|
|
If Tenants purchase Lands held by Two or more Leases, a Mortgage may be accepted of the Lands held by One of them.
|
XIII. And be it enacted, That if any Tenant or Under-tenant shall be the Purchaser of any Lands, Tenements, or Hereditaments held under or by virtue of Two or more Leases, it shall be lawful for the said Ecclesiastical Commissioners, if in their Discretion they shall so think proper, to accept of a Mortgage on the Lands comprised in any One or more of such Leases for the Purchase Money of the whole, provided that the yearly Value of the Portion or Portions of such Lands so proposed to be mortgaged, clear of all Rents, Charges, and Outgoings whatsoever, shall be at least Three Times the Amount of the yearly Interest payable in respect of such Mortgage.
|
