said [mortgagor,] hath, &c. [After conveying the property, add the covenants, provisoes, and powers applicable to primary mortgages, with a covenant by the mortgagee, that he has done no act to incumber.] In witness, &c.

ASSIGNMENT OF A MORTGAGE WHERE THE MORTGAGOR IS NOT A PARTY.

This indenture, made, &c., between, &c. [Recite the mortgage deed.] And whereas the said principal sum of L. is now due and owing to the said [mortgagee,] upon the before in part recited security, together with the sum of L. for arrears of interest thereon. And whereas the said [assignee] hath, at the request of the said [mortgagee,] agreed to pay off and discharge to him, the said [mortgagee,] the said sum of L. , so due and owing to him, upon the

a

This form is preferable for its simplicity, but it is thought by some persons that if it is used, an ad valorem duty must be paid on the whole sum; and that to save that duty upon the sum already charged, the mortgagee must assign the debt, &c., as in an assignment where the mortgagor does not join; and the covenant of the mortgagor be confined to the further sum, as in the case of a further charge, which will be the character of the transaction between the mortgagor and assignee; but some writers contend, that even if both sums are amalgamated and secured by covenants, powers, and trusts applicable to the united sums, an ad valorem duty would only be payable on the additional sum secured; and the editor concurs in this opinion. See Coventry on Stamps, and

post. p. 667.

If the mortgagor joins, add, "as he, the said [mortga gor,] doth hereby acknowledge ;" and where he does not join, immediate notice of the assignment should be given to him, as any payments made by him to the original mortgagee, without notice of the assignment, would be valid; Norrish v. Marshall, 5 Mad. 475; Williams v. Sorrel, 4 Ves. 389.

hereinbefore in part recited securities, and to take an assignment and transfer of the said debt or sum of L. and the securities for the same, in manner hereinafter mentioned. Now, this indenture witnesseth," that, in consideration, &c., he, the said [mortgagee,] hath bargained, sold, and assigned, and, &c., unto the said [assignee,] his executors, administrators, and assigns, all that the said sum of L. so secured to the said [mortgagee] by the said in part recited indenture of as hereinbefore mentioned, together with the said sum of L. so due and owing for interest thereon, and all interest henceforth to become due for the same; and all the right, title, interest, property, claim, and demand whatsoever, both at law and in equity, of him, the said [mortgagee,]in, to, or out of the principal and interest moneys and premises hereby assigned, or intended so to be, [together with full power and authority, in the name or names of the said [mortgagee,] his executors, or administrators, but at the proper costs and charges of the said [assignee,] his executors, administrators, or assigns, to commence, institute, and prosecute all such actions, suits, and other proceedings, whether at law, in equity, or otherwise, as may be necessary for the recovery, compelling payment, and receiving the said principal and interest moneys intended to be hereby assigned, or any part or parts thereof respectively; and to give, sign, and execute effectual releases, acquittances, and discharges for the same.]

To have, hold, receive, and take the said principal and interest moneys, and all and singular other the premises hereby assigned, or intended so to be, and every part thereof, unto the said [assignee,] his executors, administrators, and assigns, for his and their own absolute use and benefit. [Where a power of attorney is adopted, as is usual on large transactions, insert it here, and then omit

See note to p. 439.

the part between brackets.] And this indenture further witnesseth. [Here add an assignment of the mortgaged premises, concluding the habendum as follows.] But subject to such right, title, and equity of redemption, as the same messuages, &c., under and by virtue of the said in part recited indenture of mortgage of are subject and liable to: And the said [mortgagee] doth hereby, for himself, his heirs, executors, and administrators, covenant, promise, and agree, with and to the said [assignee,] by these presents, in manner following; (that is to say,) that he, the said [mortgagee,] hath not received the aforesaid sum of L. or any part thereof; but that the same sum is still due and owing to him, on the said recited securities: And further, &c., [add covenant that he has not incumbered, p. 89.] In witness, &c.

CONVERSION OF A MORTGAGE FOR A TERM INTO A MORTGAGE IN FEE ON A TRANSFER, THE TERM BEING ASSIGNED TO ATTEND THE INHERITANCE.\

This indenture, made, &c., between [the mortgagor] of the first part, [the mortgagee] of the second part, [the assignee] of the third part, and [the trustee] of the fourth part. [Recite the mortgage, the amount due on it, and the agreement with the assignee.] Now, this indenture witnesseth, that, in pursuance of the said recited agreement in this behalf, and in consideration of the sum of L.

by the

d This covenant is of importance where the mortgagor is not a party, as the assignee takes subject to the account existing between the mortgagor and mortgagee; Bradwell v. Catchpole, 3 Swan. 79, n.; Chambers v. Goldwin, 9 Ves. 264.

• If the term is a modern one, and it should be thought advisable to merge it, this form may be easily adapted for that purpose; the mortgagee joining in the conveyance of the fee, and the second witnessing part being omitted altogether.

said [assignee] paid to the said [mortgagee,] as hereinafter mentioned; and also in consideration of the sum of 10s. by the said [assignee] now paid to the said [mortgagor,] the receipt whereof is hereby acknowledged, he, the said [mortgagor,] hath granted, bargained, sold, released, and confirmed, and, &c., unto the said [assignee,] (in his actual possession, &c.,) and to his heirs and assigns, all, &c. [The remainder of this witnessing part, including the proviso for redemption, power of sale, covenants for title, will be like other mortgages; then add,] And this indenture further witnesseth, that, in consideration of the

sum of L. by the said [assignee,] at the request and by the direction of the said [mortgagor,] testified, &c., to the said [mortgagee,] in hand, &c., the receipt, &c., and, &c., [insert a nominal consideration paid by the trustee ;] he, the said [mortgagee,] at the request and by the direction of the said [mortgagor,] and upon the nomination of the said [assignee,] testified, &c., hath bargained, sold, assigned, transferred, and set over, and, &c., unto the said [trustee,] all and singular the said [messuages, lands, and premises,] comprised in, and demised by, the said herein before in part recited indenture of mortgage of

being the hereditaments herein before described, and hereby granted and released, or intended so to be, with their several rights, members, and appurtenances; and all the estate, &c.: To have and to hold the said messuages, lands, and other the premises hereby assigned, or intended so to be, with their appurtenances, unto the said [trustee,] his executors, administrators, and assigns, for and during all the rest, residue, and remainder of the said term of years now to come and unexpired, and all other the estate, term, and interest of the said [mortgagee,] therein freed and absolutely discharged of and from the said sum of L. and interest, and all other the moneys secured by the said indenture of mortgage as hereinbefore mentioned; but nevertheless in trust for the said [as

signee,] his executors, administrators, and assigns, for better and more effectually securing to him and them the said principal sum of L.

and interest and other moneys hereby secured, or intended so to be; and for that purpose to assign and dispose of the same term and premises, from time to time, as he or they shall direct or appoint, and subject thereto, In trust for the said [mortgagor,] his heirs, appointees, and assigns, and to wait upon and attend the reversion, freehold, and inheritance of the same premises. [Add a covenant by mortgagee that he has done no act to incumber, 89.] In witness, &c.

MORTGAGE OF LEASEHOLDS FOR YEARS.

This indenture, made, &c., between [the mort- Parties. gagor,] of, &c., of the one part, and [the mortgagee,] of, &c., of the other part. [Recite the original lease, (see p. 33,) and recite the mesne assignments, (or say, "by divers," &c., as in p. 32, showing the original lease and the last assignment ;) and recite the contract for the loan, see p. 26.] Now, this in- Testatum. denture witnesseth, that, in pursuance of the said agreement, and in consideration, &c., he, the said [mortgagor,] hath granted, bargained, sold, assigned, transferred, and set over, and by these presents doth, &c., unto the said [mortgagee,] his executors, administrators, and assigns, all, &c., comprised in and demised by the said recited indenture of, &c., and assigned to the said [mortgagor,] as aforesaid, with their and every of their appurtenances, and all the estate, right, title, interest, term, and terms of years yet to come and unexpired, property, claim, and demand whatsoever of him, the said [mortgagor,] of, in, or to the same, or any part of parcel thereof, both at law and in equity. To have and to hold the said, Habendum. &c., hereby assigned, or intended so to be, with their appurtenances, unto the said [mortgagee,] his executors, administrators, and assigns, for and during all the rest, residue, and remainder yet to come and un