Page 4 Advertisements Column 1

Southland Times, Issue 1157, 1 November 1869, Page 4

•Building and Land Society's Riiles. due- or if ho shall become bankrupt or insolvent, or male any composition with or any assignment for the benefit of his creditors, then, and in either of these events, tho aforesaid Mortgasees, Trustees of the s. id 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 J 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 t] uplift, receive, sue for, and recover the rents, i^ues, and profits thereof; and out of the sums j so .recovered, to pay all charges necessarily incurred in letti-g the premises, and receiving n the rents, and in keeping the buildings on the premise* in proper repair ; and to apply the & remainder towards ihe liquidation of nil payments due to the said Society; and m either ot fl the events aforesaid, or in the event of the said r.'nrs, issues, and profits, being insufficient to a liquidate the aforesaid payments due to the said Soe>ety, it shall be lawful for the said Mortgagees as Trustee aforesaid, or their successors in office, to se^l end 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 theieafter 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 pny over the balance, if any then remaining, to the eaid Mortgagor, hia Heirs, Executors, Administrators, or Assigns ; and if the net proceeds as aforesaid shall be insufficient for the liquidation of all monies due or to become due to the-snid Society, as assured, he the said Mortgagor hereby binds himself, his Heirs, Executory Administrators, or Assigns, to mnko good the deficiency. In Witxess Whkbeof, the said Mortgagor h»th hereto subscribed his name the day and rear first above written. Signed by the said Form C for Keceipt and Discharge to he Endorsed on Mortgage. This Deed, made the day of 18 , Between the Trustees for the time being of the Western District Building and "Land Society of the one part, and the within-named of the other part; WlT-jjissi-TH, 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 AH the withiudescribed Hereditaments (a plan whereof is drawn hereon), absolutely discharged from, the t>aid mortgage a*.d all claims thereunder. In Wrrhess Weebeof, the said Trustees have hereunto signed their names, the day and year first aforesaid. Signed by the said FOB3I D FOB MOBTGkIGB Or SHAKES. This deed made the day of in the year of Our Lord, one thousand eight hundred and .betwfen 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 Bum of t)oiVl by the said as Trustees as aforesaid to the said (the receipt whereof s hereby acknowledged), He the said aoth hereby assign and transfer unto the sa i u as such Trustees, All those shares of him the said in tbo 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 and 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 Baid shares, held by him, well and truly pay all the subscriptions, interest, payments, and redemption money, and other sums of money, and ohs rveand perform all the regulations oa his and their parts to be respectively paid, observed, andperiormed according to the Rules of the Society, du!y certified and deposited, in accordance with the provisory of the " Build ng and Land societies Act, 1866, Amendment Act, 1867, and the Building and Land Societies Amendment Act, 1869, in respect of the said shares held by him, then the assignments hertby made shall be null ana void : Provided also that in case default shall be made in payment of all or any of the subscri) tions, interest, and redemption money aforesaid, or in the observance and performance of all or any of the Regulations on the part of the said . hii executors, administrators, or assigns, to be respectively paid, observed, and performed as aforesaid, or if the said his executors, 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 such case it shall be lawiul for tho saiJ Trustees of the said Society, or their successors in office, to sell and dispose of the said thares hereby assigned, either by public auction or by private contract, and do, aud shall stand possessed of, and interested in alisuma of money to ariae from such sale or sales upon trust, in the first place to pay all costs and expenses which shall be in. curred in effecting the said «a)e or sales as 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 said shares, according to the said Rules, aud after payment thereof to pay the residue and surplus (if any) to the said his executor*, administrators, and assigns. And it is 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 such contracts, agreements, assignments, acts, matters an.l things as shall be necessary, without any further consent or concurrence of the said And tfaat the receipts of the said Trustees o( 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, shali be valid and sufficient discharges to the 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 s.iiii hath hereunto subscribed his name and affixed his seal. Signed, sealed, and delivered by ihe said "^ in the presence of 3 PERUVIAN GUANO, £18 PER TON. M'PHEBrSQN & CO.