AS to BUILDING and repairing Houses of Residence, [See Title "Powers of Mortgage by Incumbent," p. 1049.] THE terms of re-payment of such mortgage-money, Terms of with interest, are as follows: re-payment of to be The incumbent is, at the end of the first and each the money succeeding year during the existence of the mortgage borrowed. term (such term to be computed from the day of the date of the mortgage), to pay to the mortgagee the yearly interest on the money borrowed, or on so much thereof as shall from time to time remain unpaid. ment for He is not required, during the first year, to repay Not to pay any portion of the principal; but at the end of the any instal second and each succeeding year he is to pay one the first thirtieth part of the principal sum borrowed, until the whole thereof shall be repaid. year. may lend. The act 17 Geo. 3, c. 53, authorizes the governors Governors of Queen Anne's Bounty to lend any sum not exceed- of Q. A.B. ing £100 in respect of benefices under £50 per annum, free of interest; and as to benefices above £50, it authorizes them to lend any sum to the extent authorized by the act to be borrowed. &c., may It also gives power to colleges and halls within the Colleges, Universities of Oxford and Cambridge, and to other lend corporate bodies, to lend, interest free, to benefices in moneys to livings in their patronage, any moneys of which they have the their power of disposing. patronage. The act 1 & 2 Vict. c. 23, sect. 9, authorizes the ap- Moneys 9 The power to borrow has, by act 3 & 4 Vict. c. 59, been since extended to bishops and deans and canons, for the purpose of their building, enlarging, or improving their houses of residence; after a loan is agreed to be advanced to a bishop, dean, or canon, application is to be made to the Ecclesiastical Commissioners on the subject. The governors of Queen Anne's Bounty can lend for this purpose. arising of resi dence from sale plication of moneys arising by a sale, of the residencehouse and premises belonging to a living, in or towards house, may the erection of a house and offices suitable for the be applied in the erec- residence of the incumbent, and approved of by the tion of a ordinary and patron. suitable house and offices. Applica Money appropriated to a living remaining in the hands of the governors of Queen Anne's Bounty may tion of ap- by the act 43 Geo. 3, c. 107, sect. 3, be applied by the propriated money for governors in the building or rebuilding of a house of building residence, and other proper erections within the parish, convenient and suitable for the residence of the minister thereof. purposes. Summary sions 1 & 2 [See title "Appropriated Money."]. By the 62nd and twelve following sections of the act of provi- 1 & 2 Vict. c. 106, provision is made for the building Vict.c.106, of fit houses of residence for livings upon or at any time after the avoidance thereof after the passing of the act. The following is a summary of the provisions of such sections :: as to mortgages. Upon or af ter avoid If no fit house of residence, The bishop is authorized and required, upon or at time after the avoidance of a benefice, to issue a ance of a any living, the commission to four beneficed clergymen, directing them bishop to issue com- to inquire whether there is a fit house of residence, and mission of what are the annual profits of the benefice; and if the inquiry. clear annual profits exceed £100, whether a fit house of residence can be conveniently procured on the glebe of the benefice, or otherwise: And if the commissioners shall report that there is no fit house of residence, and and annual that the clear annual profits of the living exceed £100, the living and that a fit house of residence can be conveniently procured on the glebe, or on any land which can be conveniently procured for the site of such house, the bishop is required to procure a surveyor's certificate containing a statement of the condition of the buildings [if any], and of the value of the timber and other materials [if any], fit to be employed in building or repairing, or to be sold, and a plan and estimate of the value of above £100, bishop to procure plan and estimate, and raise amount of estimate by a mortgage of to the income. work proper to be done for building or repairing such the living house of residence, with all necessary and convenient extent of offices; and thereupon, by a mortgage of the profits of 4 years' the living, to raise the amount of the estimate, not exceeding four years' net income.-[The form of the mortgage-deed is contained in the second schedule to the act; and such mortgage is made binding upon the incumbent and his successors.] transmit cumbent copies of commissioners' re The bishop is required to transmit to the patron and Bishop to incumbent [if any] copies of the commissioners' report, to patron and of the plan, estimate, and surveyor's certificate, two and incalendar months before making the mortgage; and if they shall object to the proposed site, or the plan, or the amount proposed to be raised, and shall deliver port, &c., such objections in writing to the bishop within such two calendar months, the bishop has the power of mortgage. altering or modifying the plan as he may think fit. before making the Queen in reasons for not providing a fit house of residence in any case. And if, upon receiving the commissioners' report, Bishop to the bishop shall think that it is not expedient to take state to the any measures for providing a fit house of residence, he council his is to make a special report of the grounds of his opinion to the Queen in council, in his next annual return. The money to be raised by mortgage is to be paid to a nominee to be appointed by the bishop; and the act contains directions for the application of such money, Money to be paid to similar in all respects to those in Gilbert's Act; with a nominee. the exception, that in all cases where, under the act, the approval of the bishop, patron, and incumbent is required, that of the bishop alone is by this act required. ment of borrowed. The terms of repayment of the mortgage-money and Terms of interest are similar to those specified in the act 1 & 2 re-pay Vict. c. 23, viz., the interest to be paid yearly, and no money payment of principal to be made during the first year; but in every subsequent year, one thirtieth part of the principal sum borrowed is to be paid, until the whole shall be discharged. Applica. tion of All moneys received for dilapidations, and not exmoneys re. pended in repairs prior to the mortgage, are to be ceived for applied in part of the payment under the estimate; dilapidaand all such moneys to be received after the mortgage are to be applied towards payment of the principal; or, if all the mortgage money shall be paid off, in additional buildings and improvements. tions. The gover See [See the act 28 & 29 Vict. c. 69, extending the former acts of 17 Geo. 3, c. 53; 21 Geo. 3, c. 66. also 1 & 2 Vict. c. 23, as set forth in page lxxii.] The Governors of Queen Anne's Bounty have for many years been in the habit of advancing sums of money for the purpose of the several acts enabling them; and they are disposed for the present to continue neys for the this accommodation. purpose of building, &c. posed to lend mo Reference to the governors' solicitors. The practice of the governors as to loans, and all needful information, may be obtained on application to their solicitors, Messrs. Burder and Dunning, No. 27, Parliament Street, Westminster, S.W., to whom also all applications to the governors for loans of money on mortgage should be made. INSTRUCTIONS' for the Exercise of the Power given by the Acts 1 & 2 Vict. c. 23, and 1 & 2 Vict. c. 29, for the Sale of the House of Residence and Appurtenances belonging to a Living, and any Land contiguous thereto not exceeding 12 acres. to be sub 1. Ir will be proper, in the first place, to submit to Statement the ordinary and patron of the living a statement of mitted to what is proposed to be done; and, should the measure ordinary appear to them desirable and proper to be proceeded patron. with, to procure their written consent to the employment of a surveyor to act in the business. FORM of Appointment of Surveyor. and ment of WE, whose names are hereunto subscribed, being the Appointordinary, patron, and incumbent of the rectory of -- › surveyor. in the county of — and diocese of, do hereby signify our consent to the employment of J. H., of — surveyor, to survey and value the residence-house and appurtenances belonging to the said rectory of -, with reference to the sale intended to be made of such residence-house and appurtenances; and to make a particular report in writing, as to the propriety and expediency of such proposed sale. Witness our hands, this 18-. day of [Signatures.] to ordi. 2. To address to the ordinary a memorial, stating Memorial with clearness and precision all the facts of the case, nary. and the circumstances which render the proposed sale desirable. These instructions are also applicable, mutatis mutandis, to sales under the act 1 & 2 Vict. c. 106, and to the sale of old buildings under the act 2 & 3 Vict. c. 49. As to the disposal of the old house otherwise than by sale, see page 149. |