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Literary and Scientific Institutions Act 1854

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XIXTrustees to be indemnified from Charges; in default thereof empowered to mortgage or sell the Premises.

The Trustees of such Institution who, by reason of their being the legal Owner of the Building or Premises, shall become liable to the Payment of any Rate, Tax, Charge, Costs, or Expenses, shall be indemnified and kept harmless by the governing Body thereof from the same, and in default of such Indemnity shall be entitled to hold the said Building or Premises and other Property vested in them as a Security for their Reimbursement and Indemnification, and, if Necessity shall arise, may mortgage or sell the same, or Part thereof, free from the Trusts of the Institution, and apply the Amount obtained by such Mortgage or Sale to their Reimbursement, and the Balance (if any) to the Benefit of the Institution, subject to the Restrictions herein-before contained with regard to Lands given and Lands belonging to the Duchies aforesaid.

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