3

To have and to hold the said tract or parcel of land and all privileges and appurtenances thereunto
belonging to the said party of the second part and its successors and assigns forever.
And the said parties of the first part do [blank] covenant that they are
seized of the said premises in fee and ha [blank] the right to convey the same in fee simple; that the same are
free from incumbrances; and that they will warrant and defend
the said title to the same against the claims of all persons whatsoever
Provided Always, and these presents are upon the express condition that if the said parties of
first part shall well and truly pay or cause to be paid to the first party of the second part whatever it shall
be ascertained by the Board of Directors of the said First Series Mechanics
Perpetual Building & Loan Association that the value of each share of stock in said [blank]
First Series Mechanics Perpetual Building & Loan Association amounts to the sum of one
hundred dollars, according to its plan of organization, and operation as appears in the constitution and
by-laws of the said First Series Mechanics Perpetual Building &
Loan Association, which are made a part of this deed, the sum of
Seven Hundred and 00/100 Dollars,
evidenced by a bond bearing even date herewith, with interest thereon at the rate of six per cent. per annum,
payable in monthly installments until the principal money shall all be paid according to the terms of said
bond and constitution and by-laws aforesaid, then these presents and the said bond shall determine and
be void.
It is understood and agreed that the said parties of the first part shall keep the Buildings
on said premises insured in some reliable Insurance Company having an agency in the County of Guilford
[blank] in the sum of $3/4 Value, and if any loss or damage should occur,
the same shall be payable to the said First Series Mechanics Perpetual Building
& Loan Association, its successors or assigns, to be applied to the satisfaction of this mortage; and if the
mortgagor shall fail to insure said Buildings for two hours, the mortgagee shall be at liberty to effect such
insurance, and the amount so expended shall be deemed principal money, bearing interest at six per cent.
per annum, and be payable when the next monthly installment is due.
It is further understood and agreed, That the mortgagor shall pay all taxes within the time pre-
scribed by law, and in case the mortgagee shall have said taxes to pay, the amount so expended shall be
deemed principal money, bearing interest at six per cent. per annum, and be payable when the next
monthly installment is due.

To have and to hold the said tract or parcel of land and all privileges and appurtenances thereunto
belonging to the said party of the second part and its successors and assigns forever.
And the said parties of the first part do [blank] covenant that they are
seized of the said premises in fee and ha [blank] the right to convey the same in fee simple; that the same are
free from incumbrances; and that they will warrant and defend
the said title to the same against the claims of all persons whatsoever
Provided Always, and these presents are upon the express condition that if the said parties of
first part shall well and truly pay or cause to be paid to the first party of the second part whatever it shall
be ascertained by the Board of Directors of the said First Series Mechanics
Perpetual Building & Loan Association that the value of each share of stock in said [blank]
First Series Mechanics Perpetual Building & Loan Association amounts to the sum of one
hundred dollars, according to its plan of organization, and operation as appears in the constitution and
by-laws of the said First Series Mechanics Perpetual Building &
Loan Association, which are made a part of this deed, the sum of
Seven Hundred and 00/100 Dollars,
evidenced by a bond bearing even date herewith, with interest thereon at the rate of six percent. per annum,
payable in monthly installments until the principal money shall all be paid according to the terms of said
bond and constitution and by-laws aforesaid, then these presents and the said bond shall determine and
be void.
It is understood and agreed that the said parties