Page 4 Advertisements Column 5

Southland Times, Issue 1158, 3 November 1869, Page 4

Building 1 and Land Society's Rulesdue; or if h* 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 Mortgages, Trustees of the said Society, or their successors in office, shall be entitled, as and when they shall think fit, either to sell the aforesai.l property in the manner hereinafter mentioned, or in their option to enter into pbssession of the lands hereby conveyed or intended so to be by way of 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 buildingß on the premises in proper repair; and to apply the remainder towards the 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, aud to apply the net proceeds of such sale, after payment of all expenses 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, '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 said Bociety, as assured, he the said Mortgagor hereby binds himself, his Heirs, Executors, Administrators, or Assigns, to make good the deficiency. In Witness Whbbeop, 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 , 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 ; Witnesseth, 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 and all claims thereunder. In Witness Whebeop, the said Trustees have hereunto signed their names, the day and year first aforesaid. Signed by the flaid FOEM D FOB MOBTOAG-B OP BHABSB. This deed made the day Pf « the year of Our Lord, one thousand eighi hundred and , betwf en pi in the province of Southland in New Zealand, member of the Western District Building and Land Society; of the one partj and' Trustees of the Baid Society of the other part, Witnesseth that ir consideration of the sum of paid by the said as Trustees as aforesaid to the said (the receipt whereol s hereby acknowledged), He the said I doth hereby assign and transfer unto the i said as such Trustees, AU those shares of him the said . in the 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 expresslj 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 bis or their interest it the said Society, in 'respect of the said shares, held by him, well and truly paj all the subscriptions, interest,, payments, an* redemption money, and other sums of money : , and observe and perform all the regulations ob his and their parts to be respectively paid; pb; served, and performed according to the Rules of the 9ociety, du!y certified and deposited," ia' accordance with the provisions of the " Building 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, 'thet the assignments hereby made • shall be null and vbid : Provided also that incase default shall be made in payment of all or any of the subscriptions, interest, and redemption monej aforesaid, or in the observance and performance of all or any of the Regulations on the part of the said % hia executors, administrators, or assigns, to be jespectively paid, observed,- and performed as aforesaid, or if the Baid }j his executors, administrators, or assigns shall ! become bankrupt or insolvent, or 'make ' any 1 composition with or assignment for the benefit of his or their creditors, then, and in any such 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 here, by assigned, either by public auction or by private contract, arid do; and shall stand ■ possessed ofj and 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 in. eurred in effecting the said sate 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, and after payment thereof to pay the residue and surplus (if any) to the said his executors, administrators, and assigns. And it is hereby declared and agreed by and between the said parties hereto, that for the purpose of carrying into execution the trust aforesaid, it shall be lawful for thei, said ( as such Trustees, or their successors in office, to make, do, and execute_ all such _ contracts, agreements, assignments, acts, matters 'and things as shall be necessary, without any further "consent or 'concurrence of the said . And that the receipts .pf the said . Trustees pi the said Society, and their ; successors in office, for all or any such' sum Jor aums of money which shall be paid and payable upon the sale of such shares', by virtue of these presents, shall be valid and. , sufficient dischargee 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, adminu' trators, or assigns, shall and will well and truly pay, perform, and observe, respdc* tively, 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 "> in the, presence of . . j THE SOUTHLAND TIMES MACHINE PBINTING OFFICE. Ail kinds of Fancy Work ia gold, bronze; and tolors, at the shortest notices 1 . BAIN A CO.