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DEED IN TRUST
EDITH H. PERRY, Guardian TO THOS. W. SPRINKLE TRUSTEE FOR THE HIGH POINT PERPETUAL BUILDING & LOAN ASSOCIATION
Deed-Consideration $4,000.00 Dated [blank] day of [blank], 19[blank]
Filed for the registration on the [blank] day of SEP 15 1942, at 2:25 o'clock P.M., and registered in the office of the Register of Deeds of Guilford County, N.C., this [blank] day of SEP 15 1942 at 2:25 o'clock P.M, in Book 990 on page 434, etc. J. H. McAdoo Register of Deeds.
Clerk's Fee $.25 Record Fee $1.75 [Total] $2.00 Pd. Fees paid by [blank]
Record and return to HIGH POINT PERPECTUAL BUILDING & LOAN ASSOCIATION High Point, N.C.
[stamped: Cancelled of Record McADOO Register of Deeds]
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STATE OF NORTH CAROLINA GUILFORD COUNTY
This Indenture Made this ______________________2nd______________day of __September___________19_42__ by and between____EDITH_H._PERRY__and__husband__HENRY_D._PERRY___EDITH_H._PERRY___ Guardian__of__WILLIAM_S._PERRY___MARGARET_S._PERRY___JOHN_C.C._PERRY___{Minors)___ Hereinafter referred to as party of the first part the term to include all persons or corporations executing this instrument and_____ ___THOS._W._SPRINKLE____TRUSTEE, party of the second part, and the HIGH POINT PERPETUAL BUILDING AND LOAN ASSOCIATION of High Point N. C. a corporation party of the third part.
WITNESSETH: That whereas, the said party of the first part has this day borrowed from said Association the principal sum of _______---FOUR__THOUSAND---___________________Dollars ($4,000.00)_______ and has executed and delivered to said Association his note or bond of even date herewith in the said principal sum and bearing interest from the date hereof until paid at the rate of ____6___ per centum per annum payable as to principal and interest monthly as hereinafter set forth on the 1st day of each month at the office of said Association and whereas the party of the first part has subscribed for and taken out certain shares of Direct Reduction Loan Shares in said Association and has assigned same as security for the said debt and has agreed to pay one installment on said shares of not less than___FIFTY__EIGHT__&__45/100___Dollars ($__58.45__) on or before the 1st day of___October___19__2__ and an installment of like amount on or before the 1st day of each month thereafter____________________until said note and all interest thereon shall have been fully paid, and until any and all moneys advanced by the Association for the benefit of the party of the first part, and interest thereon, shall likewise have been fully paid, it being understood and agreed that said monthly installments shall be applied in the following order: (1) to the payment of interest on said note, (2) to the payment of any sums advanced by the Association under the terms of this deed of trust for the benefit of the party of the first part and not otherwise paid, and interest thereon, (3) to the principal of said note; and whereas, it has been agreed that the payment of said note and such advances shall be secured by said shares and by this deed of trust:
NOW, THEREFORE, in consideration of the premises and for the purpose aforesaid and for the sum of One Dollar to the party of the first part in hand paid by the party of the second part the receipt whereof is hereby acknowledged the said party of the first part has granted, bargained and sold and by these presents does grant, bargain, sell, convey and release unto the said party of the second part, as trustee, his heirs and successors in office, all that certain piece, parcel and tract of land lying in said County and State aforesaid, and bounded as follows, to-wit:
High Point Township Guilford County North Carolina.
Being all of lots Nos. 3, 4 of Forest Park. A Plat of which is duly recorded in the office of the Register of Deeds for Guilford County, in Plat Book 9 at Page 60.
Lots No. 3 is located on the West side of Wiltshire Boulevard and is 60x135 feet; Lot No. 4 is located on the West side of Wiltshire Boulevard and is 97x135 feet.
The above described lots are a part of the land conveyed by Henry D. Perry, to Edith H. Perry, et al by deed dated September 24, 1935 and recorded in Book 716 at Page 297. See also 512-356; 551-154, 414-600, etc.
[stamped diagonally] Cancelled of Record H. [McADOO?] Register of Deeds
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TOGETHER WITH ALL heating plumbing and lighting fixtures and equipment now or hereafter attached to or used in connection with the said real estate.
TO HAVE AND TO HOLD The aforesaid land and personal property together with all the rights privileges and appurtenances thereunto belonging unto said party of the second part trustee as aforesaid and his heirs successors and assigns forever upon the trust and for the uses and purposes following and none other that is to say:
IF THE SAID PARTY OF THE FIRST PART Shall fail or neglect to pay any monthly installment as above provided or any monthly payment required to meet current taxes assessments and insurance or any amount expended by the Association for insurance taxes assessments repairs or other charges against the said lands or for the removal of any encumbrances thereon or if the party of the first part shall fail or neglect to pay any dues or fines on shares required of him to be carried in said Association as the same may hereafter become due or if the said party of the first part shall cease to be a member of said Associaion or shall fail or neglect to perform any duties imposed upon him by the By-Laws of said Association or shall fail to keep and observe carry out and perform any requirement contained in said note or this deed of trust then upon default in any one of the foregoing respects for a period of thirty days it shall be lawful for and the duty of the said Trustee upon demand of said Association its assigns or other persons who may be entitled to the moneys due on said note to immediately enter upon and take possession of 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 purpose of this deed first advertising same according to law and in said advertisement appointing a day and place of sale and shall make and deliver to the purchaser thereof a title thereto. And the said party of the second part first retaining out of the proceeds of such a sale a two and one-half per centum commission on the first $1,000 and one per centum on the excess thereof with a minimum of $25.00 as 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 together with all necessary costs and expenses of such sale and shall pay the surplus if any remain to the said party of the first part.
IT IS UNDERSTOOD AND AGREED That the parties of the first part shall pay all taxes or other assessments which may be levied upon or against said property within the time prescribed by law and shall upon demand of the Association pay to it monthly in advance one-twelfth of the estimated taxes assessments and insurance premiums for the current year and shall keep the buildings on said premises insured against loss or damage by fire and other hazards in such amounts and in such insurance company or companies as the Secretary of the Association may require which policy or policies shall be payable to said Association as its interest may appear and be deposited with the Association to be applied in case of loss as far as the same may extend or may be necessary to the satisfaction of this trust and further that the said parties of the first part shall keep the property herein conveyed free and clear of any and all encumbrances thereon which by law may have a priority over the lien created by this trust. And if the said parties of the first part shall fail to pay said taxes or other assessments as and when said taxes and assessments shall fall due or to effect said insurance or to keep said property free and clear of encumbrances the said Association shall be at liberty to pay said taxes or other assessments or to effect said insurance or to pay off and remove such encumbrances as the case may be and the amount so advanced shall be deemed principal money bearing interest at the rate of six per centum per annum and to be due and payable on the first day of the next succeeding month.
Parties of the first part do hereby assign to party of the third part any and all rents and incomes from said property during the life of this indenture as further security to said debt and upon any default as above set out party of the third part is authorized to collect rents from any and all tenants of the property and they are hereby directed to pay same on demand to party of the third part to be applied on the debt hereby secured provided party of the third part may make such repairs as in its opinion are needed on the property and first deduct the cost thereof together with prevailing collection charges as set up by local Real Estate Board from rents received.
AND IT IS FURTHER UNDERSTOOD AND AGREED That the holder of the indebtedness secured by this instrument may at any time and for any reason whatsoever change any Trustee herein named and substitute therefor another Trustee who shall have the same powers as the Trustee originally name herein provided that a written notice signed by the holder of the indebtedness be filed and recorded in the office of the Register of Deeds for the County in which this instrument is recorded and the Trustee may be changed or substituted as often as the holder of the indebtedness hereby secured may see fit.
BUT IT IS FURTHE UNDERSTOOD AND AGREED That if the said party of the first part shall well and truly do and perform all things herein specified to be done by the said party of the first part and shall fully discharge the trust herein declared then the said land herein conveyed shall be reconveyed to said party of the first part or the title thereto revested in the party of the first part according to law free and discharged from the lien created by this trust.
AND THE SAID PARTY OF THE FIRST PART DOES COVENANT AND AGREE That said party of the first part is the owner in fee-simple of the land therein conveyed and has the right to convey the same that the same is free and clear of all encumbrances whatever that they will forever warrant and defend the title to the same against the lawful claims of all persons whomsoever and that the said party of the first part will execute such further assurances as may be necessary or proper to carry out the true intent and purposes of this trust.
IN TESTIMONY WHEREOF The said party of the first part has duly executed this instrument under seal the day and year above written pursuant to order entered in S. P. # 16288 entitled "In the matter of Edith H. Perry Guardian of William S. Perry Margaret C. Perry and John C. C. Perry."
_______[?]______________(SEAL) __Edith_H._Perry________(SEAL) __Edith_H._Perry________(SEAL) __Guardian________(SEAL)
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STATE OF NORTH CAROLINA GUILFORD COUNTY
I Mary O. Blackburn a Notary Public in and for said County and State do hereby cetify that Edith H. Perry wife of Henry D. Perry husband personally appeared before me this day and acknowledge the due execution of the foregoing Deed of Trust and Note and the said Edith H. Perry being by me privately examined separate and apart from her said husband touching her voluntary execution of the does state that she signed the same freely and voluntarily without fear or compulsion of her said husband or any other person that she does still voluntarily assent thereto. Witness my hand and seal this 2 day of September A.D. 1942
My Commission expires 22 day of July 1944
STATE OF NORTH CAROLINA GUILFORD COUNTY
I Mary O. Blackburn a Notary Public in and for said County and State do hereby certify that Edith H. Perry, Guardian personally appeared before me this day and acknowledged the due execution of the foregoing Deed in Trust and Note. Witness my hand and seal this the 2 day of September 1942
My Commission expires 22 day of July 1944
North Carolina - Guilford County I RUTH POLLOCK ISGRIGG a Notary Public in and for said County and State do hereby certify that HENRY D PERRY personally appeared before me this day and acknowledged the due execution of the foregoing Deed in Trust Witness by hand and seal this the 14th day of September 1942. Ruth Pollock Isgrigg (SEAL) My commission expreis: 2/22/44
NORTH CAROLINA-GUILFORD COUNTY. The foregoing certificates of Mary O. Blackburn + Ruth Pollock Isgrigg notories Public is are adjudged to be correct. Let said instrument and certificates be registered. Witness my hand this 15 day of Sept 1942. G. A. Walker Deputy C.S.C.
SEP 15 1942 Filed for registration on the [bl] day of [bl] 19 [bl] at 2:25 o'clock PM. and duly recorded in the Office of Register of Deed of Guilford County N.C. in Book No. [bl] Page [bl] Etc. M. F. Meatop
Register of Deeds
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JUN 5 - 1947
Satisfied in full this the _______________day of________________________________, 19 ____.
Subscribed before me. SATISFIED IN FULL PAID High Point Perpetual Building & Loan Association High Point, N.C. BY Bessie A. [Kraster?] [Book?] SECRETARY ____________[blank]___________________ ____________[blank]___________________ Trustee Mortgagee.