This section is from the book "Business Law - Case Method", by William Kixmiller, William H. Spencer. See also: Business Law: Text and Cases.
THIS INDENTURE WITNESSETH, That the Grantor, John Doe of the City of Terre Haute, Vego County, and State of Indiana, for and in consideration of the sum of Five Hundred dollars in hand paid, conveys and warrants to Richard Roe, of the City of Muncie, Knox County, and State of Indiana, the following described real estate, to-wit: Lot five, in Block 57, Section five, Township 39, North, Range 14, East of the Third Principal Meridian, situated in Vego County, in the State of Indiana, hereby releasing and waiving all rights, under and by virtue of the Homestead Exemption Laws of the State of Indiana, and all right to retain possession of said premises after default in payment or a breach of any of the covenants or agreements herein contained in trust, nevertheless for the following purposes:
WHEREAS, The said John Doe grantor, is herein justly indebted upon a promissory note bearing even date herewith, payable to the order of Robert Jones, for the sum of Five Hundred dollars, and interest.
NOW, If default be made in the payment of the said promissory note or any part thereof, or the interest thereof, or in case of waste or non-payment of taxes or assessments on said premises, or of a breach of any of the covenants or agreements herein contained, then and in such case the whole of said principal sum and interest, secured by the said promissory note, shall thereupon, at the option of the legal holder or holders thereof, become immediately due and payable; and on the application of the legal holder of said promissory note, or either of them, it shall be lawful for the said grantor, or his successor in trust, to enter into and upon and take possession of the premises hereby granted, or any part thereof, and to collect and receive all rents, issues, and profits thereof; and in his own name, or otherwise, to file a bill or bills in any court having jurisdiction thereof against the said party of the first part, his heirs, executors, administrators, and assigns, to obtain a decree for the sale and conveyance of the whole or any part of said premises for the purpose herein specified by said party of the second part, as such trustee or as special commissioner, or otherwise, under order of court, and out of the proceeds of any such sale to first pay the costs of such suit, all costs of advertising sale and conveyance, including the reasonable fees and commissions of said party of the second part, or person who may be appointed to execute this trust, and Twenty-five dollars attorneys' and solicitors' fees, and also all other expenses of this trust, including all moneys advanced for insurance, taxes, and other liens or assessments, with interest thereon at seven per cent per annum, then to pay the principal sum of said note, whether due and payable by the terms thereof or the option of the legal holder thereof, and interest due on said note up to the time of such sale, rendering the overplus, if any, unto the said party of the first part, his legal representatives or assigns, on reasonable request, and to pay any rents that may be collected after such sale and before the time of redemption expires, to the purchaser or purchasers of said premises of such sale or sales, and it shall not be the duty of the purchaser to see to the application of the purchase money.
WHEN the said note and all expenses accruing under this Trust Deed shall be fully paid, the said Grantee or his successor or legal representatives shall re-convey all of said premises remaining unsold to the said Grantor or his heirs or assigns, upon receiving his reasonable charges therefor. In case of the death, resignation, absence or removal from said Vego County, or other inability to act of said Grantee, the Richard Smith of said City of Terre Haute, is hereby appointed and made successor-in-trust herein, with like power and authority, as is hereby vested in said Grantee. It is agreed that said Grantor shall pay all costs and attorney's fees incurred or paid by said Grantee of the holder or holders of said note in any suit in which either of them shall be plaintiff or defendant, by reason of being a party to this Trust Deed, or a holder of said note, and that the same may be a lien on said premises, and may be included in any decree ordering sale of said premises and taken out of proceeds of any sale thereof.
WITNESS, The hand and seal of said Grantor this 14th day of November, A. D. 1915.
Signed, Sealed and Delivered in presence of JOHN DOE (Seal) SAMUEL LUND
JAMES TRUDE
 
Continue to: