Land Transfer.

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for the purchase-money, and do all such other acts and things for completing the sale as ho may think proper : And also that the mortgagee may exercise such other incidental powers in that behalf as are conferred upon mortgagees by the Land Transfer Act, 1915 : And, lastly, that the mortgagee will apply the moneys arising from any such sale as aforesaid, in the first place in payment of the costs and expenses incidental to the sale or otherwise incurred in respect of the mortgage, and in the second place in satisfaction of the principal, interest, and other moneys for the time being owing under the mortgage, and in the third place in payment of the moneys owing under subsequent registered mortgages (if any) in the order of their priority ; and will pay the surplus (if any) to the mortgagor : Provided that a purchaser at any sale as aforesaid shall not be answerable for the loss, misapplication, or non-application of the purchase-money by him paid ; nor shall he be obliged, to see to the application thereof ; nor shall he be concerned to inquire whether any default has been made as aforesaid, or whether any notice has been given or left as aforesaid, or otherwise as to the necessity, regularity, or propriety of the sale ; nor shall he be affected by notice that no such default has been made or notice given or left as aforesaid, or that the sale is otherwise unnecessary, irregular, or improper. (8.) That if and whenever the mortgagor makes default as mentioned in the last preceding covenant the mortgagee may call up and compel payment of all principal, interest, and other moneys for the, time being owing under the mortgage, notwithstanding that the time or times therein appointed for the payment thereof respectively may not have arrived. (9.) That the mortgagor will forthwith insure and, so long as any moneys remain owing on the security, will keep insured the mortgagee against any worker's charge on the said land obtaining priority over the mortgage under the Workers' Compensation Act, 1908, or any Act amending the same, the policy or policies of such insurance to be taken out in the name of the mortgagee, and to be expressed to be an absolute indemnity of the mortgagee against such risk ; and will, seven days at least before the same becomes due, pay all premiums and other moneys necessary for keeping such insurance on foot, and will forthwith deliver to the mortgagee the policy or policies of such insurance or insurances, and from time to time the receipt for every such premium. (10.) That if the mortgagor fails to insure or keep insured the mortgagee against any worker's charge as aforesaid, it shall be lawful for but not obligatory on the mortgagee to pay all sums of money that may bo requisite to effect such policy or policies as, in the opinion of the mortgagee, are necessary for the purpose of insuring the mortgagee against any worker's charge obtaining priority over the mortgage, and to pay all sums that may be necessary for the purpose of effecting such insurance, or paying the premium thereon or any renewal premium in respect thereof : And that the, mortgagor will, whenever called' upon to do so (but not at intervals of less than three months), supply a list of all wages paid by the mortgagor for work done on, about, or in any way relating to the said land. (11.) That the mortgagor will forthwith, without any demand, pay to the mortgagee all sums of money expended by the mortgagee in paying and satisfying any such worker's charge as aforesaid, or in effecting such insurance, or in paying the said premium or renewal premiums thereon, with interest for the game respectively at the rate agreed on in the mortgage, computed from the time or respective times of the mortgagee's paying the same until repayment thereof, and that in the meantime such sums of money, with interest at the, rate aforesaid, shall be added to the sum expressed to be secured by the mortgage. (12.) That the mortgagee will, on payment by the mortgagor of all moneys due under the mortgage at the time and in the manner mentioned in the mortgage, for payment of the principal sum, or at any time thereafter on payment of all moneys then due (three clear months' notice of the intention to pay the same having been given), return to the mortgagor the instrument of mortgage, having indorsed thereon or annexed thereto a memorandum of discharge as provided in section 116 of the Land Transfer Act, 1915, together with all instruments and documents deposited with the mortgagee on account of the mortgage. (13.) The expressions " mortgagor " and " mortgagee " in the above provisions shall, where such moaning is not inconsistent with the context, extend to and include the executors, administrators, and assigns of the mortgagor and mortgagee respectively

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