GREYMOUTH PROTECTIVE WORKS.

9

D— No. 10

assigns will at the request and costs of the said Mortgagor its successors or assigns re-assign to it or them the said rates dues tolls sums and sum of money hereby assigned or intended so to be paid and discharged from the said principal and interest monies secured or intended so to be And it is hereby declared and agreed that in case default shall be made in payment of the said sum of Four Thousand Pounds or of the interest thereof or any part of, the same contrary to the true intent and meaning of the proviso or condition hereinbefore contained it shall be lawful for the said Governor his successors and assigns immediately to enter into and upon the receipt of the said rates dues tolls and monies being made or intended as a security thereof to and for his and their own use and benefit without making any demand giving any notice or waiting any period whatsoever and to remain in possession of and collect and receive the same until he or they shall have been fully reimbursed and repaid the said principal and interest monies or so much thereof as shall be then unpaid and due and owing and all costs charges and expenses incurred in collecting the same or otherwise howsoever in consequence of such default and thereafter the said rates dues tolls and monies shall be re-assigned to the said Mortgagor its successors and assigns in manner aforesaid Provided always and it is hereby declared and agreed that until default shall be made in payment of the said sum of Four Thousand Pounds or some part thereof or of the interest thereof contrary to the aforesaid proviso it shall be lawful for the Mortgagor and its successors its and their Treasurer receiver or Agents of the said rates dues tolls and monies for the time being to receive take and retain the said rates dues tolls and monies hereby assigned and pay and apply the same to and for the uses intents and purposes in and by the said first recited Act or any Act or Acts amending the same directed or expressed concerning the same And the Mortgagor for itself and its successors hereby covenants with the said Governor his successors and assigns that the Mortgagor or its successors will well and truly pay the said sum of Four Thousand Pounds and the interest thereof according to the true intent and meaning of the proviso or condition hereinbefore contained and will do and execute all such further or other acts deeds and things as may be requisite for further assuring the premises hereby assigned or intended so to be or for giving complete effect to the security hereby intended to be granted And it is hereby declared that the lastly written covenants shall in no wise be personal ones nor shall the said Mayor Councillors and Burgesses or any or either of them be personally liable under the said covenant or for the principal and interest monies hereby secured or intended to be In Witness whereof the seal of the said Body Corporate hath been hereunto annexed. The Seal of the Mayor, Councillors, and Burgesses, of the Borough of Greymouth was affixed on the eighth day of March, 1872, to the above-written deed in the presence of Edmund Wicks, Mayor. Maetin Kennedy, Councillor. John H. Whall, Town Clerk.