sidered as or in the nature of personal property, for the benefit of him the said A. B., his executors, administrators, and assigns; and that as between the heirs of the said A. B. and his executors and administrators, the executors or administrators of him the said A. B. shall be entitled to the said trust monies, rents, income, and produce, in preference to and in exclusion of the heirs at law of the said A. B., although such sale or sales shall be made after the decease of the said A. B.

VI. And it is hereby understood and agreed, that in the Another form. meantime and until such payment shall be made, and also after the death of the said A. B., in case such sale or sales shall not be made in his lifetime, all the right &c. of the said A. B. in the said messuages &c. shall be considered as or in the nature of personal property, for the benefit of the said A. B., his executors, administrators, and assigns, in preference to and in exclusion of his heirs.

of mortgage.

VII. Provided always, and it is hereby agreed and de- For redemption clared between and by the said A. B. and the said C. D., and the true intent and meaning of them and of these presents nevertheless is, that if the said C. D., his heirs, executors, administrators, or assigns (a), shall (b) well and truly pay or cause to be paid unto the said A. B., his executors, administrators, and assigns, the sum of £ of lawfu

(a) Or,

"the said E. F., his heirs, executors, administrators, or as-
signs, on the behalf and as the surety of the said C. D."
(b) Or,-

"do and shall also reimburse and pay to the said A. B. and
E. F., or the survivor of them, or the executors, administra-
tors, or assigns of such survivor, all and every sum and sums
of money (if any) which he or they shall have advanced and
paid for the purpose of redeeming the said term of
years, or causing the cesser of the same term, and in payment,
satisfaction, and discharge of the principal money, interest,
and costs then due on the security of the same term" &c.

money of Great Britain, and the sum of £ of like law-
ful money, as and for one year's interest for the same, after
the rate of £5 for every £100 for a year, making together
the sum of £, in the parts, shares, and proportions, and
on or at the day or times hereinafter mentioned, (that is to
say), the sum of £, part thereof, being half a year's inte-
rest for the said sum of £, after the rate aforesaid, on
the day of next ensuing the day of the date of
these presents which will be in the year 18, and the sum
of £, residue thereof, being the whole of the said princi-
pal sum of £, and another half year's interest for the
same, after the rate aforesaid, on the
day of — then
next following which will be in the said year 18, without
any deduction or abatement whatsoever out of the same, or
any part thereof, for or on account of any present or future
taxes, charges, rates, assessments, payments, or impositions,
or any other matter, cause, or thing whatsoever; then and
in such case, from and immediately after such payment shall
be so made as aforesaid, he the said A. B., his heirs, execu-
tors, administrators, or assigns, shall and will, upon the
request and at the proper costs and charges of the said
C. D., his heirs or assigns, reconvey the said messuage,
lands, and other hereditaments hereinbefore granted and
released, or expressed and intended so to be, with their
appurtenances, unto the said C. D., his heirs and assigns, as
he or they shall in that behalf order and direct, free from all
incumbrances made, done, or committed by the said A. B.,
his heirs, executors, administrators, and assigns.

For redemption VIII. Provided always, and it is hereby agreed and dewhere loan con-clared between and by the said A. B. and the said C. D., sists of stock (a).

(a) It was at one time doubted whether a loan of stock was prohibited by the stat. 7 Geo. 2, c. 8, s. 8. This point arose in Sanders v. Kentish, 8 Term Rep. 162; but the Court held a loan of this kind to be within the saving of the 11th section. On this occasion Lord Kenyon observed, that if the statute were construed differently, then, instead of being intitled "An Act to prevent the infamous Practice of Stock-jobbing," it ought rather to be called, "An Act to encourage the wickedness of stock-jobbers, and to give them the exclusive privilege of cheating the rest of mankind." A loan of stock being lawful, the parties may agree

pre

and the true intent and meaning of them and of these sents nevertheless is, that if the said C. D., his heirs, executors, administrators, or assigns shall, on the day of

next ensuing the day of the date of these presents which will be in the year of our Lord 18, transfer or cause to be transferred the sum of £- — Bank Annuities into the name or names of the said A. B., his executors, administrators, and assigns, or into the name or names of such other person or persons as he or they shall in that behalf order or direct, in the books of the governor and company of the Bank of England; and also do and shall in the meantime, and until the said sum of £- Bank Annuities shall be so transferred as aforesaid, well and truly pay or cause to be paid unto the said A. B., his executors, administrators, and assigns, in lieu of the interest, dividends, and annual produce thereof, such sum or sums of money as the said C. D., his executors, administrators, or assigns, would have been entitled to receive as and for the interest, dividends, and annual produce of the said sum of £- Bank Annuities, in case the same had continued standing in his or their name or names, for his and their proper use and benefit, at such time or times, and in such shares and proportions as the same interest, dividends, and annual produce would have been payable, without any deduction or abatement whatsoever out of the same or any part thereof, for or on account of any present or future taxes, charges, rates, assessments, payments, or impositions, or any other matter, cause, or thing whatsoever; then and in such case, from and immediately after such transfer and payment shall be so made as aforesaid, he the said A. B., his heirs, executors, administrators, or assigns, shall and will, upon the request and at the proper costs and charges of the said C. D., his heirs or assigns, re-convey the said messuage, lands, and other hereditaments herein before granted and released, or expressed and intended so to be, with their appurtenances, unto the said C. D., his heirs and

that a sum of money, equal to the dividends, shall be paid in the meantime, although the dividends shall exceed five per cent. on the money produced by the sale of the stock; for the lender takes the hazard of any fluctuation in the price of the market. Coote on Mortgages, p. 356.

assigns, as he or they shall in that behalf order and direct, free from all incumbrances made, done, or committed by the said A. B., his heirs, executors, administrators, and assigns, of them.

or any

day of

IX. Provided always, and it is hereby declared and agreed by and between the said A. B. and C. D., that if the said A. B., his heirs, executors, administrators, or assigns shall, on the next, well and truly pay or cause to be paid unto the said C. D., his executors, administrators, or assigns, the said sum of £ of lawful English money, with lawful interest for the same, clear of all deductions on any account whatsoever, then the said term of five hundred years in the said freehold lands and hereditaments shall be assigned to such person or persons as the said A. B., his heirs or assigns, shall appoint; and as to the said copyhold lands and hereditaments, in case the same shall have been surrendered in the mean time, then and in such case the same shall be held by the said C. D., his heirs and assigns, in trust for the said A. B., his heirs and assigns, and to be surrendered as he or they shall direct or appoint.

with interest for the

X. Provided always, and it is hereby agreed and declared between and by the parties to these presents, that if the said A.B., his heirs, executors, administrators, or assigns, shall and do well and truly pay or cause to be paid unto the said C. D., his executors, administrators, or assigns, [at or in the common dining hall of Lincoln's Inn in the county of Middlesex,] the full sum of £ of lawful English money, together same at the rate of £5 for every £100 by the year, on the day of next ensuing the day of the date of these presents; and also if the said A. B., his heirs, executors, administrators, or assigns, shall and do well and truly pay or cause to be paid unto the said C. D., executors, administrators, or assigns, [at the place aforesaid,] all and every other sum and sums of money which he the said C. D. shall at any time or times hereafter lend, pay, or advance unto or to the use or order of him the said A. B., or which he the said C. D. shall at any time or times or from time to time hereafter advance or pay in or towards payment and discharge of any bill or bills of exchange to be

his

drawn by him the said A. B. on him the said C. D., or by discounting or paying, at the request of the said A. B., any draft or drafts, bill or bills of exchange, note or notes of hand drawn or made by the said A. B. or any other person

or persons whomsoever, together with interest for the same (Vide art. xi.) respectively after the rate aforesaid, to be computed from the time or respective times of payment or advancement of the same sum or sums respectively, (such further and other sums of money and interest to be respectively paid by the said A. B., his heirs, executors, or administrators, within the space of calendar months next after the same shall respectively be paid or advanced as aforesaid), without making any deduction, defalcation, or abatement out of the said sum of £, or the interest thereof, or any part thereof respectively, or out of such further sum or sums of money as aforesaid, or any of them, or the interest thereof respectively, for or in respect of any taxes or otherwise howsoever; and also that if the said A. B., his heirs, executors, or administrators, shall and do from time to time well and effectually save, defend, keep harmless and indemnified the said C. D., his executors, administrators, and assigns, and every of them, of, from, and against all loss, costs, charges, damages, and expenses which he the said C. D., his executors, administrators, or assigns, or any of them, shall or may suffer, sustain, or be put unto, for or by reason or means of his accepting, paying, discounting, or honoring any such bill or bills of exchange, draft or drafts, note or notes of hand as aforesaid, or for or by reason of any other matter or thing relating to or concerning these premises, then and in such case &c. (Vide Art. VII.)

and cesser of term on pay

ment of a cer

tain sum now

due, and all future advances

XI. Provided always, and it is hereby declared and agreed For redemption by and between the parties to these presents, and it is the true intent and meaning of them and of these presents, that if the said A. B., his heirs, executors, administrators, or assigns, shall and do well and truly pay or cause to be paid unto the said C. D. and E. F., their executors, administrators, or assigns, the full sum of £ of like lawful money and interest for the same sum, from the the rate of £5 per cent. per annum, on the

at

day of

day of

on a banking account not exceeding a cer

tain amount.