This poser asked you to identify the tenure under which George Ogilvie's property in Banff was held.
Answer: the tenure was blench ferme. The badly formed word in line 5 appears to be blence. The sentence in full reads: Payis thairfoir yeirlie ane pennye money of this realme In name of blence ferme dewtie.
Property held in blench (or blanch) was owned in return for the payment to the feudal superior of a nominal annual sum of money (usually very small) or some other token (for example, a red rose at midsummer; or a hawk at Lammas, if asked for). In the case above, George Ogilvie has use of the tenement, which includes houses, buildings (biggingis) and associated rights to pasturage etc (pertinentis) in return for a duty of one penny per annum. Blench was often used to provide dwellings or sources of income to widows or other family members when the succession passed to another line of the family, or by a landowner to provide property for religious or charitable purposes while still retaining superiority.
Transcription
George Ogilvie of Carnowsie p[rese]nt proprietar
Off ane Temple tenement in Banff w[i]t[h] houss[is]
biggingis yairdis & pertinentis th[ai]rof Lyand within
the burgh of Banff Payis thairfoir yeirlie ane
pennye money of this realme In name of blence
ferme dewtie - - j d
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