2/19/1948 · MORTGAGE · book 30 page 656 doc 1864@30/656

656 KNOW ALL MEN BY THESE PRESENTS: That we, George G. Hathaway and Marie D. Hathaway, husband and wife, of the Town of Charlestown, County of Washington, State of Rhode Island, (hereinafter called the mortgagors) in consideration of Ten Thousand ($10,000.00) Dollars, to us paid by INDUSTRIAL TRUST COMPANY, 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 is acknowledged, do hereby grant, bargain, sell and convey unto said INDUSTRIAL TRUST COMPANY, its successors and assigns, forever: (Description of property) Those certain parcels or tracts of lands with the buildings and improvements thereon, situated in the Town of Charlestown, County of Washington and State of Rhode Island, and bounded and described as follows: FIRST TRACT: Containing by estimation eight (8) acres, more or less, and bounded as follows: BEGINNING at the southwest corner of a stone wall at the southwest corner of the land of and formerly of Charles Burdick on the Burdickville Road, so called, thence extending northerly bounded west by a stone wall and thence northwesterly one hundred (100) feet to a nail; thence westerly following said stone wall one hundred ninety three (193) feet to a nail; thence westerly following said stone wall one hundred sixty (160) feet to a nail; thence northerly bounded northerly by certain parcels of land hereinbelow described; thence northerly still following said wall one hundred twenty (120) feet to a nail; thence east to the said parcel of land hereinbelow described; thence easterly following said last mentioned wall to the said stone wall and thence southerly to the corner of the Road called Junction Road, bounded easterly by northerly land hereinbelow described thence southerly, bounded west by the Road called Burdickville Road about four hundred fifty (450) feet to the corner of said lot at the Junction Road; thence westerly bounded southerly by said Burdickville Road to the place of beginning. SECOND TRACT: Containing by estimation eighty (80) acres, more or less, and bounded as follows: On the north by the lands now or formerly of George G. Begay on the north and thence easterly on the south by the land hereinabove described, and on the west by the land now or formerly of Charles Burdick, it being the land of the said George G. Begay; EXCEPTING, however, the heirs to the heirs of John S. Hiscox, the burying ground on said farm. Being the same premises which were conveyed to these mortgagors by deed of George H. Burdick, dated June 1, 1934 and recorded in Book 28, page 450 of the Land Evidence Records of said Town of Charlestown. 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 to 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; that they have good right, full power and lawful authority to sell and convey the same in 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 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 George G. Hathaway and Marie D. Hathaway, 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 hereof, 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 covenants 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.

658 and to apply the same, after deducting any expenses incurred in connection therewith, first upon the indebtedness hereby secured, whether or not then due, or in reimbursement for any taxes, assessments, insurance premiums or other sums paid by the mortgagee, or to the cost of replacing or repairing the damaged building or other improvements, or in event of foreclosure under this mortgage or other transfer of the title to the mortgaged premises in satisfaction of said indebtedness, and the balance, if any, to secure further any loan, title and interest of the mortgagee in and to any insurance policies, or to any other refund return or credit to which the mortgagee shall be entitled under this mortgage, and the mortgagee may surrender said policies and solute the sums so paid and the proceeds thereof to any other loan of the mortgagor to the mortgagee, or that may be recovered by the mortgagee on said policies by way of refunds, dividends, or otherwise, shall be applied as a surplus on a surplus to foreclosure. If the mortgagors fail to provide such insurance or pay the premium thereon, and all premiums so paid shall become a part of the principal indebtedness, and shall bear interest at the rate provided upon the principal indebtedness until payment thereof. 10 To keep and maintain the interior and exterior of the buildings and improvements on the premises described herein in good condition and repair until the principal and interest and discharge hereof in as good condition and repair as the same now are or may hereafter be kept in the opinion of the mortgagee. Industrial Trust Company, its successors and assigns, and its officers, their agents, and servants, to enter upon the premises at all reasonable times to view and inspect the same. 11 That the mortgagors, its successors and assigns, shall pay all taxes, assessments, water rates or insurance premiums not paid by the mortgagors when due, and all such sums shall be added to the principal and repaid until repaid and shall be added to the unpaid principal of the indebtedness until paid 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 mortgaged premises as evidenced by these presents. 12 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 in custody of any court, or if any receiver be appointed for said property, then on any day of such event the mortgagee is hereby authorized and empowered at its option, with or without notice and without prejudice to any other right or remedy it may have or any lien or any right of the mortgagee hereunder to declare all sums hereby secured immediately due and payable. IN WITNESS WHEREOF, the said mortgagors have hereunto set their hands and seals this 18th day of February, A. D. one thousand nine hundred forty-eight. Signed, sealed and delivered } in presence of } Thomas Sutcliffe } Hiram Kendall } GEORGE G. HATHAWAY MARIE D. HATHAWAY STATE OF RHODE ISLAND,) ss. County of Washington } In Westerly, on the 18th day of February, A. D. 1948, before me personally appeared the above named George G. Hathaway and Marie D. Hathaway, husband and wife, each and all to me known and by me born to be the parties executing the foregoing instrument, and severally acknowledged said instrument, by them, executed to be their free act and deed. HERBERT E. COOKE Notary Public. Received for record February 19th, A. D. 1948 at 9:00 o'clock, a. m., and recorded by [Signature] Town Clerk Industrial Trust Company, 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 to my office by its Manager and Assistant Manager duly authorized, this 9th day of May A. D. 1952. Signed and sealed } in presence of } James J. Morrison } INDUSTRIAL TRUST COMPANY (Corporate Seal) By Hiram Kendall Manager Thomas Sutcliffe Asst. Manager Received for record May 10th, A. D. 1952 at 9:20 o'clock, a. m., and recorded by [Signature] Town Clerk