HomeMy WebLinkAboutLOD202100017 DB1073 P38 2021-09-07R 1073PC0038
THIS DEED MADE THIS 8th day of September, 1989, by and
between H. JACK FAW, JR., also known as JACK FAW, JR., and
ELIZABETH R. FAW, his wife, hereinafter referred to as the
Grantors, and ROBERT H. BLODINGER, TRUSTEE, hereinafter referred
to as the Grantee, whose address is 403 Park Street,
Charlottesville, Virginia 22901,
W I T N E S S E T H:
That for and in consideration of the sum of $10.00 and
other good and valuable consideration, receipt of which is hereby
acknowledged, the Grantors do hereby GRANT, BARGAIN, SELL and
CONVEY with GENERAL WARRANTY and ENGLISH COVENANTS OF THE unto
ROBERT H. BLODINGER, TRUSTEE, all that certain parcel of land,
with improvements thereon and appurtenances thereunto belonging,
situated in Albemarle County, Virginia, on the road from
Charlottesville to Hydraulic, known as State Route 743,
containing 1.28 acres, designated as Parcel "C' on a plat made by
William S. Roudabush, Jr., and Associates dated December 1960 and
recorded in the Clerk's Office of the Circuit Court of Albemarle
County, Virginia, in Deed Book 365, page 409, and being the same
property in all respects conveyed to Jack Faw, Jr. by deed of
Diversified Leasing Company of North Carolina, Inc., dated
December 30, 1988, of record in said County Clerk's Office in
Deed Book 1031, page 45.
Said property is conveyed subject to easements and
restrictions of record.
Said property is further conveyed subject to a lease
agreement dated October 24, 1986 between Diversified Leasing
Company of North Carolina, Inc. and Drillers Service, Inc. and
any subsequent renewals or modifications thereof.
This conveyance is made pursuant to a trust agreement
1
n
8K1073M0039
dated September 8, 1989? a copy of which is attached hereto and
recorded herewith. No subsequent purchaser from the Trustee
shall be obliged (i) to see to the application of any purchase
money; (ii) to see that the terms of said trust agreement have
been complied with; or (iii) to inquire into the authority,
necessity, or expediency of any act of the Trustee, the Trustee
having full power and authority to convey the property herein
free from any claims whatsoever of any present or future
beneficiary of the trust.
This conveyance is not subject to recording tax under
Virginia Code Section 58.1-811 (12).
Witness the following signatures and seals.
ai/G�
J ck Faw, r.
STATE OF VIRGINIA AT LARGE nI,
IN THE CITY/G9SiMY OF uTa)- IOA5 10- r to -wit:
( SEAL)
(SEAL)
(SEAL)
The foregoing instrument was acknowledged before me
this 20-#-, day of October, 1989, by H. Jack Faw, Jr., also known
as Jack Faw, Jr., and Elizabeth R. Faw, his wife.
NOTARY PUBLIC
My Commission expires 12
THIS INSTRUMENT PREPARED BYt
Robert H. Blodinger, Attorney
403 Park Street
Charlottesville, VA 22901
2
0
eK 1033PG0040
THIS TRUST AGREEMENT, executed and delivered on this
8th day of September, 1989, by and between H. JACK FAW, JR., also
known as JACK FAW, JR., hereinafter referred to as the Grantor,
and ROBERT H. BLODINGER of Albemarle County, Virginia,
hereinafter referred to as the Trustee,
W I T N E S S E T H t
. - 4 •7�iiT=y y
The Grantor is the owner of certain property located in
Albemarle County, Virginia, Guilford County, North Carolina,
Johnston County, North Carolina, and Turner County, Georgia, ■ore
accurately and fully described on Schedules A, B, C and D
attached hereto and made a part of this trust agreement and
hereinafter referred to as the Exchange Property.
The Grantor wishes to sell the Exchange Property to
Drillers Service, Incorporated for the sum of $450,476.51 cash
and thereafter to use the proceeds thereof for the purpose of
consummating a like -kind exchange within the meaning of Section
1031 of the Internal Revenue Code.
Following the execution of this agreement on the
conditions hereinafter set out, the Grantor hereby irrevocably
assigns, conveys, transfers, sets over, depositor and delivers to
the Trustee, the above described Exchange Property, which
together
with
any other
property which may
be
received
by the
Trustee,
shall
constitute
the subject matter
of
the Trust,
hereby
created, and is herein referred to as the "Trust Fund". The
8K1073F00041
Trustee acknowledges the receipt of the real estate and agrees to
hold the same, together with any other property that may be
received by the Trustee, and to perform the fiduciary duties, as
Trustee as hereinafter set forth. Prior to the sale of any
properties herein by the Trustee, the Grantor agrees to obtain
release of all liens on the Exchange Property except for the
current years real estate taxes.
The Trustee may accept as an addition to this Trust any
additional cash from the Grantor necessary to satisfy the
purposes of this trust, and the Grantor agrees to transfer
sufficient cash as an addition to the principal of this Trust to
permit the Trustee to carry out the purposes of this Trust.
.. M
The purpose of this Trust is to effect the exchange of
like kind property within the meaning of Section 1031 of the
Internal Revenue Code.
The Trustee shall hold the corpus of this Trust for the
benefit of the Grantor upon the following terms and conditions:
1. The Trustee shall sell the real estate forming the
corpus of this Trust by entering into a contract with Drillers
Service, Incorporated for the sale of said properties at a price
of $450,476.51 cash with closing thereon to be held on or about
October 1, 1989 or at such earlier time as may be arranged. In
the event that the Trustee is unable to negotiate said contract
or after negotiating said contract for some reason said contract
becomes unenforceable and the sale does not take place, then the
Trustee shall continue to hold the property for a period of three
2
0
L _.
BK 1073PGO042
(3) months from date hereof in order to effectuate another tax
free exchange for the same or better terms, or if unable after
said time period, this Trust shall automatically terminate and
the Trustee shall convey the properties back to the Grantor or to
such parties as he may designate or at the direction of the
Grantor shall retain said properties for the purpose of
effectuating another like kind exchange under Section 1031 of the
Internal Revenue Code,
2. The Grantor shall within forty-five (45) days of
the closing of the sale described above, designate in writing to
the Trustee hereunder the replacement property.
3. If the Grantor designate replacement property, the
Trustee shall close the purchase of the replacement property
designated by the Grantor within one hundred eighty (180) days
following the sale of the Exchange Property or April 15, 1990,
whichever shall first occur.
4. Upon the closing of the purchase of any replacement
property, the Trustee may distribute to the beneficiary such
replacement property as the Trustee, in his sole discretion deems
advisable, continuing to hold the balance of the corpus of the
Trust for the purposes of effectuating the purchase of additional
replacement property with the balance of the proceeds.
5. The Trustee shall invest in a money market f and in
a national bank any excess funds which he might hold from time to
time.
6. Upon completion of the purchase of all of the
replacement property or properties or upon the expiration of
®t
forty-five (45) days after the closing of the sale of the j
3
eK I o7' rrjOOU
Exchange Property should the Grantor fail to designate sufficient
replacement property to utilize the entire corpus of the Trust,
this Trust shall terminate, and the Trustee shall convey the
principal including any replacement properties already purchased
and any accumulated income of this Trust to the beneficiary, No
distributions shall be made to the beneficiary prior to the
termination of this Trust except as provided in Paragraph 4
above.
The beneficiary of this Trust is H. Jack Faw, Jr., also
known as Jack Faw, Jr.
The Grantor and the Trustee agree that this Trust shall
be irrevocable.
The Trustee shall have the power to buy and sell real
estate, to hold funds, to make temporary investments of funds, to
enter into such contracts and deeds as are necessary to carry out
the purposes of this Trust, and any other powers necessary to
carry out the purposes of this Trust.
The Trustee's only obligation in connection with this
transaction shall be to receive, hold, transfer, and disburse the
said real estate and funds in accordance with the express
provision of this document. The Trustee shall have no liability
with respect to this transaction or any contract referred to
herein to any party for any damages, loss, or claim of any nature
whatsoever except as to handling the said funds in accordance
with the Trustee's express obligations set forth herein. The
4
0
R 107?PC, 0044
■
Grantor agrees to hold the Trustee harmless with respect to his
acts as Trustee hereunder.
No subsequent purchaser from the Trustee shall be
obliged (i) to see to the application of any purchase money; (ii)
to see that the terns of this trust agreement have been complied
with; or (iii) to inquire into the authority, necessity, or
expediency of any act of the Trustee, the Trustee having full
power and authority to convey the property free from any claims
whatsoever of any present or future beneficiary of the trust.
IN FATNESS WHEREOF the said Grantor, H. Jack Faw, Jr.,
also known as Jack Faw, Jr., and the said Trustee, Robert H.
Blodinger, have hereunto set their hands and seals.
in
F
( SEAL)
caw, o&.
'-�C4 it:�Q (SEAL)
, Jr.
(SEAL)
xonerr n.
�11
eK 10?3PG0045
STATE OF VIRGINIA AT LARGE
IN THE CITY/eeew "i OF et -or /wtesvJ %l4 to -Witt
It C. &6kc& / Qxo-- a Notary Public in
and for the State of Virginia at Large, do hereby certify that e.
Jack Faw, Jr., also known as Jack Faw, Jr., and Robert 8,
Blodinger, Trustee, whose names are signed to the foregoing
writing, bearing cute on the 8th day of September, 1989, have and
each has acknowledged the same before ■e in the City/Ceenir of
CAa.-/o6sv,& aforesaid.
Given under my hand this ?_01k day of October, 1989.
NOTARY PUBLIC
My Commission expires 14
THIS INSTRUMENT PREPARED BY:
Robert H. Blodinger, Attorney
403 Park Street
Charlottesville, VA 22901
(804)293-9183
L
i
BK 07' PG0046
F-141-1-4011MW
All that certain parcel of land, with improvements
thereon and appurtenances thereunto belonging, situated in
Albemarle County, Virginia, on the road from Charlottesville to
Hydraulic, known as State Route 743, containing 1.28 acres,
designated as Parcel TO on a plat made by Willi= 8, Roudsbush,
Jr., and Associates dated December 1960 and recorded in the
Clerk's office of the Circuit Court of Albemarle County,
Virginia, in Deed Book 365, page 409, and being the same property
In all respects conveyed to Jack Faw, Jr. by deed of Diversified
Leasing Company of North Carolina, Inc., dated December 30, 1988,
of record in said County Clerk's office in Deed Book 1031, page
45.
Jk fawf Jr.
Robert H. Blodinio 8tee
r,
(SEAL)
eK 1013FG0041
All that certain lot or parcel of land situated in
Gilmer Township, Guilford County, North Carolina and ■ore
particulany described as follows:
All of Lots 249, 250, 251, 2520, 253, 254, and 255 of
Section 4, Interstate Industrial District, Inc. property
according to a plat thereof recorded in Book of !laps 39, page 25,
in the Office of the Register of Deeds of Guilford County, North
Carolina.
The above described property is conveyed subject to
those restrictions as set forth in the deed recorded in Book
2336, page 75, Guilford County Registry.
Said property is the same property in all respects
conveyed to Jack Faw, Jr. by deed of Diversified Leasing Company
of North Carolina, Inc., dated December 30, 1988, and of record
in the Office of the Register of Deeds of Guilford County, North
Carolina in Book 3711, page 1262.
(SEAL)
(SEAL)
(SEAL)
8K 1073rr0048
All that certain lot or parcel of land situated in
Johnston County, North Carolina and more particularly described
as follows:
BEGINNING at a nail set in the curbing in the existing
northern right of way of U. S. Highway No. 301, said point being
40 feet from the centerline of U. S. Highway 301, thence with the
extended right-of-way of U. S. Highway 301 and with the line of
A. M. Noble (now or formerly) North 270 48' 00" West 295.86 feet
to an iron stake in the line of W. H. Weaver; thence with
Weaver's line North 610 35' 58" East 100 feet to iron pipe, a
corner to William Ragsdale, III1 thence with Ragsdale's line
South 270 48' 00" East 296.02 feet to an iron pipe in the
northern right-of-way of U. S. Highway 3011 thence with the right
Of way of U. S. Highway 301 South 610 41' 16" West 100.00 feet to
the point of beginning, and containing 0.668 acres, according to
a survey by Dennis R. Blackmon, R.L.S., dated August 8, 1989.
For a partial chain of title and further description
see deed recorded in Book 765, page 252, Johnston County
Registry.
Said property is the same property in all respects
conveyed to Jack Faw, Jr. by deed of Diversified Leasing Company
of North Carolina, Inc., dated December 30, 1988 and recorded in
the Office of the Register of Deeds of Johnston County, North
Carolina in Book 1116, page 497.
7/v,,�j (SEAL)
%./JaA Faw r.
(SEAL)
(SEAL)
e
BK1073M-0049
qAq
All that tract or parcel of land lying and being in the
County of Turner, State of Georgia, in Land Lot i131 and the
Second Land District, thereof, and being more particularly
described as follows:
First locate a point along the
Western right of way line of Interstate
Highway 75 which is also the Southeastern
corner of that certain tract of land
belonging to Double D. Trailers, Inc. by a
conveyance by Warranty Deed recorded in the
office of the Clerk of the Superior Court of
Turner County in Deed Book 72, page 400,
said point being marked by an iron pin and
said point being the Point 91 Beginning.
From said Point of Beginning travel along
the Western right of way line of the
Interstate Highway 75 in a direction of
South 210 56' East for a distance of 200
feet to a pc%,int marked by an iron pint from
said point then travel in a direction of
South 880 32' West for a distance of 459.38
feet to a point marked by an iron pint then
travel in a direction of North 610 05' 300
West for a distance of 61.09 feet to a point
marked by an iron pint from said point then
travel in a direction of North 210 54' 300
West for a distance of 167.00 feet to a
point marked by an iron pint from said point
then travel in a direction of North 880 32'
East for a distance of 500.48 feet and back
to the Point of Beginning. All according to
that certain plat of survey prepared for
Drillers Service, Inc. by Earl D. Raines,
dated 9-9-78 and revised 9-22-78 and
recorded in the office of the Clerk of
Superior Court of Turner County in Plat Book
4, page 138. Said plat of survey being
hereby incorporated into this description by
reference for descriptive and all other
purposes. This tract contains 2.138 acres
more or less.
Said property is the same property in all respects
conveyed to Jack Faw, Jr., by deed of Diversified Leasing Company
of North Carolina, Inc., dated December 30, 1988, of record in
the Office of the Clerk of the Superior Court of Turner County,
Georgia in Book 114, page 223.
JaaR-mr. Jr. /7
(SEAL)
(SEAL)
(SEAL)
eK 1073PGO050
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DEED WAS PREMM I
ON
J Cl 19_a, atMATE
(039)
IDM TTAX $ (213)
212
SFF� S Aoo (30I)
PLAT $ �-:
Sec.58.1-502 (038) J. '
TAX $ (223)
z� TAX
(223) BY
TUrAL s q oo �--