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Charge to be subject to progressive Diminution in respect of Lapse of Time.
Saving in favour of the Person building.
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VIII. That every such Charge in respect of any Building or Improvement made as aforesaid shall be subject to a fixed annual Decline or Reduction in respect of Lapse of Time by a Sum equal to and at the Rate of Two Pounds Ten Shillings for every Hundred Pounds of the Amount originally charged by the said Certificate for every Year and proportional Part of a Year that shall elapse while such Ecclesiastical Person claiming by himself or his Representatives to be entitled to the Benefit of the same shall have been entitled to the Rents, Issues, and Profits of the See, Benefice, or Ecclesiastical Preferment upon which the same is made chargeable, until the entire Amount thereof shall have been thereby extinguished: Provided always, that in respect of the Ecclesiastical Person who shall have obtained the said Certificate, and his Representatives, such Charge shall not be subject to any such Reduction in respect of Lapse of Time, until, in the Case of any Purchase or building of a new House or Offices, after the Expiration of the full Term of Five Years, and in all other Cases until after the Expiration of Three Years from the Date of the Approval of the Person or Persons hereby authorized thereto to the Memorial presented by or on behalf of the said Ecclesiastical Person, or such Part of the said aforesaid Term as such Ecclesiastical Person shall continue to hold the said See, Benefice, or Preferment, and in every such Case the said Charge shall begin to decline from and after the Expiration of the said Term of Years commencing from the Date of the said Approval, or from the Death or Avoidance of such Ecclesiastical Person (whichever shall first take place), and not sooner.
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