CHARGE.

Annuity.

And covenants. &c. in former grant shall extend to this.

Further assu

rance,

Power of repurchase.

Repurchase by instalments.

Provisos, &c.

within written indenture for receiving and recovering the said
annuity or yearly sum of £ thereby granted and secured, or
mentioned or intended so to be. AND also that the covenant or
agreement in the within written indenture contained, for enabling
the said (grantee) to insure the life of the said (grantor) shall be
binding upon him the said (grantor), in regard, as well to any fur-
ther assurance to be effected by reason of these presents, on the
annuity hereby granted, as any assurance to be made by reason of
the within written indenture, or the annuity thereby granted. AND
moreover, that the agreement and declaration in the within written
indenture contained relative to or in respect of the judgment and
execution to be entered up and issued respectively, for securing the
payment of the within mentioned annuity or yearly sum of £
shall extend to, or be construed and deemed to extend to any judg-
ment or execution to be entered up or to issue by virtue of the war-
rant of attorney given for securing the payment of the said annuity
or yearly sum of £
hereby granted. AND moreover, that
he the said (grantor) shall and will at any time hereafter, at his
own costs and expense, upon the reasonable request of the said
(grantee), his executors, administrators or assigns, make, do and
execute any further act, deed, matter or thing whatsoever, for the
better or more satisfactorily charging the within mentioned premises
with the payment of the said annuity or yearly sum of £

expressed to be hereby granted, in such manner as he or they, or his
or their counsel in the law shall lawfully require. AND the said
(grantee) doth hereby, for himself, his executors, administrators and
assigns, agree and declare with and to the said (grantor), his heirs,
executors and administrators, that he the said (grantor) shall have
and be entitled to the like privilege (1) and power of re-purchasing
and extinguishing the said annuity or yearly sum of £
by granted, on payment of the sum of £
to him the said
(grantee), his executors, administrators and assigns, after six calen-
dar months' notice being given thereof, as in the within written in-
denture is contained, as, to or in respect of the within mentioned
annuity or yearly sum of £
on payment of the sum of

here

(1) If the grantor is to have the liberty of re-purchasing this annuity by instalments, but has not that privilege in respect of the former annuity, add, instead of this clause, the proviso, ante, p. 66.

(2) See various provisos, &c. to be added where circumstances may require it, ante, MOD. PREC. Vol. VI. p. 84. et seq. and INDEX, VOC "AGREEMENT," "COVENANT," ""PROVISO."

No. CCLXXVII.

*A Charge of an Annuity upon Premises by way of collateral security so as to avoid a forfeiture for alienation under a devise (1), also provision for an accumulation fund to keep down arrears (2).

CHARGE.

Annuity.

THIS INDENTURE of

the

year of the reign, &c. and in the year of our Lord 18 BETWEEN (grantor) of, &c. of the first part, (grantee) of, &c. of

the second part, and (a receiver) of, &c. of the third part. WHEREAS Recital of will, by indenture bearing date, [recite shortly the conveyance or assignment of the premises to the grantor]. AND WHEREAS (testator) of, &c. by his last will and testament in writing bearing date, &c. duly executed and attested, (amongst other things) devised and bequeathed to the said (grantor), for the term of his life, the messuages, &c. hereinafter described, but nevertheless upon condition, that he the said (grantor) should not alienate, convey or dispose thereof or of any part thereof, or of his interest therein, and thereby declared that in case of his so doing he should forfeit all claim to any benefit under his (the said testator's) will, and that the said messuages should be immediately sold, and the produce thereof be vested in the Funds for the equal benefit of the lawfully-begotten children of the said (grantor). AND the said (testator) also directed that at the decease of the said (grantor) the said messuages should be sold, and the produce vested in the Funds for the purposes therein mentioned; AND WHEREAS the said testator aforesaid departed this life without having revoked or altered his said will, and upon his decease the said will was duly proved by the executors therein named, on the

day of

in the Court of, &c. (as the case was). AND whereas the said (grantor) hath contracted and agreed with the

Contract for
part
of annuity.

(1) See opinions at the end of the Precedent (post. rider (A). p. 272). (2) This was rendered proper, chiefly by reason of the premises being leaseholds and holden but for a short unexpired term.

CHARGE.

Annuity.

an accumulation

fund.

said (grantee) for the sale to him of a clear annuity or yearly sum of L to be payable to the said (grantee), his executors, administrators or assigns, henceforth and during the natural life and up to the day of the decease of the said (grantor), at or upon the days and times, and in the manner hereinafter mentioned, but subject nevertheless to be re-purchased upon the terms and conditions hereinafter expressed; the true and bonâ fide consideration for the sale and purchase of which said annuity was and is the sum of £ Agreement for AND WHEREAS upon the treaty for the purchase of the same an nuity, it was proposed and agreed, that in order to provide a fund for the better payment thereof, the said (grantor) should advance and pay to, or place in the hands of the said (grantee), his execu tors, administrators or assigns, exclusive of or for the payment of the same annuity, the sum of L yearly and every year during the term of years, or during so many years of the said term as the same annuity should continue payable; and which said yearly payment or sum of £ should be from time to time invested by the said (grantee), his executors, administrators or assigns, at their or her option, either in purchasing, in the manner hereinafter mentioned, one or more annuity or annuities of equal duration with the said annuity of L , and to be accepted and taken by him or them in lieu and satisfaction, or in reduction and part payment thereof, as the case might require, or otherwise should be invested in his or their name or names in the purchase of three per cent. Consolidated Bank Annuities, to be held by him or them during the continuance of the said annuity in the manner hereinafter mentioned: And it was also proposed and agreed, that the said annuity of L and also the payment of the said yearly sum of £ during the term or period, and for the purpose aforesaid, should be secured by a judgment to be entered up in the Court of King's Bench against the said (grantor) at the suit of the said (grantee) for the sum of £ and costs of suit. AND WHEREAS in pursuance of the said last mentioned agreement, the said (grantor) hath, by a certain warrant of attorney or instrument in writing under his hand and seal, bearing even date with these presents, authorized certain attornies therein named, jointly or severally, or any other attorney of the said Court of King's Bench, by confession or otherwise, to suffer judgment to be entered up against him the said (grantor) in the said court in an action of debt, at the suit of the said (grantee), for the sum of £ and costs of suit; and by which said warrant of attorney it is declared that the said judgment is intended to stand and shall accordingly be deemed and considered only as a security in

Warrant of attorney given.

the first place for the due and regular payment by the said (grantor)
to the said (grantee), his executors, administrators or assigns, of
the said annuity or yearly sum of £ thenceforth, for and during
the natural life and up to the day of the decease of the said (grantor),
at or upon the days or times, and in the manner therein and herein-
after more particularly mentioned; and in the next place as a secu-
rity for the due and regular payment by the said (grantor) to the
said (grantee), his executors, administrators or assigns, of the said
yearly sum of £
during the term or period and for the

purpose hereinbefore and hereinafter more particularly express

ed.

CHARGE.

Annuity.

AND it is also by the said warrant of attorney provided Agreement of that the said (grantor) shall be at liberty at any time there- repurchase. after to repurchase the said annuity of £

, upon the terms

or

and conditions therein and hereinafter mentioned in that behalf, and
that no execution shall be issued or taken out upon the said
judgment unless and until either the said annuity of £
some part thereof, or the said yearly payment or sum of £
or some part thereof, shall be in arrear for the space of twenty-one
days; and that in case of any such default, it shall be lawful
for the said (grantee), his executors, administrators or assigns, at
his or their election, at once to levy execution for the whole of the
said sum of £
and costs of suit, or otherwise to levy execu-
tion for any part or parts thereof from time to time as he or they
shall think necessary or expedient; and that the clear surplus (if
any) of the sum or sums to be levied by virtue of any such
execution upon the said judgment, which shall remain after payment
of the costs of levying the same and of the arrears, or other sum
or sums of money for which the same was so levied as afore-
said, shall be invested and applied by the said (grantee), his execu-
tors, administrators or assigns, in the manner therein and herein-
after mentioned with respect to the said yearly payment or sum of
L AND whereas a considerable part of the said sum of L
being wanted by the said (grantor) for the purpose of repairing and
putting into a complete state of repair the said several mes-
suages and premises to him given or devised by the hereinbefore
in part recited will of the said (testator), deceased, it was,
upon the treaty for the sale and purchase of the said annuity
of L
further proposed and agreed by and
between the said (grantor) and the said (grantee), that the
said several premises should be and be made a collateral or
further security for, and should be charged with not only the
due and regular payment of the same annuity, but also of the

,

said yearly sum of £
pose aforesaid, in the manner hereinbefore mentioned or expressed,
and that the same annuity, and also the said yearly sum of £
should be further secured by the covenant of the said (grantor)
hereinafter contained; and it was further agreed that the costs,
charges and expenses of preparing, executing, enrolling and perfect-
ing the several securities for the said annuity, should be wholly borne
and paid by the said (grantor). Now THIS INDENTURE WIT-
NESSETH, that in pursuance and further performance of the said
recited agreement on the part of the said (grantor), and in consi-
deration of the said sum of L of lawful money of the United
Kingdom of Great Britain and Ireland to the said (grantor) in
hand well and truly paid by the said (grantee) upon or immediately
before the sealing and delivery of these presents, the receipt of
which said sum of £ in full for the purchase of the said an-
the said (grantor) doth hereby

for the time or period, and for the pur

nuity or yearly sum of £
acknowledge, and of and from the same, and every part thereof,
doth acquit, release and for ever discharge the said (grantee) by
these presents, He the said (grantor) doth hereby, for himself, his
heirs, executors and administrators, covenant, promise and agree
with and to the said (grantee), his executors, administrators and
assigns, that he the said (grantor) shall and will well and truly pay,
or cause to be paid unto the said (grantee), his executors, adminis-
trators or assigns, henceforth for and during the natural life, and up
to the day of the decease of him the said (grantor), one annuity or
yearly sum of £ of lawful money of Great Britain, free from
taxes, and clear of all other deductions and abatements whatsoever,
by four equal quarterly payments in every year, on the

the day of

day

respectively (the first quarterly day of

payment to become due and be made on the
now next ensuing, provided the said (grantor) shall be then living)
together with and including a proportionate part of the yearly pay-
ment of the said annuity which shall or may be growing due at the
time of his decease, to be computed to the day of his decease from
the day of the date of these presents, or the then last preceding day
of payment, as the case may require, and to be paid immediately
upon the decease of the said (grantor), being the same annuity or
yearly sum of £ as is secured or intended to be secured to the
said (grantee), his executors, administrators or assigns, by the said
recited warrant of attorney; and also that he the said (grantor) shall
and will well and truly pay to and place in the hands of the said