THE HONGKONG GOVERNMENT GAZETTE, 26TH MAY, 1905.
conveyed is held, at the request and cost of the Purchaser do all acts and execute and sign all deeds and writings reasonably required for perfecting the Conveyance.
(b.) A covenant by the Purchaser with the Vendor (6) Pur- that the Purchaser will during the residue of the chaser to term of years created by the Crown Lease, licence pay rents, &c. or grant under which the property conveyed is held pay all rents payable in respect of the property conveyed, and will perform and observe all cove- uants and conditions so far as they relate to the property conveyed, contained in the said Crown Lease, licence or grant, and will indemnify the Vendor against the uon-payment of the said rents and the non-perf· rmance au 1 non-observance of the said covenants and conditions so far as aforesaid.
22. A Conveyance by way of Mortgage (when it is the Mortgages. intention of the parties that the Mortgagee shall not enter into possession until default is made in payment of the mortgage money) shall be made in form B in the Schedule hereto, and the following covenants and proviso shall be deemed to be included in every such mortgage :--
(a.) A covenant by the Mortgagor with the Mortgagee Implied cor-
that the Mortgager will on the stated day pay to enants: the Mortgagee the stated mortgage money, and () To par will, so long as the mortgage money or any part interest,
principal and thereof remains dne, pay to the Mortgagee interest thereon by equal Chinese calendar monthly pay- ments at the stated rate on the stated day of each mouth.
vey.
(b.) A covenant by the Mortgagor with the Mortgagee (6) Validity, that the Crown Lease, liceuce or grant under which of lease and the property conveyed is held is at the date of the right to con- Conveyance good valid and subsisting, and that the rent thereby reserved and the Lessee's covenants therein contained have been paid and performed up to the date of the Conveyance; AND that the Mortgagor has at the said date power to assign the property conveyed in manner therein expressed free from incumbrances except as therein mentioned.
(c.) A covenant by the Mortgagor with the Mortgagee (@) Quiet en- that the property conveyed may after default in joyment after payment of the monies intended to be secured by the default. mortgage be quietly entered into held and enjoyed
by the Mortgagee without any interruption by any
person.
any
(d.) A covenant by the Mortgagor with the Mort- (d) Further gagee that the Mortgagor and every person claiming assurance.
estate or interest in the property conveyed will at all times at the cost of the Mortgagor execute and do all such assurances and things for further or better assuring all or any of the property conveyed unto the Mortgagee as by him shall be reasonably required.
(e.) A covenant by the Mortgagor with the Mort- () Mortga-
gagce that the Mortgagor (until the Mortgagee gor to pay enters into possession of the property conveyed) rents, &c. will pay all rents payable in respect of the property conveyed, and will perform and observe all covenants and conditions, so far as they relate to the property conveyed, contained in the Crown Lease, licence or grant under which the property conveyed is held, and will indemnify the Mortgagee against the non-payment of the said rent and the non-perfor- mance and non-observance of the said covenants and conditions so far as aforesaid,
tion.
(f.) A proviso that if the Mortgagor on the stated (ƒ) Proviso
day pays to the Mortgagee the stated mortgage for redemp- money with interest in the meantime at the stated rate the Mortgagee will at any time thereafter at the request and cost of the Mortgagor release the property to the Mortgagor as in this Ordinance is provided.
23. In a Conveyance by way of mortgage in Form C Chinese in the Schedule hereto there shall be deemed to be included customary
the following further covenants and provisos in addition to mortgage. the covenauts contained in sub-sections (b) and (d) of Section 22 of this Ordinance :-
719
No comments yet.
Private notes are available after approval.