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North Carolina, Guilford County.
This Contract made this the first day of May, A.D.1913, by E.T. Corbit, of Guilford County, North Carolina, party of the first part, and Charley Shelton, of Guilford County, North Carolina, party of the second part. Witnesseth, That whereas the party of the first part has this day contracted and agreed to sell and convey to the said Charley Shelton a house and lot in the City of High Point, N.C. for the sum of $1000.00. Said house and lot being in the Western part of the City, adjoining the lands of E.T. Corbit and others and bounded as follows; Bounded on the South by the Public Road leading through West point Avenue: On the East by E.T. Corbit's lands: on the North by John Gurley lands, on the West by street or Alley, and containing about 10,000 square feet more or less, and upon which there is a four room house. The party of the first part is to execute and deliver to the party of the second part a deed for the above described lot upon the following conditions and no other -to-wit; The party of the second -Charley Shelton is to deposit $10.00 in the Bank of Commerce to the credit of E.T. Corbit on the first day of each and every month until the whole amount of $1000.00, together with the interest on the same is paid in full. It is expressly understood and agreed that a failure to to meet the above payments as stipulated will render his contract null and void and of no effect, and the money paid to E.T. Corbit, by the said Charley Shelton, and the improvements made on the said place by the said Shelton will be forfeited to the said E.T. Corbit as payment for rent.
It is also understood and agreed that the said E.T. Corbit reserves onehalf interest in the well on said lot as long as E.T. Corbit owns the adjoining lot.
It is expressly understood and agreed that if the said Shelton fails to make the said payments asaforesaid stipulated the said Corbit has the right to take possession of the premises above described and eject the said Shelton.
In witness whereof the said parties have hereunto set their hands and seals the day and year above written.
E.T. Corbit (seal) C.E. Shelton (seal)
Witness. W.[P?]. Ragan