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J. W. Coltrane High Point Box 1767
[stamped: VERIFIED]
options
W. L. SHOFFNER ATTORNEY-AT-LAW SECURITY BANK BUILDING BURLINGTON, N. C.
1.25 Pd. .25 Pd.
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[handwritten: NO]
NORTH CAROLINA ALAMANCE COUNTY
THIS AGREEMENT made and entered into this 25th day of November, 1952, by and between C. L. Shoffner and John A. Bailey, of Alamance County, North Carolina, parties of the first part, and J. W. Coltrane and James R. Graham, of Guilford County, North Carolina, parties of the second part.
W I T N E S S E TH That whereas, the parties of the second part are purchasing from Ethel G. Harris, Widow, Edward Guthrie, Widower, C. C. Carter and wife, Edna Carter, Sarah L. Harris, Single, and Erwin G. Harris and wife, Zuma H. Harris and Harry Eisenberg and wife, Rebecca Eisenberg, certain properties which are located on Church Street in the City of Burlington, North Carolina, as will be more fully described in certain option contracts made in favor of J. W. Coltrane, and whereas, C. L. Shoffner, one of the parties of the first part is a real estate agent and is handling the sales of these properties to J. W. Coltrane and James R. Graham and whereas the said John A. Bailey has assisted the said C. L. Shoffner in the sale of these properties and is to receive the house which is located on the Eisenberg tract, and whereas, both of the said parties of the first part have agreed to remove the residences which are located on the properties being purchased by the parties of the second part and it is now the desire of all of the said parties to reduce their agreements into writing.
The parties of the second part are to complete the purchasing of the properties herein referred to on or about January 15, 1953 or within then days thereafter [sic]. The parties of the first part hereby agree that they will within thirty (30) days from the date said property is purchased by the parties of the second part,
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remove the residences from said tracts of land, together with all debris, thereby making said property available to the parties of the second part for their construction project. In the event, said residences are not removed at the end of thirty days, the parties of the first part shall pay to the parties of the second part the sum of six percent (6%) on the investment of FORTY EIGHT THOUSAND FIVE HUNDRED DOLLARS AND NO/100 ($48,500.00), until said property is made available and cleared for construction purposes. The barn which is located in the rear of the Harris tract shall not be dismantled at this time and the same shall be left standing for the use and benefit of the parties of the second part until they have completed the building to be located on the above described properities [sic], at which time said building shall then belong to Ethel G. Harris and shall be moved by her at her expense within thirty days (30) days from the time she is given notice by the parties of the second part, that they have no further use for said barn.
IN WITNESS WHEREOF, the said parties of the first part have hereunto set their hands and seals the day herein first above written.
C. L. Shoffner (SEAL) John A. Bailey (SEAL)
Sworn to and subscribed before me this 25 day of November, 1952. La Verne May Notary Public
7-1-54 My commission expires
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NORTH CAROLINA, ALAMANCE COUNTY The foregoing certificate of La Verne May A NP of Alamance County is adjudged to be correct. Let this instrument with the certificate be registered. This 26 day of Nov, 1952
N. Poalbury C.S.C.
Filed for Registration at 11:15 o'clock A.M. Nov 26 1952 and registered in the office of the Register of Deeds for Alamance County in Book No. 211 Deeds page 601 this the 2 day of Dec 1952
Pauline McCraw Deputy Reg. of Deeds.