No. VIII. WARRANT OF ATTORNEY BY WAY OF COLLATERAL SECURITY Recital of mortgage and of mortgage covenants. [INSERT warrant of attorney to enter up judgment, as in last precedent.] 1. WHEREAS by indenture bearing even date herewith, and made between the said (debtor) of the one part, and the said (lender) of the other part, AFTER RECITING that the said (lender), at the request of the said (debtor), had agreed to advance him the sum of 4501., the repayment of which and the interest was to be assured unto the said (lender), his executors, administrators and assigns, in manner thereinafter mentioned, IT IS WITNESSED, that in consideration of 450l. then paid by the said (lender) to the said (debtor), the said (debtor) did thereby covenant with the said (obligee) for the repayment of the said sum of 450l. and interest by the following instalments: (that is to say,) that he the said (debtor), his heirs, executors or administrators, would on the 29th day of September and the 25th day of March in every year, well and truly pay or cause to be paid unto the said (lender), his executors, administrators or assigns, the sum of 507. sterling, together with interest on such part of the said principal sum of 450l. as should then remain owing upon the now reciting mortgage security, at the rate of 51. for every 100l. by the year, without deduction, until the whole of the said principal moneys and interest thereby secured, and also all costs and expenses incurred in relation thereto, should be fully paid off and discharged. (a) No. VIII. Warrant of Attorney by way of collateral Security, &c. (a) If a policy of assurance has been assigned by way of collateral security, insert A. AND IT IS (by the now reciting indenture) ALSO WITNESSED, Recital of that for the consideration thereinbefore expressed, the said (debtor) a policy of assignment of did thereby assign unto the said (lender), his executors, adminis- assurance. trators and assigns, a certain policy of assurance [DESCRIBE policy of assurance shortly but accurately] upon trust for assuring unto the said (lender), his executors, administrators and assigns, the repayment of the said sum of 450l. as therein expressed and declared. AND the said (debtor) further covenanted that he had good right to assign the said policy of assurance; also, that the same policy of assurance was a good, valid and subsisting policy, and that he the said (debtor) would do no act whereby the said policy might be impeached or prejudiced; and further, that he the said (debtor), his executors, administrators or assigns, would at all times during the continuance of the said mortgage security, regularly pay the annual premiums upon the said policy of assurance when and as the same should become payable, and deliver the vouchers for such payments unto the said (lender), his executors, administrators or assigns; and that in case the said (debtor) should neglect to pay such premiums, or to deliver over such receipts or vouchers, and the said (lender) should renew or effect any fresh policy or policies of assurance upon the life of the said (debtor) not exceeding the sum of 450%., that he the said (debtor), his executors, administrators or assigns would upon demand repay unto the said (lender), his executors, administrators or assigns, all such sums of money as he or they should expend in keeping up or effecting such policy or policies of assurance as aforesaid. AND ALSO that the said (debtor), his executors, administrators or assigns, No. VIII. Warrant of Attorney by way of collateral Security, &c. Defeasance. NOW IT IS HEREBY DECLARED, that the judgment so entered up against the said (debtor), in pursuance of the above-written warrant of attorney, is by way of security to the said (lender) for the principal sum of 4501., and interest at the rate of 51. for every 1007. by the year, to be computed from the day of the date hereof, for money this day lent and advanced by the said (lender) to the said (debtor); but that no execution shall be issued or taken out, in case the said (debtor), his executors, administrators or assigns, do and shall, on the 29th day of September and the 25th day of March in every year, well and truly pay or cause to be paid unto the said (lender), his executors, administrators or assigns, the sum of 50l. sterling, together with interest on such part of the said sum of 450l. as shall then remain owing upon the said hereinbefore recited mortgage security, at the rate of 51. for every 1007. by the year, without deduction, until the whole of the said principal moneys and interest thereby secured, and also all costs in respect thereof, shall be fully paid off and discharged. (b) BUT if default shall be made in payment of the said principal sum of 450l. and interest by the said instal would from time to time, whenever thereunto requested by the said (lender), his exccutors, administrators or assigns, attend personally at such assurance office as the said (lender), his executors, administrators or assigns should direct, and then and there give such information respecting his age, health or otherwise, as should be deemed requisite for the purpose of effecting an assurance upon his life, or otherwise in relation thereto. (b) If a policy of assurance has been assigned as additional security, insert— "AND also shall at the time of the sealing and delivering of the said hereinbefore recited indenture have good right to assign the said policy of assurance, and shall do no act whereby the same policy of assurance may be vacated, or prejudiced or endangered; and shall also, during the continuance of the said herein before recited mortgage security, regularly pay the annual premiums upon the said policy of assurance, when and as the same shall become payable, and immediately upon such payment deliver over the receipts or vouchers for the same to the said (lender), his No. VIII. Warrant by way of collateral Security, &c. ments in manner aforesaid, (b) it shall be lawful for the said (lender), his executors, administrators or assigns, to sue out execution or executions upon or by virtue of the said judgment for the of Attorney whole of the said sum of 9007., which sum so to be levied shall be applied in payment of the said principal sum of 450l. and interest, or so much thereof as shall be then due and undischarged, and all costs, charges and expenses attending the levying of the same; and after payment and satisfaction thereof, shall pay over the surplus moneys (if any) unto the said (debtor), his executors, administrators or assigns. executors, administrators or assigns; or, in case the said (debtor) should neglect to pay such premiums, or to deliver over such receipts or vouchers for the same, and the said (lender), his executors, administrators or assigns, should renew the said policy of assurance, or effect any fresh policy of assurance on the life of the said (debtor), not exceeding the sum of 450l., the said (debtor), his executors, administrators or assigns, shall, upon demand, repay unto the said (lender), his executors, administrators or assigns, all such sums of money as he or they shall or may expend in keeping up or effecting such policy or policies of assurance as aforesaid; and the said (debtor) shall from time to time, whenever thereunto requested by the said (lender), his executors, administrators or assigns, attend personally at such assurance office as the said (lender), his executors, administrators or assigns, shall appoint, and then and there give such information respecting his health, age or otherwise, as shall be deemed requisite for the purpose of effecting an assurance on his life, or in relation thereto." ́ (c) If a policy of assurance has been assigned, insert shall be made B. "Or if breach shall happen to be made in all, any or either If breach of the covenants expressed to be contained in the said hereinbefore in mortgage recited indenture, then and in such case, for all, any or either of the causes aforesaid." covenants. No. IX. WARRANT OF ATTORNEY TO ACKNOWLEDGE SATISFACTION 1. Exordium. 2. Recital of judgment. 3. Of satisfaction. 4. Power to acknowledge satisfaction. 5. Testimonium. Exordium. Recital of judginent. Of satisfaction. Power to acknowledge satisfaction. 1. TO (A. and B.), gentlemen, attorneys of Her Majesty's Court of Queen's Bench (or Common Pleas) at Westminster, jointly and severally, or to any other attorney of the same court. 2. WHEREAS I, (grantee of annuity), of, &c., heretofore, to wit in or about the term of last past (or in the year of the reign of Her present Majesty Queen Victoria), obtained judgment in Her Majesty's Court of Queen's Bench (or Common Pleas) against (grantor), of, &c., for £ costs, as appears by the record thereof. and £ for 3. AND WHEREAS I the said (grantee) have received satisfaction for the same. (a) 4. THESE ARE THEREFORE to desire and authorize you you the attorneys above-named, or either of you, or any other attorney of the said Court of Queen's Bench (or Common Pleas) to acknow Practical observations. (a) The grantor has a right to call upon the grantee, when the judgment is satisfied, to acknowledge satisfaction: but the grantor must pay the costs of such acknowledgment: (Tidd. Pract. 1062, 2nd edit.) |