Page 4 Advertisements Column 3

New Zealand Herald, Volume X, Issue 3751, 18 November 1873, Page 4

Public Companies. AND PERMANENT CO-OPERATIVE BUILDING AND INVESTMENT SOCIETY. NOTICE. A Special General Meeting of Members of the Auckland Permanent Co-operative Building and Investment Society will be held at the Rooms of the Young Men's Christian Association, Auckland, on TUESDAY EVENING, December IC, after the close of the ordinary Half-yearly Meeting on that date. The business of the Special Meeting is set forth in the requisition following. JOHN BATGER, Secretary. The Secretary Auckland Permanent Co-operative Building and Investment Society. Sir, —You arc hereby requested to convene a Special General Meeting of the Members of the Auckland Permanent Co-operative Building and Investment Society for the purpose of considering the following proposed alterations in the Rules of the Society, and, if approved, of adopting the same, as is recommended by the Committee. The proposals to be made to the Meeting are that the present Rules Nos. 4, 7, 52, 50, 02, 73, 7G, and SO be repc&le.l, and the following enacted instead; viz.:— New Rule 4. 4. The offices of tho Society shall be at Valles' Buildings, Wyndham-street, Auckland, or such place as the Committee may from time to time appo'nt. The offices shall, until otherwise ordered by the Committee, be open for the purpose of receiving subscriptions nnd repayments and transacting all other business which may be required to be done under these rules, on M ondays from 9 a.m. till half-past 10 a.m., and on Saturdays from 6 p.m. till S p.m. Every Monday—commencing with Monday, the Ist day of April, 1872—t0 be tho weekly pay-day of the Society. The Committeo shall have power from time to time to rstablish Branch Offices at such place or places as to them shall seem expedient. New Rule 7. 7. A member of tho Committee, or some other member of the Society duly appointed in that behalf by the Committee, shall atteud a* the times fixed by the ruh'S for payment of mon°.y, and be present at all payments tendered from shareholders or others to the Secretary, and the duty of the member so attending shall be to enter or cause to be entered particulars of all such payments in the Cadi Book, and pUce the initial letters of his name opposite to each such entry. The uoney so received shall be paid by the Secretary to the Treasurer, and the Secretary, upon paying over such money to the Treasurer, sh;»ll produce to the Treasurer the said Cash Book containing the entries hereinbefore mentioned. Members of Committee shall attend in rotation, and shall be entitled to receive the sum of five shillings for each such attendance: any member of Committee failing to attend in his rotation either in person or by substitute (such substitute to be a member of Coinmittec)shall be fined for such non-attendance the sum of ten shillings. New Rule 52. 62. As oftsn as the funds of the Society shall amount to twenty pounds, or by anticipation (that is, before the funds actually amount to that sum), if the Committee so determine, the same shall respectively be awarded to the applicants for loans in the order in which their applications are numbered, on the following terms:—That applications ior advances shall be mude in the form Schedule A appended to these Rules, and shall be numbered and recorded according to tho dates at which they are received by the Secretary in a register to be kept by him for that purpose; and such applicitions shall be considered and decided by the Committee of Management in the order in which they are recorded. And the Committee shall, if satisfied with tho security offered, authorise the Trustees to make advances to the member offering such security for any term not exceeding ten years, the principal and interest to be repaid to tlw Society by weekly instalments or contributions at the rates And for the periods hereinafter mentioned. If the loan is repayable in run share. 8. <L Ten years, the weekly payment shall be .. 13 E-'ght years .. .. .. .. ..10 Six years 1 10 Four years 2 0 Any shorter periods the weekly payment* shall be at such rate equitably with above as tho Committee may by by-law from time to time appoint. New.Rule'sG. 50. When a shareholder has applied for an advance, and sent in the form (containing particulars of the proposed security) filled up, the JSnrvey Committee shall report thereon to the Committee of Management within seven days thereafter; aud after they are satisfied that tho property ofTered as aforesaid, whether in freehold or leasehold, or the investing shares of such member, are a sufficient security to the Society, they shall direct the Treasurer to pay such member the sum or sums of mousy whieh he shall be entitled to receive, on such member «'x«'C»»ting to the Trustees a deed of mortgage in the form Mchcdule K appended to these rules, or a transfer, bond, or any other necessary document, in one of which sh;»H be contained a power of sale and entry on default, and all other powers and covenants usunlly inserted in deeds and documents of like nature as the Solicitor or Solicitors to the society shall require, and depositing the same and all other necessary title-deeds relating thereto with the Trustees as security to the Society for so much money as shall ho therein expressed to be secured: and the Treasurer shall make such payments accordingly. New Rule 02. 02. In every deed of mortgage, bond, or other assurance of freehold or leasehold property the words "will insure" snail imply as follows:— That the said Mortgagor will insure, and so long as the term expressed in the said deed of Mortgage or other instrument shall not have expired will keep insured in tho names of the said Trustees in comu public Insurance office to be approved by them against loss or damage by fire to the full amount specified in such instrument, or if no amount be specified then to their full value all buildings, tenement?, or premises erected on such land which shall be of a nature or kind capable of being insured against loss or damage by lire— and that the said Moitgagor shall and will at the request of tho Trustees band over to and deposit with them the policy of evciysuch Insurance and produce to them the receipt or receipts for the annual or other premium payable ou account thereof, and also that all moneys to be rccei\vd under or by virtue of any such Insurance shall in t' e event of loss or damage by lire be laid out and expe:r. wl in making good such loss or damage, provided al;»that if default shall be made in the observance or performance of the covencut last above mentioned it shall be lawful for the Trust'-es without prejudice nevertheless to (and concurrently with the powers granted them by the said mortgage or other deed) insure such building or buildings and the cost and charges of such Insurance shall, until pucli Mortgage bo redeemed, be a charge upon such laud. New Rule 02a. 02a. In the said deed of mortgage, bond, or other assurance of freehold or leasehold property there shall be implied the following covcnama by the Mortgagor his heirs, executors, administrators and assigus:— That he or they wilt duly and punctually pay all subscriptions, fiiKjs, interest, payments, repayments ami sums of money, at the times and in the manner specified in these Rules or in the Rule-? of the said Society; That he or they will observe, perform, fulfil and keep all conditions, agreements, rules and regulations contained or implied therein or in tho said Kulea, and on his and their part respectively to be observed, performed aud kept. New Rule G2b. 02n. In the said deed of mortgage, bond, or other assurance of freehold or leasehold pjopr-rty there shall be implied the following powers in the Trustees for the time being of the said Society, their successors aud tvsfcns: — That in case the Mortgagor shall at any time fail, neglect, or refuse for twelve (12) weekly pay days to pay, ol'servc,*.»nd perform all or any of his payments, repayments, covenants, conditions and regulations on his part respectively to b»? paid, observed, and performed, it shall be lawful for but not imperative upon the Trustees to appoint a person or persons to collect the rents and profits of the premises hereby demited. And that at any time after such failure, neglect, or refusal, and whether the said power to collect tho said rents and profits shall or shall not have been exercised the Trustees shall have power without the concurrence or consent of the said Mortgagor absolutely to sell and dispose of all or any part of the said premises either by public auction or private contract as to them shall seem advisable, for tho mo*t money that can be reasonably had or gotton for the same, and to receive the purclmse-money arising therefrom; and at such public sale the Trustees, or one of them, or some other person to be appointed by them or him in writing, shall bo allowed to buy in the premises on behalf of the said Society, and to re-sell tho tame without being answerable for any loss to bo occasioned by such resale, and that out of the money to urise from such collection of rents or profits or such sale as aforesaid, the Trustees shall, in the place, discharge all costs, charges, and expenses which may ha incurred on account of such collection of rents, nnd commission to an agent for collecting the same, or sale or sales, or in anywise relating to the trusts in the said deed contained or implied, and in tho next place shall retain and reimburse themselves and the said Society all such principal repayments, fines and other payments as shall then be due, owing and payable by the said Mortgagor under and by virtue of these Jvules or the said deed of mortgage, bond or other assurance, and tho money so retained for the said Society shall be immediately placed in the Society s hank to tho account of the said Society, and tho Trustees shall and will pay the : surplus (if any) to the said Mortgagor or his assigns or to sueli other person or persons ho or she shall bv wci ng under his or her hand, direct or appoint to same; and that the receipt or receipts of I i i [f? 15 or the time being acting under the said ' V° n a " 1 iciont discharge or discharges to ail T?«w »m H: JLVSI l J a f c w paying any money to tho said I Trustees, without being accountable for tho misappropriation or non-application thereof, and that tho i purchaser or purchasers shall not be required or be 1 under the neceesft to enquire into such sale or sales. t or tlio regularity thereof, or w ther any default bad been made. t