H. O. Maraman to R. J. Meyler - Loan Mortgage

This agreement between Heny O. Maraman and Henry J. Barns of Mt. Washington involved their joint venture into developing and improving the water power of Salt River along the stretch of the river bordering Shepherdsville that Maraman had purchased from Wilhite Carpenter. Maraman then mortgaged his two farms to the Mercantile Trust Company of the City of New York to obtain a $5000 loan to complete the work on his mill dam. To increase his investment, Maraman consolidated his various debts into one mortgage to R. J. Meyler, mortgaging his property in Shepherdsville as shown below.

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Bullitt County Deed Book U, Pages 449-450

This mortgage made October 14, 1875 by H. O. Maraman and Elmira his wife of the first part and R. J. Meyler of the second part, all of Bullitt County, Kentucky.

Witnesseth that the first party is just indebted to the second party the sum of $976.97, being the balance of lien debts held and paid by the second party on lands mortgaged by the first party to the Mercantile Trust Company through Roe & Lyon, general agents, and the said balance being the Cundiff debt, the McClughan debt, Petty & Read debt, S. A. Rayman debt, W. W. Zazio & Co. debt, Petty & Bro. debt, M. E. Menefee debt & R. & N. Hall debt, after paying thereon $2810.12 through Roe & Lyon. Now in order to secure said sum of $976.97 and interest thereon from 25 August 1875 until paid at the agreed rate of 10% per annum and due and payable semiannually, the first parties hereby mortgage, put in pledge to the second party sell and convey the following property to wit: the house and lots owned by the first party lying in the town of Shepherdsville, Bullitt County, Kentucky, on corner of Main and Water Streets including Batch & Heizog lots, stables, ice house and appurtenances and improvement thereon; also the entire crops raised and to be raised on the farmlands of the first party in Bullitt County, Kentucky, named and described in their deed to said Mercantile Trust Company, and to be, remain and continue on said crops for successive years until this debt and interest shall be paid, let the years be more or less, with authority to enforce the same by distress if desired by the second party without action herein as fully as could a landlord and on the crops exempt as well as unexempt from distress &c for rent; but this mortgage does not and shall not prevent the second party if he so desires from taking judgment at law and execution and enforced payment by execution on this mortgage if he so desires or to do either or both and to secure the same the mill seat property bought of Carpenter is also mortgaged and put in pledge that the interest thereon owned by the first party, upon the same terms and conditions and giving same right to remedy &c as is specified in regard to the other mortgaged property. There are other unsettled debts between the first and second party and this is not to affect them, only the debts named have been considered.

Witness our hands this 14th day of October 1875. (signed) H. O. Maraman

State of Kentucky, Bullitt County, Sct. I E. W. Hall, Clerk of the Bullitt County Court, certify that on the 15th day of October 1875 the foregoing mortgage from H. O. Maraman & Elmira his wife to R. J. Meyler was produced to me in my office and acknowledged and delivered by H. O. Maraman, a party thereto, to be his act and deed and was on the same day lodged and ordered to be recorded, which with the certificate I have done those 22nd day of October 1875. E. W. Hall, Clerk.

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