"United States of America. Incorporated under the laws of the state of Georgia. Equitable Loan & Security Company. Atlanta [$505.54] Georgia. Class A. No. 2, 049. The Equitable Loan & Security Company of
Atlanta, Georgia, promises to pay to ——
of ——, Georgia, or order, at its home of-
five in Atlanta, Ga., five hundred and five dollars and fifty-four cents ($505.54) upon the following express terms and conditions: (1) That there shall be paid by the holder to the maker hereof, at its home office in Atlanta, Georgia, without any other or further notice, an installment of one dollar and twenty-five cents ($1.25) on the fifth day of each and every succeeding month hereafter until one hundred and thirty installments shall have been thus paid, time being of the essence of this contract. (2) That the holder hereof shall surrender for cancellation this certificate whenever the same shall be called, upon the payment to him of its then redemption value, the maker reserving the right to call and pay the same before maturity under the following rules and regulations. Certificates paid before maturity shall be paid in the following order, to wit: The first paid shall be No. 1, the second paid shall be No. 3, the third paid shall be No. 9, the fourth paid shall be No. 2, the fifth paid shall be No. 6, the sixth paid shall be No. 18, the seventh paid shall be No. 27, the eighth paid shall be No. 4, the ninth paid shall be No. 12, the tenth paid shall be No. 36, and so on, according to the table which is printed on the back hereof, and which table is hereby referred to and made a part of this contract (3) That the redemption
value of this certificate, if paid prior to its maturity, shall be fifteen dollars, if paid one month after date eighteen and 5/100 dollars, if paid two months after date twenty-one and 11/100 dollars, if paid three months after date twenty-four and 18/100 dollars, if paid four months after date twenty-seven and 26/100 dollars, if paid five months after date thirty and 25/100 dollars, if paid six months after date, and so on, the redemption value increasing three dollars with each installment paid, besides interest at the rate of 4 per cent, per annum on the redemption value of said certificate for the month next preceding the date of redemption hereof. (4) That of each and every installment paid as aforesaid the maker hereof shall place twent-five cents to a reserve fund, which shall be used and held for the protection of all live outstanding certificates issued by this company, and seventy-five cents to a redemption fund, which may be used as follows: (a) For paying certificates issued by this company in order and manner that they shall mature, (b) For paying off and retiring certificates prior to their maturity according to the terms hereinbefore stated, (c) For paying the heirs, executors, or administrators of any deceased holder hereof the sum that installments paid by such deceased may have contributed to the redemption and reserve funds, provided said certificate is in full force at death of holder, and satisfactory proof of such death is furnished the maker hereof within sixty days after death occurs, and the remaining twenty-five cents and all transfer fees shall be used for the expenses of said company. (5) That a failure to pay any one of said installments when due subjects the holder hereof to a fine of fifty cents, which, together with the omitted installment, must be paid by the fifth day of the next succeeding month, and, if said installment and fine are not paid within the said time, then this certificate shall be null and void and of no value, and the holder hereof forfeits all payments and fines, provided, however, that this company will reinstate said certificate at any time within three months after such forfeiture, upon the holder hereof first paying all dues hereon, together with fines assessed at the rate of fifty cents for each payment in default. If this certificate shall, according to the plan of redemption herein stated, become payable after it shall have been forfeited and before its reinstatement, then it shall be entitled to payment the next month after its reinstatement, and provided, further, that after six monthly installments shall have been paid in the manner herein provided, and all other stipulations herein shall have been fully complied with by the holder hereof and such holder shall thereafter default in any subsequent installment, the maker agrees to issue to such defaulting holder a new certificate, which shall bear the next unsold num-ber for an amount equal to the payments made on such defaulted certificate, less the amount deducted for expenses, which new certificate thus issued, shall be nonassessable, and shall bear interest at the rate of 4 per cent, per annum and shall be payable in its regular order as per plan of redemption herein stated, provided application for such new certificate shall be made to the home office of the company, and the old or defaulted certificate surrendered within three months after such defaulted certificate shall be canceled on the books of the company. (6) That all receipts and fines shall be paid into the redemption fund. (7) That the contributions to the reserve and redemption funds may be loaned to the holders of certificates issued by this company upon terms and security to be accepted by the board of directors, provided that not more than one hundred dollars can be loaned on account of any one certificate and no loan can be made for a longer time than five years. (8) That after the reserve fund shall have reached the sum of one hundred thousand dollars, the Interest earnings therefrom may at the option of the board of directors of this company be applied to the redemption of certificates then in force issued by this company. And, when the reserve fund shall have reached the sum of two hundred thousand dollars, then 50 per cent, or any other portion or all the further current contributions thereto may be applied to the redemption of certificates in force in like manner with the interest thereon when the board of directors shall so authorize. (9) That no transfer of this certificate shall be valid or binding on the maker hereof, until such transfer has been made in writing hereon, and the same duly recorded on the books of the company at its home office, and for each transfer a fee of one dollar must be paid before a transfer will be made. (10) That each and every transferee of this certificate accepts it subject to all the stipulations herein. (11) That no statement made by any one except as herein set forth shall be binding on this company. (12) That no part of the reserve, redemption, or other funds shall ever be loaned to any officer or director of this company. (13) That no part of the reserve and redemption fund shall be loaned, except (a) upon Improved real estate within the incorporate limits of the city in which it is located, and then not in excess of 50 per cent, of its cash market value; (b) upon government, state, county, or city bonds that have never defaulted the payment of interest, and this provision can never be changed, except by the consent of every holder of live certificates issued by this company in class A. In witness whereof this company has caused this certificate to be executed in its name and behalf under its corporate seal and by its president and secretary. This—day of——. Equitable Loan & Security Co., by H. E. W. Palmer, President, Jno. S. Owens, Secretary."
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