9/3/1948 · MORTGAGE · book 31 page 287 doc 2042@31/287

287 NOW KNOW ALL MEN BY THESE PRESENTS: That I, ROBERT J. RICHARDSON, of the Town of Charlestown, in the county of Washington and State of Rhode Island (hereinafter "settlor" called the mortgagor) IN CONSIDERATION of Thirty-two Hundred ($200.00) Dollars to be paid by the WESTERLY SAVINGS FUND AND LOAN ASSOCIATION, a corporation legally incorporated, and established and transacting business in the Town of Westerly, in the county of Washington, State of Rhode Island, the receipt whereof is acknowledged, do hereby grant, bargain, sell, and convey unto the said Westerly Savings Fund and Loan Association, its successors and assigns, and the mortgagees and assignees, and forever, a certain tract or parcel of land with cottage house and other improvements thereon, situated in the Town of Charlestown, Rhode Island, at East Beach Road, so called, at Quonsetogue Connecticut East Beach in the Town of Charlestown, County and State of Rhode Island and more specifically described as follows, to wit: Being Lot #12 and the easterly one-half of Lot #11 as shown and delineated on a residential plat or map of "East Beach" at Charlestown, R. I. shown and delineated owned by the Quony Realty Corp., Scale 1 inch equals 80 feet, Survey December, 1921, said lots being part of the original farm of the family being duly recorded in the land Evidence Records of said Town of Charlestown, in Plat book 1 Pages 37 and 38. Said parcel of land is approximately ninety (90) Feet in width and one hundred (100) feet in length, being bounded northerly by a street or passway, easterly by the land of James P. Dinwiddie, southerly by the land of George W. and Marion S. Seivers, by land of Paul Dinwiddie and the Atlantic Ocean, and westerly by the land of Bertha M. Peckham, now of George Zabel. Being the same premises conveyed to Robert J. Richardson by George W. and Marion S. Seivers by a deed dated the 11 day of August, 1945, to be recorded in the Land Evidence Records of said Town of Charlestown, together with a right of way as described in said deed as follows: "The Grantee, his heirs and assigns are granted the right and privilege for his and his heirs, self, his tenants, servants, agents, contractors and licensees to pass and repass at all times and for all purposes, in common with others, over and across a tract of land for foot paths in said land in which said land is on East Beach Road in the Town of Charlestown, Pond; said right of way being bounded northerly by the land of John E. Orton and land formerly of Henry G. Seivers, southerly by the parcel here by conveyed land, and of James Bonner, Paul Dinwiddie and others." This mortgage is made pursuant to the provisions of Title III of the Act of Congress of the United States of America known as the Banking Act and the amendments of Readjustment Act of 1944 "as amended" and subject to all of the provisions thereof. Together with all buildings and improvements now or hereafter erected thereon, all the hereditaments, appurtenances and rights herentong belonging or any in where now or hereafter attached, the rents, issues, profits, rents, rents, heating, lighting, heating, water and other fixtures, equipment and articles now or hereafter attached thereto. TO HAVE AND TO HOLD the aforesaid premises, with their appurtenances, unto and to the use of the said mortgagee, its successors and assigns, forever. And the said mortgagor does hereby, for himself, and for his heirs, executors, administrators and conservators, covenant with the said mortgagee, to its successors and assigns, that he is lawfully seized of and in possession of the said premises, in the same manner as the same are now incumbered; that he has good right, full power, and lawful authority to sell and convey the same in the manner as aforesaid; that the said mortgage, and its successors and assigns, shall by these presents have and hold the said premises, and the appurtenances thereof, free and unimpaired, and that the said mortgagor will, and his heirs, executors and administrators shall, warrant and defend the said premises unto the said mortgagee, to its successors and assigns, against the lawful claims and demands of all persons. And for the consideration and aforesaid consideration, I, DORIS MAY RICHARDSON, wife of said Robert J. Richardson, do hereby grant, bargain, sell and convey all my right of dower and all other right, status or otherwise, in and to the said granted premises unto the said mortgagee, to its successors and assigns, forever. PROVIDED, HOWEVER, that this conveyance is made upon the express condition that, if the said mortgagor, or his heirs, executors, administrators or assigns, shall pay unto the said mortgagee, or to its successors and assigns, the sum of Thirty two Hundred ($200.00) Dollars, together with the interest therein to the hundredth part of twenty (20) monthly installments of Ninety and 19/100 ($90.19) Dollars payable on the second day of each and every month commencing the 1st day of October, 1948, and continuing until the said loan date to bear interest at the rate of 4% per annum until paid, all in the manner and according to the terms of a promissory note of even date herewith, and the said mortgagor shall pay and perform all the terms of a collateral agreement of even date herewith made by said mortgagor and his wife, Doris May Richardson, and shall pay all taxes and assessments and water rates and other sums the payment of which is hereby secured, and as when the same become due and payable, and shall keep the said premises and the buildings thereon, and all other hereditaments and in or the above mentioned to the part of the said mortgagor, or his heirs, executors and administrators, in good and substantial repair, then this conveyance and the promissory note shall be and become absolutely void to all intents and purposes whatsoever. BUT IF DEFAULT shall be made in the payment of any of the sums of money above mentioned, at any time or times when due or aforesaid due, or of the taxes, assessments, insurance premiums or water rates hereinabove mentioned, or if the said mortgagor shall fail to perform any covenant hereby made or by said note executed or security or any other petition annexed thereto at the times or times when due or to be performed, or if the said mortgagor shall fail to perform any of the covenants for this mortgage or if breach shall be made of the covenant for insurance hereinafter contained or in the performance of any of the covenants herein contained or in the promissory note or collateral agreement, or if, the whole of said principal sum shall not be paid when lawfully declared due to be paid, or if the said mortgagor shall fail to insure the said mortgaged premises or mortgagees or assigns, to sell, together or in parcels, all and singular the premises hereby granted, or intended to be granted, and all the hereditaments and appurtenances or part thereof, and to apply the benefit and equity of redemption of the said mortgagor, and of the said Doris May Richardson, and their heirs, executors, administrators and assigns therein at public auction, and to bid for and become the purchaser at any such sale, and no other purchaser shall be answerable for

the application of the purchase money, first giving notice of the time and place of sale, by publishing the same at least once each week for three (3) successive weeks in newspapers published in said town of Westerly with power to adjourn such sale from time to time, provided that the publication of said notice shall be continued, together with a notice of the postponement or adjournment of such sale, in the same manner as aforesaid, until the same be upon the premises or elsewhere as the trustee may determine, and the said trustee, Robert Richardson, (for that purpose by these presents duly authorized and appointed with full power) shall have power to sell the premises, and any improvements thereon, at such purchasers at cheers such sale or sales, good and sufficient deed or deeds of the premises sold in the name of the mortgagor, and the proceeds of such sale or sales shall be applied to secure, cured, whether then payable or to become payable thereafter, or the part thereof then un- remaining unpaid and also, the interest there on due then on the same, together with all expenses including reasonable attorney's fees and costs of the trustee in such sales and processes foremost or any connected with, the exercise or defense of those powers or with any proceedings or action therein, and the balance of the proceeds of such sale or sales shall be applied to pay the taxes, assessments, water rates, assessments, insurance premiums and expenses of repair, extinguishing the surplus of said purchase moneys, if any there be over and above the amounts and sums to be retained or refunded, and the balance of the proceeds of such sale or sales, after deducting all expenses and charges, to the said mortgagor, his heirs, executors, administrators and assigns, which balance of the proceeds of such sale or sales shall be held in trust by the trustee, for the mortgagor, and the said Doris May Richardson their heirs, executors, administrators and as- signs, and all persons claiming said premises their sold by, from or under him, then or any of them, or any of them. And the said mortgagor, and the said Doris May Richardson, for themselves and for their heirs, executors, administrators and assigns, hereby covenant with the said mortgagee, and its successors and assigns, that they shall warrant and quietly enjoy such premises and con- firmatory of such sale or sales as may be necessary or desirable. AND FURTHERMORE, the said mortgagor, for himself, and for his heirs, executors, administrators and assigns, does hereby covenant and agree, and to further increase the security of the said mortgage, does hereby covenant and agree to and with the said mortgagee, and its successors and assigns, as follows: 1. To pay all indebtedness hereby secured in accordance with the tenor of the said note, all taxes and assessments of every nature levied on or to be levied upon said premises and to pay all premiums on insurance policies or assigns, in relation to this mortgage or mortgage indebtedness, under statutes now in force or that may hereafter be enacted, all premiums for insurance maintained upon said premises, and all other charges which shall be necessary to keep security as hereinabove premises, and all write off. 2. To keep and maintain insurance against loss by fire to the buildings upon said premises, payable in case of loss to said mortgagee, its successors and assigns, in at least such amount as now exists, and from time to time in such other amount or not less than the amount necessary to prevent the operation of coinsurance clauses, and in the event that the mortgagor shall fail to effect such insurance, the trustee, the mortgage, its successors and assigns, who are hereby authorized to effect such insurance, shall be entitled to do so, and the premiums thereon, all insurance policies upon said buildings by the mortgage, or his heirs, executors, administrators and assigns, whether or not the mortgage is in effect, and such insurance shall be successive be payable to, and the policies thereof to be delivered to, said mortgagee, its successors and assigns, the mortgage having constituting and appointing the President or Secretary for the time being of the WESTERLY SAVINGS FUND AND LOAN ASSOC, or successors, for the time being and their attorneys or lawyers, irrevocably, in the name and stead of the mortgagor, to effect such insurance, and to the trustee, and adjust, sue for, compromise and collect any and all losses which may occur under some such policies, and any and all money received in any such adjustment or settlement of such losses, to reimburse himself therefore for all expense (including the reasonable attorney's fees and costs of the trustee in such settlement), and the remainder therefore to said mortgagee, its successors or assigns, who shall apply the same to the payment of the mortgage indebtedness, and in the event of coinsurance, notwithstanding any claim of any holder of any subsequent lien upon said premises, at its sole discretion, to apply the same to the payment of any other prior encumbrance, indebtedness hereby secured, whether or not then due, and to reimbursement of advances for taxes, assessments or insurance premiums, or upon the cost of repairing or restoring the damaged buildings or improvements. 3. To maintain all buildings upon said premises in good repair, and not to cause or permit waste, or demolition or removal without first obtaining the written consent of the mortgagee. 4. That all amounts advanced by the mortgage, its successors and assigns, for the payment of taxes, assessments, water rates or insurance premiums shall be repaid upon demand, or if not so repaid, shall become immediately due and payable, subject- edebtness hereby secured and shall bear interest at the same rate as the said indebtedness, and any such unpaid interest, shall be further a lien upon the premises secured by this present. IN WITNESS WHEREOF, we have hereunto set our hands and seals this second day of September, A. D. one thousand nine hundred and forty-eight. Signed, Sealed and Delivered in presence of Nelson B. [?] Henry Harris ROBERT J. RICHARDSON (SEAL) DORIS MAY RICHARDSON (SEAL) STATE OF RHODE ISLAND ) County of Washington ) Sc. In Westerly, on the second day of September, A. D. 1948, before me personally ap- peared the above named Robert J. Richardson and Doris May Richardson, and each and all to me known and known to 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 September 3rd, A. D. 1948 at 10 o'clock, a. m., and recorded by Town Clerk (DISCHARGE OF THIS MORTGAGE, RECORDED ON PAGE 299)

TO HAVE AND TO HOLD the aforegranted premises, with their appurtenances, unto and to the use of the said The Washington Trust Company, its Successors and Assigns, forever. And we the said mortgagors do hereby, for ourselves and for our heirs, executors and administrators, covenant with the said The Washington Trust Company, its Successors and Assigns, that we are lawfully seized in fee simple of the said granted premises; that the same are free from all incumbrances; that we have good right, full power and lawful author- ity to sell and convey the same in manner aforesaid; that the said The Washington Trust Company, its Successors and Assigns, shall, by these presents at all times hereafter peace- ably and quietly have and enjoy the said premises, and that we the said mortgagors will, and our heirs, executors and administrators shall, warrant and defend the same to the said The Washington Trust Company, its Successors and Assigns, forever, against the lawful claims and demands of all persons, and will pay the moneys, taxes and assessments and other expenses hereby secured as hereinafter provided. PROVIDED, NEVERTHELESS, that if, we the said mortgagors, or our heirs, executors, administrators or assigns, shall pay unto the said The Washington Trust Company, its Success- ors or Assigns, the sum of Seventy-five Hundred ( $2750.00 ) Dollars at its Banking House in said Westerly, R. I., six (6) months from the date hereof, with interest thereon, at the rate of five (5%) per centum per annum payable semi-annually in advance until said princi- pal sum is paid, whether at or after maturity, and all installments of interest in arrears, whether, before or after maturity, to bear interest at the rate aforesaid until paid; and shall also pay all taxes and assessments of every kind assessed or imposed upon or in respect of said premises, or upon the said The Washington Trust Company, its Successors or Assigns, in respect of this mortgage or mortgage debt, whether under statutes now in force or that may be hereafter enacted, and shall maintain insurance on said premises as her-inafter provided and pay the premiums therefor upon demand, all of said payments to be paid at the several times of payment in currency of the United States, then this deed as also a promissory note whereby said mortgagors promise to pay the said The Washington Trust Company or order, the sum aforesaid with interest as aforesaid at the times aforesaid, shall become and be absolutely void to all intents and purposes whatsoever. BUT IF DEFAULT shall be made in the payment of the said principal sum or of said interest at the times and in the manner aforesaid, or of the taxes or assessments aforesaid as the same first become payable, or of any one of either then or of any part thereof, or if breach shall be made of the covenant for insurance hereinafter contained, then it shall be lawful for the said The Washington Trust Company, its Successors or Assigns, to sell, togeth- er or in parcels, all and the singular the premises hereby granted, or intended to be granted, or any part or parts thereof, and the benefit and equity of redemption of the said mortgagors and their heirs, executors, administrators and assigns therein, at public auction, and to bid for and become the purchaser at any such sale, and no other purchaser shall be answer- able for the application of the purchase money, first giving notice of the time and place of sale, by publishing the same at least once each week for three successive weeks in some newspaper published in said Town of Charlestown, R. I., with power to adjourn such sale from time to time, provided that the publication of said notice shall be continued, together with a notice of the adjournment or adjournments, at least once each week in the same newspaper; and such sale to be upon the premises or elsewhere as specified in such notice; and in its or their own name names or names, or as the attorney or attorneys of the said mortgagors (for that purpose by these presents duly authorized and appointed with full power of substitution and revocation), to make execute and deliver to the purchasers or purchasers at such sale or sales, good and sufficient deed or deeds of the premises to the purchasers in fee simple; and to receive the

291 purchase moneys, and therefrom to retain all sums hereby secured, whether then payable or to become payable thereafter, or the part thereof then remaining unpaid, and also the interest then due on the same, together with all expenses incident to such sale or sales, and all counsel fees and other expenses, incurred in, or in any way connected with, the exercise of these powers and all taxes, and assessments as aforesaid and all premiums for insurance, either theretofore paid by the said The Washington Trust Company, its Successors or Assigns, or then remaining unpaid, rendering and paying the surplus of said purchase moneys, if any there be over and above the amounts so to be retained as aforesaid, together with a true and particular account of such sale or sales, expenses and charges, to the said mortgagors, their heirs, executors administrators or assigns, which sale or sales shall forever be a perpetual bar both in law and equity against the said mortgagors, and their heirs, executors, adminis- trators and assigns, and all persons claiming said premises so sold by, from, under them or any of them. And we the said mortgagors for ourselves and for our heirs, executors, administrators and assigns, hereby covenant with the said The Washington Trust Company, its Successors and Assigns, that we or they will upon request execute such deed or deeds confirmatory of such sale or sales as may be necessary or advisable. And FURTHERMORE, we the said mortgagors, for ourselves and for our heirs, executors, administrators and assigns, hereby covenant with the said The Washington Trust Company, its Successors and Assigns, that insurance against loss by fire or any other casualty which may be specified by the mortgagee shall be kept and maintained on the buildings on the premises aforesaid in such office or offices as the said Company, its Successors and Assigns, shall approve, in a sum not less than twenty-five Hundred rounded ($2700.00) Dollars or in such greater amounts as will prevent the operation of co-insurance clauses contained in such policies of insurance, and that the policy or policies of such insurance shall be assigned and transferred, or made payable in case of loss, to the said The Washington Trust Company, its Successors and Assigns, as collateral security hereinto, and in default thereof hereby agree that the Wash- ington Trust Company, its Successors or Assigns, may pay from time to time any premiums which may be necessary to maintain existing insurance or may effect new insurance; and the said mort- gagors for themselves and for their heirs, executors, administrators and assigns agree to repay to the said The Washington Trust Company, its Successors or Assigns, upon demand any premiums paid by it or them, and, if not repaid, the same shall be added to said principal sum and shall be a further charge upon said premises granted and secured by these presents, as aforesaid. IN WITNESS WHEREOF, we have hereunto set our hands and seals this 2nd day of September, A. D. one thousand nine hundred and forty-eight. Signed, sealed and delivered ) GEORGE SOULE (SEAL) in presence of ) LILA CRAPO SOULE (SEAL) Howard E. Thorp STATE OF RHODE ISLAND, ) ) County of Washington ) In Westerly, on the 2nd day of September, A. D. 1948, before me personally appeared the above named mortgagors, George Soule and Lila Crapo Soule, 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. HOWARD E. THORP (Notarial Seal) Notary Public Received for record September 3rd, A. D. 1948 at 9:08 o'clock a. m., and recorded by [?] Town Clerk (FOR DISCHARGE OF THIS MORTGAGE SEE PAGE 679)