This section is from the book "Hill's Manual Of Social And Business Forms: A Guide To Correct Writing", by Thos. E. Hill. Also available from Amazon: Hill's Manual Of Social And Business Forms: The How-To-Do-Everything Book Of Victorian America.
State of Tennessee, County of Cumberland,
Richard Tennyson, of Crossville, in said county and State, being duly sworn, says that he sold the premises described in the annexed printed notice, by public auction, at the time and place of sale therein mentioned, to wit: On the twentieth day of January, A. D. 1877, at nine o'clock in the forenoon, at the east door of the court-house, in the city of Crossville, in said county and State, and that Thomas Paine then and there purchased the same, for the price of Twenty-Five Hundred Dollars, he being the highest bidder, and that being the greatest sum bidden for the same.
And this deponent further says that said sale was made in the day-time, and, in all respects, honestly, fairly and legally conducted, according to his best knowledge and belief; and, also, that the said Thomas Paine purchased the said premises fairly and in good faith, as he verily believes.
Sworn before me this twentieth day of January, A. D. 1877.
GORHAM T. STILES, Justice of the Peace.
It now remains for the person holding the mortgage to figure up the principal and interest actually due upon the mortgage at the time of sale, adding to that amount all fees to legal officers, cost of advertising, and other necessary expenditures attending the foreclosure, to deduct the total sum from the $2,500 for which the property was sold, and to pay the surplus to the one who gave the mortgage.
This having been done, the sheriff of the county proceeds to give a deed of the property sold to the one who buys it. This deed sets forth the circumstances of the indebtedness, the foreclosure of the mortgage, the advertising and the sale, and transfers the ownership to the purchaser in the usual form of a deed.
Usually there is a fixed time and method for the redemption of his forfeited real estate by the one who gave the mortgage, but the laws of the several States differ in this direction. Thus in North Carolina there is no redemption; in California six months are allowed for redemption upon repayment of the money for which the property was sold and two per cent. interest per month on the amount; in Arkansas, one year, with costs and 10 per cent. interest per annum; and in Alabama, two years, under the same conditions.
This Indenture, made and entered into this tenth day of March, in the year of our Lord one thousand eight hundred and seventy-two, between Amos W. Barber, of the town of Waukegan, of the county of Lake, and State of Illinois, party of the first part, and Alonzo W. King, of the same town, county, and State, of the second part:
Witnesseth, that the said party of the first part, for and in consideration of the sum of Six Hundred Dollars in hand paid, the receipt whereof is hereby acknowledged, does hereby grant, sell, convey, and confirm unto the said party of the second part, his heirs and assigns forever, all and singular, the following described goods and chattels, to wit:
Two four-year-old cream-colored horses, one Chickering piano, No. 6132, one tapestry carpet, 16x18 feet in size, one marble-top center-table, one Stewart cooking-stove, No. 4½, one black-walnut bureau with mirror attached, one set of parlor chairs (six in number), upholstered in green rep, with lounge corresponding with same in style and color of upholstery, now in possession of said Barber, at No. 8 State street, Waukegan, Ill.;
Together with all and singular the appurtenances thereunto belonging, or in any wise appertaining; to have and to hold the above-described goods and chattels unto the said party of the second part, his heirs and assigns, forever.
Provided, always, and these presents are upon this express condition, that if the said Amos W. Barber, his heirs, executors, administrators, or assigns, shall, on or before the tenth day of March, A. D. one thousand eight hundred and seventy-three, pay or cause to be paid to the said Alonzo W. King, or his lawful attorney or attorneys, heirs, administrators, or assigns, the sum of Six Hundred Dollars, together with the interest that may accrue thereon, at the rate of ten per cent per annum, from the tenth day of March, A. D. one thousand eight hundred and seventy-two until paid, according to the tenor of one promissory note bearing even date herewith for the payment of said sum of money, that then and from thenceforth, these presents, and everything herein contained, shall cease, and be null and void, anything herein contained to the contrary notwithstanding.
Provided, also, that the said Amos W. Barber may retain the possession of and have the use of said goods and chattels until the day of payment aforesaid; and also, at his own expense, shall keep said goods and chattels; and also at the expiration of said time of payment, if said sum of money, together with the interest as aforesaid, shall not be paid, shall deliver up said goods and chattels, in good condition, to said Alonzo W. King, or his heirs, executors, administrators, or assigns.
And provided, also, that if default in payment as aforesaid, by said party of the first part, shall be made, or if said party of the second part shall at any time before said promissory note becomes due, feel himself unsafe or insecure, that then the said party of the second part, or his attorney, agent, assigns, or heirs, executors, or administrators, shall have the right to take possession of said goods and chattels, wherever they may or can be found, and sell the same at public or private sale, to the highest bidder for cash in hand, after giving ten days' notice of the time and place of said sale, together with a description of the goods and chattels to be sold, by at least four advertisements, posted up in public places in the vicinity where the said sale is to take place, and proceed to make the sum of money and interest promised as aforesaid, together with all reasonable costs, charges, and expenses in so doing; and if there shall be any overplus, shall pay the same without delay to the said party of the first part, or his legal representatives.
In testimony whereof, the said party of the first part has hereunto set his hand and affixed his seal, the day and year first above written.
Signed, sealed and delivered in presence of Robert Kendall.
AMOS W. BARBER.