Harriss-Stanton-Millis-Sherrod Agreement, 1951

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AGREEMENT

By and between: FLORENCE W. HARRISS, Widow, J. WELCH HARRISS, Single, DAVID L. STANTON and wife, LUCILLE C. STANTON, CLARA COLE MILLIS and husband H. A. MILLIS, JR., VIRGINIA ROGERS SHERROD, Widow and CLARA VIRGINIA SHERROD, a minor, by its guardian WACHOVIA BANK AND TRUST COMPANY

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NORTH CAROLINA GUILFORD COUNTY

AGREEMENT

THIS AGREEMENT Made this the 29th day of October, 1951 by and between FLORENCE W. HARRISS, Widow, party of the first part, J. WELCH HARRISS, Single, party of the second part, DAVID L. STANTON and wife LUCILLE C. STANTON, CLARA COLE MILLIS and her husband H. A. MILLIS, JR., VIRGINIA ROGERS SHERROD, Widow, and CLARA VIRGINIA SHERROD, a minor, by its guardian WACHOVIA BANK AND TRUST COMPANY, parties of the third part;

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 114-16 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 the parties of the third part own a 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 #118-20 North Main Street, which said tract of land adjoins Tract #1 on the North and is hereinafter referred to as Tract #3; and

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That J. Welch Harriss owns a tract of land 38.37 x 95.51 feet on the West side of North Wrenn Street in the City of High Point immediately in the rear of Tract #3, known as No. 115-117 North Wrenn Street, which tract of land adjoins Tract #2 on the North and Tract #3 on the East, and is hereinafter referred to as Tract No. 4; and

That J. Welch Harriss has recently erected a building upon Tract No. 4, and at the present time there are buildings on all four tracts, all of which buildings are now occupied and used as one building by the tenant Belk-Beck Company; and

That in connection with the construction of the building upon Tract #4, J. Welch Harriss has made certain improvements which are for the benefit of all the buildings. The cost of which improvements as allotted against the property of the parties of the third part amounts to $5778.63, of which amount $3401.43 has been paid by the parties of the third part to J. Welch Harriss, the receipt of which is hereby acknowledged; and the balance has been paid or arranged to be paid; and

That the parties hereto have agreed with reference to the walls and improvements recently made upon the property by J. Welch Harriss and in consideration of said improvements the payment therefor and mutual promises one to the other,

IT IS, HEREBY, MUTUALLY AGREED AS FOLLOWS:

REAR WALL OF STANTON BUILDING

1. That in connection with the erection of the building upon Tract #4, J. Welch Harriss has torn out and moved the rear wall of the building upon Tract #3, owned by the parties of the third part, and upon the termination of the lease, or at such time as the buildings upon the four tracts shall cease to be used as one building, and upon demand of the parties of either the second or third part, the rear wall of the

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building upon Tract #3 owned by the parties of the third part shall be restored just as the same was before the erection by J. Welch Harriss of the building on Tract #4, to the end that the building on Tract #3 owned by the parties of the third part shall be separate and apart just as heretofore from the building located on Tract #4, and the cost of such restoration shall be borne as follows:

J. Welch Harriss 12/24 David L. Stanton 6/24 Clara Cole Millis 3/24 Wachovia Bank & Trustt Company, Guardian of Clara Virginia Sherrod 2/24 Virginia Rogers Sherrod 1/24 [Total] 24/24

SPRINKLER SYSTEM

1. That the sprinkler system installed in the buildings on all four tracts, which system originates on North Wrenn Street upon the property of J. Welch Harriss, shall be for the joint use of the owners of the various separate buildings.

2. That in the case the parties hereto shall terminate the lease and cease to use the various buildings as one building and the same are divided into separate units, J. Welch Harriss will allow the parties of the third part to connect with said sprinkler system and use the same just as theretofore, which right shall terminate and cease upon destruction of the Harriss Building or at any time that J. Welch Harriss may desire to make any major changes in his building which will be inconvenienced by the continued joint use of the sprinkler system.

NO CROSS EASEMENTS

1. That the joint use of said buildings and improvements thereon as hereinbefore set out 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 hereto.

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AGREEMENT RUNS WITH LAND

1. That this agreement shall run with the land and bind the parties hereto, their heirs and assigns, that 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 written.

Florence W. Harriss (SEAL) J. Welch Harriss (SEAL) David L. Stanton (SEAL) Lucille C. Stanton (SEAL) Clara Cole Millis (SEAL) H. A. Millis Jr. (SEAL) Virginia Rogers Sherrod (SEAL) CLARA VIRGINIA SHERROD, a minor By J P Bolt Vice-President WACHOVIA BANK AND TRUST COMPANY GUARDIAN ATTEST: Howard Lyon Asst. Secretary

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