Austin Speed to Eckstein Norton University - Two Tracts

E. B. Smith, a Bardstown merchant, purchased several tracts at auction in 1866, and by 1884 part of them was ordered auctioned to pay a debt owed by Charles M. Smith to Stephen E. Jones Jones authorized the commissioner to convey a deed for the land to Austin Speed, a Louisville businessman. Speed held the land until 1889 when he sold it to Eckstein Norton University, as shown below.

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Bullitt County Deed Book 27, Pages 521-523

This deed made and entered into this 19th day of August 1889 by and between Austin P. Speed and Georgia A. Speed his wife of Louisville, Ky., of the first part and the Eckstein Norton University of Sciences, Professions, Arts and Trades of the second part.

Witnesseth that said parties of the first part for and in consideration of the sum of $4750 of which $3050 is paid cash, and the remainder has been paid in the equivalent of cash, the receipt of all which is hereby acknowledged have this day granted, bargained and sold, and by these presents do hereby convey and have conveyed unto the said party of the second part its successors and assigns a tract of land with all the appurtenances thereunto belonging, situated and being in the county of Bullitt, state of Kentucky, described as follows, to wit.

Being a tract of about 70 acres of land upon which is situated a brick house known as the old Doom residence, the main tract containing about 62 acres is bounded as follows, to wit.

Beginning at a white walnut stump in a sink on Stower's line, thence S 17° E 53 poles to a stake, thence N 80° W 165 poles to a stake in Overall's line, thence N 81 1/2° W 41 poles to an elm on the creek, thence up said creek West 31 poles to a stake, thence S 61 1/2° W 66 poles to a stake, thence S 74 1/2° W 20 poles to a hickory and beech stump, thence N 70° E 71 poles to the beginning.

Also a small tract adjoining the above 62 acres containing about seven and a half acres bounded as follows, to wit; on the north and east of the land above described and on the south and west by the public road leading from Shepherdsville to Bardstown.

To have and to hold the same unto the said party of the second part, its successors and assigns forever. But upon this express condition to wit. That whereas the Louisville and Nashville Railroad Company has contributed the sum of $1500; and Eckstein Norton, $500; J. D. Probest, $100; Thomas Rutter, $100; August Belmont, $100; J. S. Rogers, $100; John H. Inman, $100; William Westens, $100; J. A. Carter, $100, W. H. Smith, $100; Russell Houston, $100; J. A. Horsey, $50; J. D. Taggart, $100; amounting to the sum of $3050 of the purchase money for the land herein conveyed.

Now it is expressly agreed by the parties hereto that if the party of the second part or any of its successors or assigns shall ever contract any indebtedness to which this property shall by judicial proceedings or otherwise be subjected for the payment thereof, then the amounts so contributed by the parties aforesaid shall each sum be treated as an indebtedness from the party of the second part, its successors and assigns to said contributing parties, and for the payment thereof the said contributing parties shall have a first lien on the property hereby conveyed, and said money shall be paid to said contributing parties out of any proceeds of the sale of the land hereby conveyed before any part of said proceeds shall be paid to any other person or persons.

(signed) Austin P. Speed, Georgia A. Speed

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