SALMON v. CLAGETT.—3 BLAND. 149

shall, in like manner, and in good faith, be put into the hands of
said Charles Salmon, and valued by disinterested persons, and re-
ceived by said Salmon at such valuation.

* " 3rd. The said Salmon shall receive the goods when in-
voiced as above at the gross amount of the same, together 129
with all the moneys received on account of debts, notes, or book
account, and place the same to the credit of said estate.

" 4th. The said Salmon shall be responsible for the legal debts of
said Clagett, to the amount of $39,500. including his own claim and
borrowed money; and retain a mortgage which he now holds to in-
demnify him for any deficiency which may exist, after collecting
the debts, and taking the goods at their invoiced price, if any defi
ciency should then appear.

"5th. One gentleman shall be appointed by each party, to ex-
amine every debt, and determine whether it shall be classed as
borrowed money or other legal debts, and should they disagree,
they shall have power to appoint an umpire whose decision shall
be binding.

" 6th. The said Salmon shall give his notes severally to the
creditors, at nine months without interest, or fifteen months with
interest added after nine months, at his discretion, for such por-
tion as they shall decide to be legal debts; and his notes at ninety
days with interest for such portion as they shall class as borrowed
money.

''7th. Should the effects of Thomas Clagett not realize the
aforesaid sum of $39,500, the said Salmon shall not foreclose the
mortgage he holds, until after the expiration of two years from
this date.

" 8th. Alter this agreement has been executed by the respective
parties to it, it is understood that all responsibilities to and from
Thomas Clagett, shall be annulled, so far as the persons we seve-
rally represent may be concerned. Also, to exonerate the family
of Thomas Clagett from the payment of such notes as may be
signed, or endorsed by them, and held by said Salmon, not inter-
fering with or invalidating their liability on the mortgage held by
said Salmon.

"It is expressly understood, that nothing contained in this
agreement shall, in any manner, affect the mortgage heretofore
given by Thomas Clagett and his family to indemnify said Salmon
against certain risks or losses; excepting so far as to delay fore-
closing the said mortgage for two years from the date hereof.''

This agreement was signed by " Daniel Cobb, Henry Beadel, on
behalf of the creditors of Thomas Clagett," and by " P. Baltzell,
for Chars. Salmon," and by "Thomas Clagett." By authority of
* this agreement Salmon took possession of the goods, and
proceeded to collect the debts due to Thomas Clagett. 130