Loan Agreement – Thomas Guy to William Blackett – 13 Jul 1723

13th July 1723

Copy of Articles between Sir Wm. Blackett & Mr. Guy

For the loan of £65,000



Articles of agreement Indented had made concluded and agreed upon this the thirteenth day of July in the 9th year of the reign of Our Sovereign Lord George by the Grace of God over Great Britain et. King Defender of the Faith et. Anno Dni 1723 Between Sir William Blackett of Wallington in the County of Northumberland Barronett Son and Heir of Sir William Blackett late of Wallington in Northumberland aforesaid Barronett deced of the One Part and Thomas Guy of Lombard Street London Esqr. of the other part in manner and form following that is to say 



Whereas a Treaty has been sett on Foot at the Instance and Request of the said Sir William Blackett party hereunto Between the said Sir William Blackett and the said Thomas Guy in and by which It hath been proposed that for the discharging of severall great Debts Portions Mortgages and Incumbrances charged on the Estate of the said Sir William Blackett and created as well by the last Will and Testament of the said Sir William Blackett the Father as by him the said Sir William Blackett party hereunto and for other the Uses and Occasions of the said Sir William Blackett party hereunto the said Thomas Guy should advance and lend unto the said Sir William Blackett the sum of Sixty five thousand pounds payable in annuities or Stock and in such manner and proportions as in hereinafter mentioned and agreed upon and for securing the Repayment of which with Interest after the rate of four pounds ten shillings per cent per ann The said Sir William Blackett party hereunto should at his proper Costs and charges prepare and make a good and sufficient Mortgage of such part of the Estate of the said Sir William Blackett scituate in the County of Northumberland and Durham or one of them as the said Thomas Guy shall elect and appoint not exceeding in the yearly Rents reserved for the same the sum of five thousand pounds per ann clearly and fully discharged of and from all such Incumbrances as aforesaid and all other Incumbrances whatsoever And whereas the said sum of Sixty five thousand pounds is intended to be raised by sale of part of the said Thomas Guy’s Interest or share in the Capitall or joint Stock erected by an Act of Parliament passed in the third year of his said Majesty King George for redeeming sundry dutys and Revenues et And attended with annuitys at four per cent per ann and also of the Capital Stock erected (in Lieu of Debentures made forth for the debt due to the Army) by an Act of Parliament passed in the fourth year of the Reign of his said Majesty King George and likewise attended with annuities after the rate of four per cent per ann And whereas the present Markett price or value of the said annuities or Stock and at which the same may be now sold in or near Exchange Ally in London is Ninety Six pounds ten shillings for every hundred pounds of the said annuities or Stock or upwards of that price 



Now these presents witness That the said Sir William Blackett party to these presents in pursuance of <our> Treaty and proposall as aforesaid doth for himself his heirs Exors and Admors hereby promise and agree to and with the said Thomas Guy his Exors & Admors in manner following that is to say That he the said Sir William Blackett shall and will as soon as the same can conveniently be done cause all the Deeds Writings and Evidences of and relating to the Title of his said Estate to be delivered to such Councill learned in the Law as the said Thomas Guy shall appoint for his or their Perusall and Approbation at the Costs and Charges of him the said Sir William Blackett and will likewise at his costs and charges prepare and execute or cause to be prepared and executed by and with the advice of such Council as aforesaid and of the Council of the said Sir William Blackett a good and sufficient Mortgage of such part of his said Estate as the said Thomas Guy shall elect appoint and approve of not exceeding in the yearly Rents thereof the sum of five thousand pounds per ann to and for the use of the said Thomas Guy his Exors Admors and Assigns for securing the said sum of Sixty five thousand pounds with Interest at the rate of four pounds ten shillings per cent per ann Subject to a proviso for avoiding the same upon the repayment of such sum of Sixty five thousand pounds with Interest after the rate of four pounds ten shillings per cent per ann declare for the same within the space of three years in such intended Mortgage to be mentioned and contained and with Provision that a years Notice shall be mutually given by each of the said Parties after the said three years when the said Moneys secured by such Mortgage shall be <called> or paid in and that freely and clearly exonerated and discharged of all Incumbrances as aforesaid 



and further that when such sum of Sixty five thousand pounds or any part thereof shall come to be advanced pursuant to such Treaty and proposall aforesaid by the said Thomas Guy for discharging of any the Incumbrances which affect the said Sir William Blackett’s Estate or for the use and benefit of the said Sir William Blackett The said Sir William Blackett his heirs Exors or Admors shall and will take and accept in lieu of such sum of Sixty five thousand pounds or any part thereof then to be advanced one or more Transferr or Transferrs from the said Thomas Guy to the said Sir William Blackett or to such Person or persons as the said Sir William Blackett shall from time to time direct and appoint of and so many of the said Annuities as computing the same at such price of Ninety Six pounds ten shillings for every hundred pounds thereof shall amount to or produce the said sum of Sixty five thousand pounds or such other sum or sums of money part thereof as shall be then or at any other time to be advanced and paid in discharge of the said Incumbrances or any of them or for the Use and benefit of the said Sir William Blackett The said Sir William Blackett having all such Dividends and Interest as shall from and after the day of the date hereof arise or be made for or in respect of such Annuities or Stock so to be transferred and in such manner to all Intents and purposes as if the said Thomas Guy should at such time or times actually advance and pay the same in lawfull money of this Kingdom notwithstanding any Alteration in the Markett Price or value of the said annuities or Stock that may happen between the day of the date of these presents and the time or times when such sum or sums of money shall come to be advanced by transferrs of such annuities or Stock 



And further that the said Sir William Blackett his heirs Exors & Admors shall and will in case such Treaty as aforesaid take effect pay and allow or cause to be paid and allowed to the said Thomas Guy his Exors and Admors Interest for the said sum of Sixty five thousand pounds after the rate of four pounds ten shillings per cent per ann to be computed from the day of the date of these presents And that the residue and Remainder of the Rents and Profitts of the said five thousand pounds per ann from and after the payment of the Interest of the said sum of Sixty five thousand pounds after the rate of four pounds ten shillings per cent per ann as aforesaid shall until the said sum of Sixty five thousand pounds shall become payable be paid from time to time to the said Sir William Blackett his heirs and Assigns And the said Thomas Guy for himself his Exors & Admors doth covenant promise and agree to and with the said Sir William Blackett party to these presents his Exors and Admors that in case such Treaty as aforesaid shall take Effect The said Thomas Guy his Exors and Admors shall and will notwithstanding any alteration that may happen in the Markett price or value of the said Annuities or Stock between the day of the date hereof and the time or times when such sum of sixty five thousand pounds or any other sum or sums of money part thereof shall come to be advanced according to the Intent of these presents transferr or cause to be transferred to the said Sir William Blackett his Exors or Admors or to such person or persons as he or they shall direct or appoint such and so many of the said Annuities or Stock to be computed at the said price of Ninety six pounds ten shillings for every hundred pounds thereof as shall amount to or produce the said sum of Sixty five thousand pounds or such other sum or sums of money part thereof as there shall be Occasion to advance and pay according to the true Intent and meaning of these presents and shall and will also pay and allow or otherwise permit and suffer the said Sir William Blackett and his Exors and Admors to receive and take all such Dividends and Interest as shall at anytime after the date of these presents And before such time or times of making such transferr or transferrs as aforesaid become due for or in respect of such Annuity or Stock so to be transferred 



In Witness whereof the Parties to these presents have hereunto interchangeably set their hands and Seals the day and year first above written



Wm Blackett          Thomas Guy



Sealed and Delivered being first lawfully stamped in the presence of George Allgood  <R[ichar]d> Bankes