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Home My WebLink About24-05 DeedJAM /jd 87 -061 5/18/83 L. **Mk rfrl, .I. AA A.fe.x.f. 41196 JOSEPH A. MASSIE, JP. C:%'I'H.. TO: 'I'i:15ST B. M. BUTLER, E'I' Al,, TBS. f *f *****tl *RAAAff **!r**** *nAR.. E,S.59 THIS DEED OF TRUST, made and dated this i m day of May, 1983, by and between Joseph A. Massie, Jr., Executor of the Estate of E. L. Peter, deceased, party of the first part, hereinafter called rcantor, and Benjamin M. butler, party of the second part, hereinafter called Trustee.' WHEREAS, E. L. Peters died April 18, 1982, and his Will was probated in the Clerk's Office of the Circuit Court of Frederick County, Virginia, in Will Book Page 413, and Joseph A. Massie, Jr. duly qualified as Executor under the terms of said Will; and, WHEREAS,. said Will provides and gives authority to the Executor to borrow money and encumber the real estate of the decedent's estate; and, WHEREAS, it is necessary to borrow funds for the purpose of paying the taxes due by said estate. NOWTHEREFORE THIS DEED OF TRUST WITNESSETH: That for and in consideration of the sum of One Dollar ($1.00) cash in hand paid by the said Trustee to the party of the first part, i on or before the delivery of this deed of trust, the receipt of which is hereby acknowledged, the party of the first part duo hereby grant and convey unto the said Trustee under the terms and provisions herein- after set forth the following real estate, to -wits All of that certain tract or parcel of land lying and being situate on the North side of Virginia Secondary Highway No. 657, otherwise known as Senseny Road, approximately one (1) mile East of the City of Winchester, Virginia, in Shawnee Magisterial District, Frederick County, Virginia, and more particularly des- cribed in that certain plat and survey of lQuent R. Short, C.L.S., dated March 23, 1961, which is attached to and made a part of that certain deed from Sophia G. Trenary and h;sband to E. L. i'�uRfa 678 MW l arlarnt.a. moony At WOOS er55 °PCG16.. Peters and Ruth E. Peters, his wife, as tenants by the entliety with the common law right of sur- vivorship, dated June 2, 1962, and of record In the Clerk's Office of the Circuit Court of Page Frederick The County, said Ruth E a having S g 271, the 1st day of August, 1976, thereby vesting fee simple title in and to said realty to the said E. L. Peters, EXCEPTING FROM THIS CONVEYANCE is Senseny Heights .Subdivision, Section One, of record in the aforesaid C)erk's Office in Deed Book 272, Page 450, Senseny Heights Subdivision dated August 1, 1972, and of record in said Clerk's Of- fice in, ;Deed Book 399, Page 93, consisting of s Lots 1 through 5, Block D, Lots 1 through 7, Block B:• and a subdivision of Senseny Heights dated June 15, 1976, and of record in said Clerk's Office in Deed Book 484, Page 524, for Lots 6, 7, 8, and 9, Block D, Lots 3 through 12, Block C and that certain reed of Dedication dated August 14, 1978, for an additional portion of Williamson Road extending from Senseny Road northward to the intersection of Stafford Drive and of record in the aforesaid Clerk's Office in Deed or parcel of land contains g LESS 5.16 acres conveyed to the Trustees of Christ Episcopal Church by deed dated January 22, 1963,. and of record in the Clerk's Office in Deed Book 285, Page 416, and lesstAhat conveyance to the Commonwealth of Virginia for the widening of Senseny Road, by deed dated February 20, 1970, of record in said Clerk's Office in Deed Book 363, Page 304. The said lands herein encumbered include that certain lot or parcel of land containing 36,545 square feet, improved by two (2) brick apartment buildings containing twelve (12) apartments each and that certain lot or parcel of land being 100 feet in width having a depth of 150 feet on the. Western corner of the intersection of Williamson Road and Senseny Road and improved by a store building, and the cdditional 5.6 acres zoned commercial and an undeveloped street designated as Circle Drive, together with the undeveloped real estate of 4,5 acres zoned residential and including a Lot on the Northeast corner at the intersection of'Williamson Road and Senseny. Road improved by a old frame dwelling house. This conveyance is made subject to all ease ments, rights of way and restrictions.of record affecting the subject property. 2 i F`Y�f4r ;;f�•� i- Si '�f�t �.3 .N.,, A. fl•. n. usaira BK559rc679 IN TRUS' HOWEVER, to secure a• p yment Co the holder of a certain negotiable bond of even date herewith, made by the party of the first part, payable-to the order of thr Shenandoah Valley National Bank, of Winchester, Virgi.na, in the principal sum of One Hundred Fifteen Thou- sand Dollars ($115,000.00) with interest thereon at the rate pf two percent (21) over the quoted prime rate of the Chace Manhattan Bank, per annum, interest payments only commencing on the 1 day of June 1983, and continuing un the same day of each succesding month thereafter, except that, if not sooner paid the entire indebtedness shall be due and payable on the day of May, 1984. AND FURTHER IN TRUST, to secure the payment of any money, with interest thereon, advanced by the holder of the herclnabove described obligation to the party of the first part, or his successor in title, at any time be- fore the release of this deed of trust for any purpose to the extent that the amount advanced at any one time when added to the balance due on the original indebtedness and any prior advance, shall not exceed the amount originally secured by this deed of trust. This Deed of Trust is executed and is to be con- atruod In accordance with all the provisions of Section 55 -59 and 55 -60 of the Code of Virginia, and all amend- ments thereto except as otherwise provided herein. Advertisement required, Four (1) publications of notice of sale commencing within twenty -one (21) days before the date of sale in any newspaper of general circu- lation published or distributed where the property is lo- cated; commission of two and one -half percent (2 1/21) of 3 e•auc i 8 K559PG680 indebtedness shell be due Trustee if property 1c adver- tised but indebtedness paid before eels. The tarty of the'firet nart reserves the right to pay at any time the entire Indebtedness, or any part thereof. Exemptions waived, Subject to all upon default. Insurenos— required against fire and other calamity in the amount of the insurable value. Any default in the amount of the monthly payment provided in said secured Indebtedness, unless paid within fifteen (1S) days from the due date of said payment, shall at the option of the holder of said indebtedness, consti- tute an event of default under thla Deed of Trust, and the entire remaining balance shall at tho option of the Holder immediately become due and payable. Waiver of any default shall not constitute a waiver of any future default. The holder of the indebtedness assured by this Deed of Trust 1s hereby granted the power to appoint a sub- stitute Trustee pursuant to Section 26-49 of the Code of ylrelnla in the event of resignation, death, incapacity,.. J disability, removal or absence from the State of a•Trus tee; such substitute Trustee shall have the same powera as .I if originally named herein. The property secured by this Trust may not be sold by Contract of Sale or conveyed to any other person, firm or corporation, without the prior written consent of the holder of the bond and any such sale or conveyance shall be construed as a default of this Trust. NOTICE THE DEBT SECURED HEREBY CALL IN PULL OR IS SUBJECT THE TERMS THEREOF REIM MODIFIED IN THE' •e t q f I flan. L _area. R. amcsinso. terms II. A BK559PC661 EVENT OP SALE OR CONVEYANCE _OP 19:E IfRO1_EHTY __ECWj!_D HEREBY. WITNESS the following signature and seal: i 42 Joseph A. Massie Gr., Exervtor of the Estate of E. L. Peters, deceased STATE OP VIRGINIA (in OF t0 Mlit The foregoing Deed of Trust was acknowledged be- fore me this /4_,, /.day of -1 1983, by Joseph A. Massie, Jr., Executor of the Estate of E. Peters, deceased. My Commission expiresr Notar'j Public r flCL m'J'rn.'IIl. l t� -.•.ow L. .1%1 :+a::: r.: r......;r•,..'111 Neck. wr« lNNW Orr J w I'.rl.Yr W'Ar'.h'A... s 5