3

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