2/19/1940 · MORTGAGE · book 28 page 161 doc 21@28/161

161. KNOW ALL MEN BY THESE PRESENTS: That we, BERTRAM D. KENNEDY and MARY D. KENNEDY, husband and wife, both of the Town of Charlestown, in the County of Washington and State of Rhode Island (hereinafter called the mortgagors) in consideration of Twenty-five Hundred ($2500.00) Dollars to us 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, and 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 (hereinafter called the mortgagee), its successors and assigns, forever, for that lot or parcel of land with all buildings and improvements thereon situated, located and situated in the Town of Charlestown and State of Rhode Island, and bounded and described as follows, to wit: Beginning at a stone bound on the westerly line of the said Beach Road at the northeasterly corner of Lot No. 4 on that plat entitled, "Peabody Plat in Charlestown, R.I.", owned by the Query Realty Corporation, State of New York, surveyed September 1935 by "A. S. Snyder, Civil Engineer", which plat is on file in the Charlestown Land Records in Plat Book 1 pages 37 and 38, thence westerly bounding said lot on the northwesterly line of said Plat Three hundred Seventy-five and eighty-one hundredths Meters (137.93 feet) to the bound nor lot or pathway of Lena T. Hassell and wife, thence southerly along the easterly line of said lot One hundred Twenty-three and forty-five hundredths Meters (40.35 feet) to the bound nor lot of said Burdick thence easterly bounding northerly on said Burdick land to Beach Road thence southeasterly along the easterly line of said Beach Road One hundred Eighty-five and eighty-one hundredths Meters (205.85 feet) to the point of beginning. Together with a right of way for highway purposes as appurtenant to the above described land over and across a street or way or ways as delineated on said plat leading from said Beach Road to the said lot. Being the same premises conveyed to said Bertram D. Kennedy and Mary D. Kennedy by Donna B. Jackson to said parties dated February 26, 1937 and recorded in Book 26 page 69 of said Charlestown Land Evidence Book. Together with all buildings and improvements now or hereafter erected thereon, all the hereditaments, appurtenances and rights thereto belonging or an in any wise now or hereafter appertaining, the rents, issues and profits thereof, and all plumbing, heating, lighting 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, and its successors and assigns, forever. And the said mortgagors do hereby for themselves and for their heirs, executors and administrators, covenant with the said mortgagee, and its successors and assigns, that they are lawfully seized in fee simple of the said granted premises; that the same are free from all incumbrances; that they have good right, full power and lawful authority to sell and convey the same in manner as aforesaid and that the said mortgagee, and its successors and assigns, shall by these presents at all times hereafter peaceably and quietly have and enjoy the said premises, and that the said mortgagors will, and their heirs, executors and administrators shall, warrant and defend the same to the said mortgagee, and its successors and assigns, forever, against the lawful claims and demands of all persons The CONDITION OF THIS DEED is, that, whereas we have this day pledged and transferred to the said mortgagee -13- shares of its Capital stock, said shares being in the 103rd Series, as collateral security, together with the real estate hereby conveyed, for the performance of the terms, covenants and conditions of this mortgage and of the note hereinafter mentioned, upon which shares said sum of Twenty-five Hundred ($2500.00) Dollars has been advanced to us by said mortgagee, now therefore, if we, the said mortgagors or our heirs, executors, administrators, or assigns, shall fail to pay the said mortgagee, its successors or assigns the sum of Twenty-five and 59/100 ($25.59) Dollars monthly, and each and every month therefore, at such time and places as shall be designated by said mortgagee, or its successors or assigns, being the amount of the monthly dues on said -13- shares and of the monthly interest upon said loan or advance of Twenty-five Hundred ($2500.00) Dollars for which said shares are pledged and said note and mortgage given, together with all fines chargeable by the By-Laws of said Corporation upon arrears of such payments, until said shares shall reach the ultimate value of two hundred dollars each, or

163 AND FURTHERMORE, the said mortgagors, for themselves and for their heirs, executors, administrators and assigns, for the consideration aforesaid, and to further increase the security of this mortgage, do hereby covenant and agree to and with the said mortgagees, and its successors and assigns, as follows: 1. To pay all indebtedness hereby secured in accordance with the tenor of said note, all taxes and assessments of every nature levied or to be levied upon said premises or upon the mortgagors, its successors and assigns, in respect to said mortgage or premises and any indebtedness under other security, all premiums for insurance maintained upon said premises and any taxes, assessments or expenses hereby reserved to be paid herein provided. 2. To keep and maintain insurance against loss by fire upon the buildings upon said premises, payable in case of loss to said mortgagee, its successors and assigns, in at least such amount, not less than Twenty-five Hundred Dollars ($2500.00) Insurance policy or policies, in such form and in such company or companies as shall be satisfactory to said mortgagee, its successors and assigns, and to authorize said mortgagee its successors and assigns to insure such buildings or agents through such brokers or agents as they may select; to effect such insurance upon said buildings by the mortgagors, or their heirs, executors, administrators and assigns, or to renew or not renew the policies thereof, mortgage, its successors and assigns, to be payable to, and the policies thereof, to be delivered to said mortgagee, its successors and assigns, in such form and manner, constituting and appointing the President or Secretary for the time being of said mortgage, its successors and assigns, as attorney in fact, in its name and stead, and attorneys or lawyers, irrevocably; in their names and stead; but in the usual and customary manner of such attorneys in fact, not to be revoked, to apply and collect and any all losses which may occur under any such insurance, to give discharge and release such policies, and to pay out of the proceeds thereof, first to reimburse himself therefrom for all expenses (including reasonable attorney's fees) incurred in collecting such proceeds, and then to apply the remainder of the proceeds of said mortgage, its successors or assigns, who shall apply the same and the unearned premium of said or diverted upon any cancelled insurance, notwithstanding any clause to the contrary, and to apply the balance of any amount of diverted insurance, assessments or insurance premiums, or upon the cost of replacing or restoring the damaged building or buildings. 3. To maintain all buildings upon said premises in good repair, and not to cause or permit, wall or demolition, or removal with first obtaining the written consent of the mortgagee, its successors and assigns. 4. That all amounts advanced by the mortgagees, its successors and assigns, for the payment of taxes, assessments, water rates or insurance premiums shall be repaid upon demand, and until such sums shall be added to the unpaid principal of the indebtedness hereby secured, and shall bear interest at the same rate as said indebtedness, and together with such interest, shall be a further lien upon the premises secured by these presents. IN WITNESS WHEREOF, we have hereunto set our hands and seals this seventeenth day of February, A. D. one thousand nine hundred and forty. (SEAL) BERTRAM D. KENNEDY (SEAL) MARY D. KENNEDY Signed, Sealed and Delivered in presence of HENRY HARRIS NELSON W. THORP STATE OF RHODE ISLAND ) ) ss. County of Washington ) In Westerly, on the seventeenth day of February, A. D. 1940, before me personally appeared the above named Bertram D. Kennedy and Mary D. Kennedy, husband and wife, each and all to me known and 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 W. THORP Notary Public. Received for record February 19th, A. D. 1940 at 3.10 o'clock, p. m., and recorded by [Signature] Town Clerk The WESTERLY SAVINGS FUND AND LOAN ASSOCIATION, having received full payment of all sums due on this Mortgage, does hereby cancel and discharge the same. In Testimony whereof, said Association has caused its corporate name and seal to be hereto affixed by the Assistant Treasurer there-of duly authorized, this 20th day of May, 1948. (Corporate Seal) WESTERLY SAVINGS FUND AND LOAN ASSOCIATION By E. Howard Clark, Asst. Treasurer In presence of Henry Harris Above discharge received for record May 22nd, A. D. 1948 at 11:48 o'clock, a. m., and recorded by [Signature] Town Clerk