Page 4 Advertisements Column 1

Southland Times, Issue 1155, 29 October 1869, Page 4

Building and Land Society's Bulesdue; or if he shall become bankrupt or insolvent, or make any composition with or any assignment for the benefit of his creditors, then, and in either of these events,' the aforesaid Mortgagees, Trustees of the said Society, or their successors in office, shall be entitled, as and when they shall think fit, either to sell the aforesaid property in the manner hereinafter mentioned, or in their option to enter into possession of the lands hereby conveyed or intended so to be by way ot Mortgage ; to let and demise the same ; to uplift, receive, sue for, and recover the rents, issues, and profits thereof; and out of the sums so recovered, to pay all charges necessarily incurred in letting the premises, and receiving the rents, and in keeping the buildings on the premises in proper repair; and to »PPv the remainder towards ihe liquidation of all payments due to the said Society; and in either of the events aforesaid, or in the event of the said rents, issues, and profits, being insufficient to liquidate the aforesaid payments due to the said Society, it shall be lawful for the said Mortgagees as Trustee aforesaid, or their successors in office, to sell and dispose of the said lands and hereditaments by Public Auction, and to apply the net proceeds of such sale, after payment of all expanses incurred, towards the liquidation of all payments then due, or thereafter to become due, and payable to the said Society by the said Mortgagor, in respect of the aforesaid shares, or of the aforesaid premises, or in any other way whatsoever ; and to pay over the balance, if any then remaining, to the said Mortgagor, his Heirs, Executors, Administrators, or Assigns ; and if the net proceeds as aforesaid shall be insufficient fot the liquidation of all monies due or to become due to the said Society, as assured, he the said Mortgagor hereby binds himself, his Heirs, Executors, Administrators, or Assigns, to make good the deficiency. In Witness Whebeof, the said Mortgagor hath hereto subscribed his name the day and year first above written. Signed by the said Form C for Receipt and Discharge to be Endorsed on Mortgage. This Deed, made the day of 18 , EETWfEN the Trustees for the time being of the Western District Building anrl °Land Society of the one part, ' and the within-named of the other part ; WlTuesseth, that in consideration of all monies intended to be secured by the within-written Mortgage, registered No. having been paid, as they do hereby acknowledge, they, the said Trustees, do hereby release, convey, and assure unto the said All the withindescribed Hereditaments (a plan whereof is drawn , hereon), absolutely discharged from, the said mortgage arid all claims thereunder. IK WlTnkss Whebeof, the eaid Trustees have hereunto signed their names, the day and year first aforesaid. Signed by the said FOBM D FOB MOBTOAGB OF SHAKES. This deed made the day of vi the year of Our Lord, one thousand eight hundred and , betwf en of in the province of Southland in New Zealand, member of the Western District Building and Land Society, of the one part, and Trustees of the said Society of the other part, Witnesseth that in consideration of the sum of pn?-i hr ih 0 aaid as Trustees as aforesaid to the said (the receipt whereof is hereby acknowledged), He the said uoth hereby assign and transfer unto the said as such Trustees, All ( those shares of him the said in tbe said Western District Building and Land 'Society, and all the right, title, and ! interest of him the said of, in, and to the said shares to have and to hold the said shares with all benefit and advantage to arise therefrom unto the said as such Trustees as aforesaid absolutely. Provided always, and it is hereby expressly declared and agreed by arid between the said parties hereto, that if the said his executors, administrators, or assigns do and shall from time to time, and at all times, during the continuance of his or their interest in the said Society, in respect of the said shares, held by him, well and truly pay all the subscriptions, interest, payments, and redemption money, and other sums of money, and obsPTve and perform_a]l -the regulations on his and their parts to be respectively paid, observed, and performed accordingto the Rules of the Society, duly certified and deposited, in accordance with the provisions of the " Building and Land Societies Act, 1866, Amendment Act, 1867, and the Building and Laud Societies Amendment Act, 1869, in respect of the said shares held by him, then the assignments hereby made shall be null and void : Provided also that in case default shall be made in payment of all or any of the subscriptions, interest, and redemption money aforesaid, or in the observance and performance of all or any of the Kegulations on the part of the said his executors, administrators, or assigns, to be respectively paid, observed, and performed as aforesaid, or if the said his exei-uiors, administrators, or assigns shall become bankrupt or insolvent, or make any composition with or assignment for the benefit of his or their creditors, then, and in any suca case it shall be lawful for the said Trustees of the said Society, or their successors in office, to sell and dispose of the said shares hereby assigned, either by public auction or by private contract, and do, and shall stand possessed of, aid interested in all sums of money to arise from such sale or sales upon trust, in the first place to pay all costs and expenses which shall be incurred in effecting the said aa'e or sale 3as aforesaid, and in the next place do and shall pay all subscriptions, interest, and redemption money as may then be due and payable by the said to the said society, on account of the eaid shares, according to the said Rules, and after payment thereof to pay the residue and surplus (if any) to the said his executors, administrators, and assigns. And it i 3 hereby declared and agreed by and between the said parlies hereto, that for the purpose of carrying into execution the trust aforesaid, it shall be lawful for the said as such Trustees, or their successors in office, to make, do, and execute all Buch contracts, agreements, assignments, acts, matters ani things as shall be necessary, without any further consent or concurrence of the said And that the receipts of the said Trustees of the said Society, and their successors in office, for all or any such sum or sums of money which shall be paid and payable upon the sale of such shares, by virtue of these presents, shall be valid and sufficient discharges to tbe person or persons paying the sum. And said for himself, his heirs, executors, administrators, and assigns, hereby covenants, with the said Trustees of the said Society, and their successors in office, that he the said his executors, administrators, or assigns, shall and will well and truly pay, perform, and observe, respectively, the subscriptions, interest, and redemption money, and regulations which, under and by virtue of the said Rules of the said Society are or ought to be respectively paid, performed, and observed. In witness whereof, the said hath hereunto subscribed his name and affixed his seal. Signed, sealed, and delivered by the said 7 in the presence of $ PERUVIAN GUANO, £18 PER TON. M'PHERSON & GO, '