1/3/1949 · MORTGAGE · book 31 page 405 doc 2148@31/405

: 406 Assigns, the sum of Six Thousand and 00/100 ($6000.00) Dollars at its Banking House in said Westerly, R. I., from the date hereof, with interest thereon at the rate of five (5%) per centum per annum, payable semi-annually in advance as provided in a certain negotiable prom- issory note of even date herewith, and the said mortgagors hereby covenant and agree and shall also pay all taxes and assessments of every kind assessed or imposed upon or in res- pect of said premises, and shall keep said premises in good repair and shall keep them so hereafter enacted, and shall maintain insurance on said premises as hereinafter provided and pay the premiums thereof, and the said mortgage is further secured by a promissory note of payment in currency of the United States, then this deed as all promissory note whereby the said sum is promised to be paid to the said Washington Trust Company or order, the sum afore- said with interest as aforesaid at the time of payment, and the same shall be and become a void to all intents and purposes whatsoever. In the event that said payment shall be made in the payment of the Six Thousand and 00/100 ($6000.00) Dollars principal sum, or 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 other sum of money which the said mortgagors are bound to pay under the expressed or implied terms here- inafter contained, then it shall be lawful for the said Washington Trust Company, its Suc- cessors and Assigns, to foreclose this mortgage and to sell the premises hereby mortgaged, granted, or intended to be granted, or any part thereof as the benefit, and the benefit and equity of the said mortgage, and the said Washington Trust Company, its Successors and Assigns, may, therein, by public auction, and to bid for and to purchase the same at any such sale, and not on account of any such bidding be deemed to impair any right of the said mortgagors, giving notice of the time and place of sale, by publishing the same at least once every week for three consecutive weeks next preceding such sale, in a newspaper published in Westerly, Rhode island, with power to adjourn such sale from time to time, and to postpone the confirmation of said sale, and the notice contained, together with a notice of the adjournment or adjournments, said notice once each week in the said newspaper, and to post a copy of said notice in a conspicuous place on said premises, noticing, or in its name or their name or names, or as the attorney or attorneys of the said mortgagors, and to execute and deliver to the purchaser or purchasers said premises sold, or of substitution and revocation), to make execute and deliver to the purchaser or purchasers at any such sale, a good and sufficient deed to the said premises sold, and the said Washington Trust, and to receive the purchase moneys, and therefrom to retain all sums hereby secured, whether the same be principal, interest, taxes, assessments, and all expenses incident to such sale or sales, also the interest then due on the same, together with all expenses incident to such sale or sales, and the costs of the sale, and the fees of the attorney or attorneys for the said Washington Trust, the exercise of those powers and same, all taxes, and assessments and assurances and all premiums for the insurance of said premises, and all other expenses incident to such sale or sales, to the mortgagors or their Assigns, or remaining unpaid, rendering and paying the surplus of said purchase money, if any, to the said mortgagors, or their heirs, executors, administrators or assigns, with there a true and particular account of such sums as are to be retained as aforesaid, together with a true and particular account of such sums as are paid to the said mortgagors, or their mortgagors, their heirs, executors, administrators or assigns, dicha sales or sales shall forever im- pair the right of the said mortgagors, or their heirs, executors, administrators or assigns, to re- dempt, executors, administrators and assigns, and all persons claiming said premises sold by from, or under the said mortgagors. And we, the said mortgagors, for ourselves and our heirs, executors, administrators and assigns, hereby covenant and agree, that said Washington Trust Company, its Successors and Assigns we or our heirs upon their request execute such deeds or confirm deeds of satisfactory or sale sales or as may be necessary or desirable. And FURTHERMORE we, the said mortgagors, for ourselves and our heirs, executors, administrators and assigns, covenant and agree with the said Washington Trust Company, its Successors and Assigns, that insurance against loss by fire, and other hazards as may be required by the mortgagees shall be kept and maintained on the buildings on the premises afore- said in a sum not less than Six Thousand and 00/100 ($6000.00) Dollars or in such greater amounts as well as in such amount as may be required by the said mortgagees from time to time, and that the policy or policies of such insurance shall be assigned to and transferred and, may be assigned to the said Washington Trust Company, its Successors and Assigns, and held by them, as collateral security to her default hereof, and in default thereof hereby agrees that the said Washington Trust Company, its Successors and Assigns, may at any time and upon any default, and as they deem it necessary to maintain existing insurance or may effect new insurance; and the said mortgagors for themselves and their heirs, executors, administrators and assigns, hereby covenant and agree that said Washington Trust Company, its Successors or Assigns, upon demand any premiums paid by it or their heirs, executors, administrators and assigns, shall be added to said principal sum and shall be a further Charge upon said premises granted and mortgaged to them by these presents. IN WITNESS WHEREOF, we have hereunto set our hands and seals this 31st day of December, A. D. one thousand nine hundred and forty-eight. Signed, sealed and delivered in the presence of Alfred C. Baker Mildred H. Bray MARY A. WILBUR FREDERICK E. WILBUR ANNA A. WILBUR PARKER CHARLES L. PARKER STATE OF RHODE ISLAND, County of Washington ) ss. In Westerly, on the 31st day of December, A. D. 1948 before me personally appeared the above named mortgagors, Mary A. Wilbur and Frederick E. Wilbur, husband and wife, and Anna A. Wilbur and Charles L. Parker, husband and wife, and all be known and known by me to be the parties executing the foregoing instrument, and severally acknowledged said instru- ment, by them, executed, to be their free act and deed. MILDRED H. BRAY (Notarial Seal) Notary Public. Received for record January 3rd, A. D. 1949 at 9:00 o'clock, a. m., and recorded by Town Clerk (FOR DISCHARGE OF ABOVE MORTGAGE, SEE PAGE 407)