Trustee’s Deed, signed by William E. Moberly, St. Louis, Trustee, of Chattel Mortgage, dated July 6, 1870, loan made to Lewis Cass Hite and Benjamin Ruffner. Sale of property after default of loan made through five notes as purchase money for saw mill, about 7 miles from Potosi, four each for $500, with terms of 90 days, 6 months, 9 months, and one for $300 due 15 days from date of execution. The borrowers defaulted on the loans due six months and nine months from date of execution. Sale of property was advertised in the Missouri Democrat: original confirmation of printing and clipping from newspaper included, document signed by Richard Homs, publisher of Missouri Democrat. Personal property defaulted: one portable steam circular saw mill, 12 hp, and cylinder about 10 by 20 inches together with all appliances and fixtures thereto attached, cut off saw and all appliances and fixtures, now located on land within about seven miles of Potosi., 1873 Feb 8

Item — Box: 1, Folder: 7

Identifier: A3035-00054

Staff Only

Trustee's deed signed William E. Moberly, St. Louis, Trustee, of Chattel Mortgage, dated July 6, 1870, loan made to Lewis Cass Hite and Benjamin Ruffner, February 8, 1873

Scope and Contents

From the Collection:

The collection consists mainly of land record documents showing the activity of Firmin V. Desloge in St. Francois County and Washington County, Missouri. The collection is mostly made up of Trust Deeds, various deeds of conveyance, and Chattel Mortgages. Also included are notes for loans made, communication with purchasers of ore from the Desloge Lead Mine Company and volumes relating to the purchase of the Bogy Lead Mine and the creation of the Desloge Consolidated Lead Company. Documents found in the collection include the following: Trust Deed (or Deed of Trust): There are three parties to this document: Party of the 1st Part, the Borrower; Party of the 2nd Part, the Trustee; Party of the 3rd Part, the Lender. The document is recorded, in the county in which the property is located, for the term agreed upon, by the borrower and lender, in the signed Promissory Note. The Trustee holds the right (foreclosure) to sell the property, at the courthouse door, in case of default. General Warranty Deed: Written instrument used to transfer ownership/title of a property from the seller (grantor, party of the first part) to a buyer (grantee, party of the second part). In a Warranty Deed the Grantor guarantees that they legally own the property with no outstanding liens, mortgages or encumbrances, the document further warranties the clear title of the property. Quit Claim Deed: Written instrument that transfers ownership/title from owner (grantor, party of the first part) who has terminated, or quit, his claim to the property to a recipient (grantee, party of the second part). This deed makes no guaranty and provides no warranty to the clear title of the property. Deed: Written instrument that is signed and delivered, especially one regarding the ownership of land. Trustee’s Deed: Written instrument that transfers legal title/ownership to a purchaser (grantee) after foreclosure, default of loan terms. In this case, the seller of the property is the Trustee established in the recorded Trust Deed. Chattel Mortgage: A mortgage made against movable/personal property, if the loan falls into default, the items offered as collateral are forfeited to the lender. Note: Document that established amount of money borrowed and the terms for its repayment, including any interest to be charged.