Catalogue description Draft Abstract of the Title of Mrs. Mary, and A. E., Mayo to leasehold land and premises, Lincoln St., Coventry.

This record is held by Coventry Archives

Details of PA 353/20/71
Reference: PA 353/20/71
Title: Draft Abstract of the Title of Mrs. Mary, and A. E., Mayo to leasehold land and premises, Lincoln St., Coventry.
Description:

The document recites:- firstly, a 9th.Sept., 1897 deed made between William Read (watch-manufacturer), Frederick Bird (chemist), Eli Green (gent.), George Lloyd (haberdasher), Joseph Edge Banks (esq.), John Smith (licensed victualler), George Henry Hayward (haberdasher), Charles Haywood jun. (builder), Charles Read (watch-manufacturer), Henry Whiteman (painter and plumber), Thomas William Liggins (builder), Edward Turrall (ribbon-manufacturer), David Yardley (ribbon dresser) and Thomas Liggins (tailor), all of Coventry, freemen's trustees under the 1860 Enclosure Act for the city with the Coventry-Eagle Cycle Co. Ltd. (of Hill Cross Cycle Works, Coventry) whereby the freemen's trustees demised to the company land in Lincoln St. with a 129 ft. 6 in. frontage and covering 3,480 sq. yd. (bounded north by Lincoln St. and other of the lessors' land, south by William Ratliff's land, east by the Viking Cycle Co. Ltd.'s premises, and west by other entrusted land (about to be sold to John Morton, forming part of a close called "Harnall 2" and numbered 31 on the 1860 enclosure award's plan "A")) from 21st. Dec., 1896 for 99 years, paying £7/5/- for the first year's rent, £29 for the others' (these later sums being payable quarterly); the lessees covenanted to pay the rent and usual imposts, to erect (within two years) a cycle factory costing at least £1,750, paint the exterior quadrennially and repair it, allow the lessors to examine the premises (which were to be insured against fire), and not to sublet the premises in the final seven years of the term without the lessors' consent; the lessors covenanted to give Coventry-Eagle peaceable possession with power of re-entry if the rent should be 21 days behindhand: secondly, a deed of 2nd. May, 1907 whereby, having rehearsed (a) the first recital, (b) a 12th. Mar., 1907 deed (whereby Edward O'Brien Ltd., Ernest Frank Peirson and William Henry Fueford assigned the premises to Herbert John Baker (in the May, 1907 deed described as of Barras Cottage, Coventry, commission agent) for the residue of the term), in consideration of £3,475, Baker assigned the premises to the Premier Cycle Co. Ltd., Coventry, together with a factory (recently then occupied by O'Briens and the Challenge Cycle Co.) and "Eagle House" (6, Lincoln St., occupied by E. Gough): thirdly, a deed of 5th. May, 1921 whereby, having rehearsed, firstly and secondly, the first and second recited deeds; thirdly, the change of the Premier Cycle Co. Ltd.'s name to the Premier Co. Ltd. (by extraordinary general meetings of 29th. Oct. and 14th. Nov., 1914); fourthly, the company's issue of 1,000 first mortgage debentures for repayment of £100,000 (whereof 968, representing £96,800, had still been owing); fifthly, the appointment on 9th. Mar., 1920 of Geoffrey Bostock (in the 1921 deed described as of 21, Ironmonger Lane, London, chartered accountant) as receiver; sixthly, an agreement for sale made on 10th. Aug., 1920 between Bostock and Singer & Co. Ltd. (in 1921 described as of Canterbury St., Coventry, Warws.); seventhly a 29th. Aug., 1920 Court Order affirming the agreement, which had ordered the purchasers to pay a £900 deposit via Bostock to the Court (with £8,100, £59,400 and the balance of the purchase-money as therein provided); eighthly, Bostock's payment of the £900 into the Court; ninthly, the purchasers' payment of their two specified sums and of £10,244/9/5 balance (totalling £77,744/9/5); tenthly, the company's appointment of Bostock as liquidator (by resolutions confirmed at its 18th. Sept. and 11th. Oct., 1920 meetings), eleventhly, that the premises' purchase-price will be £4,000; and twelfthly, that the property was subject to the sublease mentioned in the first schedule therefore Coventry Premier Ltd. conveyed the premises to Singer & Co. Ltd. for the residue of the term subject to a firstly-scheduled sublease (28th. Mar., 1920) from 24th. June, 1919 to James Cramp & Sons Ltd. for five years (paying £375 p.a.) and a secondly-scheduled tenancy-agreement which (dated 13th. Mar., 1919) had leased to Holley Brothers Co. Ltd. certain hereditaments from 10th. Mar., 1919 for a three-month certain term (thereafter renewable until determined by six weeks' notice): fourthly, a 22nd. Feb., 1934 trust deed whereby, having rehearsed that Singers had determined to create £400,000 5½% first-debenture stock, inter alia tenthly, Singers demised to the Law Debenture Corporation Ltd. hereditaments described in the second part of that deed's second schedule for the residue of the terms under which it had been held according to that schedule; twenty-thirdly, the corporation (as then-present trustees) might at discretion (when advised by Singers) inter alia sell or convert the mortgaged premises; and twenty-fourthly, the capital arising from the previous rehearsal might become part of the mortgage and be vested in the trustees, the land being subject to firstly a 16th. Feb., 1934 underlease to Lester & Harris (expiring 29th. Sept., 1939, rendering £450 p.a. payable quarterly with option to determine after the first or second year) and secondly a 29th. Feb., 1925 underlease to Coventry Malleable Ltd. of the premises' remnants (for 14 years from 29th. May, 1925, rendering £175 p.a.) as shown in the second schedule: fifthly, the registration of the fourth recital on 12th. May, 1934 at the Companies Registration Office; sixthly, the fourth recital's registration on 16th. Mar., 1934 with the Land Registry, Mdx., Deeds Department: seventhly, the 28th. May, 1937 acknowledgement (endorsed in the 1934 deed) by the corporation that moneys had been satisfied under the 12th. Nov., 1936 scheme of agreement, sanctioned by a 7th. Dec., 1936 Court Order: eighthly, that Court Order's sanction of the scheme firstly to form the new company of "Singer Motors Ltd." with £703,300 share-capital (consisting of 428,425 8/- preference, and 2,127,720 5/- ordinary, shares); fourthly, to transfer all the old Singer company to the new one; and fifthly to enable the new company to create £386,435 5½% first-mortgage debenture stock secured by the 1934 trust deed, the stock to be repayable on 31st. Aug., 1967 with annual sinking-fund credit to start in the year ending 31st. Aug., 1940 (with £5½% p.a. interest repayable upon the last days of each Feb. and Aug.): ninthly, the filing of the Court Order with the Registrar of Companies on 11th. Dec., 1936: tenthly, the 18th. Dec., 1936 transfer, by a High Court Vesting Order, of the Singer Co. Ltd.'s property rights to Singer Motors Ltd.: eleventhly, the Vesting Order's filing with the Registrar of Companies on 24th. Dec., 1936: twelfthly, a trust deed (18th. Dec., 1936) whereby, as in pursuance of the scheme of arrangement Singer Motors Ltd. desired to purchase £386,435 5½% first-mortgage debenture stock, ninthly, that company had conveyed to the Law Debenture Corporation Ltd. the premises until the final ten day periods of the as-before-scheduled sub-leases' terms; twenty-secondly and twenty-thirdly, the corporation might respectively act as in the 1934 trust deed's twenty-third and twenty-fourth clauses: thirteenthly, the 1936 trust deed's registration with the Registrar of Companies, 29th. Dec., 1936: fourteenthly, the willingness (by a 4th. Aug., 1937 letter) of a Singer Motors Ltd.'s director to acknowledge Mrs. M., and A. E., Mayo's right to copies of the 1934 and 1936 trust deeds: fifteenthly, a 30th. July, 1937 Certificate of Official Search in the Land Registry which had found no subsisting entries against Singer Motors Ltd.: sixteenthly, another Certificate of the same date: and seventeenthly, the 31st. July, 1937 assignment (having rehearsed firstly to thirdly, the first, tenth and twelfth recitals; fourthly, Singers' agreement (they being described, mutatis mutandis, as in the third recital but also called manufacturers) to assign the premises for £3,000; fifthly, the 1925 sublease; sixthly, the possibility that the Law Debenture Corporation Ltd. (of 24, Old Bond St., London) might (under the 1936 trust deed) agree to sale; and sixthly, that a sum exceeding the purchase-price was still being owed under the 1936 trust deed by Singers to the Corporation) whereby, firstly, in consideration of £3,000 (paid by the corporation to Mary Mayo, wife of Arthur Douglas Mayo (of "Inglesby", Gibbet Hill Rd., Coventry), married woman, and Arthur Edmund Mayo (of 21, Rochester Rd., Coventry, manufacturer)), merging the sublease terms, the vendors and the debenture-holders transferred to the Mayos the premises for the residue of the term; secondly, the purchasers covenanted to pay the property's rent; and thirdly, the purchasers (a) stood seized of the premises in trust for sale, and (b) were entitled to full powers under the Settled Land, and Law of Property, Acts of 1925.

Date: 1947
Held by: Coventry Archives, not available at The National Archives
Language: English

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