Trust deed matter so that you may understand 

 it. I will start by copying the tiust deed 1 

 gave for Uio lands I lioui^ht, whicli is as follows, 

 to-wit : 



DEED OF TRUST. 



This Deed made and entered into this 3Uth 

 day of June, Nineteen Hundred and Nine, by 

 and between Hugh D. Studabaker and Mary R. 

 Studabaker, his wife, of the County of New 

 Madrid, State of Missouri, imrties of the 

 first part, L.. C. Phillips of the Coun- 

 ty of New Madrid, State of Missouri, party 

 of the second part, and Chai-les D. Matthews 

 of the County of Scoft, State of Missouri, party 

 of the third part: 



Witnesseth tliat the said parties of the first 

 part, in consideration of the debt and trust 

 hereinafter mentioned and created, and the 

 sum of one dollar to them paid by the said 

 party of the second part, the reieipt of whicli 

 is hereby acknowledged, do by these presents, 

 .s^rant, bargain and sell, convey and confirm 

 unto the said party of the second part the fol- 

 lowing- described real estate, situate, lying and 

 lieing in tlie County of New Madrid and State 

 of Missouri, to-wit: 



"All of that part of section seven, township 

 twentj'-four, range fourteen, as is lying west 

 of the right of way of the St. Louis & San 

 Francisco Railroad, and containing two hun- 

 dred and fifteen and four-one hundredths acres 

 measured. This Deed of Trust given to secure 

 the balance of purchase money for lands here- 

 in described." 



To have and to hold the same, with the 

 appurtenances to the party of the second pan 

 and to his successor or successors in this Trust, 

 and to him and his grantees and assigns for- 

 ever. IN TRUST, HOWEVER for the follow- 

 ing purposes: 



Wliereas, Hugh D. Studabaker and Mary Stu- 

 dabaker, the said parties of the first part, have 

 this day made, executed and delivered to the 

 said party of the third part, their eleven prom- 

 issory notes of even date herewith, by which 

 they promise to pay to the said Chas. D. Mat- 

 thews, or order, for value received, fourteen 

 thousand, one hundred twenty-eight dollars. 

 Agreeable to eleven notes, as follows: One note 

 for $500 due one year after date; one note for 

 .$912.80 due one year after date: one n.ote for 

 i?!, '11 2.80, due two j'ears after date; one note for 

 $1,412.80, due three years after date; one note 

 for $1,412,80, due four years after date; one 

 note for $1,412.80, due Ave years after date; 

 one note for $1,412.80, due six years after date; 

 , one note for $1,412.80, due seven years after 

 date; one note for $1,412.80, due eight years 

 after date: one note for $1,412.80, due nine years 

 after date; one note for $1,412.80, due ten years 

 after date. All above notes bearing 6 per cent 

 interest per annum from date. All the interest 

 to be due and payable annually and if not so 

 paid to become as principal and bear same 

 rate of interest. Parties of first part reserve 

 the privilege of paying part or all of the notes, 

 not due, at any interest paying time, which 

 privilege is granted by third party. 



Now, therefore, if the said parties of the first 

 part, or any one for them, shall well and truly 

 pay off and discharge the debt and interest 

 expressed in the said notes and every part 

 thereof when the same becomes due and pay- 

 able, according to the true tenor, date and 

 effect of said notes, THEN THIS DEED shall 

 be void, and the property hereinbefore conveyed 

 shall be released at the cost of the said parties 

 in the first part, but should the said first parties 

 fail or refuse to pay the said debt, or the said 

 interest, or any part thereof, when the same 

 or any part thereof shall become due and pay- 

 able, according to the true tenor, date and 

 effect of said notes, then the wliole shall be- 

 come due and payable, and this DEED shall 

 remain in force, and the said party of the sec- 

 ond part, or in case of his absence, death, re- 

 fusal to act, or disability in any wise, the 

 (then) acting sheriff of New Madrid County, 

 Missouri, at the request of the legal holder of 

 said notes may proceed to sell the property 

 hereinbefore described or any part thereof at 



puhlic vendue, to the highest bidder, at tlie 

 Court House door in the city of New Madrid, 

 New Madrid County, Missouri, for cash, first 

 gi\ iiig 25 days' public notice of the time, terms 

 and place of sale, and the property to be sold, 

 1).\' advertisement in some newspaper printed 

 and published in the county of New Madrid 

 and upon such sale shall execute -and deliver 

 a DEED in FEE SIMPLE of the property sold, 

 to the purchaser or purchasers thereof, and re- 

 ceive the proceeds of said sale; and any state- 

 ment of facts or recital by the said trustee in 

 relation to the non-payment of the money se- 

 cured to be paid, the advertisement, sale, re- 

 ceipt of the money, and the execution of the 

 deed to the purchaser, shall be received as 

 PRIMA FACIE evidence of such fact; and such 

 trustee shall out of the proceeds of said sale, 

 pay, first, the cost and expenses of executing 

 this trust, including legal compensation to the 

 trustee for his services; and next he shall ap- 

 ply the proceeds remaining over to the pay- 

 ment of said debt and interest, or so much 

 thereof as remains unpaid; and the remainder, 

 if any, shall be jiaid to the said parties of tlie 

 lirst part, or their legal representatives. 



And the said party of the second part cove- 

 nant faithfully to perform and fulfill the trust 

 herein created, not being liable or responsible 

 for any mischance occasioned by others. 



In witness whereof, the said parties here- 

 unto set their hands and seals the day and year 

 first above written. 



Hugh D. Studabaker. 

 Mary R. Studabaker. 



State of Missouri, ■ County of Scott: SS: On 

 this iSth day of September, 1909, before me 

 personally appeared Hugh D. Studabaker, Mary 

 R. Studabaker, his wife, to me known to be 

 the persons described in and who executed the 

 foregoing instrument, and acknowledged that 

 they executed the same as their free act and 

 deed. 



IN TESTIMONY WHEREOF, I have hereunto 

 set my hand and affixed my official seal, at 

 my olTice in Sikeston, Mo., the day and year 

 first above written. 



A. J. Moore, Notary Public. 



State of Missouri, County of New Madrid: 

 SS: In the recorder's office, I, , re- 

 corder of said county, do hereby certify that 

 the within instrument of writing, was, on the 

 20th day of September, A. D. 1909, at 9 o'clock 



and minute A. M. duly filed for record in 



this office, and is recorded in the records of 

 this office in book S at page 542. 



IN ^VITNESS WHEREOF, I have hereunto 

 set my hand and affixed my official seal this 

 day of , , J. W. Jackson, re- 

 corder. 



Now this is a very radical change from what 

 the rule is in securing deferred payments where 

 these young men and I came from in Indiana. 

 There you secure deferred payments by mort- 

 .gage on the property sold and in the event of 

 a foreclosure, you have a year's time in which 

 to redeem, in fact you have a little chance for 

 your life, so to speak, but under a trust deed, 

 as you will notice from careful reading — a few 

 notices — a sale and it is all over. I herewith 

 copy an advertisement for a sale under a trust 

 deed which will show at a glance what an in- 

 ability to meet an obligation brought to the 

 people giving it. 



TRUSTEE'S SALE. 



Whereas, and , his wife, by 



their certain deed of trust dated on the 



day of May, 1911, and duly acknowledged and 

 recorded in the recorder's office in Scott Coun- 

 ty, Missouri, in book , page , the same 



being one of the land records of said county, 

 conveyed to the undersigned trustee the follow- 

 ing described real estate, to-wit: (Here follows 

 a copy of the description of the real estate.) 



When said conveyance was made to secure 

 the payment of promissory notes spe- 

 cially described in said deed of trust and which 

 notes are past due and unpaid. 



Now, therefore, at the request of the legal 

 holder of said notes and in conformity with the 

 provisions of said deed of trust, I, the under- 



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