Titles to Land Consolidation (Scotland) Act 1868

No. 1 U.K.

Form of a Bond and Disposition in Security U.K.

I, A.B., [here name and design the grantor,] grant me to have instantly borrowed and received from C.D. [here name and design the creditor] the sum of [insert the sum] sterling; which sum I bind myself, and my heirs, executors, and representatives whomsoever, without the necessity of discussing them in their order, to repay to the said C.D.,his executors . . . F1 or assignees whomsoever, at the term of [here insert the date and place of payment], with a fifth part more of liquidate penalty in case of failure, and the interest of said principal sum at the rate ofper centum per annum from the date hereof to the said term of payment, and half-yearly, termly, and proportionally thereafter, during the not-payment of the same, and that at two terms in the year, Whitsunday and Martinmas, by equal portions, beginning the first term’s payment of the said interest at the term of next, for the interest due preceding that date, and the next term’s payment thereof at following, and so forth half-yearly, termly, and proportionally thereafter during the not-payment of the principal sum, with a fifth part more of the interest due at each term of liquidate penalty in case of failure in the punctual payment thereof. And in security of the personal obligation before written I dispone to and in favour of the said C.D. and his foresaids, heritably, but redeemably as after mentioned, yet irredeemably in the event of a sale by virtue hereof, all and whole [here described or refer as in schedule(E.) or schedule(G.) to the lands] (a), and that in real security to the said C.D. and his foresaids of the whole sums of money above written, principal, interest, and penalties; and I assign the rents, and I assign the writs, and I grant warrandice, and I reserve power of redemption, and I oblige myself for the expenses of assigning and discharging this security; and on default in payment I grant power of sale; and I consent to registration for preservation and execution. [F2 Testing clause+].

(a) If the lands are held under any real burdens, conditions, provisions, or limitations, insert them here or refer to them in or as nearly as the circumstances may require in the form of schedule (D.)[F2 + Subscription of the document by the granter of it will be sufficient for the document to be formally valid, but witnessing of it may be necessary or desirable for other purposes (see the Requirements of Writing (Scotland) Act 1995)]

Textual Amendments

F1 Words repealed by Succession (Scotland) Act 1964 (c. 41), s. 37, Sch. 3

F2 Words in Sch.(FF.) No. 1 substituted (1.8.1995) by 1995 c. 7, ss. 14(1), 15(2), Sch. 4 para. 18 (with ss. 9(3)(5)(7), 13, 14(3))