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This Indenture
made this 14th day of May 1821 between Vachel
Clement of the County of Barren and State of Kentucky of the first part
and the President and Directors of the Bank of the Commonwealth of Kentucky
of the second part Witnesseth that the party of the first doth hereby bargain
and Sell give grant assign over & transfer to the party of the Second
part their Sucessors and assigns three tracts of Land Situate in Said County
of Barren in the Barrens the first tract containing 200 Acres & bound
as follows, To wit, Beginning below the limestone spring; two hickories
marked D K runing N 10 East 200 poles to a hickory & white Oak thence
N 80 W 160 poles to three black Jacks thence South 10 W 200 poles to a Stake
thence S 80 E 160 poles to the Beginning The second tract containing seventy
two Acres & bounded as follows Beginning at the Beginning corner of
Wm Gills 125 Acres Survey assee of Puckett at two white oak stumps near
the limestone spring thence south 40 W 106 poles to a black oak and white
oak original corner thence south 25 East 26 poles to a post oak thence South
61 W 39 poles to three poast oaks thence N 65 W 62 to two black Oaks &
hickory on the original line thence with sd. line N 20 E 130 poles to three
black Jack Joseph Martins corner thence S 75 E 100 poles to the Begining
The other tract containing twenty Acres lying in sd. County & bounded
as follows, To wit, Beginning at a black oak thence South 10 West 20 poles
to a hickory and white oak corner to Denis Kelly's 200 Acre survey thence
with his line N 80 W 160 poles to his corner a Post oak thence to a black
walnut & poplar in a hollow thence S 75 E 96 poles to the Begining containing
in the whole 292 Acres which tracts of land the party of the first part
declares to be in Mortgage for the payment of Seven hundred & fifty
eight dollars and all interest that may accrue thereon at the rate of six
per cent per annum according to the Tenor and effect a certain promissory
Note which the party of the first part hath executed & delivered to
the party of the second part for the sum Debt payable one hundred and eighty
days after the date thereof and according to the tenor and effect of such
other Note or Notes as the party of the second part may or shall from time
accept discount and take from the party of the first part for the renewal
or continuance of the Said Debt or Note or any part therof it being the
object and intent of the parties hereto that this conveyance or Mortgage
shall remain in full force as a security for the actual payment of the whole
sum of Money above mentioned and all interest that may accrue thereon notwithstanding
any change or Succession of Notes that may from time to time be given by
the party of the first part and accepted and Discounted by the party of
the second part for the continuance or renewal of said note first above
mentioned or for any part of said Debt and the party of the first parth
doth agree that the said Lands may be exposed to sale if he shall at any
time be in default in makeing payment of the principal and interest of the
time when the same may become due and payable or shall fail to pay any note
or notes that may from time to time be given and discounted for the renewal
of the whole or any part of said Debt as the same may become due the proceeds
of such sale to be applied first to the payment of the costs and expences
attending the sale, and then to the payment of the Debt hereby intended
to be secured and the ballance if any to be paid to the party of the first
part. The party of the first part for himself his Heirs Executors and Administrators
doth covenant and agree with the party of the second part that he is seized
and possessed of a true and indefeasable Estate in fee Simple in the premises
aforesaid and hath lawful right to sell and convey the same and for himself
his Heirs Executors & Administrators further covenants that he will
pay all taxes and assessments which shall be levied on the Estate herein
Pledged and that he will not hinder the party of the second part or their
Agent from Selling Said primisses if necessary and will delivery immediate
possession to the purchases. In Witness whereof the party of the first part
hath hereto set his hand and seal the date aforesaid
Barren County, To wit,
I William Logan clerk of the County Court of Barren aforesaid do certify
that the foregoing Mortgage from Vachel
Clement to the President and Directors of the Bank of the Commonwealth
of Kentucky was on the day of the date hereof acknowledged before me by
the said Vachel Clement to be
his act and Deed for the purposes therein mentioned and that the said Mortgage
is entered of Record in my Office given under my hand this 14th day of May
1821
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