Hays to Mealey: Ore Bank Mortgage

Deed of Trust

This Mortgage and Deed of Trust made this twenty third day of July A. D. Eighteen hundred and ninety five between John Hays, of the Borough of Carlisle, County of Cumberland and State of Pennsylvania, and Jane V. N. Hays, his wife, of the first part, and Edward W. Mealey of Hagerstown, Washington County Maryland, in trust, as hereinafter set forth, of the second part. Witnesseth, Whereas the said John Hays in indebted to Edward W. Mealey, of Hagerstown, aforesaid, in the sum of Twenty thousand Dollars (20,000), and has made and delivered therefore eighteen bonds, numbered from one to eighteen, both inclusive, under his hand and seal, of even date herewith, each in the sum of One thousand Dollars ($1,000), paybale to Edward W. Mealey, or bearer, at the Hagerstown Bank, of Hagerstown, Maryland, on the first day of April nineteen hundred and five with interest on each bond from April first, eighteen hundred and ninety five, at the rate of six per cent per annium, payable semi annually, at said Bank, upon presentation of the proper coupons therefore attached to said bond and from other bonds numbered from nineteen to twenty two, both inclusive, under his hand and seal of even date herewith, each in the sum of five hundred Dollars ($500), payable to Edward W. Mealey or bearer, at the Hagerstown Bank of Hagerstown, Maryland, on the first day of April, nineteen hundred and five with interest on each bond from April first, eighteen hundred and ninety five at the rate of six percent per annium, payable semi annually at the said Bank upon presentation of the proper coupons thereafter attached to said bonds, with the right which is reserved in said bond to the said John Hays, or any one holding the real estate herein after described and conveyed, to call in and pay off any or all of the said bonds on April first, eighteen hundred and ninety seven, or on any first of April in any subsequent year thereafter prior to the maturity of said bonds, by first giving notice by publication in one newspaper published in Washington County, Maryland and in one newspaper published in Jefferson County, West Virginia, at any time for three consecutive weeks, within three months of said April first designating in such notice that the number or numbers of the bonds so called in, and thereupon the said bonds shall become due and interest thereon shall cease from and after the day for which they may be called in. The said bonds are in words, [?] and effect following to wit: “No– $= I, John Hays, acknowledge that I am indebted to Edward W. Maley in the sum of $– which I promise to pay to Edward W. Mealey, or bearer, at the Hagerstown Bank, of Hagerstown, Maryland, on April first nineteen hundred and five, with interest from April first, eighteen hundred and ninety five, at the rate of six percent per annium, payable semi annually at said Bank upon proper presentation of the proper coupon hereto attached, with right to me, with right reserved, on the first day of April, eighteen hundred and ninety seven, or on any first day of April in any year prior to April first, nineteen hundred and five, to call in this bond, first giving notice of the call by publication, as specified in the Mortgage securing this bond. This bond is one of a series of twenty two, numbered consecutively, from one two twenty two, the first eighteen of which are each for one thousand Dollars ($1,000) and the remaining are each for Five hundred Dollars ($500). They are secured by first mortgage and Deed of Trust of even date hereinafter, to Edward W. Mealey, of Hagerstown, Maryland, Trustee, upon the following real estate, to wot: A tract of sixty one acres, more or less, in Washington County, Maryland with a frame flouring mill and all improvements thereon an ore bank lot in said Washington County, of ninety two and three fourth acres of land, more or less, part of the Antietam Iron Works, the Virginia Ore Bank in Jefferson County, West Virginia, of ninety acres of land, more or less; an ore right upon about sixteen hundred acres of land in Jefferson County, West Virginia known as “Friend’s Ore Bank” as granted from Henry Lee and others by deed, dated May eighth eighteen hundred, and also one half acre of land described in said deed, and a railroad siding connecting the ore bank on said Virginia land with Baltimore & Ohio Railroad, togetehr with all machinery and appliances that may be in use for taking out ore, and belonging to the Mortgager, with power to the Trustee at the request in uniting of the holder thereof upon default in payment of the principal or interest coupon of any bond for ninety days after same becomes due and payable, and upon production of such bond or interest coupon, with due certificate of protest for non payment at the place of payment, to sell said land, after notice as required by the terms of said Mortgage and Deed of Trust and apply the proceeds of the sale to costs, expenses, commissions of three percent in paid taes, and then to all said bonds and accrued interest. A said Mortgage and Deed of Trust contains provisions for keeping up a fire insurance of thirty five hundred dollars ($3500) upon the buildings and machinery on the property, to be assigned to the trustee for the security of the bond, and for filling any vacancy occuring in the trust from time to time, or at any time, resulting from death, upon the nomination of those holding a majority of the bonds, or, upon their failure for thirty days to nominate, then such vacancy to be filled by the circuit court for Washington County, sitting as a Court of Equity in the State of Maryland, provided always that I, or any one holding under me, shall have the right which is hereby reserved, to call in and pay off all, or any of said bonds on April first, eighteen hundred and ninety seven, or any first of April in any year or years thereafter, after three weeks notice in one newspaper in Washington County, Maryland, and one in Jefferson County, West Virginia, within three months of such April first, designating the numbers of the bonds so called in, and thereupon such bonds shall become due and interest thereon shall cease.

Witness my hand and seal this twenty third day of July eighteen hundred and ninety five.
signed John Hays (seal)