Inventory

Suitable Charge - 26 March 1900

Dated 26th March 1900

Henry Kerby Esq.

to

J. E Ford Esq.

SUITABLE CHARGE

on freehold hereditments and

premises situate at Devonshire

Hill Tottenham in the County of

Middlesex to secure £1000= 0= 0

and further advances

Memorandum of Agreement made this twenty sixth day of March One thousand nine hundred Between HENRY KERBY of 4 Lancaster Place Strand in the County of London Solicitor (hereinafter called the Mortgagor of the one part and JOHN EDWARD FORD of 1 Westbourne Gardens Porchester Square in the County of London (hereinafter called the Mortgagor) of the other part

Whereas the Mortgagor is seized in fee simple in possession of the hereditments and premises hereinafter described subject only to an Indenture of Mortgage of even date and made between the same persons as are parties to these presents for securing the repayment to the Mortgagee of the sum of Fifteen thousand pounds and interest thereon after the sale of Four pounds per cent per annum

And Whereas the Mortgagor has commenced the erection of twenty five houses and other buildings and erections on the said piece of land the locations plans and specifications of which have been approved by the Surveyor to the Mortgagee (hereinafter referred to as the Surveyor)

And whereas in view of the said building operations it was and is desirable that the tithe rent and land tax upon the said hereditments and premises should be redeemed

And whereas the Mortgagor has caused the said tithe rent charge to be redeemed and proposes to redeem the said land tax

And whereas in order to make the necessary roads for opening up the said premises it will be necessary to acquire certain waste land

And whereas in order to obtain a water supply for the said houses it is anticipated that the Mortgagor may have to contribute towards the expense of laying down the necessary mains or in the alternative sink wells and lay down plant and pipes for supplying the estate with water

And whereas the said redemption of the tithe rent charge charge and land tax and the acquisition of the said waste land and the provision for a proper water supply will constitute permanent improvements to the estate

And whereas the Mortgagor has requested the Mortgagee to lend to him certain monies not exceeding Five thousand pounds in all for the purpose of assisting and enabling him to complete the said houses and other buildings and to carry out the above mentioned improvements which the Mortgagee has agreed to do upon having the repayment of the same secured to him in manner hereinafter appearing

And whereas upon the treaty for the said loan it was agreed that the sum of One thousand pounds should be advanced to the Mortgagor by the Mortgagee on the execution of these presents and that the various amounts and sums of money mentioned in the schedule hereto and not exceeding in all the sum of Four thousand pounds being the residue of the sum of Five thousand pounds should be advanced by the Mortgagee in manner and on the conditions provided by the agreement of the Mortgagee hereinafter contained

Now these presents witness that in consideration of the sum of One thousand pounds now paid to the Mortgagor by the Mortgagee the receipt whereof the Mortgagee doth hereby acknowledge and of the agreement by the Mortgagee hereinafter contained for the loan to the Mortgagee of the several sums mentioned in the Schedule hereto and (on the conditions hereinafter mentioned) the Mortgagor hereby agrees with the Mortgagee to pay to the Mortgagee on the twenty fourth day of June next the sum of One thousand pounds with interest thereon in the meantime at the rate of Five pound per cent per annum from the date of these presents And also on such twenty ninth day of September, twenty fifth day of December, twenty fifth day of March, or twenty fourth day of June as shall happen after the same respectively shall be advanced or become owing to pay to the Mortgagee every other amount which may be advanced to the Mortgagor or which may become owing (except for interest) from him to the Mortgagee with interest thereon in the meantime at the like rate from the time of the same being advanced or becoming owing respectively And further if the said monies shall not be so paid to pay to the Mortgagee interest at the rate aforesaid by equal quarterly payments on the twenty fourth day of June the twenty fifth day of December and the Twenty fifth day of March on the Principal moneys for the time being remaining

And these presents also witness that in further pursuance of the said agreement and for the consideration aforesaid the Mortgagor hereby charges

All that piece or parcel of land situate at Devonshire Hill (formerly Clayhill) Tottenham in the County of Middlesex containing by admeasurement thirty four acres and one rood or thereabouts and together with all messuages or tenements and outbuildings thereon or which may be erected thereon all of which hereditments and premises are more particularly delineated and described on the plan drawn on the second skin of a certain Indenture of Conveyance of even date and made between the said John Edward Ford of the one part and Henry Kerby of the other part together with the benefit of the declaration of trust therein contained and the protection against any mesne incumbrances thereby afforded with the repayment as aforesaid of the said sum of One thousand pounds and interest thereon after the rate of Five pounds percent per annum and also of every other amount or sum of money which may be advanced to the Mortgagor by or which may become owing from him to the Mortgagee and interest thereon at the like rate And the Mortgagee doth hereby agree with the Mortgagor that the Mortgagee will from time to time and during the progress of the houses or other buildings hereinbefore mentioned at the request of the Mortgagor and when the Surveyor shall issue a Certificate in writing that such improvements have been affected or that such progress has been made with the houses and other buildings as is mentioned in the schedule hereunder written and also that all such houses and other buildings have been properly proceeded with make advances to the Mortgagor in manner and to the extent set forth in the said Schedule but so that the total of the advances to be made together with the said sum of One thousand pounds shall not exceed Five thousand pounds

And it is hereby agreed that the charges of the said Surveyor for all services rendered by him under this Agreement affecting the Mortgagor shall be Two pounds ten shillings per cent on the amount of each advance and shall be borne by the Mortgagor and may be deducted from the said advances

Provided always that in case the Mortgagor shall become subject to the Bankruptcy laws or make any arrangement or composition with his Creditors or shall have any part of his estate taken in execution or shall not make such progress with the said buildings as will enable them to be completed within the time and in the manner herein provided or shall assign or part with the benefit of this present Agreement or in case any agreement by the Mortgagee herein contained expressed or implied on is part to be performed or observed other than the agreement for the repayment of the said sum of One thousand pounds and the said advances on the days hereinbefore mentioned shall not have been performed and observed then and in any such case the obligation of the Mortgagee to make or continue such advances as aforesaid shall cease

Provided also and it hereby agreed that this security shall extend to all sums which may be advanced by the Mortgagee to or on account of the Mortgagor although the obligation to make or continue the said advances may of ceased And the Mortgagor hereby agrees with the Mortgagee that he the Mortgagor will proceed with and continue the erection of the said houses and other buildings and the execution of the said works in a proper manner and with due diligence and well completely finish the same by the twenty fifth day of March One thousand nine hundred and three

And the Mortgagor doth hereby agree with the Mortgagee that he the Mortgagor will during during the continuance of the present security as soon as any of the said houses and other buildings are roofed in insure and keep insured the same in the Imperial Fire Insurance Office or in some other Office to be approved in writing by the Mortgagee in the joint names of the Mortgagee and Mortgagor in the full value thereof such value to be ascertained by the Surveyor and will increase such sum from time to time as the buildings progress so that the houses and buildings shall always be insured in the full value thereof such value to be ascertained by the Surveyor and will produce the Policy or Policies and receipt or receipts for such Insurance or Insurances when required so to do and also will keep the said houses and buildings in good and substantial repair And that if default shall be made at any time by the Mortgagor in effecting or keeping up such insurances or in keeping the said houses and buildings or any part thereof in good and substantial repair or in producing any such Policy or receipt to the Mortgagee or his Agent on demand it shall be lawful but not obligatory on the Mortgagee to insure and keep insured the said houses and buildings or any part thereof in the full value thereof or to repair and keep in repair the same And that all moneys expended by him for such purpose and interest thereon at the rate of Five pounds per cent per annum from the time of the same having been expended shall n demand be repaid to him by the Mortgagor and until such repayment shall be a charge upon the piece of land and premises hereby charged And the Mortgagor hereby undertakes that he will when required at his own cost execute and deliver to the Mortgagee an effectual or formal mortgage of the said piece of land and premises in such form and with such covenants by him and with such powers of sale and other powers and provisions including declarations negativing the application of Sections 17 and 18 of the Conveyancing and Law of Property Act 1881 to such mortgage save and except as regards the latter section so leases as the Mortgagee may require for further securing the payment of the said One thousand pounds and interest and every other amount which may be advanced to the Mortgagor or become owing from him to the Mortgagee aforesaid And the Mortgagor hereby irrevocably appoints the Mortgagee his executors administrators and assigns to be his Attorney or Attorneys for him and in his name and on his behalf and as his act and deed or otherwise to sign seal and deliver or otherwise perfect any such legal or formal mortgage as aforesaid or (without executing any such Mortgage) any deed assurance or act which may be required or may be deemed proper on any sale by him or them of the said hereditments and premises or any part thereof under the powers of sale conferred by these presents and the Statute in that behalf in order to vest in the Purchaser or Purchasers the legal estate and all other his estate and interest in the said premises And the Mortgagor further undertakes to pay all costs and expenses incurred by the Mortgagee in respect of the premises including the cost of investigating the title to the said mortgage premises and of drawing and completing these presents and the stamps on the same

And it is agreed and declared that all such costs may be added to this security

And the Mortgagee further agrees with the Mortgagor that if the interest on the said advances is punctually paid and the covenants and conditions hereinbefore contained are observed and performed by the Mortgagor he the Mortgagee will not call in the moneys advanced or which may be advanced as aforesaid before the said twenty fifth day of March One thousand nine hundred and three

Provided always that the Mortgagor may not at any time upon giving the Mortgagee fourteen days notice of his intention so to do pay of thee whole or any portion of the moneys due hereunder

And it is hereby declared that except where the context permits the term "the Mortgagor" his heirs executors administrators and assigns and the term "the Mortgagee" shall include his executors administrators and assigns

In witness whereof the said parties to these presents have hereunto set their hands and seals the day and year first above written

The Schedule of advances referred to

Nature of operations

Amount to be advanced

When to be advanced

1

Redemption of Land Tax

85 per cent of the redemption monies

On production of Certificate of Redemption

2

Acquisition of waste land if the same approved by the Surveyor

85 per cent of the Purchase price

On the mortgage being satisfied of the title of the Mortgagor and when the same have been charged or mortgaged to the Mortgagee at his option by way of a collateral security to these presents

3

Provision of water supply

50 per cent of cost

On water being laid on

4

Buildings as follows on each house

£25.0.0

When the first floor joists are fixed

.

Second advance

£37.0.0

Roofed in and slated

.

Third advance

£48.0.0

Plstering completed floors laid etc

.

Fourth advance

£43.0.0

Finished except papering

.

Fifth advance

£22.0.0

Completed

Total

£175

.

and such other sums as the Surveyor may certify for

Note The total amount of the advances to be made in respect of operations No. 1, 2 and 3 in the above Schedule shall not together exceed Seven hundred pounds

Signed Sealed and Delivered 

by the above named John Edward                                                         J. E Ford

Ford & Henry Kerby in the

presence of

Newton G Driver                                                                           Henry Kerby

10 Warwick Ct

Grays Inn 

WC

Solicitor

 

Memorandum 

Received of Mr. John Edward Ford the sum of Five hundred pounds on account of the moneys agreed to be advanced by the within deed by him to me

Dated this 11th. day of May 1900

£500. 0. 0.                      Henry Kerby 

 

Received of Mr. J. E. Ford the sum of Four hundred pounds on account of the moneys agreed to be advanced by the within deed to me

Dated this 2nd. day of June 1900

£400. 0. 0.                   Henry Kerby 

 

The within named Henry Kerby having this day repaid the principal sum of £400 portion of the sum advanced on the 26th. day of March 1900 and all interest due thereon to this date I hereby release the land and premises coloured red and blue on the annexed plan marked B from the within written Equitable Charge

Dated the 26 day of July 1901

J E Ford

26/7/1900

 

Received of Mr. J. E. Ford the sum of Three hundred pounds on account of the moneys agreed to be advanced by the within deed by him to me

Dated this 29th. day of August 1900

£300. 0. 0.                                                    Henry Kerby

 

Received of Mr. J. E. Ford the sum of £600 0. 0. on account of the moneys agreed to be advanced by the within deed by him to me

Dated this 3rd. day of October 1900

Land Tax Redemptn. Cert produced (£140 14. 9. per 21/9/00)

Note  All interest paid to 29 Sept. 00             Henry Kerby

 

The within named Henry Kerby having this day repaid the principal sum of £400 portion of the sum advanced to him on the security of the within equitable charge and all interest due thereon to this date I hereby release the land and premises coloured red and blue on the annexed plan marked B from the within written Equitable Charge

Dated the 6 day of June 1901

J E Ford

6/6/1901

 

The within named Henry Kerby having this day repaid the principal sum of £1900 balance of the sum advanced to him on the security of the within on the security of the within equitable charge and all interest due thereon to this date I hereby release the land & premises coloured pink and blue on the annexed plan & from the said charge

Dated the 29 day of April 1903

J E Ford

24/4/1903 

Note The twenty five houses it was contemplated to build & which are referred to in this charge have been completed & at the request of the within mentioned Henry Kerby have been released from the charge and all money advanced by the within mentioned

John Edward Ford has been repaid with interest

 Newton G Driver

Solicitor for John Edward Ford

Inventory