Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1917-08-17

III Ohc CTCult COurtIOr montgomery county,
as Court of Equity. No. 1891 Equity
The object of this suit is to remove the
defendant, Edgar G. Gum, as trustee under
three certain deeds Of trust hereinafter
more particularly referred to and described,
and for the appointment of new trustee
In his place and stead.
The bill alleges that the complainant is
the owner OF various tracts Of land in
Montgomery county. Maryland, which were
subject to various record encumbrances,
| aggre9ating in excess of S500000.0O;
that for the purpose Of paying off portions
OF said Indebtedness, II negotiated with
the American National Bank of Richmond.
and other parties, for loans upon certain
OF said tracts, aggregating S275,000.00;
that in pursuance of the carrying out of
said negotiations, said complainant exc
cuted and delivered a certain deed OF trust
TO the defendants, George G. Gregory and
Edgar q. Gum, upon certain of said tracts
OF land, securing an Indebtedness of S125,-
OOOOO. which deed of trust was dated
November Is, 1916, and duly recorded in
Liber No. 2Bl. at folio 1877, and In addi-
ton executed and delivered another GER
tain deed of trust TO said defendants, George
C. Gregory and Edgar G. Gum. upon GER
tain OF said tracts of land. securing an in
debtedness of $l50.000O0, said deed of
trust being dated November II, 1919, and
duly recorded among the Montgomery
county Land Records in Liber No. 26l, at
folio 467, that the notes representing the
Indebtedness secured by said first above
mentioned deed Of trust are now held and
owned by the defendant American Trust
Company, and that the notes representing
the Indebtedness secured by said second
deed OF trust are now held and owned by
the defendants. A. l.. Hawse, Oliver j.
Sands. Walter Holiday. r. II. HARDWOOD,
Warner Moore and X. II. Bruce that In
further settlement of said negotiations. 1t
became necessary to procure an additional
loan OF $50 100000, which said loan should
be prior lien to the deed Of trust herein
before referred to. and recorded In Liber
No. 26l, at folio 467, securing $50 ,000. 90,
and the complainant and the holders and
owners of the notes secured by said last
mentioned trust agreed that said deed of
trust should be released Of record and
new deed Of trust executed and delivered
securing the identical notes aggregating
$3.50, 100000. secured by said deed Of trust
in Liber No. 26i, at folio 487. which should
be recorded subsequently 10 the deed Of
trust of S80,000.00 above referred TO /;
that In pursuance Of said agreement and
negotiations, complainant executed deed
OF trust to George C. Gregory and Otis p.
Walker, upon certain Of the above tracts
OF land, securing an Indebtedness of $50, =
10000, said trust being dated April 2,
1917. and duly recorded in Llber No. 265,
at folio 140 of said Land Records, and
In addition executed and delivered GER
tain deed OF trust to the defendants, George
c. GREGORY and Edgar G. Gum, resecuring the
identical notes aggregating $l500000O,
which had been secured by the deed of
trust In Liber No. 281. at folio 407, said
deed Of trust being dated April II. 1917,
and recorded in Liber No. 265, at folio
206 of said Land Records; that release
was prepared Of the deed Of trust recorded
In Liber No. 26l, at folio 467. in accord
ance with the above mentioned agreement,
and presented TO the trustees, George C.
Gregory and Edgar G. Gum, for signature.
but said trustee. Edgar G. Gum, although
requested in writing by all Of the holders
Of notes secured by said deed Of trust
without reasonable excuse, refused to exc
cute said release or any relense Of said
deed OF trust. or TO resign or relinqulsh MS
trusteeship hereunder that the deeds OF
trust herelnbei0re referred 20, ana recorded
IN Llber No. 26l. at folio 30I, and Liber
no zoo AZ iolio SVo' PROVIDED ior partiai
releases OF the lana embraced therein In
accordance with certain provisions therein
more iuIy set iort1' ana tnat failure 20
procure such release or releases would
lnjurlously Affect c0mplalnants ability TO
deal with the land embraced therein, and
cause II irrepnrable loss and damage that
by reason OF the attitude assumed by said
defendant, Edgar Il. Gum, IN respect to
the execution OF o relense OF the deed OF
trust recorded IN Llber NO. Z6l, at folio
relinnnish his ,rnsteeshIn comnIo,nant ne
Iieves /, will me DELAYED and hornssed in
nrocnrino releases NJ The deeds of trust
,"oo,dad IN ihar No o9t ~, So,io aa7