New Territories.
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.
[39]
[CAP. 97
32. (1) In any lease made in Form E in the Schedule, Leases. the following covenants by the lessee and lessor respectively Sched. Form E. shall be implied-
Implied provisions:
covenants,
(a) by the lessee, at all times during the continuance (1) Lessee's
of 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;
covenant.
(b) by the lessor, to permit the lessee, and those (2) Lessor's
deriving title from or under him, to enter into and upon, or receive, and thenceforth quietly hold and enjoy, or take the subject-matter expressed to be leased during the continuance of the term or tenancy, so long as the lessee performs all the covenants, agreements and conditions contained in such lease and on his part to be observed and performed.
(2) The following shall also be deemed to be included-
tion.
(a) a reservation for the lessor of the right at all times (3) Reserva-
in the daytime, by himself or his agents, to enter into and upon the said premises for the purpose of inspecting the same;
for re-entry.
(b) a proviso that the lessor, or person deriving title (4) Proviso
under him, may, in the event of the rent or any part thereof being in arrear for the space of twenty-one days after any of the days on which it ought to be paid, or on the breach by the lessee of any covenant,
79
New Territories.
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.
[39]
[CAP. 97
32. (1) In any lease made in Form E in the Schedule, Leases. the following covenants by the lessee and lessor respectively Sched. Form E. shall be implied-
Implied provisions:
covenants,
(a) by the lessee, at all times during the continuance (1) Lessee's
of 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;
covenant.
(b) by the lessor, to permit the lessee, and those (2) Lessor's
deriving title from or under him, to enter into and upon, or receive, and thenceforth quietly hold and enjoy, or take the subject-matter expressed to be leased during the continuance of the term or tenancy, so long as the lessee performs all the covenants, agreements and conditions contained in such lease and on his part to be observed and performed.
(2) The following shall also be deemed to be included-
tion.
(a) a reservation for the lessor of the right at all times (3) Reserva-
in the daytime, by himself or his agents, to enter into and upon the said premises for the purpose of inspecting the same;
for re-entry.
(b) a proviso that the lessor, or person deriving title (4) Proviso
under him, may, in the event of the rent or any part thereof being in arrear for the space of twenty-one days after any of the days on which it ought to be paid, or on the breach by the lessee of any covenant,
79
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