1/9/1948 · MORTGAGE · book 30 page 636 doc 1842@30/636

636 KNOW ALL MEN BY THESE PRESENTS: That We, Thomas E. Prescott and Mabel E. Prescott, husband and wife, of Clifton, New Jersey, (hereinafter called the mortgagors) in consideration of Eight Thousand ($8,000.00) Dollars, to us paid by INDUSTRIAL TRUST CO, a corporation created by the General Assembly of the State of Rhode Island, located and transacting business in the City and County of Providence, in said State, the receipt whereof we acknowledge, do hereby grant, bargain, sell and convey unto said Industrial Trust Company, its successors and assigns, forever. (Description of property) That certain true, plot or parcel of land, with the buildings and improvements thereon, situated on the east side of Midland Road and the west side of Highland Road, so-called, at Quonochontaug Beach, so-called, in the Town of Charlestown, County of Washington in said State of Rhode Island, bounded and described as follows:— Being Lots #290, 291, 292, 294, 295, 296, 298 and 299 and to that certain lot entitled "The Highlands" accompanying Highlands at Quonochontaug Beach, Rhode Island, property of S. S. Davis, Leon L. Sola plat, being duly filed in the Land Evidence Records of said Town of Charlestown, thus being the same lots and parcels conveyed to these Mortgagors by deeds from Charlestown States, Inc., recorded in Book 28, page 368, Book 29, page 301, Book 30, page 610 and Book 30, page 615, and also by deed from William H. Brittain Etc recorded in Book 29, page 619 of the Land Evidence Records of said Town of Charlestown, reference said deeds being hereunto set forth and made the same and the same are made a part of the presents thus:— Together with the right of way to the beach and subject to the building restrictions mentioned in said deeds. TO HAVE AND TO HOLD the aforementioned premises, with their appurtenances, unto and to the use of said Industrial Trust Company, its successors and assigns forever. And the said mortgagors do hereby, for themselves and for their heirs, executors, administrators, and assigns, covenant with said Industrial Trust Company, its successors and assigns, that they are lawfully seized in fee simple of the said granted premises; that the same are free 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 as aforesaid; that said Industrial Trust Company, its successors and assigns, shall by these presents at all times peaceably have and enjoy the said premises; and that the said mortgagors will, and their heirs, executors, administrators, 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, we, Thomas E. Prescott and Mabel E. Prescott husband and wife, do hereby release all of our right of curtesy and dower, respectively, and all other rights, statutory or otherwise, in and to the said granted premises unto said Industrial Trust Company, its successors or assigns, forever. PROVIDED, NEVERTHELESS, that if the said mortgagors, or their heirs, executors, administrators, or assigns, shall pay unto said Industrial Trust Company, its successors or assigns, the principal and interest of a certain promissory note of the mortgagors of even date herewith, and bearing the serial number herbefore, in accordance with the terms and conditions thereof, and shall also pay all taxes, assessments, insurance premiums and other sums, the payment of which are hereby required or secured, as and when the same become due and payable, and shall perform all other covenant and conditions as provided herein or in 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 DEFAULT shall be made in the payment of said sums or of said interest or of the taxes, assessments, insurance premiums or any other sum of money the payment of which is hereby or by said note required or secured, or of any part thereof, at the time or times when due, or if breach shall be made of any term, covenant or condition of said note or of this mortgage, then it shall be lawful for said Industrial Trust Company, its successors or assigns, to sell, together or in parcels, all and singular the premises hereby granted or