On November 17, 1936, Phoenix Mutual Life Insurance Company, defendant below, executed a special warranty deed to Ethem E. Morgan conveying all of Lot Four and the Northeast 7.35 acres of Lot Five of Section Twelve, Township Eight South, Range Four East, Marshall County, Oklahoma, containing 52.45 acres, more or less, "EXCEPTING and RESERVING, however, to Grantor, its successors and assigns, forever, a royalty...
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