MAR. 9.] THE NEW ZEALAND GAZETTE. 413

6. The grantor(s) will brand, earmark, and mark with the brands, earmarks, and marks of the grantor(s) aforesaid such of the stock mentioned and described in the First Schedule hereto as are not already so branded, earmarked, or marked, and also all stock which during the continuance of this security shall be brought by the grantor(s) upon the lands mentioned in the First Schedule hereto or upon any other lands that now are or at any time hereafter shall be the property of or occupied or used by the grantor(s), and any other stock which shall at any time hereafter belong to the grantor(s) wherever the same may be depasturing, and also the natural increase of any of the said stock. The words “will brand, earmark, and mark” herein shall have the meaning assigned to them by statute, with such extension as is hereby given to them.

7. The grantor(s) will not (whether in the ordinary course of business or not) sell or dispose of or mortgage, charge, or otherwise encumber the stock and chattels for the time being comprised in this security or any of them, or the produce of any such stock, or remove any of the same from the lands and premises mentioned in the First Schedule hereto, without the consent in writing of the grantee first had and obtained, and the proceeds of every sale shall, unless the grantee otherwise directs, be paid by the purchaser to the grantee.

8. If any of the stock hereby assigned or for the time being subject to this security shall during the continuance of this security die or be lost the grantor(s) shall and will forthwith replace the same with other stock of the like nature and of equal value, and will immediately furnish the grantee with full particulars of the stock dying or lost as aforesaid, and also of the stock with which they are replaced and all other stock acquired by the grantor(s).

9. The grantor(s) will during the continuance of this security render and deliver to the grantee whenever required returns in writing setting forth the numbers, ages, sexes, and other particulars of the stock, and the particulars and descriptions of all other chattels for the time being bound by these presents. And it is hereby declared that the covenant implied herein on the part of the grantor(s) to give and afford all reasonable assistance to enable the grantee, his agents or servants, to view the state and condition of the said stock, shall be deemed to include a covenant to muster the said stock whenever required so to do in the notice to be given under the said implied covenant.

10. The grantee shall have the full and absolute power of determining the mode and time and place of the sale and disposition of all stock, wool, milk, crops, produce, and other chattels subject to the provisions of these presents.

11. The grantor(s) will not without the consent in writing of the grantee give any lien or any other security over the wool growing or to grow upon the sheep hereby assigned or for the time being subject to this security, or over any of the crops, produce, or chattels grown and raised upon or on the lands mentioned in the First Schedule hereto, or any other lands now or hereafter owned or occupied or used by the grantor(s) whether worked in conjunction with the scheduled lands or otherwise.

12. The grantor(s) will from time to time when required so to do by the grantee execute and give to the grantee a lien or other security in such form as the grantee shall require over the wool growing or to grow upon the sheep hereby assigned or for the time being subject to this security, and (or) over the crops, grain, or grass-seed or other the produce or chattels mentioned in paragraph 11 hereof, or any of the same, grown or raised upon the lands mentioned in the First Schedule hereto or any other lands and premises now or hereafter owned, occupied, or used by the grantor(s), whether worked in conjunction with the lands mentioned in the First Schedule hereto or otherwise, with a view to collaterally securing the moneys intended to be hereby secured, such lien or other security to be prepared by the grantee at the expense of the grantor(s), and to contain such covenants, provisos, and conditions for the protection of the grantee as the grantee shall think fit.

13. The grantor(s) will duly and punctually pay, perform, observe, and keep all moneys, covenants, conditions, and agreements contained in any security collateral herewith.

14. The powers conferred by statute upon grantees of entering and taking possession of chattels assigned by instruments by way of security, and of shearing the wool assigned by instruments by way of security over wool, shall be exercisable by the grantee in respect of the stock, wool, and other chattels for the time being subject to this security at any time whether or not default shall have been made by the grantor(s) in the payment of any of the moneys intended to be hereby secured, and whether or not any of the other events shall have happened upon which any of the said powers are made exercisable by statute, and the provision implied herein by statute for the retention and use by the grantor(s) of the chattels assigned by these presents is hereby modified accordingly.

15. If and whenever the grantee shall become entitled to exercise the power of sale herein implied the grantee may at any time and from time to time at the expense in all things of the grantor(s), remove the stock and chattels hereby assigned or for the time being subject to this security or any of them to such place or places as the grantee may deem most convenient for the purpose of any sale or resale in exercise of the said power of sale.

16. No delay or omission on the part of the grantee to enforce any covenant or exercise any of the powers hereby conferred shall be taken to imply a waiver thereof, nor shall the grantee be answerable or responsible for any loss which may happen in