Section 138

In every memorandum transferring any land subject to a charge, there shall be implied the following agreement by the transferee with the transferor and, so long as the transferee shall remain the proprietor, with the chargee, that is to say, that the transferee will pay the principal sum, interest and other moneys secured by such charge at the rate and at the time or times specified in the instrument creating the same, and will indemnify and keep harmless the transferor from and against the principal sum, interest and other moneys secured by such instrument and from and against all liability in respect of any of the agreements therein contained, or by this Code implied, on the part of the transferor.