1844
Redemption
at end of
terni.
Notice of intention to redeem.
Effect of transfer of mortgage.
*
Schedule. Form D.
Leases. Implied
Covenants :
*
Schedule.
Form E.
To pay rent
at end of
term.
No. 34 of 1910. NEW TERRITORIES REGULATION.
(a) that on the mortgagor paying to the mortgagee the principal money (without interest) and all costs lawfully due to the mortgagee in respect of the mortgage, the mortgagee will at the request and cost of the mortgagor release the mortgaged property to the mortgagor as in this Ordinance is provided;
(b) that the mortgagor shall not be entitled to redeem the mortgage except on giving three months' notice in writing to the mortgagee of his intention so to do.
39. A transfer of mortgage made in Form D in the Schedule shall have effect as follows:-
(1) there shall be vested in the person to whom the mortgage is expressed to be transferred (hereinafter called the transferee) the right to demand, sue for, recover, and give receipts for the mortgage money or the unpaid part thereof, and interest (if any) due thereon and thenceforth to become due thereon, and the benefit of all securities for the same, and the benefit of and the right to sue on all covenants with the mortgagee, and the right to exercise all the powers of the mortgagee.
(2) all the estate and interest of the mortgagee in the mortgaged property shall vest in the transferee subject to redemption.
40. (1) In any lease made in Form E in the Schedule, the following covenants by the lessee and lessor respectively shall be implied :--
(a) by the lessee, at all times during the continuance of and yield up the lease, to pay the rent at the time, and in the manner in which such rent is stated to be payable in the lease, and all rates, taxes, and assessments payable in respect thereof, except as otherwise expressly stated, and to keep and deliver up the said premises to the lessor or persons deriving title under him at the expiration or sooner determination of the term or tenancy in good order and condition according to the custom of the country;
Quiet enjoyment.
(b) by the lessor, to permit the lessee, and those deriving title from or under him, to enter into and upon, or receive, and thenceforth quietly hold and enjoy, or take the subject-
*As amended by Law Rev. Ord., 1921.
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