L. D. and Cora Durrett
Deed of Trust, 1946
Source: Original Copy
Transcribed by Jan Barnes
© 2009
Tennessee Deed of Trust
L. D. Durrett and Cora Durrett
to
Geo. Pansiera, of Cincinnati, O.
Trustee for
The Union Central Life Insurance Company
Cincinnati, Ohio
Office of Register
Sumner County, Tennessee.
I hereby certify that the within Deed of Trust was filed in this office on
the 2 day of May 1946 at 11:05 o'clock, A. M. and was duly indexed and recorded
on May 2, 1946 in Book 86 of Mortgages, Page 282.
J. L. Freeland, Register of Deeds
This deed of Trust made this 13th day of March 1946, by L. D. Durrett
and Cora Durrett, husband and wife of the County of Sumner and State of Tennessee
parties of the first part; The Union Central Life Insurance Company, a
corporation organized under the laws of Ohio, with its principal office at
Cincinnati, party of the second part; and Geo. Pansiera, party of the third
part:
Witnesseth, That the said part of the first part, in consideration of One
($1.00) Dollar, the receipt whereof is hereby acknowledged, does hereby sell
and convey to the said party of the third part, successors, heirs or assigns,
the following described real estate situate in the County of Sumner and State
of Tennessee, to-wit: Beginning at the SE corner at a planted rock
in James M. Link's line (west boundary) and running N. 89 deg. W. continuing
same course in all 108-4/5 poles, continuing same course in all 123-4/5 poles
to a stake one pole east of the SW corner of the Hester land; thence parallel
with and one pole east of said Hester and N. A. Walker and also S. H. Rodgers
land, N. 1-1/2 deg. E. 30 poles to a stake one pole E of a chestnut stump,
formerly in Legg's east boundary line and SW corner of Lot No. 1 of Hester
land; thence N. 34-1/4 deg. West passing SW corner to Walker land at 10 poles
and NW corner of Walker land and SW corner of Hodges land at 36 poles, continuing
in all 55 poles to a stake one pole East of a post oak, the original corner
to Legg and Link land, and the Northwest corner of the H. S. Rodgers land;
thence S. 89 deg. E. 56-1/2 poles to a rock, the Rodgers SE corner in T.
W. Briley's line; thence with said Rodgers East boundary line N. 31 poles
to a rock, the NW corner to the land bought from S. B. Link, also Sanford
Link and T. W. Briley's corner in Rodgers line, formerly Jeff Rodgers line;
thence with the S. boundary of Sanford Link N. 88 deg. E 99-5/8 poles to
a rock, said Link's SE corner; thence N 3 deg. E. 35 poles to a planted rock,
Mrs. P. Link's corner; thence S. 86 deg. W. with Rodgers line 145 poles to
the beginning, and being the same real estate conveyed to L. D. Durrett by
deed from the Union Central Life Insurance Company, dated March 13, 1946,
and recorded in Book 131, Page 398, of the Records of Sumner County,
Tennessee.
This Deed of Trust is given to secure the balance of purchase money for the above described real estate.
To Have and to Hold the same, with all appurtenances, to the said party of the third part, his heirs, successors and assigns, forever, and the parties of the first part covenant that they are seized and possessed of said real estate, that they have the right to convey the same, and that it is free, clear and unencumbered, and they do warrant the title to the same against the claims of all persons whomsoever.
The said Cora Durrett binds her separate estate for the satisfaction of the covenants herein contained.
This Conveyance is made in trust to secure the payment of a debt evidenced by certain promissory note, signed by L. D. Durrett and Cora Durrett parties of the first part, and described as follows: One promissory note payable in installments of principal and interest as follows: $123.44 on the 1st day of March, 1947, and $123.44 on the same day of each succeeding year to and including March 1, 1955; and the balance of principal with interest on March 1, 1956.
Each installment shall be applied first in payment of interest accrued on the unpaid balance of the principal and then on the principal sum.
The right is reserved to pay any installment at any time prior to maturity provided all prior installments have been paid, by payment of its present worth as ascertained by discounting it at the rate of 4 per cent interest, compounded annually, but such prepayments of installments shall not relieve from continuing consecutive annual payments in amounts as herein provided.
Drawn at Gallatin, Tennessee being executed concurrently herewith payable to the order of The Union Central Life Insurance Company whose residence and post office address is Cincinnati, Ohio, at its office in Cincinnati, Ohio, on the due dates as herein stated, or in partial payments prior to maturity in accordance with the stipulations therein, said note or notes representing the principal sum loaned $1, 331.05 with interest at 4 per centum per annum from March 1, 1946 maturity, providing for interest after maturity at the rate of six per centum per annum. This conveyance shall secure any and all renewals or extensions of the whole or any part of said indebtedness however evidenced, with interest at such lawful rate as may be agreed upon and any such renewals or extensions or any change in the terms or rate of interest shall not impair in any manner the validity of, or priority of this deed of trust or release the part of the first part from personal liability for the debt hereby secured.
The right is hereby given by the party of the first part and reserved
by the party of the second part, successors or assigns, to make partial release
or releases of the security hereunder, agreeable to the party of the second
part, without notice to or the consent, approval, or agreement of other parties
in interest, which partial release or releases shall not impair in any manner
the validity of, or priority of this deed of trust on the security
remaining.
The parties of the first part hereby covenant and agree with the party of
the second part, its successors and assigns, as follows:
FIRST, To pay the note secured hereby according to its or their tenor and
effect and to keep and perform all covenants, conditions and stipulations
herein.
SECOND, To pay all taxes, assessments, liens and charges of every character
which are now, or which hereafter may be come liens on said real estate when
due, also all taxes assessed in Tennessee against the parties of the second
or third part, or their heirs, successors or assigns on this dee of trust,
or the notes or debt secured hereby, before the same become delinquent, provided
the amount of such latter taxes, together with the interest on the debt secured
hereby, does not exceed the maximum permitted by law to be paid, but if it
does, the excess is to be paid by the party of the second part; to deliver
to the party of the second part receipts showing payment thereof, and if
not paid, the party of the second part may pay such taxes, liens or assessments,
and this deed of trust shall stand as security for the amount so paid with
interest.
(Items three through thirteen are legal responsibilities of all parties of this deed of trust and are omitted here.)
FOURTEENTH, The said Cora Durrett hereby waives her right of dower in said premises in the event of the death of her said husband while this deed of trust is in force, and the parties of the first part hereby agree that any sale of said realty under this deed of trust shall be free from all rights of redemption, homestead, and dower of themselves or either of them.
FIFTEENTH, When the indebtedness secured hereby has been paid in full and the foregoing covenants and conditions have been kept and performed, this deed of trust shall be void and shall be released by the party of the second part at the cost and expense of the party of the first part, (and in case of failure of the party of the second part to release this deed of trust, all claim for statutory penalty or damages is hereby waived); otherwise this deed of trust shall remain in full force and effect.
In Testimony Whereof, The said parties of the first part have hereunto
set their hands on the day and year aforesaid.
L.
D. Durrett
Cora
Durrett
State of Tennessee
County of Sumner
Personally appeared before me, Polly Rhodes, a Notary Public in and for the
County aforesaid, duly commissioned and qualified, the within named L. D.
Durrett and Cora Durrett, his wife, the bargainors with whom I am personally
acquainted, and who acknowledged that they executed the within instrument
for the purposes therein contained. And Cora Durrett wife of the said
L. D. Durrett, having personally appeared before me privately and apart from
her said husband, the said L. D. Durrett acknowledged the execution of the
said instrument to have been done by her freely, voluntarily and understandingly,
without compulsion or constraint from her said husband, and for the purposes
therein expressed.
Witnessed my hand and official seal, in Gallatin, Tennessee, this 2nd day
of May 1946.
Poly
Rhodes
Notary
Public in and for aforesaid County.
My Commission expires on the 5th day of April 1950.