The instrument's own words
page 1 · read by Gemma vision
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 said mortgage or other transfer of the title to the mortgaged premises in satisfaction of said indebtedness, and the balance, if any, of such proceeds first, to any subordinate lien, and title and interest of the mortgagor in and to any insurance policies, or to any other salvage return, and the balance, if any, of such proceeds shall be paid to the mortgagee, and the mortgagee may surrender said policies and consent to the cancellation of said policies and the proceeds thereof to any insurer of the mortgaged property, provided that any money so recovered or received on said policies by way of refunds, dividends, or otherwise, shall be applied as a surplus on a surplus to Foreclosure. If the mortgagor fails to provide such insurance or pay the premiums thereon, the mortgagee may effect such insurance or pay the premiums 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 exterior and interior of the buildings and improvements on the premises described herein in good and serviceable condition until such time as the mortgagee shall discharge hereof in as good condition and repair as the same now are or may hereafter be put in the opinion of the mortgagee. The Industrial Trust Company, its successors and assigns, and its officers, their agents, and servants, authorized, to enter upon the premises at all reasonable times to view and inspect the same.
11. That the mortgagor, its successors, assigning and heirs, pay all taxes, assessments, water rates or insurance premiums not paid by the mortgagor when due, and all such sums shall be paid as a debt due and unpaid and until repaid shall be added to the unpaid principal of the indebtedness 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. That if the mortgagor 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 recourse to any court of law, to declare all sums secured by said lien or any right of the mortgagee hereunder to declare all sums secured hereby 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 } GEORGE G. HATHAWAY
Thomas Sutcliffe } MARIE D. HATHAWAY
Hiram Kendall }
STATE of RHODE ISLAND,)
County of Washington } ss.
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 [?]
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 its Manager and Assistant Manager duly authorized, this 9th day of May A. D. 1952.
Signed and sealed } INDUSTRIAL TRUST COMPANY (Corporate Seal)
in presence of } By Hiram Kendall
James J. Morrison } Manager
Thomas Sutcliffe
Asst. Manager
Received for record May 10th, A. D. 1952 at 9:20 o'clock, a. m., and recorded by [?]
Town Clerk
The page as recorded
