Catalogue description Draft Conveyance subject to Mortgage

Whereby, supplementarily to a mortgage by demise for 1,000 years (dated 15th. Dec., 1949, and made by W. B. Hughes, milkman, and Elizabeth his wife (of 67, Harnall Lane East, formerly of 72, Hermitage Rd., Coventry) with the Leeds Permanent Building Society), having recited:- firstly, that £1,455/19/8 is still owing; and secondly, that the Hugheses have agreed to sell the property to A. G. Smith (here described as motor-body builder) for £794/-/4, they thereby ceasing to be members of the Society (in respect of fourteen and seventeen-twentieth shares) in favour of A. G. Smith: therefore, firstly, in consideration of the £794/-/4, the Hugheses sell the property to A. G. Smith subject to the mortgage; secondly, the Society releases the Hugheses from their mortgage-obligations which, thirdly, A. G. Smith covenants to observe; and fourthly, it is declared that this deed does not affect A. G. Smith's power of sale over the mortgage.