Mar. 9.] THE NEW ZEALAND GAZETTE. 417

And for the better securing to the mortgagee the repayment in manner aforesaid of the said principal sum and interest the mortgagor(s) hereby mortgage(s) to the mortgagee all the mortgagor(’s) (s’) estate and interest in the said land(s) above described.

In witness whereof the mortgagor(s) has (have) hereto signed his (their) name(s) this day of , one thousand nine hundred and .

, Mortgagor(s).

Signed by the said , as mortgagor(s), in the presence of—

Witness :
Occupation :
Address :

PART III.
DEED OF MORTGAGE.

THIS DEED made the day of , one thousand nine hundred and , between in the Provincial District of (hereinafter called the “mortgagor(s),” which expression where not inconsistent with the context shall if more than one include each of the parties aforesaid and their, or if only one his, executors, administrators, and assigns) of the one part, and the State Advances Superintendent (hereinafter called the “mortgagee,” which expression where not inconsistent with the context shall include the mortgagee, his successors, and assigns) of the other part, witnesseth that in consideration of the sum of lent, advanced, and paid pursuant to the provisions of the State Advances Act, 1913, and its amendments, by the mortgagee to the mortgagor(s) (the receipt whereof is hereby acknowledged), the mortgagor(s) doth (do) hereby convey and assure unto the mortgagee all that the estate or interest of the mortgagor(s) in all that piece or parcel of land comprised and more particularly described in the First Schedule hereto, as the same is delineated on the plan drawn hereon and therein edged with a red colour, together with all buildings or erections now or at any time hereafter during the continuance of this security erected thereon, and all rights, ways, easements, and appurtenances thereunto belonging or therewith usually held or enjoyed, to hold all and singular the premises hereinbefore expressed to be hereby conveyed unto the mortgagee by way of mortgage subject, however, to the prior mortgage(s) set forth in the Second Schedule hereto, subject nevertheless to redemption on payment of all principal, interest, and other moneys as hereby provided: And the mortgagor(s) doth (do) hereby covenant with the mortgagee as follows:—

1. That the mortgagor(s) will repay to the mortgagee the amount of the said advance not later than at the expiration of five years from the day of 19 (hereinafter in this and the next succeeding covenant called “the date of advance”) in such manner that—

(a) At the expiration of one year from the date of advance not more than ninety per centum of the said advance shall remain unpaid;

(b) At the expiration of two years from the date of advance not more than seventy-five per centum of the said advance shall remain unpaid;

(c) At the expiration of three years from the date of advance not more than fifty-five per centum of the said advance shall remain unpaid;

(d) At the expiration of four years from the date of advance not more than thirty per centum of the said advance shall remain unpaid;

(e) At the expiration of five years from the date of advance the whole of the balance of the advance shall be repaid:

Provided that in the event of the lands hereby mortgaged or of the whole or any part of the interest of the mortgagor(s) therein being sold, conveyed, or otherwise disposed of by the mortgagor(s), the mortgagor(s) will immediately pay to the mortgagee all principal moneys hereby secured or secured by any security collateral herewith.

2. That the mortgagor(s) will pay interest on the moneys hereby secured at the rate of seven pounds per centum per annum, reducible as hereinafter mentioned by half-yearly payments on the day of , and the day of , in each year, such interest to be computed from the date of advance, and the first of such payments to be made on the day of 19 : Provided always and it is hereby agreed and declared that if the mortgagor(s) shall within fourteen days next after any of the said days hereinbefore mentioned for payment of interest pay to the mortgagee interest on the said advance or on so much thereof as shall remain unpaid for the time being at the rate of six pounds ten shillings per centum per annum, all interest, principal, and other moneys which may previously have fallen due hereunder or under any security collateral herewith being then paid, and all covenants and conditions herein contained or implied on the part of the mortgagor(s) being duly observed and performed, the mortgagee shall accept payment at the rate of six pounds ten shillings per centum per annum for every half-year for which such interest shall be paid as aforesaid.

3. That the mortgagor(s) will forthwith insure, and so long as any money remains owing on this security will keep insured, all buildings and erections for the time being situate on the said land against loss or damage by fire in the name of the mortgagee to their