Mortgage by William R & Clara P ARBUCKLE to The National Bank of Perryville (1950), Cecil Co., MD Contributed for use in USGenWeb Archives by Doug Arbuckle ************************************************************************ USGENWEB ARCHIVES NOTICE: These electronic pages may NOT be reproduced In any format for profit or presentation by any other organization or persons. Persons or organizations desiring to use this material, must obtain the written consent of the contributor, or the legal representative of the submitter, and contact the listed USGenWeb archivist with proof of this consent. The submitter has given permission to the USGenWeb Archives to store the file permanently for free access. http://www.usgwarchives.net *********************************************************************** Cecil County Land Record Book, Liber RRC, Number 55, Folio 381 THIS MORTGAGE, Made this 7th day of December, in the year nineteen hundred and fifty, by and between William R Arbuckle and Clara P Arbuckle, his wife, Mortgagors of the County of Cecil, in the State of Maryland, of the first part, and THE NATIONAL BANK OF PERRYVILLE, a national banking corporation having its place of business in the Town of Perryville, Cecil County, Maryland, WHEREAS, The said Mortgagors are justly indebted unto the said Mortgagee in the full and just sum of Twenty-five Hundred ($2500.00) Dollars, upon their certain promissory note, made payable on demand, and bearing even date herewith, which said sum they hereby covenant and agree to repay as follows: To pay the sum of Twenty-five ($25.00) Dollars monthly on account of principal on the day of each month hereafter, and to pay interest at the rate of Four and a half (4 1/2%) Per Cent per annum, quarterly accounting from this date, said interest to abate proportionately after each quarterly interval; with the right and privilege of the said Mortgagors to make additional payments on principal whenever any such monthly installment shall become due; and said monthly payments to continue until the whole of said principal and the interest to accrue thereon is fully paid and satisfied; and on the default of the payment of any such monthly installment, or the interest to accrue thereon, the whole balance of said mortgage debt shall immediately become due and payable at the option of the mortgagee; and to secure the payment of which said note, and all renewals thereof, in whole or in part, until the said indebtedness is fully paid, these presents are executed. Now this Mortgage Witnesseth, that in consideration of the premises and of the sum of One Dollar, the said William R Arbuckle and Clara P Arbuckle, his wife, do grant and convey unto The National Bank of Perryville, its successors and assigns, in fee simple, all that lot or parcel of ground situate in the Seventh Election District of Cecil County aforesaid, in or near the Town of Perryville, and bounding on the North side of Charles Street, and being Lot No 7b, of Section E, as shown on a plat of lots of Section E, made by J B DeLancey, Surveyor, on October 1, 1946, and more particularly described as follows: BEGINNING for the same at a point on the North side of said Charles Street, said point of beginning being North 81 degrees West, 500 fee from the corner formed by the intersection of the North side of Charles Street with the West side of Aiken Avenue, said beginning point being also the Southeast corner of the lot or parcel of land now belonging to Robert L Baldwin, Jr and wife, which was conveyed to them by the Grantors herein, by their deed dated March 31, 1949, and recorded among the Land Record Books of Cecil County aforesaid in Liber RRC No 37, Folio 226, and running thence by and with the East side of said Baldwin’s lot North 12 degrees East, 150 feet; thence South 81 degrees East, 50 feet to the Northwest corner of Lot No 6b; thence by and with the West side of same South 12 degrees West, 150 feet to the North side of said Charles Street; thence by and with the same North 81 degrees West, 50 feet to the place of Beginning. Containing 7500 square feet of land, more or less. IT BEING the same lot or parcel of land which was conveyed unto the Mortgagors herein by deed of Arthur W Hornbarger et ux, dated October 7, 1949, and recorded among the Land Record Books of Cecil County aforesaid in Liber RRC No 42, Folio 182 Together with the buildings and improvements thereupon, and the rights, alleys, ways, waters, privileges, appurtenances and advantages thereto belonging or in anywise appertaining. To Have and To Hold the aforesaid parcel of ground and premises unto and to the proper use and benefit of The National Bank of Perryville, its successors and assigns, forever. Provided, that if the said William R Arbuckle and Clara P Arbuckle, his wife, their heirs, executors, administrators or assigns, shall well and truly pay, or cause to be paid, the aforesaid principal sum of Twenty-five Hundred ($2500.00) dollars, and all the installments of interest theron, when and as each of them shall respectively be due and payable as aforesaid, and shall perform each and all of the covenants herein on their part to be performed, then this Mortgage shall be void. And the said Mortgagors hereby assent to the passage of a decree for the sale of the property hereby mortgaged, such sale to take place only after a default in any of the covenants or conditions of this mortgage as herein provided; and the said Mortgagors hereby also authorize the said Mortgagee, its successors or assigns, or J Albert Roney, Jr, its duly authorized Attorney or Agent of the said Mortgagee, its successors or assigns, after any default in the covenants or conditions of this mortgage, to sell the hereby property. Any such sale, whether under the above assent to a decree or under the above power of sale, shall be under the provisions of Article 66 of the Public General Laws of Maryland, or under any other General or Local Law of the State of Maryland relating to mortgages, or any supplement, amendment, or addition thereto. And upon any such sale of said property, the proceeds shall be applied as follows: (1) to repayment of the all expenses incident to said sale, including a fee of Fifty ($50.00) Dollars and a commission to the party making the sale of said property equal to the commission allowed Trustees for making sale of property by virtue of a decree of a Court having equity jurisdiction in the State of Maryland; (2) to the payment of all claims of the said Mortgagee, its successors, executors, administrators or assigns hereunder whether the same shall have matured or not; (3) and the surplus (if any there be), to the said Mortgagors, their heirs, personal representatives or assigns, or to whoever may be entitled to the same. And the said Mortgagors for themselves, their heirs, personal representatives and assigns, do hereby covenant and agree that immediately upon the first insertion of the advertisement or notice of sale as aforesaid under the powers hereby granted, there shall be and become due by them to the party inserting said advertisement or notice, all expenses incident to said advertisement or notice, all Court costs and all expenses incident to the foreclosure proceedings under this Mortgage and a commission on the total amount of the Mortgage indebtness, principal and interest, equal to one-half the percentage allowed as commissions to trustees making sale under orders or decrees, of a Court having equity jurisdiction in the State of Maryland, which said expenses, costs and commission the said Mortgagors for themselves, their heirs, personal representatives and assigns, do hereby covenant to pay, and the said Mortgagee, its successors or assigns, or J Albert Roney, Jr, its said Attorney, shall not be required to receive the principal and interest only, of said Mortgage debt in satisfaction thereof, unless the same be accompanied by a tender of the said expenses, costs, and commission, but said sale may be proceeded with unless, prior to the day appointed therefore, legal tender be made of said principal, costs, expenses and commission. And it is agreed that, until default be made in the premises, the said parties of the first part, their heirs, executors, administrators, or assigns, shall possess the aforesaid property upon paying, in the meantime, all taxes and assessments, public dues and charges levied or assessed, or to be levied or assessed, on said mortgaged property, which taxes, mortgage debt and interest, public dues, charges and assessments the said parties of the first part covenant to pay when legally payable. And the said parties of the first part further covenant to insure, and pending the existence of this Mortgage to keep insured, the improvements on the thereby mortgaged property to the amount of at least Twenty-five Hundred ($2500.00) dollars, and to cause the policy to be effected thereon to be so framed or endorsed as, in case of fire, to inure to the benefit of the said Mortgagee, its successors, executors, administrators or assigns, to the extent of their lien or claim hereunder. WITNESS the hands and seals of the said Mortgagors. William R Arbuckle Clara P Arbuckle Test: Naomi R Montgomery State of Maryland, County of Cecil, ss: I Hereby Certify, that on this 7th day of December, in the year one thousand nine hundred and fifty, before me, the subscriber, a Notary Public of the State of Maryland, in and for the County of Cecil aforesaid, personally appeared WILLIAM R ARBUCKLE and CLARA P ARBUCKLE, his wife, the Mortgagors named in the foregoing Mortgage, and they acknowledged the foregoing Mortgage to be their act. At the same time also appeared DR JAMES F MAGRAW, President of The National Bank of Perryville and made oath in due form of law that the consideration set forth in said Mortgage, is true and bona fide as therein set forth. WITNESS my hand and Notarial Seal. Naomi R Montgomery, Notary Public My Commission expires: May 7, 1951 Recorded Dec 11, 1950 and examined per Ralph R Crothers, Clerk Mailed to: National Bank of Perryville, Perryville, MD, Dec 18, 1950. July 1, 1953 - Original Mortgage brought into the office with the following release thereon to wit: For value received, The National Bank of Perryville, Perryville, Maryland releases the herewith in and foregoing mortgage. Catherine M Arbuckle Witness: Signature of the President, attested by the Cashier and its Corporate Seal affixed this 30th day of June, 1953 J F Magraw, President James F Magraw, Jr, Cashier Release recorded July 1, 1953 and examined, Per Ralph R Crothers, Clerk ------------------------- See the following Web site for more info on William R Arbuckle and relatives http://homepages.rootsweb.com/~pda/wc_toc.htm