I.—bA

190

seven thousand and forty-six acres or thereabouts, being parts of the Mokau-Mohakatino Block Number If, and being the sections on >\ eubdivisioual plan of the said block set out in the table Lereunder written :— Section. Area. 1 ... ... ... ... ... 686 acres 2 ... ... ... ... ... 208 ~ 6 1,329 „ 8 ... ... ... ... ... 335 ~ 9 ... ... ... ... ... 1,090 ~ 12 ... ... ... ... ... 1,358 ~ 13 ... ... ... ... ... 1,790 ~ Parts 16 and 17 ... ... ... ... 250 ~ 7,046 acres and being all the land comprised in and subject to sublease registered numbers 7496, 7494, 7493, 7492, 7490, and 7495, and part of the land comprised in partition order, Provisional Register, Volume 11, folio 699 : And whereas Mason Chambers, of Tauroa, Havelock North, in the Provincial District of Hawke's Bay (hereinafter called "the mortgagee," whiob expression shall include his heirs, executors, administrators, and assigns where the context so requires or admits), of the other part, has at or before the execution hereof advanced to Herrman Lewis, of Wellington, gentleman, the hum of twenty thousand pounds (£20,000) on the security of these presents and on certain other securities : And whereas the said Walter Harry Bowler lias, at the request of the said Herrman Lewis, testified by his executing these presents, agreed to grant to the mortgagee security for the said advance of twenty thousand pounds (£20,000) and any further advances which may be made by the said Mason Chambers to the said Herrman Lewis (such security to be in addition to any other security held by the mortgagee for securing such moneys or any part thereof) : Now, therefore, in consideration of the payment by the mortgagee to the said Herrman Lewis of the said sum of twenty thousand pounds (£20,000), (receipt whereof the said Herrman Lewis doth hereby acknowledge), he, the said Herrman Lewis (hereinafter, with his executors, administrators, and assigns, called " the mortgagor "), doth hereby covenant with the mortgagee in manner following, that is to say, — 1. That the mortgagor will, immediately upon demand made as hereinafter provided, pay to the person and at the place mentioned in such demand the said sum of twenty thousand pounds (£20,000), and also all other moneys which may at any time hereafter be advanced by the mortgagee to the mortgagor or on his account, or which may be owing by the mortgagor to the mortgagee on any account whatsoever. 2. That the mortgagor will pay to the mortgagee interest on the said principal sum and further advances until the repayment thereof at the rate of six pounds per centum per annum, computed as to the sum of two thousand seven hundred and fifty pounds (£2,750), part thereof, from the eighteenth day of February, one thousand nine hundred and eleven; as to the sum of seven thousand two hundred and fifty pounds (£7,250), other part thereof, from the first day of March, one thousand nine hundred and eleven ; as to the sum of seven thousand pounds (£7,000), other part thereof, from the sixteenth day of March, one thousand nine hundred and eleven; as to the sum of three thousand five hundred pounds (£3,500), other part thereof, from the thirtyfirst day of March, one thousand nine hundred and eleven; as to the sum of one thousand pounds (£1,000), from the twenty-fourth day of April, one thousand nine hundred and eleven; and as to the sum of four thousand eight hundred pounds (£4,800), from the date of these presents; and as to further advances, from the date of advancing or disbursing the same respectively : such interest to be considered as accruing from day to day, with half-yearly rests, and if not then paid to be added to the principal moneys hereby secured on the eighteenth day of February and August in each year, and thenceforth to be deemed a part of the principal moneys hereby secured and to bear interest accordingly. 3. That the mortgagor wjll pay all principal, interest, and other moneys payable under these presents to the mortgagee at Napier, or to such other person in the Provincial District of Hawke's Bay as thi mortgagee may by notice in writing direct, free of exchange and all other deductions. 4. That if the mortgagor shall make default in the observance or performance of any of the covenants, agreements, or provisions by him or on his part herein, or in any existing or future security, collateral, herein expressed or implied, it shall be lawful for but not obligatory on the mortgagee (without thereby becDming liable as a mortgagee in possession) to observe and perform the same, and all moneys paid and expenses incurred shall be deemed a further advance to the mortgagor and part of the money hereby secured. 5. That the mortgagor will at ill times during the continuance of this security punctually pay all rates, taxes, and assessments payable in respect of the lands and premises hereby mortgaged. 6. And the mortgagee doth hereby covenant with the mortgagor, and also as a separate covenant with the said Walter Harry Bowler, his executors, administrators, and assigns, that if the said Walter Harry Bowler, his executors, administrators, or assigns, or the Waikato-Maniapoto Land Board, its successors or assigns, shall at any time during the continuance of this security sell any part of the land comprised herein, then the mortgagee shall, at the request of the said Walter Harry Bowler, his executors, administrators, or assigns, or of the said Land Board, release and discharge from this security the lands so sold. 7. That no covenant, either for payment of any moneys hereby secured or hereby covenanted to be paid or any part thereof, or other covenant directed to be herein implied by the Land Transfer Act, 1908, or otherwise howsoever, shall be herein implied as against the said Walter