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vances, payments, engagements, and accommodations, not exceeding the sum of L.5000 in the whole, together with interest for such sum and sums of money as they or any of them shall from time to time advance, &c., and other expenses and commission as usually charged, and shall indemnify and save harmless the said, &c., and the survivors or survivor of them, the said, &c., then, &c.

Now,a &c., that if the said [mortgagor,] his heirs, (A mortgage executors, administrators, and assigns, do and shall bond.) well and truly pay, or cause to be paid, unto the said (mortgagee,) his executors, administrators, or assigns, the sum of, &c., on, &c., (take this from the covenant in the mortgage deed, and if the condition of the bond is without recitals, say, “according to the tenor, true intent, and meaning of a certain indenture of, &c., bearing even date herewith, and made, or expressed to be made, between," &c.; but if the deed has been recited, which is the better way, say, ing the same days and times as are appointed in or by the said in part recited indenture of release, (or demise,) for the payment of the same,”] and do and shall make all and every the said payments without any deduction or abatement whatsoever, (as stated in the deed,) then, &c.

Now, the condition,b &c., that if the above-bounden (Condition of A. B., his heirs, &c., do and shall well and truly pay, the purchaser or cause to be paid, unto the said (mortgagee,) his of an equity of executors, &c., the said principal sum of, &c., with all redemption to

indemnify

mortgagor.) · Mortgage bonds are now rarely used, as they increase expense without adding to the security.

Recite the mortgage, and that “the principal sum of, &c., still remains due upon the said security, but that all interest for the same hath been paid up to,” &c.; and recite the conveyance of the equity of redemption (and sion,” if the mortgage was mise) to the (obligor,) and that “the said (obligor) hath agreed to enter into the abovewritten obligation for payment of the said sum of, &c., and interest, and to indemnify the said (mortgagor) therefrom, in manner hereinafter mentioned.”

a bond from

the

b

rever

Recital.

(Condition of interest to grow due or become payable thereupon, a bond from in full satisfaction and discharge of the said in part the purchaser recited mortgage, and the covenant therein contain

an redemption ed on the part of the said (obligee) for payment of to indemnify the same; and of and from the same, and every part mortgagor.)

thereof, and also all and all manner of actions, suits, claims, and demands whatsoever, as well in law as in equity, and otherwise, of, from, or by the said (mortgagee,) his executors, administrators, or assigns, for or by reason or in respect of the same, or any part thereof, in anywise howsoever, and all costs, charges, damages, and expenses whatsoever, by reason or in relation thereto, do and shall well and ef. fectually save harmless and keep indemnified him, the said (obligee,) his heirs, executors, administra

tors, and assigns, henceforth and for ever; then, &c. (Annuity Whereas the said A. B., some time since, advanced bond.)

and lent to the said C. D. the sum of, &c., of lawful money of Great Britain, which he, the said C. D., doth hereby admit and acknowledge. And whereas the said Č. D. hath, in consideration of the sum of L. so as aforesaid advanced to him by the said A. B., agreed to grant to the said A. B. one annuity or yearly sum of L.

to be paid to him during the term of his natural life, at the time and in manner hereinafter mentioned. Now, the condition of the above-written obligation is such, that if the said C. D., his heirs, executors, or administrators, do well and truly pay, or cause to be paid, unto the said A. B. or his assigns, one annuity, or clear yearly sum of L.

of lawful money of Great Britain, by even and equal quarterly payments, on the 25th day of March, &c., in each and every year during the natural life of the said A. B., without any deduction or abatement whatsoever, the first of such quarterly payments to become due and be made on the 25th day of March next ensuing the date hereof; and also if the said C. D., his heirs, executors, or adıninistrators, do and shall, within twenty-one days next after the decease of the said A. B., well and truly

Condition.

Recital.

pay, or cause to be paid, unto the executors or ad- (Annuity ministrators of the said A. B. a proportional part of bond.) the said annuity of L. for the time which, at the decease of the said A. B., shall have elapsed of the quarterly payment thereof then growing due, without any deduction or abatement whatsoever ; then this obligation shall be void and of none effects or else to remain in full force and virtue. Whereas the above-named A. B. hath contracted (Post-obit

bond.) and agreed with the above-bounden C. D. for the purchase of the sum of L. to be paid to her, the said A. B., her executors, administrators, or assigns, in the event of E. F. departing this life in the lifetime of the said C. D., but not otherwise, at or for the price or sum of, &c. And whereas, in performance of the said recited contract, she, the said A. B., hath paid the sum of, &c., of lawful money of Great Britain, unto the said C. D., at or before the sealing and delivery of the above-written obligation, the receipt and payment whereof accordingly the said C. D. doth hereby accordingly acknowledge. And whereas, upon the treaty for the purchase of the said contingent sum of L. it was agreed that the payment thereof should be secured by (among other securities) the bond of the said C. D.

• Where it is a loan, the recital may be thus : “ Whereas the above-bounden (obligor) is in expectation of receiving a considerable sum of money and other property, upon the decease of, &c., his father. And whereas the said (obligor) is now of the age of

years, or thereabouts; and the said father is of the age of, &c., or thereabouts, and in good health. And whereas the said (obligor) having occasion for the sum of L. to supply his iminediate occasions, hath applied to the said (obligee) to lend him the same upon his entering into the above-written obligation, together with a warrant of attorney for entering up judgment, as hereinafter is mentioned.” (As to the validity of these bonds, see Wharton v. May, 5 Ves. 27 ; Lushington v. Waller, 2 Hen. Black. 95; Bernall v. Marquess of Donegal, 3 Dow, 133 ; Curting v. Marquess of Townshend, 19 Ves. 628; Murray v. Stair, 2 Bar. and Cress. 82, 83; Dow and Ryl. 278.)

an arbitration

(Post-obit, Now, the condition of the above-written obligation bond.)

is such, that if, in the event of the said E. F. departCondition.

ing this life in the lifetime of the said C. D., the said C. D., his heirs, executors, or administrators, do and shall well and truly pay, or cause to be paid, unto the said A. B., her executors, administrators, or assigns, within six calendar months next after the decease of the said E. F. aforesaid, in the lifetime of the said C. D., the sum of, &c., of lawful money of Great Britain; or in case the said C. D. shall happen to depart this life in the lifetime of the said E. F.;

then, &c. (Condition of

Whereas certain differences and disputes have bond.)

arisen, and are now depending between the abovebounden A. B. and the said C. D., respecting, &c.; and it has been agreed by and between the said A.B. and the said C. Ď. to refer the same to R. S. and T. W. as arbitrators, as also all and all manner of action and actions, cause and causes of action, suits, bills, bonds, specialties, judgments, executions, extents, quarrels, controversies, trespasses, damages, and demands whatsoever, both at law and in equity, or otherwise howsoever, which at any time or times heretofore have been had, made, moved, brought, commenced, sued, prosecuted, done, suffered, committed, or depending, by and between the said parties, with liberty to the said arbitrators to appoint, choose, and name an umpire. And whereas it hath been agreed that this submission shall or may be made a rule of her Majesty's court of, &c., at West

minster, pursuant to the statute in such case made Witnesses to and provided. And it has been further agreed, that be examined the witnesses, as well of him, the said A. B., as of on oath.

the said C. D., shall be examined on oath by the said referees or their umpire, as aforesaid, touching the matters in difference between the said parties. And that the costs, charges, and expenses, as well of preparing and executing these presents, as of the

* See Agreements for Reference, p. 227.

an arbitration bond.)

reference hereby intended to be made, and of all (Condition of costs, charges, and expenses incidental or relating thereto, (and likewise the costs and charges of the said action,) shall be in the discretion of the said referees, or the said umpire so to be elected as aforesaid, who shall, in their or his award or umpirage, order and direct by which of the said parties, or in what proportion between them, the same shall be borne, and when paid. Now, the condition of Condition.

a

The following are the usual indorsements :

We, the undersigned A. B. and C. D., the referees (Memoranwithin-named and appointed, do hereby accept of the ap- dum written pointment as arbitrators, for the purposes therein expressed ; on the bond

of the acceptand for the proceeding in the investigation of the matters in

ance of the apdispute and difference between the parties in difference with- pointment in-mentioned, we appoint and fix to meet at the house of of arbitraE. F., in, &c., by 11 o'clock in the forenoon. Witness our tors.) hands, this Ist day of May 184 .”.

“We, A. B. and C. D., the arbitrators within-named, by (Memoranthis memorandum in writing, under our hands, made before dum of an the entering upon the within-mentioned arbitration, do here- appointment by nominate and appoint E. F., of, &c., the third arbitrator, bitrator, into whom, together with ourselves, the within-mentioned dorsed or matters in dispute between the parties within-named are re- written upon ferred, according to the tenor and effect of the within rule, bond, or or within-written bond, or obligation, or indenture.".

If the consent of the third person bas not been obtained, tration.) add, “On condition that he do, within days from the date hereof, by some writing under his hand, consent to act therein accordingly.”

“We, the undersigned A. B. and C. D., the arbitrators A memoranwithin-named, having considered of the said matters in dif- dum indorsed ference between the said parties, and having heard what on bond of each of them had to offer and allege in his behalf, but not of umpire by having agreed in opinion in relation to the same, so as to arbitrators, enable us to make an award between the said parties in dif- when one is ference, do hereby, in pursuance of the power and direction not nominated given to us by the within-written agreement, elect, nomi- in bond. nate, and appoint E. F., of, &c., to be umpire between the said parties in relation to the matters in difference between them as aforesaid. As witness,” &c.

“Know all men by these presents, that we, the within-nam

other instrument of arbi.

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