8/19/1938 · MORTGAGE · book 27 page 384 doc 170@27/384

384 MORTGAGE KNOW ALL MEN BY THESE PRESENTS: That we, ERNEST L. SPERRY and wife, DOROTHY H. SPERRY, of Charlestown, County of Providence and State of Rhode Island hereinafter called the Mortgagor, in consideration of the sum of ONE THOUSAND DOLLARS ($1,000.00) to us paid by TELEPHONE WORKERS BUILDING AND LOAN ASSOCIATION, a corporation organized and existing under the laws of the State of Rhode Island, hereinafter called the Mortgagee, the receipt whereof is hereby acknowledged, do hereby give, grant, bargain, sell, convey and surety unto the Mortgagee, its successors and assigns forever, all that certain real estate situated in Charlestown, County of Washington and State of Rhode Island, described as follows: Those certain lots or parcels of land located in the Town of Charlestown, County of Washington and State of Rhode Island, laid out and designated as Lot numbers 641, 644 and 645 appearing on the Map of the land belonging to the Sen. Hawes, Charlestown, Rhode Island, owned and conveyed to Thompson F. Reilly, sailed by the deed dated March 21, 1934, recorded in Book 24, Page 111, from Sarah Haven, Connecticut" and filed in the office of the Town Clerk in said Charlestown. Said lots are bounded as follows: Bounded southerly, by Lot number 642 as shown on said Map 100 feet, more or less; easterly by Lot number 644 as shown on said Map 100 feet, more or less; northerly east by Lot number 643 as shown on said Map 100 feet, more or less; northerly west by Lot numbers 653, 654, 655, 656 as shown on said Map 100 feet, more or less; westerly by Lot number 640 as shown on said Map 100 feet, more or less. This conveyance is made subject to restrictions contained on said Map. including all buildings and improvements thereon, or that may hereafter be granted or erected thereon, together with all the rights, easements, hereditaments, appurtenances, and all other rights thereunto belonging or in anywise now or hereafter appertaining, and the reversion and reversions, remainders and remainders, rents, issues and profits thereof, and all plumbing, heating, and lighting fixtures and all other fixtures and equipment now or hereafter attached to, or used in connection with said premises. TO HAVE AND TO HOLD the aforementioned premises, with their appurtenances, unto and to the use of the Mortgagee, its successors and assigns, forever. And the Mortgagors covenant that they are lawfully seized of the said premises in fee simple; that they are free and clear from all encumbrances except as aforesaid; that they have good right, full power and lawful authority to sell and convey the same in the manner aforesaid; that they will warrant and defend the same to the Mortgagee, its successors and assigns forever against the lawful claims and demands of all persons. And for the consideration aforesaid, we Ernest L. Sperry and wife Dorothy H. Sperry do hereby release all our respective rights of curtesy and dower unto the Mortgagee, its successors and assigns, forever. PROVIDED, NEVERTHELESS, that this conveyance is made upon the express condition that if the Mortgagor shall pay to the Mortgagee the principal sum of One Thousand (1000) Dollars as evidenced by a promissory note of even date herewith, the terms of which are incorporated herein by reference, together with interest thereon at the rate of six (6) per centum per annum until paid, principal and interest being payable at the office of said Telephone Workers Building and Loan Association in monthly installments of Twelve and 57/100 Dollars ($12.57) commencing on the last business day of August 1938, and on the last business day of each month thereafter until the principal and interest are fully paid; and shall fully perform all the terms, conditions and covenants of this mortgage as well as the note secured hereby, then this instrument as well as the note secured hereby shall be void. The Mortgagors further covenant as follows: 1. That, together with and in addition to the monthly payments of principal and interest payable under the terms of the note secured hereby, they will pay to the Mortgagee on the last business day of each month until said note is fully paid the following sums: (a) As installment of the taxes, water bills and special assessments levied against the premises covered by this mortgage; and an installment of the premium or premiums that will become due and payable, or some such sum on the premises covered hereby, as may be from time to time required or as may be reasonably requested by the Mortgagee in amounts and in a company

or companies satisfactory to the Mortgagee. The installments shall be equal respectively to the estimated premiums for fire insurance, water bills, taxes and assessments annually due (as estimated by the Mortgagee), less all installments already paid therefore, divided by the number of months that are due in advance for such premiums, taxes and assessments, and as such premiums and taxes and assessments will become due. The Mortgagees shall apply all these monthly payments to the payment of such premiums, water bills, taxes and when such insurance premiums, water bills, taxes and assessments become due, the Mortgagee will pay the same and will charge the principal mortgage balance with such payments made. (b) All payments mentioned in the above paragraph and subsection thereof, and all payments to be made under the note secured hereby, shall be added together and the aggregate sum shall be paid monthly to the Mortgagee, and the Mortgagee shall single payment to be applied by the Mortgagee to the following items in the order herein set forth: (i) Interest on the note secured hereby (ii) Amortization of the principal of said note. Any deficiency in the amount of such aggregate monthly payment shall, unless made good by the Mortgagors prior to the due date of the next such payment, be added to the principal of said note. 2. If the total of the payments made by the Mortgagees under the (a) of paragraph 1 preceding shall exceed the amount of payments actually made by the Mortgagees for taxes or assess- ments or insurance premiums, the excess of such payments shall be credited by the Mortgagees to the mortgage balance. If the monthly payments made by the Mortgagees under (a) of paragraph 1 preceding shall not be sufficient to pay taxes and assessments and insurance premiums, when the taxes and assessments and insurance premiums become due, the Mortgagors may make any necessary amount to make up the deficiency, on or before the date when payment of such taxes and assessments and insurance premiums become due. 3. That they will pay all taxes, assessments, water rates, and other governmental or munici- pal charges, fines or impositions, for which properties has not been made heretofore, and in default thereof the Mortgagee may pay the same, and all sums so advanced shall become part of the principal of the mortgage debt, bearing interest thereon, and they will deliver the receipts therefore to the Mortgagees. 4. That they will keep the premises as good and condition as the premises now are, and will not permit or cause any part of the premises to be waste, reasonably wear and tear excepted. 5. That any policies of insurance on the premises herein conveyed shall be assigned and transferred, or made payable in case of loss, to the Mortgagees, as additional security herefor. If the Mortgagors shall fail to procure and maintain insurance as provided for in subsection (a) of paragraph 1 preceding, the Mortgagees may effect such insurance and all sums paid therefore shall be added to the rate of 6% per centum (6%) per annum from the date of payment, and shall be secured hereby. If the premises, or any part thereof, shall be damaged or destroyed by fire or other hazard against which insurance was required to be maintained, the Mortgagees may apply any money received from the contract of insurance such, to the extent of the indebtedness then remaining unpaid, be paid to the Mortgagees in reduction of the principal of the mortgage debt, or used for the repairing or rebuilding of the premises. If there shall be a default in any of the terms, conditions or covenants of this mort- gage or any other note paid by the Mortgagors, it shall be lawful for the Mortgagees, its successors or assigns, to sell, together or, in parcels, all or singular the premises hereby mortgaged, and any note paid by the Mortgagors, and to apply the proceeds of such sale in equity and redemption of the said Mortgagors, and their heirs, executors, administrators and assigns, and to apply the balance of the proceeds of such sale, if any, to pay the purchaser or purchasers at any such sale (and no other purchaser or purchasers shall be responsible for, any deficiency in the price paid by the purchaser or purchasers at of the time and place of sale by public auction at least once a week for three consecutive weeks, at the town hall of Charlestown, Rhode Island, or at some other place, to adjourn such sale from time to time, providing that the publication of the notices shall be continued, together with a notice of the adjournments or adjournments, at least once each week, in the same manner as aforesaid. The Mortgagees, or their successors or assigns, or any attorney or attorneys of the Mortgagees (for that purpose duly authorized and appointed) may conduct such sale, and may bid and buy at such sale, and may cause the deliver to the purchaser or purchasers at such sale or sales, assigned and sufficient deed or deeds of conveyance, and from such proceeds to realize all sums hereby secured, whether then due, or then due thereafter, or the cost of such sale or sales, and any other expenses incurred there- don due, with the expenses incident to such sale or sales, and for making deeds of conveyance, and the balance of the proceeds of such sale or sales, after payment of the expenses in the exercise of said sales and all taxes, assessments and premiums for insurance, if any, shall be paid to the Mortgagors, and their heirs, executors, administrators and assigns. The premises remaining, and any surplus of the proceeds of such sale or sales, if any there be, over and above the principal of the mortgage debt, and interest thereon, and any other sums account of such sale or sales, expenses and charges, to the Mortgagees, which sale or sales are voided, the Mortgagees, or their successors or assigns, shall have a lien in equity against the said Mortgagors, their heirs, executors, administrators and assigns and all persons claiming said demise. And the mortgagor hereby further covenant that they will not, without request, express consent due and deed confirmation of such sale or sales as may be required. Notice of the exercises of any option granted herein, or in the note secured hereby is not required to be given. The covenants herein contained shall bind, and the benefits and advan- tages shall inure to, the respective heirs, executors, administrators, successors and assigns of the parties hereto. Whenever used, the singular number shall include the plural, the plural the singular, and the use of any gender shall be applicable to all genders.

386 WITNESS the hands and seals of the Mortgagors this 19th day of August, 1938. Signed, sealed and delivered in presence of FRANCIS X. LAFRANCE as to both signatures. ERNEST L. SPERRY (SEAL) DOROTHY H. SPERRY (SEAL) STATE OF RHODE ISLAND County of Providence In Providence on the 19th day of August A. D. 1938 before me personally appeared Ernest L. Sperry and Dorothy H. Sperry to me known and known by me to be the parties executing the foregoing instrument, and they acknowledged said instrument, by them executed, to be their free act and deed. FRANCIS X. LAFRANCE Notary Public. Received for record August 19th, A. D. 1938 at 1:40 o'clock, p. m., and recorded by [Signature] Town Clerk Telephone Workers Building and Loan Association, having received full payment and satisfaction of the within mortgage recorded in the records of land evidence in the Town of Charlestown, State of Rhode Island, in Real Estate Mortgage Book Number 27 at pages 384-385-386, does hereby cancel and discharge the same, and the property hereby grantor to and with the person making said payment, that it is the present owner of said mortgage. IN WITNESS WHEREOF said Telephone Workers Building and Loan Association has caused these presents to be executed and its corporate seal to be hereunto affixed in its name and on its behalf by W. A. Hopkins, its President, theretounto duly authorized this tenth day of October, A. D. 1945. In Presence of E. L. Thorensen TELEPHONE WORKERS BUILDING AND LOAN ASSOCIATION By W. A. Hopkins President (Corporate Seal) Received for record October 11th, A. D. 1945 at 1:00 o'clock, P. M., and recorded by [Signature] Town Clerk