White-High Point Perpetual Building & Loan Trust Deed, Aug. 15, 1922

DEED IN TRUST

Chester A. White and wife, Stella White,

TO

V. A. J. IDOL, TRUSTEE FOR THE HIGH POINT PERPETUAL BUILDING AND LOAN ASSOCIATION

30th SERIES

Deed----Consideration - - - - $1300.00 Dated 15th day of August, 1922

Filed for registration on the 16 day of Aug, 1922 at 4 o'clock PM., and registered in the office of the Register of Deeds of Guilford County, N. C., this [blank] day of [blank], 19[blank], at [blank] o'clock [blank]M., in Book 363 on page 601, etc.

R. H. Wharton Register of Deeds.

Clerk's Fee $25 Record Fee $175 Pd Fees paid by [blank]

Record and return to DRED PEACOCK Attorney, High Point, N. C.

[blue stamp across the deed: Cancelled of Record R. H. WHARTON, Register of Deeds]

STATE OF NORTH CAROLINA GUILFORD COUNTY

This Indenture, Made this 15th day of August, 1922, by and between Chester A. White and wife, Stella White, parties of the first part, and V. A. J. IDOL, party of the second part, and the HIGH POINT PERPETUAL BUILDING AND LOAN ASSOCIATION, of High Point, N. C., party of the third part,

WITNESSETH: Whereas the said Chester A. White is the owner of 13 shares fo stock in the 30th Series of the HIGH POINT PERPETUAL BUILDING AND LOAN ASSOCIATION; and

Whereas the said Chester A. White and wife, Stella White, are indebted to the said HIGH POINT PERPETUAL BUILDING AND LOAN ASSOCIATION in the sum of Thirteen Hundred Dollars, money loaned this day, the payment whereof the said Chester A. White and wife, Stella White, are anxious to secure:

NOW, THEREFORE, in consideration of the premises, and in further consideration of one dollar in hand paid, the receipt whereof is hereby acknowledged, the said parties of the first part have granted, bargained and sold, and by these presents do [blank] grant, bargain, sell, convey and release unto the said V. A. J. IDOL all that certain piece, parcel and tract of land lying in the county and State aforesaid, and bounded as follows, to wit:

In High Point Township, BEING known, numbered and designated as Lot No. 25 in Block No. 1 as shown on the plat of "Five Points" of the High Point Insurance & Real Estate Company land, which plat is duly recorded in the office of the Register of Deeds for Guilford County, N. C., in Plat Book No. 5, Page No. 252, to which registered plat reference is made. This lot 153 feet front, 222 feet on the North line, 24 feet in the rear and 175 feet on the South line.

TO HAVE AND TO HOLD the said premises, together with all the privileges and appurtenances thereto belonging or in any wise incident or appertaining, to the said V. A. J. IDOL, his successors and assigns, in trust for the uses and purposes hereinafter limited, described and declared. And the said Chester A. White covenants with the said V. A. J. IDOL that he is seized of said premises in fee, and has a right to convey the same in fee simple; that the same are free from all encumbrances, and that he will warrant and defend the said title to the same against the claims of any and all persons whomsoever.

PROVIDED, NEVERTHELESS, and on this express condition, that if the said Chester A. White and wife, Stella White, their heirs or legal representatives, shall, on or before the first day of each month from and after the date of these presents, pay or cause to be paid to the said HIGH POINT PERPETUAL BUILDING AND LOAN ASSOCIATION the monthly interest upon Thirteen Hundred Dollars, at the rate of six per centum per annum, evidenced by a bond bearing even date herewith, and the regular monthly installments of one dollar per share per month, until it shall be ascertained that the value of each share of stock in the 30th Series of the said Association shall have reached the par value of One Hundred Dollars, and shall then repay the said Association the sum of Thirteen Hundred Dollars, and pay all taxes when due, and shall in all respects comply with the Constitution and By-laws of said Association, as they now exist or hereafter may be amended; and, PROVIDED, FURTHER, that the said Chester A. White and wife, Stella White, in accordance with the said Constitution and By-laws, shall keep all buildings on said premises insured for a sum not less than Thirteen Hundred Dollars, the policy of insurance to be made payable to and held by the said Association, [blank], then this deed shall be void.

But if the said Chester A. White and wife, Stella White, shall make default in the payment of said monthly interest or monthly installments as aforesaid, or shall fail or refuse to keep the buildings on said premises insured as aforesaid, or shall make default in any of the aforesaid stipulations for the space of three months, or shall cease to be a member of said Association, or shall fail to pay all taxes assessed on the land hereby conveyed within sixty days after said taxes are payable, or in case said Association shall have paid any sum due for taxes or insurance on said property, or to remove any prior lien or encumbrance, or shall fail or refuse to pay the said Association on demand the sum so paid by it, [blank] then, and in such event, the said V. A. J. IDOL shall have the right, and it shall be his duty when requested by the party of the third part, to immediately enter upon and take possession of the said premises hereby conveyed and sell the same at public auction, for cash or credit as in the judgment of said Trustee may best subserve the purposes of this deed, first posting notice of sale at the courthouse door in Greensboro, North Carolina, and three other public places in Guilford County for thirty days immediately preceding the sale, and also publishing notice of said sale once a week for four successive weeks in some newspaper published in Guilford County, therein appointing a day and place of sale, and shall make and deliver to the purchaser thereof a title thereto, and out of the proceeds of said sale shall pay the expenses thereof and five per cent commission and pay to said Association the sum of Thirteen Hundred Dollars, and all claims then due the Association by said Chester A. White and wife, Stella White, and pay over the remainder, if any, to said Chester A. White and wife, Stella White, their heirs or legal representatives.

AND IT IS FURTHER STIPULATED AND AGREED that said Trustee shall be entitled to just compensation for any and all services performed, and expenses incurred, under this trust, which compensation shall constitute a part of the debt secured by this conveyance and be a lien on the property herein conveyed.

IT IS FURTHER STIPULATED AND AGREED that any sums expended by said Association for insurance of the property, or for payment of taxes thereon, or to remove any prior encumbrance, shall be added to and constitute a part of the debt hereby secured,and shall bear interest at the same rate.

IN TESTIMONY WHEREOF, the said parties of the first part have hereunto set their hands and seals, the day and year first above written.

Chester A. White [SEAL] Stella White [SEAL]

STATE OF NORTH CAROLINA, GUILFORD COUNTY

I, Pearl Leonard, a Notary Public in and for said County and State, do hereby certify that Chester A. White, and Stella White, his wife, personally appeared before me this day and acknowledged the due execution of the foregoing Deed in Trust and note; and the said Stella White being by me privately examined, separate and apart from her said husband, touching her voluntary execution of the same, doth state that she signed the same freely and voluntarily, without fear or compulsion of her said husband or any other person, and that she doth still voluntarily assent thereto.

Witness my hand and official seal, this 15th day of August, A. D. 1922

My commission expires February 8, 1924.

Pearl Leonard, N. P. [SEAL]

STATE OF NORTH CAROLINA, GUILFORD COUNTY.

I, [blank] in and for said county and State, do hereby certify that [blank] personally appeared before me this day and acknowledged the due execution of the foregoing Deed in Trust.

Witness my hand and seal, this the [blank] day of [blank], 19[blank]

[bland], N. P. [SEAL]

STATE OF NORTH CAROLINA, GUILFORD COUNTY.

The foregoing or annexed certificate of Pearl Leonard, a Notary public of Guilford County, is adjudged to be in due form and according to law. Therefore, let the same with the foregoing Deed in Trust and these certificates, be registered.

This 16 day of Aug., 1922

Andrew Joyner Jr Asst. Clerk Superior Court.

[blank], the Trustee [blank] in, and [blank] the owner and holder of, the [blank] secured by the [blank] hereinafter mentioned, join in this instrument for the purpose of releasing, and do hereby release, the land herein described and conveyed from the lien and operation of [blank] certain [blank] registered in Book [blank], page [blank], in office of Register of Deeds for said County of Guilford, in favor of said [blank], Trustee, his heirs and assigns, with intent to make the within and foregoing instrument a first and prior lien and claim on said land, and the debt herein secured first paybut expressly reserving all their rights and liens, subject only to this release.

WITNESS: [blank]

[blank] [SEAL] [blank] [SEAL] [blank] [SEAL] [blank] [SEAL]

Satisfied in full, this the [blank] day of [purple stamp on line of month: AUG 11 1924], 19[blank]

Subscribed before me. CH Ellis

V. A. J. Idol Trustee.

[blue stamp across the deed: Cancelled of Record R. H. WHARTON, Register of Deeds]