Persons entitled
- Cumberland Building Society
Brief description
The borrower with full title guarantee charges to the society as a continuing security for the payment of all moneys obligations liabilities costs expenses and interest hereby covenanted to be pair or otherwise secured:. (A) by way of first legal mortgage the property (being the freehold property situated at plot 4, the bridles, main street, north sunderland, seahouses, northumberland, NE68 7UD now known as 4 brindles manse, north sunderland, seahouses, NE68 7WJ). B. by way of fixed charge and assignment to the society:. (I) the benefit of all present and future licences held in connection with the carrying out of the business and in particular the benefit of any licence and any other licence issued under any statutory provision controlling the conduct of the business and the benefit of all compensation which may from time to time become payable to the borrower on account of non-renewal of any such licence;. (Ii) all the rights, titles, benefits and interests whether present or future of the borrower to all rents and other monies from time to time due, owing or incurred to the borrower under any lease, agreement for lease, tenancy agreement, licence and any other right of occupation of the property including the right to receive the same and the full benefit of any guarantee or security for the performance thereof now or at any time hereafter given together with all claims, causes of action and damages arising in connection therewith and any proceeds of the foregoing. (C) insofar as the borrower has the benefit of the same by way of first fixed equitable charge the benefit of all guarantees warranties representations given or made by and any rights or remedies against all or any of the architects, quantity surveyors, building contractors and consulting engineers now or at any time engaged by the borrower in relation to the property and the manufacturers suppliers or installers of all plant machinery fixtures fittings and other items now or from time to time in the buildings erected or to be erected on the property and any other person firm or company now or from time to time under contract with or under a duty to the borrower and the benefit of all sums recovered in any proceedings against all or any such persons.. (D) by way of first fixed charge the following:. (I) all the goodwill of the borrower;. (Ii) the full benefit of all contracts entered into by or with the borrower;. (Iii) all those the book debts and other moneys which now are or may hereafter become owing to the borrower and the proceeds of payment and realisation of each of them;. (Iv) all capital profits and other moneys received by the borrower.
Contains floating charge.
Floating charge covers all the property or undertaking of the company.
Contains negative pledge.