Barnaby v. Boardman

JOHNSON, Judge.

On or about 28 December 1978, plaintiff, Barnaby, purchased a tract of land located in the Cedar Island Township of Carteret County from defendants for $150,000.00. At the closing, Barnaby paid to the defendants the sum of $5,000.00, and executed a promissory note secured by a purchase money deed of trust which provided that:

Grantor shall be entitled, from time to time, to the release or subordination of certain portions of the property conveyed herein, which release and subordination provisions are contained in that certain agreement between the parties hereto, dated the 15th…