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.

 MOUNTAIN INVESTRIENT, INC.
(M1CO)
Pt 0. BOX 357 PLEASE ADDRESS REPLV To:
PHONE 606-457-2761
WHEELWRIGHT. KENTUCKY 4‘669
5101 Yacht Club Road
Jacksonville, Florida 32210
A)ril :5, 1975
9"
V
Liberty National Bank 8 Trust Company
Post Office Box 1499
Louisville, Kentucky 40502
Attention: Mr. John Y. Van Bibber, Vice President
Gentlemen:
Enclosed is copy of deed from Mountain Investment, Inc. to
Ji:l.‘i§§ .“;gndggs and gzorrle Sanders, H13 life _, covering
sale of Lot :314 . Please prepare a partial release

______._____________________
by Liberty National Bank 8 Trust Company of its mortgage on this proper-
ty and TCoward it to Mr, Fred Francis, Prestansburg, Kentucky
which is Escrow Agent for this transaction.

We have sent the original deed, and plat, together with our dis-

' bursement letter, to our Kentucky attorney, for his certification of the
deed. He is then to Forward the documents to the escrow agent.

Your letter to the escrow agent covering the release of these
properties should contain instructions as to disbursement of the pro-
ceeds of this sale in accordance with the terms of your mortgage.

' If there is any Further information required, please advise.
Yours very sincerely,
MOUNTAIN INVESTMENT, INC.
President
(Form 69-l9)
(Rev.5/l/69)
,

 AGREEMENT OF PURCHASE
4 THIS AGREEMENT, made and entered into as of the 12th
‘ ‘day of April , 19_12__, by and between Mountain
Investment, Inc., herein called "Owner” and James Sanders and
Corrie Sanders, his wife herein called ”Buyer.”
W I T N E S S E T H: ,

THAT WHEREAS "Owner" has offered to sell to ”Buyer" Lot No.
_~ 31“ located in its Wheelwright Sub—division, Floyd County,
Kentucky, as shown on map or plat in File 348, Floyd County Court
Clerk's Office, and improvements thereon except as hereinafter set
out, for the sum of $ 2,000.00 , and, in addition ”Buyer" shall
pay the sum of $135.00 closing costs and $30.00 for survey plat to
be supplied by ”Owner”, all of which is to be paid as follows: ,

$ 100.0% down payment, the receipt of which is here-
by acknowledged, and the balance of $ 2,055.00 ,(which includes
closing c0Sts and the survey plat cost) on date of closing, and
upon delivery of deed of conveyance to ”Buyer" with covenant of
General Warranty of Title, subject to the exceptions and reser—
vations contained in those two instruments of conveyance from
Island Creek Coal Company to "Owner”, referred to herein for source

, of title and which are dated November 9, 1966, and recorded in Deed
Book 191 at page 504, and ALSO in those certain deeds executed by
"Owner" to Harold Telephone Company and Tel—Com., Inc. dated
June 15, 1967 and recorded in Deed Book 193 at pages 271, 273, and
275, records of the Floyd County Court Clerk’s Office, and ALSO
deed of conveyance from ”Owner” to Kentucky Power Company dated

I December 29, 1967, and of record in Deed Book 195 at page #25,

records of the Floyd County Court Clerk's Office.

It is agreed that time is of the essence of this agreement
and that this transaction shall be closed, all money due hereunder
shall be paid to "Owner" and the deed herein provided for shall be
delivered to "Buyer" on or before May 19, 1975 . In event
”Buyer" does no pay the balance as herein provided on or before
the closing date then the down payment herein provided shall be
retained by ”Owner" as liquidated damages hereunder, and this
agreement is then void.

Taxes at the rate of $1.50 per $100.00 of selling price shall
be prorated to the date of closing and taxes for the unexpired portion of
the year following date of closing shall also be paid by ”Buyer" to
”Owner" on closing. All unpaid rents and utility bills due "Owner"
shall also be paid at date of closing.

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r: . . I -:a .. Office 01 Fred Fransis,
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