Reid-Jones Deed, April 24, 1944

801 Park St.

DEED OF TRUST FROM John Reid and wife, Flossie L. Reid

TO

G. H. Jones, Trustee

BOOK No. 1033 PAGE 203

Clerk's Fee .25 Record Fee 2.00 Total 2.25 [Pd]

Mail to J. V. Wilson, Jr. High Point, N. C.

[Stamped: Cancelled of Record J. H. McADOO, Register of Deeds]

NOTE

$1530.00

FOR VALUE received of it, we promise to pay City of High Point the sum of One Thousand Five Hundred Thirty and no/100 Dollars, with interest thereon at six per cent (6%) per annum, payable as follows, to wit: $29.60 each month for fifty nine months beginning on the 1st day of June 1944, and the balance of said principal and interest (at six per cent [6%] per annum) the 60th month.

THIS NOTE is given for the unpaid balance of the purchase price of land and is secured by a Deed of Trust of even date herewith to G. H. Jones as Trustee.

BUT IT IS EXPRESSLY UNDERSTOOD AND AGREED that should any installment of principal and/or interest, or any part of either remain overdue and unpaid for ten days, the holder of this note may, without notice, declare the whole of the unpaid balance due and payable and demand the foreclosure of the accompanying Deed of Trust.

THE MAKERS of this note severally waive demand for payment, and notice of non-payment, and also waive any and all defenses on the ground of any extension or partial payment which may be granted or accepted by the holder before or after maturity. It is expressly understood and agreed that the makers of this note have the privilege of paying the full amount of principal before maturity without pwnalty.

Witness their hands and seals this the 24th day of April, 1944.

John Reid [SEAL] Flossie L Reid [SEAL]

Witness: Claryce O. Norman My Commission Expires Sept. 23, 1945

[Stamped: Cancelled of Record J. H. McADOO, Register of Deeds]

Satisfied in full 2/11/46 CITY OF HIGH POINT By Lois Welborn CITY TREASURER

DEED OF TRUST

STATE OF NORTH CAROLINA GUILFORD COUNTY

THIS DEED OF TRUST, Made and entered into this 24th day of April, A.D., 1944, by and between John Reid and wife, Flossie L. Reid , of Guilford County, in said State, parties of the first part; G. H. Jones, Trustee of Guilford County; in said state, party of the second part; and City of High Point, a municipal corporation of Guilford County, in said State, party of the third part,

WITNESSETH FOR THAT WHEREAS the said John Reid and wife, Flossie L. Reid is/are indebted to the said party of the third part in sum of One Thousand Five Hundred Thirty DOLLARS $1530.00) for which the said parties of the first part has/have executed and delivered to said party of the third part, as aforesaid, a note of even date herewith in said sum of One Thousand Five Hundred Thirty and no/100 ($1530.00), with interest at six per cent (6%) per annum, payable as follows, to-wit: $29.60 each month for fifty nine months beginnings on the 1st day of June, 1944, and the balance of said principal and interest (at six per cent [6%] per annum) the 60th month.

And it has been agreed that the payment of said debt shall be secured by the conveyance of the land hereinafter described.

NOW, THEREFORE, in consideration of the premises and for the purpose aforesaid, and for the sum of one dollar ($1.00) to the parties of the first part paid by the party of the second part aforesaid, said John Reid and wife, Flossie L. Reid have bargained, sold, given, granted, and conveyed, and by these presents do bargain, sell, give, grant, and convey to said G. H. Jones, Trustee, his heirs and assigns a certain tract of land lying and being in Guilford County and State of North Carolina, in High Point Township, and more particularly described as follows:

Being lot No. 9, block 14 of the High Point Development Company Subdivision as duly recorded in Office of Register of Deeds of Guilford County, N. C., book 53, page 561.

[stamped: Cancelled of Record J. H. McADOO, Register of Deeds]

Satisfied in full 2/11/46 CITY OF HIGH POINT By Lois Welborn CITY TREASURER

TO HAVE AND TO HOLD said land and premises, with all the rights, privileges, and appurtenances thereunto belonging to him, said party of the second part, his heirs and assigns forever, upon the trust and for the uses and purposes following and none other, that is to say:

If the said parties of the first part shall fail or neglect for ten days to pay any installment of the principal or interest on said note as the same may hereafter become due, or any part of either, or any note or bond given in renewal, in whole or in part thereof, or any amount expended for insurance or taxes as herein provided, the whole of the unpaid balance of said note and interest shall become due and payable, then on application of said party of the third part, its successors or assigns, or other persons who may be entitled to the moneys due thereon, it shall be lawful for, and the duty of, the said party of the second part to advertise said land in some newspaper published in said County of Guilford at least once a week for four successive weeks; or if there be no newspaper published in said County, then in three or more public places in the County aforesaid, for thirty days therein appointing a day and place of sale, and at such time and place to expose said lands at public sale to the highest bidder for cash, and upon such sale to convey title to the purchaser.

And the said party of the second part, first retaining (out of the proceeds of such sale) five per centum (5%) commission on the sale of the whole of said land sold, as a compensation for making such sale, shall apply so much of the residue as may be necessary to pay off and discharge said note and all interest then accrued and due thereon, and all sums expended for taxes and insurance as herein provided, together with all necessary expenses of advertising and selling; and shall pay the surplus, if any remain, to said part of the first part.

It is understood and agreed between the parties to this deed, that the parties of the first part shall pay all taxes within the time prescribed by law, and shall keep the buildings on the said premises insured in some reliable insurance company having an agency in the said County of Guilford in the sum of One Thousand Five Hundred Fifty and no/100 DOLLARS ($1550.00), which said policies shall be payable to the party of the third part, as its interest may appear, and deposited with the City Clerk to be applied, in case of loss, as far as it may extend to the satisfaction of this trust. And if the parties of the first part shall fail to pay said taxes or to insure said buildings for ten (10) hours, the party of the third part or the Trustee shall be at liberty to pay said taxes or effect such insurance, and the amount so expended shall be deemed principal money, bearing interest at the rate of six per centum (6%) per annum, and be payable when the next installment of interest becomes due.

It is further stipulated and agreed, that any statement of facts or recital by said Trustee in his deed of trust in relation to the nonpayment of the money secured to be paid, the amount due, the advertisement, sale, receipt of the money, and the execution of the deed to the purchaser shall be received as prima facie evidence of such fact.

And it is stipulated and agreed, that if said parties of the first part shall pay off said note and interest, and discharge fully the trusts herein declared before such sale, or the same shall be done by a sale of part of said lands, then so much of said lands as may not have been sold and are not required to meet any of said trusts shall be conveyed to said parties of the first part or the title thereto vested in them according to the provisions of law.

And the said parties of the first part, do covenant to and agree with said party of the second part, his heirs and assigns: That they are the owners and are seized of said premises in fee simple; that they have the right to convey the same; that the same are free from any encumbrances whatsoever; that they will forever warrant and defend the title to the same from the lawful claims of all persons whomsoever; and that they will execute such further deed or deeds as may be necessary or proper to carry out the true intent and purpose of this trust.

IN TESTIMONY WHEREOF, the said parties of the first part do hereto subscribe their respective name and affix their seals the day and year first above written.

John Reid [SEAL] Flossie L. Reid [SEAL]