3

TO HAVE AND TO HOLD The aforesaid tract or lot of land, with all the rights, privileges and appurtenances
thereunto belonging, unto said party of the second part, trustee as aforesaid, and 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 to pay the interest on said note as the same may here-
after become due, or the principal thereof at the maturity of said note, or any amount expended for insurance or
taxes, or other assessments, or to remove any incumbrances, as hereinafter provided; or shall fail or neglect to pay
any dues or fines on the stock herein referred to as the same may hereafter become due, or shall cease to be a
member of said Association, or shall fail or neglect to perform any duties imposed upon them by the by-laws,
rules or regulations of said Association; then, upon default as to any of the foregoing things for a period of three
months, it shall be lawful for, and the duty of the said party of the second part, trustee as aforesaid, on applica-
tion of said Association, its assigns or other person who may be entitled to the moneys due on said note, to sell
said land at public auction to the highest bidder for cash, after first advertising the same for a period of thirty
days, by posting a notice thereof at the courthouse door, in Greensboro, and at three other public places in Guil-
ford County, and also by publishing said notice at least once a week for four consecutive weeks in some newspaper
published in said County, therein appointing a day and place of sale, and upon such sale to execute to the purchaser
thereof a sufficient deed to said land. And the said party of the second part, first retaining out of the proceeds
of such sale a five per centum commission, 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
parties 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, or other assessments within the time prescribed by law, and shall keep the buildings on said premises
insured in some reliable insurance company having an office in the said County of Guilford, in the sum of
Fifteen Hundred Dollars,
which said policy, or policies, shall be payable to said Association, as its interest may appear, and be deposited
with said 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 con-
veyed free and clear of any and all incumbrances 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, or to effect
said insurance, or shall fail to keep said property free and clear of said incumbrances, 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 said
incumbrances, as the case may be, and the amount so expended shall be deemed principal money, bearing interest
at the rate of six per centum per annum, and be due and payable when the next ensuing installment of interest
becomes due.

BUT IT IS FURTHER UNDERSTOOD AND AGREED, That if the said parties of the first part shall well and truly do
and perform all things herein specified to be done by them, and shall fully discharge the trust herein declared,
then the said land herein conveyed shall be reconveyed to said parties of the first part, or the title thereto revested
in them according to law, free and discharged from the lien created by this trust.

AND THE SAID PARTIES OF THE FIRST PART DO COVENANT AND AGREE: That they are the owners in fee-simple
of the land herein conveyed, and have the right to convey the same; that the same is free and clear of all incum-
brances whatever, that they will forever warrant and defend the title to the same against the lawful claims of all per-
sons whomsoever; and that they 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 parties of the first part have hereunto set their hands and seals the day
and year first above written.

A. H. Idol (SEAL)
Sarah L Idol (SEAL)