A SCOTT COUNTY MORTGAGE
This Chattel Mortgage, transcribed from Scott County Deed & Mortgage Book 3, is an example of the mortgages some Scott County farmers used during this time period in order to obtain the supplies necessary to plant and maintain their yearly crops. Many such mortgages were recorded each year during the spring planting season. Often they mortgaged the first bale of cotton, guaranteeing it would be brought & sold to the mortgage holder, plus other farm equipment; at times even their land was mortgaged in order for them to purchase the necessary supplies to put in their crops.
Scott County Deed & Mortgage Record 3
Chattel Mortgage, With Power of Sale
This Indenture, made this 27th day of February 1886 between W.H. Holland of Scott County Ark. party of the first part, and Z.J. Pierce of Yell County Ark. party of the second part,
Witnesseth, That for and in consideration of the sum of One Dollar, the receipt of which is hereby acknowledged, the party of the first part has bargained, sold, granted, conveyed, and by these presents hereby bargains, sells and conveys to the party of the second part, his heirs, executors, administrators and assigns, the following described property, to-wit: The entire crop of cotton to be grown by the party of the first part on J.L. Worsham's farm in Scott County, Ark. during the year 1886, one gray mare about 8 years old and about 15 hands high, three white & red pided cows all marked with a crop and split in right ear and under bit in left ear, To have and to Hold the same unto the party of the second part, his heirs, executors, administrators and assigns forever, conditioned, however, as follows:
Whereas, the said party of the first part is indebted to the party of the second part in the sum of $40.00 Forty Dollars more or less for merchandise to be furnished during the year 1886, and evidenced by the said W.H. Holland's account on Z.J. Pierce's books. Now, if the party of the first part shall well and truly pay to the party of the second part the sum hereinbefore mentioned, and all other indebtedness which may then be due the party of the second part by the party of the first part, together with the cost of this Trust, on or before the first day of November 1886, then this conveyance shall be void, otherwise to remain in full force and effect. And in case any default shall be made in the payment of said indebtedness, as herein set forth, or should the party of the first part, prior to the said first day of November 1886, sell, attempt to sell, ship, remove, or otherwise dispose of the property herein conveyed, or any part thereof, without the consent of the party of the second part, then, in either event, the party of the second part, his agent or attorney, is hereby authorized and empowered to take charge of said property on demand, without power of law, and sell and dispose of the same, or so much as will be necessary, at public sale, at Dardanelle, Ark. for cash in hand, upon two weeks notice in some newspaper published in the County, or by written notices posted in five conspicuous places near the property, at which sale any of the parties hereto may purchase as other parties, and out of the proceeds of said sale, the said party of the second part to retain the sum due him as herein set forth, and the cost of this trust, and of sale, rendering the surplus, if any, to the said party of the first part, his heirs, executors, administrators or assigns.
Given under my hand and seal this 27th day of February 1886.
W.H. (his X mark) Holland (Seal)
Attest: Geo. A. Harmon
State of Arkansas)
County of Yell) SS.
On this 27th day of February 1886 personally appeared before me, a duly commissioned and acting Notary Public of the above named County, W.H. Holland to me personally well known as the person named in the foregoing instrument as party grantor, and acknowledged that he had executed the same for the consideration and purposes therein set forth as his free, voluntary act and deeds.
Witness my hand and seal as such Notary Public the day and year last above mentioned.
Geo. A. Harmon, Notary Public
Filed for Record this 27th day of March 1886 at 8 o'clock A.M.
J.C. Gilbreath, Clerk
Copyright Delaine Edwards, 2000-2008.
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