NEW TERRITORIES.
No. 34 of 1910.
1905
advantages accruing in respect thereof without in any way accounting to any person whatsoever in respect thereof, and without any interruption by any person until the time when such mortgage shall be redeemed.
rent and
(b) that the mortgagee will on demand refund to the mortgagor all sums paid by the latter on account of any Crown rent or taxes payable in respect of the property conveyed during the possession of the mortgagee, and that the mortgagee will during such possession indemnify the mortgagor against the non-performance and non-observance of the covenants and conditions, so far as they relate to the property conveyed, contained in the Crown lease, licence or grant under which such property is held.
(2) The following further provisoes shall also be deemed to be included:--
at end of
(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.
intention to
(b) that the mortgagor shall not be entitled to redeem the mortgage except on giving 3 months' notice in writing to the mortgagee of his intention so to do.
39. A transfer of mortgage made in form D in the 3rd schedule shall have effect as follows:-
(a) 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.
(b) all the estate and interest of the mortgagee in the mortgaged property shall vest in the transferee subject to redemption.
transfer of mortgage.
*
40.-(1) In any lease made in the form E in the 3rd schedule the following covenants by the lessee and lessor respectively shall be implied:-
Implied covenants:
* As amended by No. 50 of 1911.
As amended by No. 50 of 1911, No. 12 of 1912, No. 13 of 1912 and No. 43 of 1912 Supp. Sched.
+
NEW TERRITORIES.
No. 34 of 1910.
1905
advantages accruing in respect thereof without in any way account- ing to any person whatsoever in respect thereof, and without any interruption by any person until the time when such mortgage shall be redeemed.
rent and
(b) that the mortgagee will on demand refund to the mortgagor Refund all sums paid by the latter on account of any Crown rent or taxes of Crown payable in respect of the property conveyed during the possession indemnity, of the mortgagee, and that the mortgagee will during such posses- sion indemnify the mortgagor against the non-performance and non- observance of the covenants and conditions, so far as they relate to the property conveyed, contained in the Crown lease, licence or grant under which such property is held.
(2) The following further provisoes shall also be deemed to be included :--
at end of
(a) that on the mortgagor paying to the mortgagee the principal Redemption money (without interest) and all costs lawfully due to the mortgagee term. 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.
intention to
(b) that the mortgagor shall not be entitled to redeem the Notice of mortgage except on giving 3 months' notice in writing to the mort- redeem. gagee of his intention so to do.
39. A transfer of mortgage made in form D in the 3rd schedule Effect of shall have effect as follows:-
(a) 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 securi- ties 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.
(b) all the estate and interest of the mortgagee in the mortgaged property shall vest in the transferee subject to redemption.
transfer of mortgage.
*
40.-(1) In any lease made in the form E in the 3rd schedule the Leases. following covenants by the lessee and lessor respectively shall be covenants:
Implied implied :-
* As amended by No. 50 of 1911.
As amended by No. 50 of 1911, No. 12 of 1912, No. 13 of 1912
and No. 43 of 1912 Supp. Sched.
+
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