Lenoir County NcArchives Deed.....Trust Company, Raleigh Banking & - Daly, James R. & Emma 1924 ************************************************ Copyright. All rights reserved. http://www.usgwarchives.net/copyright.htm http://www.usgwarchives.net/nc/ncfiles.htm ************************************************ File contributed for use in USGenWeb Archives by: Hazel Yarbrough hhyarbrough@embarqmail.com October 18, 2010, 8:28 pm Written: 1924 From the James R. Daly Collection in the possession of Hazel Ruth Hill Yarbrough, Lenoir County Transcribed by Hazel Ruth Hill Yarbrough from the original. 1924 Mortgage Deed – James R. Daly and wife, Emma S. Daly to Raleigh Banking and Trust Co. NORTH CAROLINA, Lenoir County THIS INDENTURE, Made and executed this the 23rd day of February, in the year of our Lord one thousand nine hundred and twenty-four, by and between James R. Daly and wife, Emma S. Daly parties of the first part, and The Raleigh Banking & Trust Co., a North Carolina Corporation, Trustee of Raleigh, Wake County, North Carolina, party of the second part, and Metropolitan Life Insurance Company, New York City, New York, party of the third part: WITNESSETH: That, whereas, the said James R. Daly and wife, Emma S. Daly parties of the first part, are justly indebted to Metropolitan Life Insurance Company, the said party of the third part, in the sum of ONE THOUSAND, FIVE HUNDRED DOLLARS ($1500.00), as evidenced by their one bond, under seal of even date herewith, due and payable as follows: ONE THOUSAND, FIVE HUNDREAD DOLLARS ($1500.00) due and payable on February 23rd, 1934. The parties of the first part reserve the privilege of paying all or any part of said principal sum on any interest paying date in multiples of $100.00 and bearing interest from date at the rate of Six per cent per annum, payable annually; and whereas said parties of the first part desire to secure the payment of said bond at maturity, according to its face, tenor and effect, and with all interest due thereon: NOW THEREFORE, for and in consideration of the premises, and for the purposes aforesaid, and for the further consideration of five dollars to the said parties of the first part paid by said trustee, the receipt whereof is hereby expressly admitted, the said James R. Daly and wife, Emma S. Daly, parties of the first part, have granted, bargained, sold, released and conveyed, and by these presents do grant, bargain, sell, release and convey unto the said Raleigh Banking &Trust Company, Trustee, party of the second part, its successors and assigns, all that certain tract or parcel of land , situate in Lenoir County, Trent Township, State of North Carolina, and described as follows: A certain tract or parcel of land lying and being in Trent Township, Lenoir County, State of North Carolina, adjoining the lands of L.B. Grady on the west, bounded on the South by the Seven Springs and Kinston Road, on the East by the lands of Doy Jones and E. Grady and Son, on the North by the Hardie’s Bridge and Seven Springs Road, and more definitely described as follows: Beginning at a stake on the South side of the Hardie’s Bridge and Seven Springs Road, L.B. Grady’s Northeast corner, and runs with Grady’s line South 19 ¾ degrees West 273 poles to a stake in the Seven Springs and Kinston Road; thence with the road East 31 2/3 poles to a stake on the road; thence with said road South 83 degrees East 800 feet to a stake on said road, corner of Doy Jones; thence with Jones’ line North 20 degrees East 1552 feet to a canal; thence with the canal North 5 degrees East 221 feet; thence in the same direction with the canal North 6 degrees East 64 poles to a stake on the canal, Daly and E. Grady and Son’s corner; thence with the line of E. Grady and Son North 19 ¾ East 78 poles to a stake in the Hardie’s Bridge and Seven Springs Road; thence with the road North 76 ½ degrees West 68 2/3 poles to a stake in the beginning, containing One Hundred and Twenty-One and Forty-Two Hundredths (121.42) acres, more or less. The same being the 90acre tract conveyed to James R. Daly and wife Emma G. Daly as appears of record in Book 55 at page 644 of the Lenoir County Registry, and the 31.42 acre tract conveyed to Emma G. Daly as appears of record in Book 68 at page 513 of the Lenoir County Registry. TO HAVE AND TO HOLD the said above described tract or parcel of land to the said Raleigh Banking & Trust Company, Trustee, party of the second part, its successors and assigns forever. And the said James R. Daly and wife, Emma S. Daly parties of the first part, do hereby covenant to and with the said Raleigh Banking & Trust Company, Trustee, party of the second part, that the said parties of the first part are seized in fee simple of the above described premises and have a right to convey the same; that the same are free from encumbrance and that they will forever warrant and defend the title to the same against the lawful claims and demands of all persons whomsoever. 1. AND IT IS HEREBY COVENANTED, by and between said parties, that the said James R. Daly and wife, Emma S. Daly, their heirs, executors, administrators or assigns, will pay said Bond with interest thereon as the same becomes due and payable; and will pay all taxes and assessments on said lands and premiums of insurance against said premises before the same become delinquent, and will keep all fences, buildings and other improvements now on said premises, and hereafter put thereon, in good conditions and repair, and will do no act by which the value of the said premises may be impaired. 2. AND IT IS FURTHER COVENANTED That the said James R. Daly and wife, Emma S. Daly, their heirs, executors, administrators or assigns, will insure the buildings on said premises against loss by fire in the sum of ONE THOUSAND DOLLARS ($1000.00) in some responsible insurance company doing business in North Carolina, approved by the said trustee or its successors and assigns, with loss, if any, payable to the said trustee or its successors and assigns, as its interest may appear, and deliver the policy of Insurance to said trustee; and if any more insurance is taken on the property, that all policies for same shall be delivered to said trustee and loss made payable to said trustee, or its successors and assigns, the same as in the required policy; and in case the insurable improvements on said real estate are destroyed or damaged by fire, the said trustee, or its successors and assigns, shall have the right to apply the moneys collected from the insurance in payment of the debt secured hereby, whether due or not. 3. AND IT IS FURTHER COVENANTED That if the said James R. Daly and wife, Emma S. Daly, their heirs, executors, administrators or assigns, shall fail to pay said taxes and assessments, or shall fail to procure and keep up said insurances, as herein agreed, then said trustee, or its successors and assigns, may pay said taxes and assessments and effect said insurance and charge the sum so paid against said James R. Daly and wife, Emma S. Daly, their heirs, executors, administrators or assigns, and said premises; and the money so advanced for the payment of such taxes, assessments, insurance or any charge of whatsoever nature on the property hereby conveyed shall be added to the debt hereby secured, and the repayment thereof, with interest at the rate of six per cent per annum, shall be secured by this Deed of Trust, and shall be forthwith due and payable; and the said trustee, or its successors and assigns, shall be subrogated to all the rights of the person to whom such payments have been made. 4. And if at any time any law, either Federal or State, shall be passed imposing or authorizing the imposition of any specific tax upon mortgages or upon bonds secured by mortgages, or upon the principal or interest money secured by bonds or mortgages or by virtue of which the owner of the time being of the land above described shall be authorized to pay any such tax upon said bond or mortgage, or either of them, or the principal or interest thereby secured and deduct the amount of such tax paid from any money, principal or interest, secured by said bond or mortgage, or by virtue of which any tax or assessment upon the mortgaged premises shall be chargeable against the owner of said bond or mortgage, or with or them, or upon the rendering by any Court of competent jurisdiction of a decision that the undertaking by the parties of the first part as herein provided to pay any tax or taxes or any other charges is illegal and inoperative, then and in any such case the said principal sum herein secured, with all the arrears of interest thereon, shall , at the option of the said party of the third part, his or its heirs, successors and assigns, at any time after the enactment of such law, or at any time after the rendering of such a decision, be and become immediately payable, anything in said bond or mortgage hereinbefore contained to the contrary notwithstanding. 5. And the said parties of the first and second parts do hereby covenant and agree to and with the said party of the third part, that in case trustee shall become incapable of acting, renounce its trust, or for other reason become unacceptable to said party of the third part, then, upon notice to the parties of the first and second parts, if living, the party of the third part may appoint in writing a trustee to take the place of the party of the second part, and upon probate and registration of the same the trustee thus appointed shall succeed to all the rights and powers of the part of the second part. 6. BUT THIS COVENANT IS MADE UPON THIS SPECIAL TRUST, That if the said parties of the first part shall well and truly pay off and discharge the said bond above mentioned, at maturity, with the interest due thereon, then this conveyance shall become null and void, and may be cancelled upon the registration books according to law. But if default shall be made in the payment of said bond, or the interest thereon, or any part of either principal or interest, or any taxes or insurance premiums or assessments paid as above provided, them and in that event said bond shall at once become due and payable, whatever may be the date of maturity expressed therein, and it shall then become lawful for and the duty of said party of the second part, whenever requested by said party of the third part, or the holder of said bonds to advertise the land and property above described according to law, and to sell the same for cash (or upon such terms as shall seem proper to said trustee), at Courthouse door in Lenoir County, N.C. and to make a good and sufficient conveyance to the purchaser by deed in fee simple. The said party of the third part, or the holder of any one of the bonds secured hereby, may bid and become the purchaser at any sale under this conveyance. The proceeds of any sale shall be applied as follows: First, to pay the expenses of making, maintaining and executing this trust and protecting the property, and a commission of five per centum upon the amount of the sale to the party of the second part for its services. Second, to pay the debts and obligations herein secured or intended so to be. Third, to pay the surplus, if any, to the person or persons legally entitled thereto. Until default shall be made in the payment of any of the sums herein secured, or intended so to be, or in the performance of the covenants and agreements herein contained, the said parties of the first part shall retain possession, use, and enjoyment of said premises and property. The necessity of the said trustee herein named, or any successor in trust, making oath or giving bond is expressly waived. IN WITNESS WHEREOF, the said James R. Daly and wife, Emma S. Daly, parties of the first part have hereunto set their hands and seal the day and year first above written. In the presence of: Jas. R. Daly (Seal) Emma S. Daly (Seal) NORTH CAROLINA, (Lenoir) Wayne County I, W. R. Gibbs, Notary Public in and for said County and State, do certify that James R. Daly and Emma S. Daly, his wife, personally appeared before me this day and acknowledged the due execution of the foregoing conveyance, and that the said Emma S Daly being by me privately examined separate and apart from her husband, touching her voluntary execution of the same, doth state that she signed and executed the same freely and voluntarily, without fear or compulsion of her husband or any other person, and that she doth still voluntarily assent thereto. Witness my hand and notarial seal, this the 29th day of Feb. 1924. My commission expires Jan 11, 1926 W.R. Gibbs Notary Public NORTH CAROLINA, Lenoir County The foregoing certificate of W.R. Gibbs, a Notary Public of N.C. is adjudged to be in due form, correct, and according to law. Therefore, let the instrument, with this certificate be registered. Witness my hand, this 29 day of Feby, 1914. J.T. Heath, Clerk Superior Court FIRST DEED OF TRUST James R. Daly and wife, Emma S. Daly To Raleigh Banking & Trust Company Loan # X23186 Land in Lenoir County Deed of Trust Dated February 23, 1924 I Hereby Certify, That I have this 1 day of Mar, 1914 , received in office at 10 AM and have duly recorded the within Deed of Trust in Book 72, page 272 on 1 day of Mch, 19224, Lenoir County, N.C. C W Pridgen Register of Deeds of Lenoir County, NC NORTH CAROLINA RELEASE The indebtedness secured by the within deed of trust having been paid in full and satisfied, the Register of Deeds of Lenoir County, North Carolina is hereby authorized and directed to cancel the same upon the records. IN WITNESS WHEREOF Metropolitan Life Insurance Company has caused these presents to be executed in its corporate name by W.F. Dobbins, its Third Vice- President and its corporate seal to be affixed hereto, attested by E. Powelson, its Assistant Secretary, this 23rd day of January, 1932. METROPOLITAN LIFE INSURANCE COMPANY By W.F. Dobbins, Third Vice President Attest: E. Powelson. Assistant Secretary STATE OF NEW YORK BOROUGH OF MANHATTEN CITY AND COUNTY OF NEW YORK On this 23rd day of January, 1932, before me, a Notary Public in and for said County and State, personally appeared W.F. Dobbins and E. Powelson, to me personally known, who being by me duly sworn, did say that they are, respectively the Third Vice President and Assistant Secretary of Metropolitan Life Insurance Company, a corporation organized under the laws of the State of New York, that the seal affixed to the within instrument is the corporate seal of said corporation and that said instrument was signed and sealed in behalf of said corporation by authority of its Board of Directors and said W.F. Dobbins and E. Powelson, as such Third Vice President and Assistant Secretary of said corporation, acknowledged the execution of said instrument to be the voluntary act and deed of said corporation by them voluntarily executed. Witness my hand and Notarial Seal. A. Doherty Notary Public Certified New York County No. 161 Certified N.Y. County Register No. 9D133 My Commission Expires March 30, 1933 Note: Stamped over the signatures of Jas. R. Daly and Emma S. Daly, and on the cover of the Deed of Trust - PAID IN FULL JAN. 14, 1932 METROPOLITAN LIFE INSURANCE CO. File at: http://files.usgwarchives.net/nc/lenoir/deeds/daly584dd.txt This file has been created by a form at http://www.poppet.org/ncfiles/ File size: 16.0 Kb