4/23/1953 · RELEASE · book 32 page 552 doc 2937@32/552

552 (for that purpose by these presents duly authorized and appointed with full power of substitution and appointment) to make convey, and deliver to the purchaser or purchasers at purchase sale or sales a good and sufficient indenture of deed or deeds, in fee simple of the premises sold; at the receipt of the purchase money and tenements or to retain all sums hereby secured or required to be paid, whether due then or due to fall due thereafter, or part thereof then remaining unpaid, and also the interest due on the same, together with all expenses incidental to such sale or sales, and all other costs and expenses such other costs and expenses as may be necessary for the sale of the premises and the enforcement thereof on the land, or side of it, none of these presents, and all taxes, assessments, insurance premiums and expenses of repayment and release, either before or after the sale, and all other costs and charges of foreclosure or sale, and any redemptions and paying the purchase sale of such improvements may, if there be any, over and above the amount so to be retained as a foreclosed, together with a his administrators, executors or assigns, while sole shall or shall forever be a perpetual bar both in law and equity against the sold mortgagor and the estate of Lillian E. DeAngelis, her heirs, executors, administrators, successors and assigns, and all other persons claiming as his assigns, and all other persons claiming said premises to as said by, from, or under any of them, or any of them. All rights and remedies of the Industrial Trust Company, as trustee for the Industrial Trust Company, and its successors, heirs, executors, assigns, hereby conveyed with the said Industrial Trust Company, its successors, as trustee, in the mortgage herein, or they will upon the payment of the mortgage money, with interest, and all other sums now due or to become due, be released from the same. And FURTHERMORE, the said mortgagor, for himself and for his heirs, executors, administrators, successors and assigns, and for the estate of Lillian E. DeAngelis, her heirs, executors, administrators, agree to and with the said mortgagees, its successors, as trustee, and its heirs, executors, administrators, successors and assigns, to pay all taxes, assessments or levies now due or to be levied prior to the full payment and discharge of said mortgage until said premises or a part thereof shall be sold under any power of sale contained in this mortgage, unless prepaid under any other provision of this instrument, or for insurance maintained upon said premises, all water rates and other charges now due or accrued or hereafter to accrue on said premises. 2. The mortgagor shall keep the premises insured against loss by fire and by such other hazards, insurance policies and contingencies, in sums sufficient, in such form and in such companies as the mortgagee may from time to time approve, under the conditions of the mortgage, until the mortgage shall be paid and discharged, and to pay promptly when due all such premiums on such insurance; to make notice of all policies and to provide the holder of this mortgage for the time being his copy made, constructed and approved with the true and lawful attorney irrevocable of the mortgagee to collect and receive any insurance money which may hereafter accrue under any such insurance policies and to apply the same or releases for any and all sums now due or settlement of such losses, and to apply the same, after deducting any expenses incurred in connection therewith to the payment of the mortgage money, with interest, and all other sums now due or to become due, and for any other sums invested in connection with said premises or any other sums paid by the mortgagor, to the cost of repairing or replacing the damaged buildings or improvements. In the event of any insurance money, all rights, title and interest of the mortgagor in and to any insurance policies, or any return or return of premiums or dividends shall be assigned to the mortgagee, and the mortgagee shall be entitled to receive the same, and to apply the same to the mortgage money, at its option, to transfer its right, title and interest in and to said policies and premiums to the purchaser of the premises through any mortgage proceeding; if the mortgagor shall fail to pay the premiums as aforesaid, the mortgagee may at its option pay such premiums or a part of the indebtedness hereby secured and any such overpaid sum as a part of the indebtedness foreclosed. If the mortgagor fail to provide such insurance or to pay the premiums, the mortgagee may enter upon and take possession of the premises until such insurance shall be paid or shall become a part of the indebtedness secured, and shall bear interest at the same rate provided upon the principal indebtedness until payment performed. 3. The mortgagor, his heirs, executors, administrators, successors and assigns, and the estate of Lillian E. DeAngelis, and the premises described in this mortgage until full payment and discharge be delivered, as so good condition and repair as now existing or are not permitted to be sold industrial mortgage on such premises, and the mortgage shall be void and of no effect upon the writing of the mortgage has first been obtained, and to permit said industrial Trust Company, its successors and assigns, and its successors and assigns, and its successors and assigns, to 4. That the mortgagees, with its successors, as trustee, may assign all pay taxes, assessments, water rates or insurance premiums not paid by the mortgagor, and that all and all of such sums shall be immediately recourse and repaid until said amount be added to the unpaid principal of the indebtedness hereby secured and shall bear interest at the same rate provided upon the principal indebtedness until such sums shall be paid and such sums shall be a further lien upon the premises and secured by these presents and the deed thereof. 5. That the mortgagees may at its option, and in the event of a default of the mortgagor on any rule as assignment for the benefit of any creditor or be placed under control of or in custody of any court, or if the mortgagor abandon any or part of any property, then in any of said events the mortgagees is hereby authorized to enter upon and take possession of the premises and to lease the same, and to collect the rents or extend the mortgage or any part of the right of the mortgagor to receive the rents as a part of the indebtedness immediately due and payable. IN WITNESS WHEREOF, the said mortgagor has hereunto set their hand and seal this 3rd day of August, A. D. one thousand nine hundred fifty-one. Signed, sealed and delivered Thos. Sutcliffe DONALD DEANGELIS LILLIAN E. DEANGELIS State of Rhode Island, sc. County of Washington kt in Westerly on the 3rd day of August, A. D. 1951 before me personally appeared the above named and wife Donald DeAngelis & Lillian E. DeAngelis, husband and wife, to me known and by them to be their each and all the parties executing the foregoing instrument, and severally acknowledged said instrument, by their exams, executed, to be theirs free act and deed. Witness: HERBERT E. COOKE Notary Public. Recorded August 6th, A. D. 1951 at 9:10 o'clock, a. m. Witness: Town Clerk. Industrial Trust Company, having received full payment and satisfaction of the whole 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 herunto affixed by its Manager and Assistant Manager duly authorized, this 22nd day of April A. D. 1953 Signed and sealed in presence of Doris B. Davis INDUSTRIAL TRUST COMPANY By Hiram Kendall Manager Thomas Sutcliffe Asst. Manager Discharged recorded April 23, 1953 at 1:00 o'clock, p. m., Witness: Town Clerk.