Convey ance in bargained sold aliened and reld and by these presents Doth, &c. grant, &c. All those messes, &c. togr with Trust for all houses, &c. (all which messes, &c. are in the actual Creditors. posson, &c. see Release) And the revn, &c. And all the este, &c. of him the sd (D) in to, &c. (togr with all deeds, &c. see Release) To Have and to Hold the sd messes lds and heredts and all and singr or. the presses hby granted and reld or intended so to be unto the sd (trustees) their hrs and ass for ever (a) but nevss upon the trusts and to and for the ends intents and purps and under and subject to the powers provos declons and agrts hnaftr decld or expssd concerning the same (b) that is to say, Upon Trust that they the sd (T) or the survors (c) or survor of them or the hrs exs or ads of such survor or any atty (d) or atties by them or him duly authorized do and shall witht any further or or. consent and concurrence of the sd (D) his hrs exs or ads immly or at any time or times after the sealing and delivery of these prests make sale or mortgage of all the sd messes and tents lds heredts and presses hby granted and reld or orwise assured or intended so to be or any of them or any pt or pts thof as they shall think fit either togr and in one lot or pcl or in separate lots and pcls and either by public sale or private contract or ptly by public sale and ptly by private contract and for such price or prices sum or sums of money as the sd (T) or the survors, &c. shall think fit with full power to buy in all or any pt of the sd heredts and preses which shall have been put up to sale by public auction and to resell or offer them again Power to sell or mortgage. Hath directed limited and appointed and by this present deed or writing by him the sd (D) signed scaled and delivered in the presence of and attested by the two credible witnesses whose names are intended to be hereupon written or endorsed as witnesses to the exon thof by the sd (D) doth direct limit and appt That all, &c. (describe parcels) togr with all houses, &c. (see Release) and the revn, &c. shall henceforth be and remain to the use of the sd (7) their hrs and ass for ever but nevss upon the trusts, &c. And this Indre furr Witnesseth That for the consons afd and also in conson of 5s. to the sd (D) or, if there be a dower, trustee to the sd (D and T) by the sd (7) in, &c. pd the rect, &c. He the sd (D) Hath (or, they the sd D and T Have and each of them Hath') granted bargained, &c.' (see above). (a) If the debtor be tenant in tail, and there be no protector, it may be sufficient to say, freed and absolutely discharged from all estes tail.' As to the declaration to bar dower, see Dower and Fines and Recoveries. (b) If there be copyholds, then add, by a further testatum, a covenant to surrender. See Conveyance in Trust to sell. (c) As to the necessity of the words, ' survivors, &c. 'see Obs. 2. () As to the propriety of this clause, see Obs. 3. Convey ance in trust for Creditors. rents until sale. to sale in all or any of the modes afd witht being liable in any of the sd cases to answer for any loss or diminution in price which may happen thby and also to mortgage the sd heredts and preses or any of them or any pt thof and at any time thereaftr to sell and absolutely dispose of the heredts so mtged (a) or any pt thof either subject to the sd mtges or discharged therefrom And also with like power and authty to convey and assure to any psn or psns who shall become the purchaser or purchasers mortgagee or mortgagees of the sd messes or any pt thof in such manner and form as he or they shall direct or appt And in the mean time and until such sale or or. disposition shall be made and as to such parts as remain unsold or undisposed of Upon trust that they the sd (T) or the survor, &c. do and shall enter into and upon all and To receive singr the same heredts and preses and rece and take the rents issues and growing proceeds and also all arrears of rent and all and evy sum and sums of money which are now due to the sd (D) from all and evy the lessee or lessees of the sd (D) (b) And Contracts it is hby decld and agreed by and betn the pties hereto entered into that all contracts agrts mtges sales dispositions and by trustees conveyances acts deeds matters and things whatsr which shall or may be entered into made done or exted by the sd (T) or the survors, &c. shall be as valid as if he the sd (D) had joined or concurred in the same and that the psn or psns to whom the sd heredts and preses or any pt thof shall or may be conveyed shall have hold and enjoy the same agst the sd (D) his exs and ads and all and evy or. psn or psns lfully claiming or possessing any este right or title from through or under him And (c) it is hby furr agrd and decld by and Trustees betn the sd pties hereto so far as they are resply in- receipts to terested or concerned that the rect and rects of the sd be valid discharges. (T) or the survors, &c. shall be a good discharge and good discharges to any purchaser or purchasers mortgagee or mortgagees lessee or lessees or any of them for so much as shall be therein expssd or ackngd to be reed And that all psns paying the same shall not aftwds be answe or accountable for the loss misapplication or nonapplication thof or of any pt thof And it is Declaration hby furr decld and agrd that the sd (T) and the survors, of trusts. &c. shall stand possessed of and be interested in all (a) As to the propriety of this latter clause, see Obs. 4. (b) If there be arrears of rent, add, if necessary an assignment of the rent by a further testatum and a power of attorney, see Conveyance in Trust to sell. (c) As to the necessity of this clause, see Obs. 5, 6. to be valid. ance in Covenants for title. Seised in fee. Convey- and evy the sum and sums of money which shall or may arise or come to their hands by any sale or disposition trust for and out of the rents issues or or. proceeds thof Upon Creditors. the sevl trusts and to and for the sevl ends intents and purps and under and subject to the sevl provos restrictions declons and agrts which are (a) decld contd and expssed of or concerning the same in or by a certain indre bearing even date with these prests and made betn the sd (D) of the first pt the sd (T) of the second pt and the sevl or. psns therein named as crs of the sd (D) of the third pt (b) And the sd (D) for himself his hrs exs and ads doth hby covt with and to the sd (T) their hrs exs and ads in manner following, &c. That for and notwithstanding any act, &c. heretofore made, &c. by the sd (D) he the sd (D) is seised, &c. (see Release) without any manner of condon limitation, &c. which can or may revoke, &c. or prejudicially affect the same in any manner howsr (leases and agrts for leases of which counterparts have been produced unto Good right the sd trustees excepted) And also for and notwithto convey. standing, &c. he the sd (D) has good right to convey unto the sd trustees, &c. And furr that until the sd trust preses shall resply be sold or disposed of in pursuance of the trusts hnbefe decld for that purpe the same and evy pt thof shall be and remain to the uses upon the trusts and for the ends intents and purps hnbefe decld of and concerning the same and be holden and enjoyed and the rents issues and prfts thof recd taken and applied accly And from and immly after any such sale and disposition shall be made and conveyances exted thof it shall be Iful for the purchaser or purchasers Quiet enjoyment. (a) Where the trusts are declared in the same deed, see Conveyance in Trust to sell, and also Assignments in Trust. 6 (b) If necessary, add, ' And the sd (D) doth hby for himself and his hrs declare and direct that immediately upon the exon of these prests and until the trusts hnbefe referred to shall have been fully exted all the este right title and int of him the sd (D) in and to the sd heredts and preses hby granted and reld or orwise assured or intended so to be and also the rents issues and growing proceeds thof until the same shall be sold or disposed of upon the trusts hnbefe contd shall as and betn the psnl reptives of him the sd (D) be considered as and in the nature of psnl este and belong and go to his exs and ads Subject to the trusts afd in preference to and exclusion of his hrs at law although no sale thof shall have been made during the lifetime of him the sd (D)' This provision, so far as regards creditors, appears to be now rendered unnecessary by the 3 and 4 W. IV. c. 104, which makes real property, assets for the payment of debts. See Appendix. Where there is a dower trustec, he must first covenant, that he has done no act to encumber; and afterwards join with the debtor in the other covenants. See Purchase Deeds, and Index. As to the variations, where the wife is a party, or the debtor is tenant in tail, see Fines and Recoveries, and İndex. Convey ance in trust for Creditors. mortgagee or mortgagees his or their hrs exs ads or ass from time to time and at all times thereafter peaceably and quietly to enter into and upon and hold possess and enjoy all and singr the same heredts and preses with their respive rights members and apts to and for his and their own use and bent And that free and clear, &c. and absolutely discharged and exonerated Free from or orwise by and at the expense of the sd (D) his hrs incumbrances. exs and ads effectually defended protected and indemnified of from and agst, &c. (see Release) And furr that neither he nor any or. psns lfully claiming or to claim by from or under him shall or will at any time hrafter make do exte commit or willingly suffer any act matter or thing whby or by reason whereof the exon or performance of the trusts hby expssed or decld shall or may be defeated prevented or hindered from taking effect according to the true intent and meaning of these prests nor revoke or make void any Nor revoke of the powers or authties hereby given or which powers. shall or may hraftr be given to the sd (T) nor rece discharge compound sue for or intermeddle with any of the rents issues or prfts nor disavow nor discontinue or become nonsuit in any action or suit to be brought in respect thof nor act or interfere in or about the preses afd or any of them orwise than the sd (T) or the trustee or trustees for the time being shall require concerning the same And that all and singr the sd heredts and preses and all or. the este and effects of the sd (D) shall be holden and enjoyed by the sd (T) or the trustee or trustees for the time being witht the let suit interruption or disturbance of the sd (D) his exs or ads or any or. psn or psns claiming or to claim by from through under or in trust for him or thèm And furr that he the sd (D) his hrs exs or ads shall and will at all times at the request of the sd trustee or trustees for the time being be aiding and assisting him or them in the trusts afd and shall and will satisfy and confirm all and whatsr they or any of them shall lfully do or cause to be done in or about the same And lastly that he the sd (D) his exs ads and ass and all and evy or. psn or psns rightfully claiming or possessing any este right title charge or int at law or in equity in to out of upon or respecting the heredts and preses hby granted and reld or orwise assured or intended so to be or any pt thof from through under or in trust for him them or either of them (or. than psns claiming or entitled under or by virtue of such leases or agrts as afd) shall and will from time to time upon evy reasone request of the sd trustee or trustees for the time being but at the proper Trust Deed. costs and chas of the sd (D) his exs or ads make do exte and perform all and evy such furr and or. acts deeds matters and things as shall be necessary for the furr better more perfectly and satisfactorily granting releasing confirming and assuring the same heredts and preses and evy and any pt thof with their respive rights members and apts unto and to the use of the sd (T) their hrs and ass upon and for the trusts ends intents and purps hnbefe expssd and decld of and concerning the same in such manner and form as they the sd (T) or the trustee or trustees for the time being or the purchaser or purchasers or mortgagee or mortgagees his or their counsel in the law shall reasonably Trust deed. devise advise or require Provided always nevss that the concurrence or assent of him the sd (D) his hrs or exs &c. in or to any conveyance assignment or assurance to any purchaser or mtgee or or. psn to whom the same heredts and presses or any pt thof shall be sold or disposed of or intended so to be conveyed or assured shall not in anywise be deemed requisite to give effect to the same. (a) In Witness, &c. Liability of trustees. Reimburse-. ment to trustees. Recital of business carried on in partnership. Of carrying on business. . A Trust Deed for the Benefit of Creditors, to accompany Obs. 1. As to the effect of this deed, see Pref. § 10, and Obs. last Precedent; and as to the stamp, see § 11. 2. Trustees are not chargeable for the acts or receipts of one another; and although there are not negative words in a deed to that effect, yet courts of equity will not make them liable; but if they will bind themselves, the court will not relieve them, especially in a case of composition of debts; Leigh v. Barry, 3 Atk. 582. 3. Although trustees are entitled to all fair allowances for what they have actually expended, yet the usual clause for reimbursement is very necessary, particularly when the cestuique trust aliens the estate; Trott v. Dawson, 1 P. Wms. 779; 7 B. P. C. 266. This Indre made, &c. Betn (debtors) of, &c. bankers and coptnrs of the first pt (trustees) of, &c. of the second pt and the sevl persons creditors of the sd (D) whose names and seals are hereunto set and affixed of the third pt Whas the sd (D) lately carried on the business of bankers as afd under the firm of, &c. And whas the sd (D) became and now are indebted on their sd ptnshp acct unto the sd sevl psns pties to these prests of the third pt in several sums of money or engagements to replace Bk stock or or. property And the sd (D) are also sevlly indebted on their own private and (a) Where the debtor is a tenant in tail, and there is an unconsenting protector, a covenant to perfect title must be added, see Fines and Recoveries. If the debtor be a tenant for life, or it be necessary on any account to insure his life, add a covenant to that effect, see Annuity, p. 80. |