3/22/1946 · MISC · book 29 page 674 doc 1229@29/674

202 KNOW ALL MEN BY THESE PRESENTS: That WE, I. MORRIS BITHER and wife MARIE B. BITHER, of the City of Providence in the State of Rhode Island, (hereinafter called the mortgagors) in consideration of the sum of TWENTY SIX HUNDRED (2600) Dollars to us paid by the OLD COLONY CO-OPERATIVE BANK, a corporation legally incorporated and established and transacting business in the City of Providence in the State of Rhode Island, the receipt whereof is acknowledged, do hereby grant, bargain, sell and convey unto the said OLD COLONY CO-OPERATIVE BANK (hereinafter called the mortgagee), its successors and assigns, forever. That tract of land, with all buildings and improvements thereon, situated in the Town of Charlestown, in the State of Rhode Island, and bounded and described as follows:— Beginning at the southeasterly corner of land now or lately the property of Charles R. Deacon and wife, thence westerly bounding northerly on said Deacon land to Van Wagenhord fence; thence southerly bounding westerly on said Van Wagenhord fence to land now or lately of William B. Bizer; thence easterly bounding northerly on the Road leading to said Riggs land to the driftway leading from the East Pond to the Road leading to said Riggs land; thence northerly bounding easterly on said driftway seven hundred (700) feet; thence westerly in a direct line to the front of the Road, bounding northerly on land now or lately of Alfred J. Richter. Together with a certain strip of land over other land of said Alfred J. Richter from the tract to be described above to the Old River Junction Road, and subject to a right of way across the northwesternmost corner of said tract as now traveled. Together with all buildings and improvements now or hereafter erected thereon, all the hereditaments, appurtenances and rights thereto belonging or in any wise now or hereafter appertaining, the remnants and reverts, with all the plumbing, heating, lighting and other fixtures, equipment and articles now or hereafter attached thereto etc. TO HAVE AND TO HOLD the aforementioned premises, with their appurtenances, unto and to the uses of the said mortgagee, its successors and assigns, forever. And the said mortgagors do hereby, for themselves, and for their heirs, executors and administrators, covenant with the said mortgagee, and its successors and assigns; that they are seized of the premises; that they have the right to convey the same; that they are free from all incumbrances; except as aforesaid; that they have good right, full and lawful power, and authority to sell and convey the same; and further covenant that the said mortgagee, and its successors and assigns, shall by these presents at all times hereafter have and hold the premises, together with the appurtenances, and that the said mortgagors will, and their heirs, executors and administrators, shall and will warrant and defend the same to the said mortgagee, and its successors and assigns, forever, against the lawful claims and demands of all persons except as aforesaid. PROVIDED, NEVERTHELESS, that this conveyance is made upon the express condition that, if said mortgagors, or their heirs, executors, administrators or assigns, shall pay unto the said mortgagee, or its successors and assigns, the sum of twenty six hundred (2600) Dollars, together with the interest thereon, in monthly installments of Twenty six Dollars (26) all only, beginning on the first day of July, 1946, and continuing until the said monthly installments in earn bear at interest the rate of two (2) per cent per month until the said mortgage loan is paid in full, and provided further that the said mortgagors being even during date therewith; and shall also pay all taxes, assessments, insurance and other charges that may be levied or assessed against the premises, and the part of the said mortgagors, or their heirs, executors, administrators and assigns, to be paid or performed shall be void to all intents and purposes. but IF DEFAULT shall be made in the payment of any of the sums money above mentioned, or if the taxes, assessments, insurance and other charges due or aforesaid, or of the taxes, assessments, insurance premiums or water rates heretofore mentioned, in the sum of one hundred (100) Dollars or more by or by said note required or secured or of any portion thereof at the time of payment, or if breach shall be made of any of the covenants hereinbefore contained for three (3) months, or if breach shall be made of the covenant for insurance hereinafter contained or of any other covenant herein contained, then the said mortgagee, or its successors and assigns, or of said note, or if the whole of said principal sum shall not be paid when lawfully demanded, may at its option, foreclose the premises, and sell the same, and its successors or assigns, to sell, together or in parcels, and all the singular and premises hereby granted, and the said mortgagee, or its successors and assigns, may sell the same, and of the benefit and the equity of redemption of the said mortgagors, and their heirs, executors, administrators or assigns, to sell the same, and the proceeds of such sale for not less than the value thereof at such sale, and no other purchaser shall be available for the application of the purchase money, and such sale shall be made upon terms to be published by the mortgagee at least once each week for three (3) successive weeks in some newspaper published in the City of Providence in the State of Rhode Island, and in the Town of Charlestown, and the form of notification shall be notice stated with connected, together with a notice of the time and place of sale, and the description of the premises to be sold, in said newspaper; such sale to be upon the premises or elsewhere as specified in such notice; and the proceeds of such sale, after payment of all taxes, assessments, or other charges due to said mortgagors, (for that purpose by these presents duly authorized and appointed with full power and substitution) to make sale, and execute deeds of the premises or purchaser or purchasers at such sale or sales, good and sufficient deed or deeds of the premises to the purchaser or purchasers at such sale or sales, good and sufficient deed or deeds to retain all sums hereby secured, whether then payable or to become payable thereafter, or the part thereof remaining unpaid, together with the interest thereon, and all costs and expenses with all expenses incident to such sale or sales, and all counsel fees and other expenses, incurred in, or in any way connected with, the exercise or defense of these powers or with any

203 any proceeding or action concerning the enforcement thereof or of said note or of these presents, all taxes, water rates, assessments, insurance premiums and expenses of repairs, either heretofore paid by the said mortgagees or then remaining unpaid, rendering and paying the purlus of said purchase moneys, if any there be over and above the amounts and sums referred to in said note, and the costs of such sales, including reasonable attorney's fees for sales, expenses and charges, to the said mortgagees, their heirs, executors, administrators and assigns, who shall be entitled to the proceeds of such sales and to hold the same against the said mortgagees, their heirs, executors, administrators and assigns and all claims basing said premises said to be sold, or from me or my heirs etc. AND FURTHERMORE, the said mortgagees, for themselves and for their heirs, executors, administrators and assigns, for the consideration aforesaid and to further and secure the further security of the mortgage, do hereby covenant with the said mortgagees, its successors and assigns, that they and assigns, as follows: 1. To pay all indebtedness hereby secured in accordance with the tenor of said note or of these presents, all taxes of every nature levied or assessed, in respect to this mortgage or mortgage indebtedness, whether state taxes or local taxes, and all water rates, sewer charges, insurance premiums maintained upon said premises, and all water rates and other expenses hereby secured as herein provided. 2. To keep and maintain insurance against loss by fire and other hazards warranted by the mortgagees its successors and assigns upon the buildings upon said premises, payable in case of loss to said mortgagees, its successors and assigns, in such amount as may be determined, not less than twenty six hundred ($2600) Dollars and not less than the amount necessary to prevent the operation of insurance clauses limiting recovery to sixty per cent of the insurance in force, and to furnish evidence of insurance timely to the mortgagees, its successors and assigns, who are hereby authorized to effect such insurance through such brokers or agents as they believe may be safest, all insurance effected upon said buildings by the mortgagees, its successors and assigns, or any other person or persons, including the insurance maintained by the mortgagees, its successors and assigns, to be payable, and the policies to be delivered, to the said mortgagees, its successors and assigns, and the mortgagees, its successors and assigns, acting as trustee for the mortgagees its successors and assigns, and the mortgagees, its successors and assigns, acting as trustee for the mortgagees its successors and assigns, acting as trustee for the mortgagees its successors and assigns, acting as trustee for the mortgagees its successors and assigns, acting as trustee for the mortgagees its successors and assigns, acting as trustee for the mortgagees its successors and assigns, acting as trustee for the mortgagees its successors and assigns, acting as trustee for the mortgagees its successors and assigns, acting as trustee for the mortgagees its successors and assigns, acting as trustee for the mortgagees its successors and assigns, acting as trustee for the mortgagees its successors and assigns, acting as trustee for the mortgagees its successors and assigns, acting as trustee for the mortgagees its successors and assigns, acting as trustee for the mortgagees its successors and assigns, acting as 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and assigns, acting as trustee for the mortgagees its successors and assigns, acting as trustee for the mortgagees its successors and assigns, acting as trustee for the mortgagees its successors and assigns, acting as trustee for the mortgagees its successors and assigns, acting as trustee for the mortgagees its successors and assigns, acting as trustee for the mortgagees its successors and assigns, acting as trustee for the mortgagees its successors and assigns, acting as trustee for the mortgagees its successors and assigns, acting as trustee for the mortgagees its successors and assigns, acting as trustee for the mortgagees its successors and assigns, acting as trustee for the mortgagees its successors and assigns, acting as trustee for the mortgagees its successors and assigns, acting as trustee for the mortgagees its successors and assigns, acting as trustee for the mortgagees its successors and assigns, acting as trustee for the mortgagees its successors and assigns, acting as 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