*Deed of Indemnity against Legacies or Portions by Investment of Purchase Money in Bank Annuities.

Variations where the charge is an annuity.

Recitals.

WITNESS.

That amount of
legacy has
been invested

in the Funds.

in the

THIS INDENTURE made the
day of
year, &c. and
in the year of our Lord 18, BETWEEN (the vendor) of, &c. of
the first part, (the purchaser) of, &c. of the second part, and (three
trustees (1)) of, &c. being trustees appointed for the purposes here-
inafter mentioned, of the third part. WHEREAS, &c. [recite will,
charging the premises with payment of legacies or annuities, death
of testator, and sale and conveyance to the purchaser]. AND
WHEREAS the said (legatee) is at present under the age of twenty-
one years, and incapable of discharging the said hereditaments
from the said respective legacies. AND WHEREAS in order to in-
demnify the said (purchaser) therefrom, it has been agreed that the
sum of £
part of the said purchase-money shall be in-
vested in the three per cent. Consolidated Bank Annuities, in the
names of the said (trustees), upon the trusts hereinafter mentioned,
and the same hath been so invested accordingly, and hath produced
the sum of L
of such annuities, which have been this day
transferred into the names of the said (trustees), into the books of
the Governor and Company of the Bank of England. Now THIS In-
DENTURE WITNESSETH, that in pursuance of and for carrying into
effect the said recited agreement, it is hereby declared and agreed by
and between the several parties hereunto, according to their respec-
tive interests, that the said sum of L
three per cent. Con-
solidated Bank Annuities hath been so transferred into the names of

Trustees.

(1) There should be three trustees, in all cases of Bank Annuities, lest, if but two, the money should become at the disposal of one survivor; and for the greater security and satisfaction of the purchaser, he may be one of them.

INDEMNITY.

Legacies (purchase

money).

them the said (trustees), and that they and the survivors and survivor of them, and the executors and administrators of such survivor, and their and his transferrees and assigns, shall and will stand possessed of and interested in the same, and the dividends, interest and proceeds from henceforth to accrue and be payable in respect thereof, UPON the trusts and for the intents and purposes following, (that is to say,) UPON TRUST (1) for indemnifying and saving harmless the Upon trust to indemnify. said (purchaser), his heirs and assigns, and the messuage or tenement and premises so conveyed to him and them, and of and from the said legacy or sum of £ and all interest now or hereafter to become due and payable in respect thereof, and all claims and demands whatsoever on account of the same, AND to and for that end, intent and purpose, upon further trusts, that they the said (trustees) and the survivors and survivor of them, and the executors and administrators of such survivor, and their and his assigns, do and shall pay, assign and transfer the said Bank Annuities, or so much thereof as according to the then market price shall be equal to the said sum of £ when the said (legatee) shall attain his age of twenty-one years, unto him the said (legatee), his executors,

To be transferred to legatee on attaining 21.

(1) If the trust be for indemnifying against payment of an annuity Annuity. chargeable upon the premises, say,

"UPON TRUST that they the said (trustees), and the survivors and survivor of them, and the executors, administrators and assigns of such survivor, do and shall from time to time by and out of the dividends and annual produce of the said sum of £ three per cent. Consolidated Bank Annuities, or in case the same shall at any time or times be insufficient for that purpose, then by and out of the principal of the same stock, pay and discharge the aforesaid annuity or yearly rent-charge of £ when and as the same shall

become due and payable, and all costs, charges and expences, if any, to be occasioned by the non-payment thereof, to the end and intent that the said several hereditaments and premises purchased by the said (purchaser) as hereinbefore is mentioned, may be and remain protected and indemnified from and against the said annuity or yearly rent-charge and every part thereof, and all claims and demands for or in respect of the same, so long as the same shall be subsisting and after the extinguishment thereof, by any means whatsoever, and all expenses attending the same. Then in TRUST for, &c. (as the case may require).

INDEMNITY.

Legacies (purchase money).

Further trust to

apply dividends for legatee in the meantime.

administrators, or assigns, in discharge of the said legacy or sum of
£ so given to him by the will of the said (testator) as aforesaid.
AND
upon this further trust, in the mean time and until the said legacy
shall become payable, that they the said (trustees) or the survivors or
survivor of them, and the executors and administrators of the survivor,
and their or his assigns, shall and do from time to time pay, lay out and
apply the dividends, interests and proceeds of the said Bank Annuities,
as the same shall from time to time become due and be received, in such
manner and for such ends and purposes as in or by the said in part
recited will of the said (testator) deceased, is directed concerning
the same, or otherwise as according to the rules of law and equity the
same shall for the time being be applicable, and as to so much
thereof of which no such direction has been given, or of which no
rule of law or equity shall otherwise require, do and shall invest the
same from time to time as and when the same shall be paid or pay-
able, in the purchase in like Bank Annuities in the names of them the
said trustees or trustee, in order that the stock purchased therewith
may be an accumulating fund, and be applicable and applied upon
and for the same trusts, intents and purposes as are herein before
expressed or intended of or concerning the said legacy or sum of
L
so hereinbefore invested as aforesaid, for the better in-
demnity of the said (purchaser), his heirs and assigns, and the
aforesaid messuages or tenements and hereditaments. PROVIDED
always, &c. [add power to appoint new trustees, in case of death,
&c. and for indemnity if the trustees are not those appointed by ·
the will, or no provision be made in the will for that purpose (1).]
IN WITNESS, &c.

(1) See these powers, ante, p. 556.

No. CCCLXVIII.

A Deed of Indemnity to an Assignor by the Assignee of Leasehold Premises against Payment of Rent and performance of Covenants in the Lease (1).

INDEMNITY.

Rent and

covenants.

TO ALL TO WHOM THESE PRESENTS SHALL COME, I (the assignee) of, &c. send greeting. WHEREAS by an indenture of demise or lease Recital of lease. bearing date the

day of

day of

in the year

and

made or expressed to be made between (the lessor) of, &c. of the one part, and (the lessee) of, &c. of the other part, the said (lessor), for good and sufficient considerations therein mentioned, demised and leased unto the said (lessee) certain messuages or tenements, and premises, situated at in the county of in the said indenture more particularly described. TO HOLD the same with the appurtenances unto the said (lessee), his executors, administrators, or assigns, from the then last past, for the term of years to be thence next ensuing, at the yearly rent , and subject to the covenants, provisoes, and agreements therein contained on the part of the said (lessee), his executors, administrators, and assigns, to be performed or observed, as in and by the said indenture of release (reference being thereto had) will more fully appear. AND WHEREAS I have contracted with the Assignment of said (assignor) for the purchase of the messuages and premises com

of L

pur.

lease.

should be by

separate deed.

(1) The common way of providing for the vendor's indemnity against Indemnity the rent and covenants in his lease is to insert a covenant for that pose in the deed of assignment itself; but as such assignment belongs to and always remains in the possession of the purchaser, the vendor has no certain means where that mode is adopted of availing himself of the benefit of the covenant, but by having at his own expense a counterpart, or by a suit in equity for compelling the production of the original assignment. The proper mode therefore evidently is to provide such indemnity by some instrument to be detached from the purchase deed; this may be either by bond, in the form given ante, p. 186, or by a deed of the kind here given.

SUP.-VOL. II.

PP

INDEMNITY.

Rent, and covenants.

Agreement to indemnify.

WITNESS. The assignee covenants

prised in the said indenture of lease, and by an indenture of assignment bearing even date with these presents, and made between the said (assignor) of the one part, and me the said (assignee) of the other part, he the said (assignor) for valuable considerations therein expressed hath assigned or otherwise assured to me the same messuage or tenement, piece or parcel of ground and premises, for the then and now residue of the said term, subject to the payment of the rent and the performance of the covenants in the said indenture of lease reserved and contained, which on the part of the lessce or tenant of the said premises are to be henceforth paid and performed respectively. AND WHEREAS at the time of the said purchase it was agreed that I should indemnify the said (assignor) against the said rent and covenants in the manner hereinafter expressed. Now THEREFORE KNOW YE, that in pursuance of the said agreement and in consideration of the said in part recited indenture of assignment, and of the covenants and agreements therein contained on the part of the said (assignor), I the said (assignee) for myself, my heirs, executors, and administrators, do hereby covenant, promise, and agree with and to the said (assignor), his executors and administrators, in the manner following; (that is to say) that I the said (assignee), my executors, administrators, or assigns, shall and will from time to time and at all times hereafter, so long as I or they shall or lawfully may peaceably and quietly have, hold, and enjoy the messuages and premises described in and assigned or otherwise assured by the hereinbefore in part recited indenture of assignment of even date with these presents, or expressed or intended so to be, as hereinbefore is mentioned, according to the tenor and true intent and meaning of the same indenture against the said (assignor), his executors and administrators, and all persons lawfully and rightfully claiming by, from, through, under, or in trust for him or them or any or either of them, shall and will well and truly pay or cause to be paid the yearly rent of £ and all and every other sum and sums of money which in or by the said in part recited indenture of lease is or are reserved, or made payable, by the lessee or tenant of the said premises, during the now residue or remainder of the said And perform the term of years thereby granted; and also well and truly obcovenants in the serve and perform all and every the covenants, provisoes, clauses, lease. conditions, and agreements therein contained on his or their part to be performed or observed, for and in respect of the premises thereby And indemnify demised, or any part thereof; and shall and will protect, defend, keep harmless and indemnified him the said (assignor), his executors and administrators, and his and their goods and chattels, and lands

to pay the rent.

the assignor.