$1350. | PREMIUM, | $270. |
SURVEY, | ||
POLICY, | 1 | |
$271. |
reference being had to the Application of said Trustees for a more particular description, and as forming a part of this POLICY during the term of five years, commencing at 12 o'clock at noon on the fourth day of July, 1863, and ending at 12 o'clock at noon on the fourth day of July, 1868. NOW, THEREFORE the said Company, for and in consideration of the deposite of the Premium Note aforesaid, and of the 20 per cent. of the same to them paid by the said Trustees the receipt whereof is hereby acknowledged—do, by THESE PRESENTS, promise and agree to make good unto the said assured, their successors, administrators, and assigns, all such direct and immediate loss or damage by fire, (not exceeding the whole sum insured,) as shall happen by fire to the aforesaid property during the time this POLICY shall remain in force—the said loss or damage to be estmated according to the true and actual value of the property at the time the same shall happen—and to be paid within ninety days after notice and proof thereof made by the assured, in conformity to the conditions annexed to this Policy: PROVIDED ALWAYS, AND IT IS HEREBY DECLARED, That this Company shall not be liable to make good any loss or damage by fire which may happen to take place by means of any invasion, insurrection, riot or civil commotion, or any military or usurped power: AND PROVIDED, FARTHER, That in case the assured shall have already any other Insurance against loss by fire on the property hereby insured, and not notified to this Company and mentioned in or indorsed upon this Policy, then this INSURANCE shall be void and of no effect. And if the assured or their assigns shall hereafter make any other insurance on the same property, and shall not with all reasonable diligence give notice thereof to this Company, and have the same endorsed on this instrument or otherwise acknowledged by them in writing, this Policy shall cease and be of no farther effect. And if any subsequent insurance should be made upon the property hereby insured, which, with the sum or sums aready insured, should, in the opinion of the said NORTH-CAROLINA FIRE INSURANCE COMPANY, amount to an over-insurance, said Company reserve to themselves the right of cancelling this Policy, by surrendering to the assured his Deposite or Premium Note. And in the case of any other insurance upon the property hereby insured, whether prior or subsequent to the date of this Policy, the insured shall not, in the case of loss or damage, be entitled to demand or to recover of this Company any greater protion of the loss or damage sustained than the amount hereby insured shall bear to the whole amount insured on the said property. AND IT IS AGREED AND DECLARED to be the intent and meaning of the parties hereto, that in the case of the above mentioned buildings shall, at any time after the making and during the continuance of this insurance, be appropriated, applied, or used to or for the purpose of carrying on or exercising therein any trade, business, or vacation, or for the purpose of storing therein articles, goods, or merchandise, by which the risk is increased, unless herein otherwise specially provided for, or hereafter agreed by this Company in writing, and added to or indorsed upon this Policy, then and from thenceforth, so long as the same shall be so appropriated, applied or used, these Presents shall cease and be of no force or effect. AND IT IS MOREOVER DECLARED, That this Insurance is not intended to apply to or cover any books of account, written securities, deeds or other evidences of title to land, to bonds, bills, notes or other evidences of debt, nor money or bullion. And that this Policy is made and accepted in reference to the conditions hereunto annexed, which are to be used and resorted to in order to explain the rights and obligations of the parties hereto, in all cases not herein otherwise specially provided.
On East Building . . . . . $5000 On South Building . . . . . 5000 On West Building . . . . . 5000. $15000 at 9 per cent $1350 Situated at Chapel Hill & described in Survey Report Nos. 5043 & 9895
Attested,
J. H. Kelly, President
Hamden S. Smith, Secretary
. . . . . . . . . . (Seal.)
Approved,
. . . . . . . . . }Ex. Com.
. . . . . . . . . . .
. . . . . . . . . . .
J.B.G. ROULHAC, Raleigh, | JOSH G. WRIGHT, Wilmington, | JOSH BONER, Salem, |
HENRY D. TURNER, Raleigh; | JAMES E. HOYT, Washington, | W.W. GRIFFIN, Elizabeth City, |
TALBOT H. SELBY, Raleigh | ALEXANDER MITCHELL, Newburn, | A.T. SUMMY, Asheville, |
JOHN R. WILLIAMS, Raleigh | JOHN M. JONES, Edenton, | F.F. FAGAN, Plymouth. |
C.W.D. HUTCHINGS, Raleigh | W.N.H. SMITH, Murfeesborough, | O.F. LONG, Hillsboro', |
JAMES M. TOWLES, Raleigh | H.B. WILLIAMS, Charlotte, | JOS. WHITE, Wadesboro'. |
JAMES F. JORDAN, Raleigh | GEO. A. SMITH, Milton, |
J.B.G. ROULHAC, President, | JNO. R. WILLIAMS, Executive Committee. |
H.D. TURNER, Vice-President, | T.H. Selby, Executive Committee. |
J.C. PARTRIDGE, Secretary & Treasurer, | C.W.D. HUTCHINGS, Executive Committee. |
JNO. H. BRYAN, Attorney. |