Coltrane-Graham-Kent Agreement, 1953

[stamped: VERIFIED]

PARTY-WALL AGREEMENT

J. W. Coltrane and wife, Eva H. Coltrane. James R. Graham and wife, Sallie Graham to R. S. Kent and wife, Ruth G. Kent

Mail to J. Welch Harriss c/o Harriss-Covington Hosiery Mills High Point

W. L. SHOFFNER ATTORNEY-AT-LAW SECURITY BANK BUILDING BURLINGTON, N. C.

1.75 Pd. .25 Pd.

NORTH CAROLINA ALAMANCE COUNTY

This AGREEMENT Made and Entered into this the 18 day of May, 1953, by and between J. W. COLTRANE and wife, EVA H. COLTRANE and JAMES R. GRAHAM and wife, SALLIE GRAHAM, of Guilford County, North Carolina, hereinafter referred to as parties of the first part, and R. S. KENT and wife, RUTH G. KENT, of Alamance County, North Carolina, hereinafter referred to as parties of the second part,

WITNESSETH:That, whereas, the parties of the first part are the owners of a certain tract or parcel of land in Burlington Township, Alamance County, North Carolina, adjoining the lands of Church Street, description of said property will be found in the office of the Register of Deeds for Alamance County in Deed Book 214, Page 227, to which reference is hereby made.

And, whereas, the parties of the first part are at the present time in the process of constructing a building on the above described property, as well as other properties adjoining the above described properties, which building is to be known as "The Kroger Building," and, whereas, the parties of the second part are the owners of a certain tract or parcel of land in Burlington Township, Alamance County, adjoining the lands of Church Street and being described in that certain deed which is recorded in Deed Book 157, Page 332, in the office of the Register of Deeds of Alamance County to which reference is hereby made for a more detailed description. For a more accurate description of said properties see survey prepared by W. T. Hall dated January 6th and 7th, 1953, done for Coltrane and Graham.

And, whereas, the parties of the second part do contemplate building a business building on the property which they own and it is to the mutual interest of all parties that they enter into a party wall agreement.

NOW, THEREFORE, In consideration of ($1.00) ONE DOLLAR and other good and valuable considerations paid by the parties of the second part, the receipt of which is hereby acknowledged, and in consideration of the sum of ($1.00) ONE DOLLAR paid by the parties of the first part to the parties of the second part, receipt of which is hereby acknowledged, the said parties do hereby enter into the following stipulations and agreements concerning a party wall contract:

(1) The parties of the first part shall construct a party wall to be equally located on the property of the parties of the first and second parts. The same shall be sixteen (16) inches in width and shall be a masonry wall of solid concrete block eight (8) inches of which shall be located on the property of the parties of the first part and eight (8) inches on the property of the parties of the second part.

(2) This wall is to be two feet higher than the roof of the Kent building. The additional height shall be twelve (12) inches in thickness after the joists of the Kent building join in the wall of the Kroger building and the top shall be coped with terra cotta coping.

(3) Each of the parties shall have the privilege of increasing the height of their respective buildings in the future by extending the height of the present party wall. All expenses incurred in the construction and maintenance of any addition to the height shall be borne by the party making the same; provided, however, that should the other parties decide to increase the height of their building at the same time or at a future date, the said other parties shall bear 50 per cent of the cost of said extension in height, for that portion of the said higher wall actually used by them. Said payment is to be made upon completion of said other parties' addition to their building. Each of the parties hereby consents to and gives to the other parties and their heirs and

assigns the right and privilege of increasing the height of the wall by adding to the present contemplated height and this privilege shall be in the form of an easement over that portion of the property owned by the other parties on which the party wall is now being constructed. The party wall to be constructed hereon shall be built and constructed according to the city code and specifications.

(4) The length of this party wall shall be 135 feet more or less since this is the depth of the Kent lot. However, the building being constructed by the parties of the first part shall extend beyond the depth of the lot owned by the parties of the second part. The party wall rights acquired by the parties of the second part herein shall end with their present property line plus twelve (12) inches which is to include the depth of the V. B. Splawn wall. This additional 12 inches is being placed in this construction by reason of the fact that the parties of the second part are entering into a party wall agreement with the said V. B. Splawn.

(5) The parties of the first part shall in the construction of the wall allow the parties of the second part the privilege of installing all necessary conduits as the wall is being constructed. The parties of the second part shall water proof the north wall of the building now being constructed by the parties of the first part to the full depth of the party wall unless the parties of the second part build on their lot immediately.. The parties of the second part shall pay to the parties of the first part the sum of ($2000.00) TWO THOUSAND DOLLARS for the use and benefit of this party wall since the same is being constructed by the parties of the first part, and it has been agreed upon between the parties hereto that $2,000.00 is a fair and reasonable price for the parties of the second part to pay to the parties of the first part.

(6) All parties hereto, after the completion of the party wall, shall have the full privilege of using the same in the usual

manner, and these rights shall pass to their heirs and assigns. All agreements herein shall be covenants running with the land and shall inure to the benefit of and be binding upon the heirs and assigns of all parties hereto.

(7) If it becomes necessary at any time after such wall shall have been used by both parties to repair or rebuild the same, or any part thereof, the cost thereof shall be borne equally by both parties in proportion to their use thereof. In the event that either or any of the parties at any time extend the said wall to such greater height as may be lawfully done, the parties building such extension shall make good all damages done to the property of the other parties who may be so damaged.

(8) Each of the parties shall be responsible for the run-off water from their respective buildings.

In Witness Whereof the parties hereto have set their hands and seals this the 18 day of May, 1953.

J. W. Coltrane (SEAL) Eva H. Coltrane (SEAL) James R. Graham (SEAL) Sallie Graham (SEAL) R. S. Kent (SEAL) Ruth G. Kent (SEAL)