Deed from |
[Page 202] FT Simmons & Wife To} Deed of Trust B B Watkins Recd. March 19th 1887 at 2 ¾ O'clock PM J T Boon R. D. C. Deed = To The Dyersburg Building And Savings Association, For the consideration of one dollar cash in hand paid, and the other considerations hereinafter mentioned We FT Simmons and Mary E. Simmons his wife do hereby bargain, sell, transfer and convey unto BB Watkins, Secretary of the Dyersburg Building and Savings Association (a Corporation incorporated under the laws of Tennessee and doing business at Dyersburg, Tennessee) (The following lot of land lying, being, and situated in the Town of Dyersburg, Dyer County, Tennessee to- wit: Being lot no. 26 in the Fowlkes addition to said town said lot being 125 17/100 feet from East to West and 178 feet from North to South and so bounded on the North and South by streets on the East by lot No. 27 sold to Miss Ula Fay and West by Lot No 37 in said Addition), to have and to hold the same, together with the improvements unto the said BB Watkins, Secretary +c, and his successors in office forever and we covenant with the said BB Watkins, Secretary +c and his successors in office that we are lawfully seized of said lot of land and have a good right to convey the same and that the same is unencumbered; and We bind our selves, our heirs and representations to merchant and forever defend the title to said lands to said BB Watkins Secretary +c, and his successors in office against the lawful claims of all persons whomsoever. But this conveyance is made for the following and no other purposes, to wit: The said Mary E. Simmons is indebted to the Dyersburg Building and Savings Association as shown by the books of the Association in the sum of Six Hundred Dollars for borrowed money loaned her by said Association, or other purchases from said Association at one of its sales, to enable her to build a dwelling house and the said Mary E. Simmons has by contract agreed pay and do by these presents agree to pay six per cent interest per annum on said six Hundred Dollars, the interest be paid in equaly monthly installments, on or before the first Thursday of each month, And the said Mary E. Simmons is a member of said Association, having subscribed for four shares therein of $200.00 each, and has agreed to pay one dollar monthly, dues or installments on each of said shares to said association by 2 oclock p.m. on the First Thursday of each month, and [PAGE 203] every month till said shares reach a par value, and has agreed to pay all fines and penalties and forfeitures that shall be assessed against him by said Association and keep the buildings erected on said lot fully insured for the benefit of said Association, as well as to keep paid all taxes that may be assessed by using lawful authority, and in all aspects to comply with the terms and conditions of the By-Laws and Constitution of said Association, and we are desirous of securing and making certain the payment of Six Hundred Dollars, and Interest, as well as said monthly dues, installments, fines penalties, taxes and the expense of keeping said building insured, +C, Now if the said Mary E. Simmons shall promptly pay said interest said borrowed money as it falls due, and pay said monthly installments of one dollar a month on each share as it may fall due, and pay all fines forefeitures, penalties that may be assessed lawfully against him by said Association, and keep paid all said taxes and costs of fire insurance and shall pay said sum of Six Hundred Dollars on or Before the time said shares shall reach a par value then this trust to be null and void, But if the said Mary E. Simmons fails to pay either said interest, installments, taxes, fines or penalties for Six Months after the same or either become due, or fire insurance or fails to pay said Six Hundred Dollars as herein provided then neither of said events, said sum of Six Hundred Dollars shall become absolutely due and payable at once and the said BB Watkins Secretary +C or his successors in office, as Trustee, is hereby Authorized and empowered and directed at once to take possession of said lot, and after advertising the time, terms and place of sale, by Written or printed Hand-bills shall sell said lot, for cash in hand, at public auction, at the Court House door in Dyersburg, Tennessee to the highest bidder, and apply the proceeds, First, to the cost of making and executing this Trust, if not already paid by us: Second, to pay said Six Hundred Dollard, interest installments, fines, penalties, cost of fire insurance +C and Lastly, the balance to us or our order, said BB Watkins Watkins Secretary, or his successors in office, are authorized to execute a Deed or Deeds for said lot in the event of a sale and whosoever may be said secretarys successor successors, we further waive the necessary afoursaid Trustee making oath or bond as by law required of Trustees, our said Trustee or his successor, [Page 204] Is to auction off said property if sold, and we further authorize and agree that said property, if sold, shall be sold free from the equaty of redemption, or right of re-purchase, and free from all claim of homestead as well as free from all claim or right of Dower of said Mary E. Simmons. Whether said FT Simmons is living at the time of sale or not, And I, the said Mary E. Simmons, do hereby transfer and turn over to said Association said shares of stock, which they hold, as collateral security to further the pay rest of said money, interest, taxes, fire insurance, penalties, fines +C, according to the terms conditions of the constitution and By-Laws of said Association – All made before signing The said shares turned over being from a shares in series No 3 This Thursday the day of 188 FT Simmons ME Simmons State Of Tennessee Dyer County Personally appeared before me WL Wilkerson Clerk of the County Court of said County, the above named FT Simmons and ME Simmons the bargainers, with whom I am personally acquainted , and acknowledged that they executed the above instrument for the purchases therein expressed, And ME Simmons, wife of the said FT Simmons having personally appeared before me privately and apart from her husband the said ME Simmons 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 purchases therein expressed Witness WL Wilkerson Clerk of said Court, at office, this 19th day of March 1887. WL Wilkerson Clerk NOTE: This deed was found in Dyer County Deeds Book Z, Page 202 - 204. It is transcribed as written with grammatical errors.
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