1904
Validity of lease and right to convey.
Quiet enjoy- ment after
default.
Further
assurance.
Mortgagor to pay rents, etc.
Proviso for redemption.
Chinese customary mortgage.
*
Implied covenant : Quiet enjoyment.
No. 34 of 1910.
NEW TERRITORIES.
(b) that the Crown lease, licence, or grant under which the property conveyed is held is at the date of the 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 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) that the property conveyed may after default in payment of the monies intended to be secured by the mortgage be quietly entered into, held and enjoyed by the mortgagee without any interruption by any person ;
(d) that the mortgagor and every person claiming any 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) that the mortgagor (until the mortgagee enters into possession of the property conveyed) 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-performance and non-observance of the said covenants and conditions so far as aforesaid.
(2) The following proviso shall also be deemed to be included :— that if the mortgagor on the stated day pays to the mortgagee the stated mortgage 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.
38.-(1) In a conveyance by way of mortgage in form C in the 3rd schedule there shall be deemed to be included the following further covenants between the mortgagor and the mortgagee :-
(a) that it shall be lawful for mortgagee, as from the date of the mortgage, if not receiving any interest on the mortgage money, to enter into possession of the property conveyed and thenceforth to quietly hold, occupy, enjoy, and take the same and all benefits and
* As amended by No. 50 of 1911, No. 12 of 1912, No. 13 of 1912 and No. 43 of 1912 Supp. Sched.
1904
Validity of lease and right to convey.
Quiet enjoy- ment after
default.
Further
assurance.
Mortgagor to pay rents, etc.
Proviso for redemption.
Chinese customary mortgage.
*
Implied covenant : Quiet enjoyment.
No. 34 of 1910.
NEW TERRITORIES.
(b) that the Crown lease, licence, or grant under which the pro- perty conveyed is held is at the date of the 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 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) that the property conveyed may after default in payment of the monies intended to be secured by the mortgage be quietly entered into, held and enjoyed by the mortgagee without any interruption by any person ;
(d) that the mortgagor and every person claiming any 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) that the mortgagor (until the mortgagee enters into possession of the property conveyed) 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-performance and non- observance of the said covenants and conditions so far as aforesaid.
(2) The following proviso shall also be deemed to be included :— that if the mortgagor on the stated day pays to the mortgagee the stated mortgage 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.
38.-(1) In a conveyance by way of mortgage in form C in the 3rd schedule there shall be deemed to be included the following further covenants between the mortgagor and the mortgagee :-
(a) that it shall be lawful for mortgagee, as from the date of the mortgage, if not receiving any interest on the mortgage money, to enter into possession of the property conveyed and thenceforth to quietly hold, occupy, enjoy, and take the same and all benefits and
* As amended by No. 50 of 1911, No. 12 of 1912, No. 13 of 1912
and No. 43 of 1912 Supp. Sched.
!
No comments yet.
Private notes are available after approval.