6

HIGH POINT, N.C. May, 25th 1912
I, John Reed
promise to pay to First Series THE PIEDMONT BUILDING AND LOAN
ASSOCIATION, OF HIGH POINT, N.C., the sum of ($500.00)
Five Hundred Dollars
for money loaned, with interest at the rate of six per cent. per annum, payable monthly, which amount
is secured by Mortgage of even date herewith, and upon default in the performance of any of the con-
ditions expressed in said mortgage, or in the Constitution and By-Laws of the Association, this bond is
to become due immediately, and the Association may, at once, exercise the powers conferred in said
mortgage.

Witness my hand and seal.

John Reid [SEAL]
Flossie Reid [SEAL]

Witness: H. L. Austin

For value received, I hereby assign to First Series of the Piedmont Building
and Loan Association, of High Point, N. C., Five shares of stock
therein as collateral security for a loan of $500.00 and upon default in repayment
of said loan, interest and cost thereon, at maturity, or at the time of its falling due, in case the said
bond should come due by failing to perform the conditions therein expressed, do hereby authorize the
said Association, by its Secretary and Treasurer, to sell said stock at private or public sale at discre-
tion, without advertisement or notice.

Witness my hand this 25 day of May 1912
John Reid

Witness: H.L. Austin

Satisfied in full
this Jan. 15, 1913
PIEDMONT BUILDING & LOAN ASSOCIATION
By W. C. Idol [?]

Witness B. S. Cummings