4/8/1952 · MISC · book 32 page 703 doc 10003076@32/703

446 if we, the said mortgagors, or our heirs, executors, administrators or assigns, shall pay unto said Wakefield Trust Company, its successors or assigns, the sum of Three Thousand Five Hun- dred ($3,500.00) Dollars, wherefor we the said mortgagors have made our negotiable promissory note payable to said aggregate sum to said Wakefield Trust Company and made a mortgage in fa- vor of the said Wakefield Trust Company, one year from the date hereof with interest thereon at 6% per annum, and provided that if the said promissory note and the sum mentioned above sum is paid, whether at or before maturity, and all installments of interest in arrears, whether due or not, shall be paid in full, then and there the said mortgage shall be null and void, provided so pay all taxes and assessments of every kind levied or assessed upon or in respect of said pre- mises, and that the said mortgage and the promissory note, and any extensions thereof, by said assigns, may be called upon to pay, whether assessed under statutes now in force or that may be hereafter enacted, and that said promissory note shall become and be abso- lutely void to all intents and purposes whatsoever. BUT IF DEFAULT shall be made in the payment of the said principal sum or of said interest at the time or times or in the manner aforesaid, or of the taxes or assessments aforesaid as we have herein agreed, then the said Wakefield Trust Company, or its successors or assigns, then it shall be lawful which shall be made of the covenant for insurance hereinafter contained, then it shall be lawful for the said Wakefield Trust Company, or its successors or assigns, to enter upon said premises, all and singular, the premises hereby granted, or intended to be granted, or any part or parts thereof, and to sell and convey the same, as a judicial sheriff or marshal, for our heirs, executors, administrators and assigns, in a public auction, at public notice, and to bind the foreclosing party or parties, and the purchaser or purchasers thereof, in the manner prescribed by law, and supervisable for the application of the purchase money), first giving notice of the time and place of such sale, by publishing a notice of the time and place of such sale once a week for three weeks in some newspaper published in Washington County, state of Rhode Island, with sufficient notice to the mortgagors, and the purchaser of the premises, and the notice of publishing of said notice shall be continued together with a notice of the adjournment or postponement of said sale, if any, until the time of sale, and the same shall be upon the premises or elsewhere as specified in such notice; and in such sale the said Wakefield Trust Company, or its successors or assigns, may be a bidder (and for that purpose they are with these presents duly authorized and appointed with full power of substituti- tion), and that the said Wakefield Trust Company, or its successors or assigns, may sell the premises or sales a good and sufficient deed or deeds of sale of premises in fee simple; and to receive all the proceeds of such sale, and to apply the same to the payment of all taxes and assessments then due then or due at full thereafter, or of the part thereof then remaining unpaid, and also the payment of all interest and principal then due on said promissory note, and the payment of all counsel fees and other expenses incurred, in or in any way connected with the execution of said mortgage and the sale of said premises, and the balance of such proceeds, if any, to pay or, if any, be otherwise satisfied to our heirs, executors, administrators or assigns, and that the or, if any, be otherwise satisfied to our heirs, executors, administrators or assigns, and that the over, or be above the amounts and so far as retained as aforesaid, together with a true and parti- cular account of the proceeds of such sales and charges to us, the said mortgagors, our heirs, executors, administrators, or assigns, which shall be a full and sufficient discharge of the premises, a fair bar in both law and equity against us said mortgagors, our heirs, executors, administrators or assigns, and that the said premises shall be forever released and discharged from us, them, or any of them. AND WE, the said mortgagors, for ourselves and for our heirs, executors, administrators and assigns, do hereby covenant with said Wakefield Trust Company, its successors and assigns, that we will or they upon request execute such deeds or such deeds of confirmatory of such sale or sales as may be necessary. AND FURTHERMORE, we, the said mortgagors, for ourselves and for our heirs, executors, ad- ministrators and assigns, hereby covenant with said Wakefield Trust Company, its successors and assigns, that we will or they upon request execute such deeds as may be necessary, and that on the buildings on the premises aforesaid, in such office or offices as said Wakefield Trust Company, its successors or assigns, shall approve, in a sum not less than Three Thousand Five Hundred Dollars ($3,500.00) Dollars as insurance against loss or damage by fire, and that the said buildings shall be assigned and transferred, or made payable in case of loss, to said Wakefield Trust Company, its successors or assigns, and that we will or they upon request execute such deeds of hereby, agree that said Wakefield Trust Company, its successors or assigns, may effect a further insurance on said premises, and that we will or they upon request execute such deeds as said mortgagors, our heirs or assigns, and that the premium or premiums paid therefore shall be a further encumbrance upon said premises, secured by these presents as aforesaid. IN WITNESS WHEREOF we have hereunto set our hands and seals this 9th day of February A.D. one thousand nine hundred and forty-one. Signed, sealed and delivered in presence of: { } MICHAEL A. PIETILA (SEAL) } MICHAEL PIETILA (SEAL) } MARY R. PIETILA (SEAL) Leroy C. Whitford STATE OF RHODE ISLAND, } County of Washington, } In South Kingstown, on the 9th day of February, A. D. 1949, appeared before me personally Appear- ed the above named Michael Pietila, sometimes known as Michael Pietila and his wife Mary R. Pietila, who acknowledged to be known and recognized by me to be the parties executing foregoing instrument, and they each acknowledged said instrument, by them executed, to be their free act and deed. LEROY C. WHITFORD Notary Public. Received for record February 12th, A. D. 1949 at 9:00 o'clock a. m., and recorded by [Seal] Town Clerk Industrial National Bank of Providence, having received full payment and satisfaction of the within mortgage, recorded in the Land Evidence Records in the Town of Charlestown in Mortgage Book 31 at page 349-5 and does hereby cancel and discharge the same. IN TESTIMONY WHEREOF said Company has caused these Presents to be signed and its Corporate