The instrument's own words
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mortgaged property; provided that any sums received on said policies by way of refunds, dividends, otherwise, shall be applied or credited to account of the indebtedness hereby secured and any surplus paid over as a surplus on a foreclosure. If the mortgagors fail to provide such insurance or to pay the premiums thereon, the mortgagee may pay such insurance or pay the premiums thereon, and all premiums so paid shall become a part of the indebtedness secured hereby, and shall bear the same rate of interest provided upon the principal indebtedness until payment thereof.
3. To keep and maintain the exterior and interior and improvements on the buildings and improvements on the premises in as good condition as this mortgage at all times until full payment and discharge hereof in as good condition and repair as the same now are or may hereafter be, and to permit the Industrial Trust Company, its successors and assigns, and its and their officers, agents, and servants, to enter upon the mortgaged premises at all reasonable times to and view and inspect the same.
4. That the mortgagors, for themselves and their heirs and assigns, may and shall pay all taxes, assessments, water rates or insurance premiums due and paid by the mortgagors when due, and if any of such sums shall be immediately repaid and until repaid shall be applied to the unpaid principal of the mortgage, and any sum so paid shall bear interest at the same rate as said indebtedness until paid and together with such interest shall be a further charge upon the premises hereby mortgaged.
5. That if the mortgagors be declared bankrupt or insolvent or make an assignment for the benefit of the creditors or assets be placed under control of or in custody of any court, or if the mortgagors be absent from said city, state or property, then in any such event the mortgagee is hereby authorized and empowered at its option, without notice and without attorney, to sell the property or the premises or the premises or lien or any right of 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 20th day of February, A. D. one thousand nine hundred forty-eight.
Signed, sealed and delivered
in presence of
NELSON H. THORP
HANCOCK B. SOLOVITZIK
WALTER K. SHUTE
SUSAN M. SHUTE
STATE OF RHODE ISLAND, )
) ss.
County of Washington, )
In Westerly, on the 20th day of February, A. D. 1948, before me personally appeared the above named Walter K. Shute and Susan M. Shute, husband and wife, each and all to me known and known 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.
NELSON H. THORP
Notary Public.
Received for record February 20th, A. D. 1948 at 1:15 o'clock, p. 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 thereunto affixed by its Manager and Assistant Manager duly authorized, this 20th day of May A. D. 1948.
Signed and sealed in presence of
Angelina P. Vest
Alma M. Rhodes
INDUSTRIAL TRUST COMPANY (Corporate Seal)
By [Signature]
Donald
Manager
Thomas Sutcliffe
Asst. Manager
Above discharge received for record May 22nd, A. D. 1948 at 9:15 o'clock, a. m., and recorded by
[Signature]
Town Clerk
The page as recorded
