10/27/1950 · MORTGAGE · book 32 page 323 doc 2727@32/323

323 Know all Men by these Presents: That We, HERMON H. HARGRAVES and HELEN HARGRAVES, husband and wife of the Town of South Kingstown, Rhode Island, (hereinafter called the mortgagor;) in consideration of TWO THOUSAND ($2,000.00) Dollars, to us paid by INDUSTRIAL TRUST COMPANY, a corporation created by the General Assembly of the State of Rhode Island, and located and transacting business in the City and County of Providence, in said State, the receipt whereof is acknowledged, hereby grant, bargain, sell and convey unto said Industrial Trust Company, its successors and assigns, forever: A certain tract or parcel of land with the buildings and improvements thereon, situated in the Village of Carolina, in the Town of Charlestown, County of Washington and State of Rhode Island, answered and bounded as follows: Bounded on the north by land now or formerly of Albert A. Saunders; on the east by Main Street, so-called, on the south and west by land now or formerly of Herman H. Hargraves and Helen Hargraves, otherwise known as home stead and described. Subject to condition to maintain line fences as appraisers or witnesses. Being the same premises conveyed to these mortgagors by deed of Agnes Whitmore dated September 12, 1934, recorded in Book 23, page 111 of the Land Evidence Records of the Town of Charlestown, and also by deed to these mortgagors Isabella P. Condon, and dated September 12, 1930 and recorded in said records, in Book 32, pages 252 and 253, respectively. TO HAVE AND TO HOLD the aforementioned premises, with its appurtenances, unto and to the use of said Industrial Trust Company, its successors and assigns forever. And the said mortgagors the same hereby, for themselves and for their heirs, executors, administrators, [?] and assigns whatever success shall Industrial Trust Co. 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 encumbrances although; That the said premises, with the buildings thereon, [?] to sell and convey the same as tenure or collateral for the said Industrial Trust Company, its successors and assigns, shall by these presents at all times herein before presently have and enjoy the said premises; and that the said mortgage shall be null and void, and of no effect, provided that the said successors and assigns shall, warrant and defend the same to said Industrial Trust Company, its successors and assigns, forever, against the lawful claims and demands of all persons whomsoever. And for the consideration aforesaid, we Hermon H. Hargraves and Helen Hargraves, husband and wife, do hereby release all of our right [?] title and other rights, statutory or otherwise, in and to the said granted premises unto said Industrial Trust Company, its successors and assigns, by this mortgage. PROVIDED, NEVERTHELESS, that if the said mortgagor, or the heirs, executors, administrators, [?] or assigns, shall fail to pay said Industrial Trust Company, its successors and assigns, the principal and interest of a certain promissory note, and shall be due after ten years from hence, and heretofore the seller mentioned herein, according to the terms written in the promissory note, and shall be due after all taxes, assessments, insurance premiums and other sums, the payment of which are hereby required or secured, and when the same are due, and payment is not made, the said Industrial Trust Company, its successors and assigns, may at their option, and then does do, issue said promissory note, shall be null and void, and absolutely be void and null to all intents and purposes whatsoever. BUT IF THE SAID promissory note, and the interest thereon, or any part of the taxes, assessments, insurance premiums or any other sum of money the payment of which is hereby or shall be required not signed or secured, or any part thereof, at the time or times when due, or if there shall be any default in the payment of any of the said sums, the said Industrial Trust Company, its successors and assigns, may suit to mortgage, or parcel in all, and singular the premises hereby granted or insured to be granted, or any part or parts thereof and the benefit and equity of redemption of the said mortgage. ADMINISTRATORS, executors and assigns of the said mortgagor, shall have the power to purchase at any time, their heirs, executors, purchaser shall be available for the application of the purchase money, first giving notice of the time and place of sale by publishing the same for at least one week in three successive weeks in some newspaper having a circulation in the Town of Charlestown, and the said power to sell the said premises shall continue, with notice of any adjournment or adjournment, at least one week before the date of sale, and the said premises shall be sold as specified in such notice; and in its or their own name or names, or as the attorney or attorneys of the said mortgagors. ARTHUR C. ARNOLD, INC. 1941

324 for that purpose by these presents duly authorized and appointed with full power of solicitation and revocation (and made in) execution, to make, execute and deliver to the purchaser or purchasers at any public sale or auction a good sufficient warranty deed or quit claim deed, in fee simple, of the premises sold; and to receive the purchase moneys and forevermore and retains to all intents and purposes all such money hereby secured or required to be paid to her, whether then due or due to fall due thereafter, and to apply the same first to all sums unpaid, and the same to all interest due on the same, together with all expenses incident to such sale of parcels, and all counsel fees and other expenses as aforesaid, and to apply the balance, if any, to the principal of the mortgage, in the order of their powers; and to proceed in any action or proceedings concerning the mortgaged or, either of the said notes, or any of the taxes, assessments, insurance premiums and indemnities, costs and other charges, including attorney's fees, and to apply any money received by such action or proceedings to the payment of such taxes, assessments, administrations [?], assigns which, unless or sale shall forever be a purveyor per litem in law and equity against the said mortgagor s, together with her heirs, executors, administrators, assigns, and all persons claiming said premises as sold by grant or sale, under them or any of them. as well as any other person or persons who may at any time hereafter be the owner or owner s of the said premises, and their heirs, executors, administrators, assigns, hereby covenant with the said Industrial Trust Co. and its successors, conveys and assigns, that they will upon the request of the said Industrial Trust Co. or its successors, convey and alien the said premises to the said Industrial Trust Co. or its successors. and FURTHERMORE, the said mortgagor for herself and her heirs, executors, administrators, assigns, hereby covenants and agrees with the said Industrial Trust Co. its successors and assigns, as follows: First, that she will pay the said principal sum of five thousand dollars and interest thereon in accordance with the terms thereof, that the said assessments and or levies are paid or will be levied prior to the payment in full the payment discharge or satisfaction of said note upon premiums or upon the mortgage, and that she will pay all taxes, assessments, water and other rents and rates hereby secured and other expenses hereunto belonging, and to make payment or payments for insurance reimbursed unpaid and premiums, and in other ways and other rents and rates expenses hereby secured and other expenses hereunto belonging, and in such terms, periodically, in such form and in such company or companies as its successors and assigns, may from time to time require, and to pay any insurance premiums in case of loss to make insurance of payable in full amount in case of loss to make insurance of payable in full amount in case of loss to make insurance of payable in full amount in case of loss to make insurance of payable in full amount in case of loss to make insurance of payable in full amount in case of loss to the said Industrial Trust Co. or its successors, holder of this mortgage for the time being her house made, constructed and appointed to the reasonable and true actual levy and insurance interest of the mortgagey in the said premises, and that she will keep the said premises and the buildings thereon in good repair and condition and will pay any insurance premiums in connection or relays for any and all sums received or recovered in satisfaction of such, and to apply the same, and any other levy assessments, insurance premiums in connection or relays for any and all sums received or recovered in satisfaction of such, and to apply the same, and any other levy assessments, insurance premiums in connection or other sums paid by the mortgagor, or to the cost of repairing or rebuilding the damaged buildings or improvements. In the event of fire, storm, wind, hail, explosion, or other casualty, the said Industrial Trust Co. or its successors, as holder of this mortgage, shall be entitled to all insurance secured, her right, title and interest in the mortgage's and in any insurance policy, assessments, or to any return or refund of premiums or dividends of the insurance company, and the said Industrial Trust Co. or its successors, shall be entitled to collect and receive any such sums and to apply the same to the payment of its option, transfer its right, title and interest in and assigns policies and the proceeds thereof to any purchaser of the mortgaged property; provided that any such sums shall be applied to the payment of the mortgage, and that the said Industrial Trust Co. or its successors, shall be entitled to collect and receive secured and any surplus paid over as a surplus on the mortgage. If the mortgagor fails to provide such insurance or to pay the premiums thereof, the mortgagee may at its option provide such insurance and pay the premiums thereof, and any such sums so expended shall be added to the principal sum of the secured mortgage, and shall bear interest at the same rate provided upon the principal indebtedness until payment thereof. Second, that the said mortgagor shall not sell, convey, mortgage, lease, or encumber the said premises, or any part thereof, without the prior written consent of the all those until payment in full of the principal sum of the mortgage, and to their others, agents and servants, to enter upon the mortgaged premises at all reasonable times and hours to view and inspect the same. Third, that the said mortgagor shall not remove any building or improvements from the said premises, nor shall she permit any building or improvements to be mortgaged when due, and all of such sums shall be immediately payable 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 premises and securities. Third, that if the mortgagor be declared bankrupt or insolvent or make an assignment for the benefit of any creditor or be placed under court control or receivership, or if she shall fail to pay any tax, assessment, or other charge upon the premises, then in law or in equity all the sums secured by this mortgage authorized and empowered at its option, without notice or without affecting the liens created or the priority of said lien or any right of set off or counterclaim, to declare the entire sum secured hereby immediately due and payable. IN WITNESS WHEREOF, the said mortgagor in her presence hereunto has set her hand and seal this 27th day of October one thousand nine hundred and fifty. Signed, sealed and delivered In presence of Harold B. Solowitzik HERMON H. HARGRAVES HELEN D. HARGRAVES State of Rhode Island, sc. County of Washington sc. In Charlestown, on the 27th day of October A.D. 19 50. before me personally appeared the above named Hermon H. Hargraves and Helen Hargraves, 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. HAROLD B. SOLOWITZIK Notary Public Recorded October 27th, A. D. 1950 at 2:15 o'clock, p.m. Witness: Town Clerk. Industrial Trust Bank of Providence has paid in full the principal sum with interest and satisfaction of the within mortgage, does hereby acknowledge and discharge the same. IN TESTIMONY WHEREOF, said Company has caused these Premises to be signed and its Corporate Seal to be hereunto affixed duly authorized, this 24th day of by its Proper Officers February A. D. 19 56 Signed and sealed in presence of INDUSTRIAL TRUST BANK OF PROVIDENCE By Irving M. Carpenter Manager Leroy C. Whitford, Cashier Discharge recorded February 24th, A. D. 1956 at 10:30 o'clock, a. m., Witness: Town Clerk.