No. 5. Acknowledgment of Transfer of Shares in Security.

I Hereby acknowledge that_______Shares, numbered

have been this day transferred by

to the President and Treasurer of the Standard Property Investment Society, as security for the payment of the sum of £_______on the_______day of_______next, and the said Shares are subject to the provision of Nos. 54 and 55 of the Rules of the Society.

Dated this_______day of_______18