1/20/1947 · MORTGAGE · book 30 page 295 doc 1531@30/295

PROVIDED, NEVERTHELESS, that if the said mortgagors, or their heirs, executors, administrators, or assigns, shall fail to pay the Industrial Trust Company, its successors or assigns the principal sum and interest of a certain promissory note of the mortgagors of the same date herewith, and bearing the serial number hereof, in accordance with the terms and conditions thereof, and the said Industrial Trust Company, its successors or assigns, shall not have received the sums payment of which are hereby required or secured, and as seen that the same become due and payable, the said promissory note, and the said mortgage, and the said indenture, as provided herein, and the note above mentioned, then this deed, as also said promissory note, shall become and be absolutely void to all intents and purposes whatsoever. BUT if the mortgagors shall fail to pay the said sum or sums of money or said interest or of the taxes, assessments, insurance premiums or any other sum or any part thereof, at the time or times when the payment of which is hereby required or secured, or of any part thereof, at the time or times when due, or if breach shall happen of any of the covenants hereon, or of the condition of said note and this mortgage, then it shall be lawful for said Industrial Trust Company, its successors or assigns, to take possession of the premises hereby mortgaged, and to sell the same, and the benefit and equity of redemption of the said mortgagors, their heirs, executors, administrators, or assigns, and the said Industrial Trust Company, its successors or assigns, to grant, or be granted, any part or parts thereof, in the name of the said mortgagors, their heirs, executors, administrators, or assigns, at public auction, and to bid for and become the purchaser at any such sale, and to apply the proceeds of such sale, less the costs of the sale, to the payment of the principal sum, giving notice of the time and place of sale by publishing the same at least one week once for three weeks next preceding such sale in a newspaper of general circulation in said town, or in adjunct journals, at least one such week in the same newspaper; such sale to be upon the premises or elsewhere in said town, and the said Industrial Trust Company, its successors or assigns, or their attorney or attorneys of the said mortgagors and of the said Josephine Capalbo, for the further purpose of selling the premises, is hereby appointed as attorney in fact, with full power of substitution and revocation to make, execute and deliver to the purchaser or purchasers at any such sale, a deed in the name of the said mortgagors, their heirs, executors, administrators, or assigns, of the premises or deeds, in fee simple, of the premises sold; and to receive the purchase money and tender the same to the said Industrial Trust Company, its successors or assigns, when then due or then due for all thereafter, or the part thereof then remaining unpaid, and also the interest thereon, and any taxes, assessments, insurance premiums or other sums due or paid on said premises, or other expenses or incurred in any way connected with the exercise of the powers hereby granted, and to apply the same to the payment of the principal sum, and the interest on the same, and of the presents, this and all assessments, insurance premiums and expenses of repairs, either unpaid or paid by the said Industrial Trust Company, its successors or assigns, and to apply the same to the payment of the principal sum, and the interest on the same, and any part thereof then remaining unpaid, or rendering and paying the surplus of said purchase moneys, if any there be, to the said mortgagors, their heirs, executors, administrators, or assigns, and said Industrial Trust Company, its successors or assigns, shall forever warrant the title, and shall forever covenant and agree to warrant the title both in law and in equity against the said mortgagors, and the said Josephine Capalbo their heirs, executors, administrators, or assigns, and all persons claiming said premises sold or claiming the same, by or from under them or any of them. And the said mortgagors, for themselves and for their heirs, executors, administrators, and assigns, hereby covenant with the said Industrial Trust Company, its successors and assigns, hereby covenant with the said Industrial Trust Company, its successors and assigns, hereby covenant with the said Industrial Trust Company, its successors and assigns, hereby covenant with the said Industrial Trust Company, its successors and assigns, to execute any conveyance of real or personal property contrary to any use or sales as may be necessarily or requested or necessitated. And FURTHERMORE, the said mortgagors, for themselves and for their heirs, executors, administrators, and assigns, in consideration aforesaid and to further increase the security of this mortgage, do hereby covenant and agree to and with the said mortgagee, its successors and assigns, as follows: 1. To pay the said promissory note and all sums of principal and interest due thereon in accordance with the tenor thereof, that all taxes, assessments of any nature levied or assessed against the premises hereby mortgaged, and all insurance premiums on said premises or premises upon which the mortgage, its successors or assigns, in respect to this mortgage or mortgage, is or may be insured, or insured under any present or future law, all premiums for insurance maintained upon said premises, and all other sums due and other expenses hereby secured as herein provided. 2. To insure the premises against loss by fire and by all such other hazards, casualties and contingencies, in such amounts, for such periods, in such form and in such company or companies as the mortgagee or other the holder of the mortgage may require, and to pay the premiums on such insurance, to pay promptly each and every one of the premiums on such insurance; to make all policies of insurance payable in case of loss to the mortgagee, or to any other person or persons as may be designated from time to time by said mortgagee; and said Industrial Trust Company or other the holder of this mortgage for the time being, is hereby appointed as attorney in fact, with full power of substitution and attorney irrevocable of the mortgagors to demand, adjust, sue for, compromise and collect all losses and damages, and to make all adjustments for loss and insurance, and to agree to releases for any and all sums received in settlement of such losses, and to apply the same to the payment of the principal sum, and the interest on the same, and any taxes, assessments hereby secured, whether or not then due, or in reimbursement for any taxes, assessments or insurance premiums paid by the mortgagee, or to the cost of reconstruction or replacing the damaged buildings or improvements, in full, or to the title of the premises mortgaged in its satisfaction of the indebtedness, or any part thereof, and to collect any refund or return of premiums or dividends on the said insurance, or to any insurance policies, or to any refund or return of premiums or dividends on the said insurance, or to any insurance policies, or to any surrender policies the said mortgagee provides; and collect any sums due thereon, or may, at its option, transfer its right, title and interest in and to any such insurance policies to the said mortgagors, or to the survivor of the mortgaged property; provided that any sums so received on any policies may be applied by the mortgagee to the payment of the principal sum, and the interest on the same, and any surplus paid over as a surplus on any foreclosure. If the mortgagors fail to pay the premiums on such insurance, the mortgagee may do so for the purpose of keeping the premises insured or pay the premiums thereon, and all premiums so paid shall become a part of the principal indebtedness hereon, and shall bear interest at the rate provided upon the principal indebtedness until payment thereof. 3. To keep and maintain the exterior and interior of the buildings and improvements on the premises in good condition to the satisfaction of the mortgagee at all times until full payment and discharge hereof in as good condition as repaired and maintained, and further agree not to permit said Industrial Trust Company, its successors and assigns, and its trustees and their of office, to enter upon and inspect the premises and the said mortgage premises at all reasonable times to view and inspect the same. 4. That the mortgagee, its successors and assigns, pay taxes, assessments and insurance rates and premiums paid by the mortgagors when due, and of all such sums shall be immediately repaid and until repaid shall be added to the unpaid principal of

the indebtedness hereby secured and shall bear interest at the same rate as said indebtedness until paid and together with such interest shall be a further lien upon the premises and secured by these presents. 5. That if the mortgagors be declared bankrupt or insolvent or make an assignment for the benefit of any creditor or be placed under control of or under control of in custody of any court, or if the mortgagors shall fail to pay any of the in any of said events the mortgagee is hereby authorized and empowered at its option without notice and without presentment to declare the entire unpaid balance of the lien or any right of the mortgagee hereunder to declare all sums secured hereby imme- diately due and payable. IN WITNESS WHEREOF, the said mortgagors and Josephine H. Capalbo, have hereunto set their hands and seals this 20th day of January, A. D. one thousand nine hundred forty-seven. Signed, sealed and delivered { SYLVESTER J. CAPALBO (SEAL) in presence of { FRANK J. CAPALBO (SEAL) Harold B. Soloveitzik as to all } RUTH B. CAPALBO (SEAL) JOSEPHINE H. CAPALBO (SEAL) STATE OF RHODE ISLAND, ) } SC. County of Washington } In Westerly, on the 20th day of January, A. D. 1947, before me personally appeared the above named Sylvester J. Capalbo and Ruth B. Capalbo, husband and wife, and Frank J. Capalbo and Josephine H. Capalbo, husband and wife, each and all to me known and by me to be the parties executing the foregoing instrument, and severally acknowledged said instrument, by them executed, to be their free act and deed. HAROLD B. SOLOVEITZIK Notary Public. Received for record January 20th, A. D. 1947 at 11:05 o'clock, a. m., and recorded by [Signature] Town Clerk INDUSTRIAL NATIONAL BANK of Providence, having received full payment and satisfaction of the within mortgage, does hereby cancel and discharge the same. IN TESTIMONY WHEREOF, said Company has caused these Presents to be signed and its Corporate Seal to be hereunto affixed by its proper officers duly authorized, this 29th day of June A. D. 1955. Signed and Sealed in presence of Ethel S. Sidebottom { INDUSTRIAL NATIONAL BANK of Providence (Corporate Seal) By Hiram Kendall Fred Rayner Asst. Manager Received for record July 1st, A. D. 1955 at 9:00 o'clock, a. m., and recorded by [Signature] Town Clerk

the indebtedness hereby secured and shall bear interest at the same rate as said indebtedness until paid and together with such interest shall be a further lien upon the premises and secured by these presents. 5. That if the mortgagors be declared bankrupt or insolvent or make an assignment for the benefit of any creditor or be placed under control of or under control of our in custody of any court, or if the premises shall be sold by the order of said court, or in any of said events the mortgagee is hereby authorized and empowered at its option without notice and without recourse to any court of law to declare the whole sum due lien or any right of the mortgagee hereunder to declare all sums secured hereby imme- diately due and payable. IN WITNESS WHEREOF, the said mortgagors and Josephine H. Capalbo, have hereunto set their hands and seals this 20th day of January, A. D. one thousand nine hundred forty-seven. Signed, sealed and delivered { SYLVESTER J. CAPALBO (SEAL) in presence of { FRANK J. CAPALBO (SEAL) Harold B. Soloveitzik as to all } RUTH B. CAPALBO (SEAL) { JOSEPHINE H. CAPALBO (SEAL) STATE OF RHODE ISLAND, ) { SC. County of Washington } In Westerly, on the 20th day of January, A. D. 1947, before me personally appeared the above named Sylvester J. Capalbo and Ruth B. Capalbo, husband and wife, and Frank J. Capalbo and Josephine H. Capalbo, husband and wife, each and all to me known and by me to be the parties executing the foregoing instrument, and severally acknowledged said instrument, by them executed, to be their free act and deed. HAROLD B. SOLOVEITZIK Notary Public. Received for record January 20th, A. D. 1947 at 11:05 o'clock, a. m., and recorded by [Signature] Town Clerk ---- INDUSTRIAL NATIONAL BANK of Providence, having received full payment and satisfaction of the within mortgage, does hereby cancel and discharge the same. IN TESTIMONY WHEREOF, said Company has caused these Presents to be signed and its Corporate Seal to be hereunto affixed by its proper officers duly authorized, this 29th day of June A. D. 1955. Signed and Sealed in presence of Ethel S. Sidebottom { INDUSTRIAL NATIONAL BANK of Providence (Corporate Seal) By Hiram Kendall Fred Rayner Asst. Manager Received for record July 1st, A. D. 1955 at 9:00 o'clock, a. m., and recorded by [Signature] Town Clerk

the indebtedness hereby secured and shall bear interest at the same rate as said indebtedness until paid and together with such interest shall be a further lien upon the premises and secured by these presents. 5. That if the mortgagors be declared bankrupt or insolvent or make an assignment for the benefit of any creditor or be placed under control of or under control of in custody of any court, or if the premises shall be taken over or said assignment or in any of said events the mortgagee is hereby authorized and empowered at its option without notice and without suit to declare the entire indebtedness now stated or the lien or any right of the mortgagee hereunder to declare all sums secured hereby imme- diately due and payable. IN WITNESS WHEREOF, the said mortgagors and Josephine H. Capalbo, have hereunto set their hands and seals this 20th day of January, A. D. one thousand nine hundred forty-seven. Signed, sealed and delivered { SYLVESTER J. CAPALBO (SEAL) in presence of { FRANK J. CAPALBO (SEAL) Harold B. Soloveitzik as to all } RUTH B. CAPALBO (SEAL) JOSEPHINE H. CAPALBO (SEAL) STATE OF RHODE ISLAND, ) } SC. County of Washington } In Westerly, on the 20th day of January, A. D. 1947, before me personally appeared the above named Sylvester J. Capalbo and Ruth B. Capalbo, husband and wife, and Frank J. Capalbo and Josephine H. Capalbo, husband and wife, each and all to me known and by me to be the parties executing the foregoing instrument, and severally acknowledged said instrument, by them executed, to be their free act and deed. HAROLD B. SOLOVEITZIK Notary Public. Received for record January 20th, A. D. 1947 at 11:05 o'clock, a. m., and recorded by [Signature] Town Clerk INDUSTRIAL NATIONAL BANK of Providence, having received full payment and satisfaction of the within mortgage, does hereby cancel and discharge the same. IN TESTIMONY WHEREOF, said Company has caused these Presents to be signed and its Corporate Seal to be hereunto affixed by its proper officers duly authorized, this 29th day of June A. D. 1955. Signed and Sealed in presence of Ethel S. Sidebottom { INDUSTRIAL NATIONAL BANK of Providence (Corporate Seal) By Hiram Kendall Fred Rayner Asst. Manager Received for record July 1st, A. D. 1955 at 9:00 o'clock, a. m., and recorded by [Signature] Town Clerk

the indebtedness hereby secured and shall bear interest at the same rate as said indebtedness until paid and together with such interest shall be a further lien upon the premises and secured by these presents. 5. That if the mortgagors be declared bankrupt or insolvent or make an assignment for the benefit of any creditor or be placed under control of or under control of our in custody of any court, or if any receiver be appointed for or said mortgagors or in any of said events the mortgagee is hereby authorized and empowered at its option without notice and without recourse to any court of law to declare the whole lien or any part of the mortgage hereunder to declare all sums secured hereby imme- diately due and payable. IN WITNESS WHEREOF, the said mortgagors and Josephine H. Capalbo, have hereunto set their hands and seals this 20th day of January, A. D. one thousand nine hundred forty-seven. Signed, sealed and delivered { SYLVESTER J. CAPALBO (SEAL) in presence of { FRANK J. CAPALBO (SEAL) Harold B. Soloveitzik as to all } RUTH B. CAPALBO (SEAL) { JOSEPHINE H. CAPALBO (SEAL) STATE OF RHODE ISLAND, ) } SC. County of Washington } In Westerly, on the 20th day of January, A. D. 1947, before me personally appeared the above named Sylvester J. Capalbo and Ruth B. Capalbo, husband and wife, and Frank J. Capalbo and Josephine H. Capalbo, husband and wife, each and all to me known and by me to be the parties executing the foregoing instrument, and severally acknowledged said instrument, by them executed, to be their free act and deed. HAROLD B. SOLOVEITZIK Notary Public. Received for record January 20th, A. D. 1947 at 11:05 o'clock, a. m., and recorded by [Signature] Town Clerk ---- INDUSTRIAL NATIONAL BANK of Providence, having received full payment and satisfaction of the within mortgage, does hereby cancel and discharge the same. IN TESTIMONY WHEREOF, said Company has caused these Presents to be signed and its Corporate Seal to be hereunto affixed by its proper officers duly authorized, this 29th day of June A. D. 1955. Signed and Sealed in presence of Ethel S. Sidebottom { INDUSTRIAL NATIONAL BANK of Providence (Corporate Seal) By Hiram Kendall Fred Rayner Asst. Manager Received for record July 1st, A. D. 1955 at 9:00 o'clock, a. m., and recorded by [Signature] Town Clerk

the indebtedness hereby secured and shall bear interest at the same rate as said indebtedness until paid and together with such interest shall be a further lien upon the premises and secured by these presents. 5. That if the mortgagors be declared bankrupt or insolvent or make an assignment for the benefit of any creditor or be placed under control of or under control of in custody of any court, or if the premises shall be taken over or said assignment in any of said events the mortgagee is hereby authorized and empowered at its option without notice and without suit to declare the entire unpaid balance of the lien or any rate of the mortgage hereunder to declare all sums secured hereby imme- diately due and payable. IN WITNESS WHEREOF, the said mortgagors and Josephine H. Capalbo, have hereunto set their hands and seals this 20th day of January, A. D. one thousand nine hundred forty-seven. Signed, sealed and delivered { SYLVESTER J. CAPALBO (SEAL) in presence of { FRANK J. CAPALBO (SEAL) Harold B. Soloveitzik as to all } RUTH B. CAPALBO (SEAL) JOSEPHINE H. CAPALBO (SEAL) STATE OF RHODE ISLAND, ) } SC. County of Washington } In Westerly, on the 20th day of January, A. D. 1947, before me personally appeared the above named Sylvester J. Capalbo and Ruth B. Capalbo, husband and wife, and Frank J. Capalbo and Josephine H. Capalbo, husband and wife, each and all to me known and by me to be the parties executing the foregoing instrument, and severally acknowledged said instrument, by them executed, to be their free act and deed. HAROLD B. SOLOVEITZIK Notary Public. Received for record January 20th, A. D. 1947 at 11:05 o'clock, a. m., and recorded by [Signature] Town Clerk ---- INDUSTRIAL NATIONAL BANK of Providence, having received full payment and satisfaction of the within mortgage, does hereby cancel and discharge the same. IN TESTIMONY WHEREOF, said Company has caused these Presents to be signed and its Corporate Seal to be hereunto affixed by its proper officers duly authorized, this 29th day of June A. D. 1955. Signed and Sealed in presence of Ethel S. Sidebottom { INDUSTRIAL NATIONAL BANK of Providence (Corporate Seal) By Hiram Kendall Fred Rayner Asst. Manager Received for record July 1st, A. D. 1955 at 9:00 o'clock, a. m., and recorded by [Signature] Town Clerk

the indebtedness hereby secured and shall bear interest at the same rate as said indebtedness until paid and together with such interest shall be a further lien upon the premises and secured by these presents. 5. That if the mortgagors be declared bankrupt or insolvent or make an assignment for the benefit of any creditor or be placed under control of or under control of in custody of any court, or if the premises shall be conveyed or sold and in any of said events the mortgagee is hereby authorized and empowered at its option without notice and without recourse to any court of law, to declare the lien or any right of the mortgagee hereunder to declare all sums secured hereby imme- diately due and payable. IN WITNESS WHEREOF, the said mortgagors and Josephine H. Capalbo, have hereunto set their hands and seals this 20th day of January, A. D. one thousand nine hundred forty-seven. Signed, sealed and delivered { SYLVESTER J. CAPALBO (SEAL) in presence of { FRANK J. CAPALBO (SEAL) Harold B. Soloveitzik as to all } RUTH B. CAPALBO (SEAL) { JOSEPHINE H. CAPALBO (SEAL) STATE OF RHODE ISLAND, } } SC. County of Washington } In Westerly, on the 20th day of January, A. D. 1947, before me personally appeared the above named Sylvester J. Capalbo and Ruth B. Capalbo, husband and wife, and Frank J. Capalbo and Josephine H. Capalbo, husband and wife, each and all to me known and by me to be the parties executing the foregoing instrument, and severally acknowledged said instrument, by them executed, to be their free act and deed. HAROLD B. SOLOVEITZIK Notary Public. Received for record January 20th, A. D. 1947 at 11:05 o'clock, a. m., and recorded by [Signature] Town Clerk ---- INDUSTRIAL NATIONAL BANK of Providence, having received full payment and satisfaction of the within mortgage, does hereby cancel and discharge the same. IN TESTIMONY WHEREOF, said Company has caused these Presents to be signed and its Corporate Seal to be hereunto affixed by its proper officers duly authorized, this 29th day of June A. D. 1955. Signed and Sealed in presence of Ethel S. Sidebottom { INDUSTRIAL NATIONAL BANK of Providence (Corporate Seal) By Hiram Kendall Fred Rayner Asst. Manager Received for record July 1st, A. D. 1955 at 9:00 o'clock, a. m., and recorded by [Signature] Town Clerk