Harriss-Harriss-Stanton Agreement, 1931

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NORTH CAROLINA, GUILFORD COUNTY.

THIS AGREEMENT, Made this the 23rd day of October, 1931, by and between Florence W. Harriss, widow, J. Welch Harriss, single, and D. A. Stanton and wife, Susan C. Stanton, all of the County and State aforesaid,

WITNESSETH: That Florence W. Harriss owns a life estate in a certain tract of land 26 x 125 feet, lying on the East side of North Main Street in the City of High Point, North Carolina, known as #110 North Main Street, and J. Welch Harriss owns the remainder in fee of said tract, which said tract of land is hereinafter referred to as Tract #1; and,

That J. Welch Harriss owns a tract of land 26 x 95 feet, lying on the West side of North Wrenn Street in the City of High Point, North Carolina, known and numbered as #113 North Wrenn Street, which said tract adjoins and lies immediately in the rear of Tract #1; and is hereinafter referred to as Tract #2; and,

That D. A. Stanton owns a tract of land 25 x 125 feet, lying on the East side of North Main Street in the City of High Point, North Carolina, known as #112 North Main Street, which said tract of land adjoins Tract #1 on the North and is hereinafter referred to as Tract #3; and,

That at the present there are buildings upon each of said tracts fronting upon North Main Street, and the parties hereto are constructing buildings upon the balance of said lands, all of which buildings are to be open and connected one with the other, and the said buildings have been or are to be leased jointly by the parties hereto as one building to Belk-Stevens Company; and,

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That in the construction and operation of said buildings the parties hereto have agreed to jointly install, own and operate certain facilities and conveniences in connection with said buildings; and,

That the parties hereto have agreed upon the terms and conditions of the installation, maintenance, operation and surrender of said facilites and conveniences,

IT IS, THEREFORE, MUTUALLY AGREED as follows:

HEATING PLANT 1. That a central heating plant shall be installed in the building owned by J. Welch Harriss upon Tract #2 at the cost of Forty-five Hundred Sixteen and 73/100 ($4516.73) Dollars, to be paid for as follows: D. A. Stanton $1653.33 Florence Welch Harriss 1653.33 J. Welch Harriss 1210.07 [Total:] $4516.73

2. That the expense of operation and maintenance of said heating plant shall be borne by the parties hereto in proportion to the amount paid by each for the installation thereof, upon the basis provided above.

3. That said heating plant shall be used for the benefit and in connection with the buildings upon each of the three tracts so long as said buildings are leased or used jointly and upon the termination of said joint lease or use of said buildings, the parties hereto, so long as it is mutually agreeable, may continue to use the said central heating plant jointly in connection with the various buildings, but the said J. Welch Harriss shall have the right at any time after the termination of said joint lease or joint use to terminate this agreement as to the heating plant by giving the parties hereto six months notice of such

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termination in writing.

4. That upon the termination of this agreement as to the heating plant, the said heating plant and all equipment incidental thereto, shall, at his option, become the property of J. Welch Harriss, upon the payment by him to the other parties hereto of their pro rata value of said plant at the time of the termination of this agreement.

5. That upon the termination of this agreement, if J. Welch Harriss shall elect to retain the heating plant for his own property, and the parties hereto cannot agree upon its value, then and in that event the question of the value of the heating plant shall be left to arbitration, one arbitrator to be selected by J. Welch Harriss, one by D. A. Stanton, and the two thus chosen to select the third, and the decision of the arbitrators thus chosen shall be binding upon the parties hereto as to the value of said heating plant.

ELEVATOR

1. That an elevator shall be installed in the building owned by Florence W. Harriss upon Tract #1 at a cost of Twenty-eight Hundred Eighty ($2880.00) Dollars, to be borne equally by Florence W. Harriss, D. A. Stanton and J. Welch Harriss.

2. That the expense of operation and maintenance of said elevator shall be borne equally by Florence W. Harriss, D. A. Stanton and J. Welch Harriss.

3. That upon the termination of said joint lease or joint use of said buildings, this agreement as to the elevator shall terminate and the said elevator and all equipment incidental thereto shall, at her option, become the property of Florence W. Harriss, upon the payment by her to D. A. Stanton of one-third and J. Welch Harriss one-third of the value of said elevator at the time of the termination of this agreement.

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4. That upon the termination of this agreement, if Florence W. Harriss shall elect to retain the elevator for her own property and the parties hereto cannot agree upon its value, then and in that event the question of the value of the elevator shall be left to arbitration, one arbitrator to be selected by Florence W. Harriss and one by D. A. Stanton, and the two thus chosen to select the third, and the decision of the arbitrators thus chosen shall be binding upon the parties hereto as to the value of said elevator.

PARTY WALLS

1. That when the buildings upon Tracts #1 and #2 shall cease to be used by the parties hereto jointly, and it shall become necessary to separate same by a wall, then such wall shall be a party wall.

2. That the party who first desires the buildings to be separated shall erect a wall between the buildings of good materials and workmanship, and in conformity with the building laws then in force, but not more than fourteen inches in thickness with its proportion of necessary foundation, one-half of which shall be upon Tract #1 and one-half upon Tract #2.

3. That the cost of said wall shall be borne equally by Florence W. Harriss, the owner of Tract #1, and D. A. Stanton, the owner of Tract #2, and the cost of the same shall be a charge upon each tract.

4. That said wall shall be a fire wall, extending through the roof of said buildings and complying with the insurance regulations then in effect.

5. That if either party shall, at any time thereafter, desire to raise said wall to a greater height than that to which it has been carried, such party shall be at liberty to do so, and

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such additional wall shall be constructed by such party wholly at his or her own expense, unless the other party shall desire to use the whole or any portion of such additional wall, and in such case such other party shall pay his or her pro rata share of the expense of constructing such additional wall.

MISCELLANEOUS FIXTURES AND EQUIPMENT

1. That any and all other fixtures and equipment which may be owned jointly by any of the parties hereto shall, upon the termination of this agreement, become the property of the party owning the building to which the same are attached.

NO CROSS EASEMENTS

1. That the operation and maintenance of said heating plant, elevator and/or other facilities and conveniences in connection with the joint use of said buildings shall be deemed to be made by and used with the express license and consent of the parties hereto, and that no owner of either tract shall acquire any easement or right in any of the other tracts belonging to either of the other parties in connection with the use and maintenance of the said facilities and convenience.

AGREEMENT RUNS WITH LAND

1. That this agreement shall run with the land and bind the parties hereto, their heirs and assigns, but no owner shall be responsible except for his or her acts or default while owner.

IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals, the day and year first above writte. D. A. Stanton (SEAL) Susie C. Stanton (SEAL) Florence W. Harriss (SEAL) J. Welch Harriss (SEAL)

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