100 Assembly Proceedings, March 13,1732/3-April 12, 1733.

Session
Laws

securing the Payment of the Sums or Values to be lent, as directed
by this Act, the said Commissioners or Trustees, or any Two of them,
shall, in Pursuance of the Trust reposed in them, and as Com-
missioners or Trustees as aforesaid, and not otherwise, take and
receive Deeds of Mortgage in Fee Simple, or sufficient Personal
Security, for what they lend; which being executed and acknowl-
edged, or proved and delivered, as herein after directed, shall trans-
fer the Possession of the Messuages, Lands, Tenements or Heredi-
taments thereby granted to the said Commissioners or Trustees; and
vest the Inheritance thereof in them, and their Successors, for the
Uses and Purposes aforesaid, as fully and effectually as Deeds of
Feoffment with Livery and Seisin, or Deeds enrolled in any of the
King's Courts at Westminster, may or can do in England; in all
which Deeds, the Words grant, bargain, and sell, shall amount to,
and be construed and adjudged in all Courts of Judicature, to be
express Covenants to the said Commissioners or Trustees, their
Successors and Assigns, from the Bargainer or Mortgager, for him-
self, his Heirs, Executors, and Administrators, that the Mortgager,
notwithstanding any Act done by him or her, was, at the Time of
the Execution of such Deed, seised of the Messuages, Lands, Tene-
ments, or Hereditaments, and Premises thereby granted, of an in-
defeasible Estate in Fee Simple, free from all Incumbrances (Rents
due to the Lord Proprietary, with the other Rents and Reservation
contained in their respective Deeds, only excepted,) and for quiet
Enjoyment thereof, against the Mortgager, his or her Heirs and

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Assigns, and all claiming under him or her, or the former Owners
thereof, and also for a further Assurance to be made by the Mort-
gager, his or her Heirs, as the Case may require; so that the express
Covenants are not to be set down at large in any of the Mortgages ;
but that the said Commissioners or Trustees, and their Successors,
in the said Trust respectively, shall and may in any Action to be
brought, assign Breaches thereupon, as they might do, in Case such
Covenants were expressly inserted in such Deed.
And be it Enacted, That the said Commissioners or Trustees, or
any Two of them, may take Bonds or other Obligations, of able and
sufficient Persons, for any of the said Bills of Credit, at the Interest
of Four Pounds per Cent, per Annum, and so in Proportion for a
greater or lesser Sum, payable at such Time as shall be agreed on ;
which Bonds or Obligations shall be payable to the said Com-
missioners or Trustees, or their Successors, and shall be of the same
Force and Effect, to all Intents and Purposes, as Statutes Merchant,
or of the Staple; and shall and may be proceeded on, accordingly.
Provided, That the said Commissioners or Trustees shall not lend
any one Person above One Hundred Pounds, at any one Time, or
within Six Months; and that all the said Mortgages, or defeasible
Deeds being sealed and delivered to the said Commissioners or