Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1924-11-14
AID No. 756

AAASfALA fAO ANO' gov
GEORGIA, Sumter County.
Whereas, w. D. Rice did, on Pe-
cember l, 1921, execute and deliver
to the undersigned ten principal
notes, evidencing the principal of a
loan that day made to him by the
undersigned, the first nine of said
notes being for the sum of $4,000
each and maturing one each year,
commencing December 1, 1922, and
ending December 1, 1880, and the
remaining note being for the sum
of $4,000 and maturing December
1, 1881; and did also, at the same
time, execute and deliver to the
undersigned twenty interest cou-
pom notes, evidencing the semi-an-
nual interest due on said principal
sums; and,
Whereas, each of said principal
notes contained the following pro-
vision, to-wit: "It is expressly
agreed that time is the essence of
this contract, and should any one
of the above mentioned interest
notes or any annual payment which
may be required herein in reduc-
ton of the principal be not paid
when due, then the principal of this
obligation together with all ar
|rearages of interest shall become
due and payable regardless of the
date of the maturity, at the option
of the holder, without any notice to
the maker" and,
Whereas, for the purpose of Sc
curing the payment of said loan,
evidenced by said notes, said w. D.
Rice did, on said date, execute and
deliver to the undersigned deed to
the following tract or parcel of
land, to-wit: 4
One hundred and twenty-six and
|one-fourth (126 LAY. acres of land
in lot of land number seventy-three
(73), being the south five-eights
(5-8) of said lot, and being the en-
tire south half of said lot, contain
ing one hundred and one and one
fourth (101 Id acres, and TWEEN
ty-fve (25) acres of and across the
south side of the north half Of said
lot; also fifty (50) acres Of land
off the north side of lot Of land
number seventy-two (72), said fiji
ty (50) acres being in a tract Of
equal width entirely across the
north side of said lot; the whole of
said tract or parcel of land aggre-
eating one hundred and seventy
six (176) and one-fourth acres,
|all lying and being in the sew
enteenth (17th) land district of
Sumter County, Georgia, and the
whole of same now encireled in a
wire fence: which said deed is
recorded in the office of the clerk
lof the Superior court of Sumter
county, Georgia, in deed book "X
*" pages ATS to 478; and,
Whereas, in said deed, said w.
D. Rice did provide, contract and
agree, time being the essence of the
contract. that if any of said prin-
cipal notes or interest coupon notes
should not he promptly paid at ma
turity then said principal notes, to-
gether with all arrearages of in
terest thereon, shall at once become
due and collectible at the option of
the undersigned, without any no
tice of any kind to said w. D. Rice,
and, in the event of such default,
the undersigned nay sell said
above described tract or parcel of
land at auction at the courthouse
door in the City of Amerieus, Sum-
ter County, Georgia, to the highest
bidder for cash, first giving four
weeks notice of the time, terms and
place of sale by advertising once a
week in a newspaper in the City of
Americas, Georgia, and thereupon
to execute and deliver to the pur-
chaser at said sale a sufficient CON
veyance of said premises in fee
simple, which conveyance shall be
effectual to bar all equity or re-
|demption of said w. Z. Rice and his
successors in interest in and to the
said premises, at which sale the UNI
dersigned may purchase and exc
cute and deliver to itself convey
ance as though it were a stranger
to said deed; and did also there
in provide that the undersigned
should collect the proceeds of said
sale and reserve therefrom the en-
tire amount of principal and in
terest due, together with the
amount of taxes, assessments, prem
iums of insurance heretofore paid
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