4/1/1946 · MORTGAGE · book 29 page 688 doc 1242@29/688

688 KNOW ALL MEN by THESE PRESENTS: That I, Philip E. Starrett, of the Town of Charlestown, in the County of Washington and State of Rhode Island, (hereinafter called the mortgagor) in consideration of Five Thousand ($5,000.00) Dollars, to be made by INDUSTRIAL TRUST COMPANY, a corporation created by the General Assembly of the State of Rhode Island, and located and transacting business in the City and County of Providence, in said State, the receipt whereof is acknowledged, do hereby grant, bargain, sell and convey unto said Industrial Trust Company, its successors and assigns, forever: (Description of property) That certain tract of land, with all improvements thereon, situated in said Town of Charlestown, County of Washington, and State of Rhode Island, containing five (5) acres more or less, more or less, bounded northerly by the line now and lately of Emma A. Browning; easterly be- ing bounded northerly by land now and lately of A. Browning and now land now and lately of Lucy A. Walker; then easterly by the line now and lately of A. Browning and now land now and lately of Lucy A. Walker; then southerly by the line now and lately of W. Walker, and westerly by land now and lately of Frank W. Arnold. Being the same premises conveyed by deed of Caleb R. Nye to Edward S. Crumb, dated September 24, 1911, and recorded with the records of Land Evidence in the Town of Charlestown in land evidence book 169, page 142, and also being the same premises conveyed by deed of A. McColl conveyed transfer to Philip E. Starrett, this mortgagor, by deed dated September 29th 1934, recorded in land evidence book 221, page 111, in Charlestown land evidence book 221, page 111, to which records reference is hereby made as above. Excepting from this mortgage, however, that portion of the foregoing premises, which the mortgagor conveyed to Stanley Q. Brown and Madalin W. Brown, by deed dated December, 1939, and recorded in said Land Evidence Records, being bounded as follows: commencing at a drill hole in a drill hole in a stone bound set at the southeasterly corner of the hereby conveyed tract conveyed as shown on a map attached hereto said land thences running southeasterly one hundred (100) feet to the westerly line of a right of way hence continuing in the same straight line thirty-three and one thirty-third centimeters (11.1) north 45 degrees east of true north hence at an interior angle of 90 degrees east and running southeasterly along the line of said right of way to the point where said right of way line terminates in Town Street Cove westerly in Charlestown Town; thence in a general southeasterly direction following the shore of the ocean to a point where said line intersects the north- westerly line of the hereby conveyed tract; thence in a direct line turning and running in a northerly direction to a drill hole in a stone bound set at the north- bound set at the southeasterly corner of the hereby conveyed tract as made fully shown on a map attached hereto; thence continuing at an interior angle of 90 degrees and in a northeasterly direction three hundred fifty (350) feet to the East fence line of the hereby conveyed tract; bounding easterly bound- edly by the land of Philip E. Starrett, southeasterly by the land of George W. Hoile and the ocean front, southeasterly by the land of George Hoile front and southeasterly and northwesterly by other land of said Starrett, or otherwise however the same be bounded and described; reserving and excepting all of the rights, privileges, liens conditions and restrictions contained in said deed of Philip E. Starrett to Stanley Q. Brown and Madalin W. Brown, the same being hereby referred to and made a part of this description. Said mortgagor also conveys and includes in this conveyance to said In- dustrial Trust Company the right of way and easement appurtenant to the above described premises and the use thereof. By this mortgage by deed of the same, John R. Higgins, dated May 24th, 1940, and recorded in Book 26, pages 213, and 214, of said Charlestown land evidence records together with a plat of the same, which deed and plat are hereby referred to and made a part of these presents. Also all the furniture, furnishings and equipment in and appurtenant to the aforementioned premises, and all buildings and additions thereto and improvements therein maintained hereafter, with the Mortgagee to keep in said premises in a thoroughfare rentable condition for occupancy. TO HAVE AND TO HOLD the aforegranted premises, with their appurtenances, unto and to the use of said Industrial Trust Company, its successors and assigns forever. And the said mortgagor do hereby, for myself and for my heirs, executors, admin- istrators, successors and assigns, covenant with said Industrial Trust Company, its success- ors and assigns, that I am the lawfully seized in fee simple of the said granted premises; that the same are free from all encumbrances; that I have good right, full power and lawful author- ity to sell and convey the same in as manner as aforesaid; that said Industrial Trust Company, its successors and assigns, shall by these presents at all times hereafter peaceably have and enjoy the said premises; and that the said mortgagor will, and my heirs, executors, administrators, successors and assigns shall, warrant and defend the same to said Industrial Trust Company, its successors and assigns, forever, against the lawful claims and demands of all persons. And for the consideration aforesaid i, Amy W. Starrett, wife of the said mortgagor, Philip E. Starrett, do hereby release all right of dower and all other rights, statutory or otherwise, in and to the said granted premises unto said Industrial Trust Company, its

assigns, as follows: 1. To pay said promissory note and all sums of principal and interest due thereon in accordance with the tenor thereof, all taxes and assessments or other charges levied upon said premises and the full payment out of the charge of said note upon said premises or upon the mortgagees, its successors or assigns, in respect to this mortgage or mortgage indebtedness, whether imposed or to be imposed within the town of Charlestown, for insurance 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 by other such hazards casualties and contingencies, in such amounts, for such periods, in such form and in such companies as are competent and solvent, or other the holder of the mortgagees at any time from time to time specify, and to pay promptly when due all premiums thereon and to deliver the policies of insurance to the mortgagee in case of loss or to the mortgagees by clauses satisfactory to it and to deliver the policies of insurance to the mortgagee or the holder of the mortgagee for the holder of this mortgage may be hereby constituted, and appointed as trustee for the benefit of the mortgagee or the holder of the mortgage to adjust, sue for, compromise and collect any and all losses which may occur under such policies, and to apply all money so recovered or all money recovered by settlement of such losses, and to apply the same, after deducting any expenses incurred in connection therewith, ought to the indebtedness hereby secured, whether or not then due and payable, and to apply any remaining sums, insurance proceeds or other sums paid by the mortgagee, or to the cost of rebuilding or repairing the damage to said premises, and to execute and deliver any and all deeds, releases, discharges or other conveyances to transfer the title of the mortgage premises satisfaction in the indebtedness hereby secured, and to execute and deliver any and all assignments of the interest of the mortgagor in and to any insurance policies, or to any refunds or returns of premiums paid, and to execute and deliver any and all receipts to the mortgagee the mortgagor may surrender said policies and collect any sums due thereon, or at its may be entitled to recover under said policies, and to apply said money or to proceed therefore to purchase any of the mortgaged property, provided that any amount so recovered or any other sums paid by the mortgagee shall first be applied on account of the indebtedness hereby secured and any surplus paid over to the premises, and that the mortgagee shall be entitled to prefer insurance or pay the premiums thereon, so no paid premium shall be a part of the indebtedness secured hereby, and shall be interest thereon shall be provided upon the indebtedness secured hereby until payment thereof. 3. To keep and maintain the exterior and interior of the buildings and improvements and premises described in this mortgage at all times until full payment and discharge and deliver in good and reasonable condition as the same now are the mortgagor and the mortgagor shall permit the Industrial Trust Company, its successors and assigns, and its officers and their agents, servants, to enter upon the mortgage premises at any reasonable time for the purpose to inspect the same. 4. That the mortgagee, its successors and assigns, may pay all taxes, assessments, water rates or insurance premiums not paid by the mortgagor when due, and all or any such sums so paid shall bear interest at the rate of 6% per annum from the date of payment until paid principal of the indebtedness hereby secured and shall bear interest at the same rate as the promissory note until paid, and that such interest shall be a first and further lien upon the premises and secured by these presents. 5. That if the mortgagor be declared bankrupt or insolvent or make an assignment for his benefit or for the benefit of any creditor or be placed under control of, or in custody of any court, or if the mortgagor shall fail to perform any of the covenants herein contained, or the mortgage be altered without authorization and empowered at its option, without notice and witness thereof, the mortgagee may declare the entire amount of said note and all of the mortgage the mortgagees hereunder to declare all sums secured hereby immediately due and payable. IN WITNESS WHEREOF, the said parties have hereunto set their hands and seals this 29th day of March, A. D. one thousand nine hundred and forty-six. Signed, sealed and delivered { in presence of { { { PHILIP E. STARRETT AMY W. STARRETT STATE OF RHODE ISLAND, } County of Washington } In Westerly, on the 29th day of March, A. D. 1946, before me personally appeared the above named Philip E. Starrett and Amy W. Starrett, his wife, each and all to me known and known by me to be the parties and the Parties executing the foregoing instrument, and severally acknowledged said instrument, by them executed, to be their free act and deed. HIRAM KENDALL (Notarial Seal) Notary Public Received for record April 1st, A. D. 1946 at 9:10 o'clock a. m., and recorded by [Signature] Town Clerk [Signature] Town Clerk