., his heirs, executors, administrators, and assigns, shall do all such acts, and make all such surrenders, and the said C. D., his heirs, executors, administrators, or assigns, shall pay all such fines, fees, and expenses as shall be payable for the purpose of obtaining a new or further lease of the premises respectively, according to the usual and customary mode of granting such renewals; and that if the said C. D., his heirs, executors, administrators, and assigns, shall neglect to make such renewals, it shall or may be lawful to and for the said A. B., his heirs, executors, administrators, or assigns, to make the same, and to pay the fines, fees, and expenses of such renewal; and that the same fines, fees, and expenses, not exceeding in the whole, together with and including the said sum of £- the sum of £- shall be deemed principal monies, and shall, from the respective times of paying the same, respectively bear interest at the rate of £5 per cent. per annum; and the same principal monies, not exceeding in the whole the sum of £ and interest, shall be charged and chargeable upon the freehold and copyhold hereditaments and premises respectively hereby re

leased, assigned, and assured to or to the use of the said A. B., his heirs, executors, administrators, and assigns as aforesaid, and that the same hereditaments and premises shall not be redeemed or redeemable at law or in equity, until as well the same fines, fees, and expenses, not exceeding the sum of £ as aforesaid, and interest thereon at the rate aforesaid, as the said sum of £ and the interest thereof, at the rate aforesaid, shall be fully paid and satisfied; and that when and as soon and as often as any such renewal shall be obtained, the estate or estates to be granted by any new or renewed lease shall from time to time, at the costs and charges of the said C. D., his heirs, executors, administrators, or assigns, be assigned, released, or settled so and in such manner that the said A. B., his heirs, executors, administrators, and assigns, may have the same or the like estate and interest in the premises respectively, as are hereby granted to him and them in the premises respectively, or as near thereto as may be, or the circumstances of the case will admit; subject, nevertheless, to the proviso or agreement for redemption hereinafter continued.

CXIX. And the said A. B. doth hereby for himself, his heirs, executors, and administrators, covenant, promise, and agree with and to the said C. D., his executors, administrators, and assigns, that he the said A. B., his executors, administrators, and assigns, shall and will, within the space of twelve calendar months from the day of the date of these presents, in case the said sum of £

or any part

thereof, shall continue on this security, use his utmost endeavours to procure a renewed lease of the premises comprised in the said hereinbefore in part recited lease of the &c., together with a license to demise the same; and shall and will, when and so soon as such renewed lease and license shall be obtained, forthwith demise and lease the same, and all the estate and interest of the said A. B. therein, unto the said C. D., his executors, administrators, and assigns, upon such and the like trusts, and for such and the like intents and purposes as are hereinbefore expressed and declared of and concerning the said hereinbefore recited lease of the &c.; and that he the said A. B., his executors,

To obtain rewith a license to demise; and thereupon to

newed lease,

demise the same to mortgagee

upon the trusts

of original lease, and to pay fines. (Short form).