1/7/1953 · MORTGAGE · book 33 page 374 doc 3391@33/374

375 (d) by the fact that the Mortgagees shall accept any such payment or payments, or performances of any such agreements or covenants. 3. That he will pay all taxes assessments water rates sewers etc. municipal or municipal charges, dues and impositions in any manner defined or levied, and if the Mortgagees may pay the same, and all sums so advanced shall bear interest from the date of such payment at the same rate provided for as the principal sum hereby secured, and shall be secured hereby, and that he will promptly deliver the official receipts therefor to the Mortgagees therefor. 4. That he will keep the premises in as good condition as are and currently they are, and not he will permit or omit any wants thereof, reasonable and worn tear excepted. 5. That he will keep and maintain the buildings now existing or hereafter erected on the premises aforesaid, insurance against loss by fire and other casualties and other hazards and contingencies, in such office or offices as the said Mortgagee and its successors or assignees shall approve, insuring the buildings for a sum not less than Eight Thousand ($8,000.00), and will promptly pay when due, any premiums on such insurance. 6. That any policies of insurance on the premises herein conveyed observed as aforesaid, including transferred, endorsed, or made payable to the Mortgagees, shall be delivered and assigned security hereto. If the Mortgagor fails to effect or maintain such insurance or fails to make any payment for insurance premiums, the Mortgagees may at their option pay the same, and such sum paid therefor shall bear interest from the date of payment at the same rate provided for interest on the principal sum hereby secured, and be secured hereby. If the premises covered by insurance, and any part thereof be destroyed by fire, or other casualty, the sum which insurance hereby, or any part thereof is as hereinafter provided, the amounts paid by the insurance company pursuant to its policy shall be paid to the Mortgagees, and shall be applied by them, then remaining unpaid, to the principal of the mortgage, and, at its option, apply be applied to the debt remaining unpaid, or to the restoration of the premises, or in the event of the foreclosure of this mortgage, or other transfer of title to the mortgaged property in satisfaction of the debt remaining unpaid, or to the title and interest of the said Mortgagees and in to any insurance policies then in force, shall pass to the purchaser If there shall be a default in any term of the terms, conditions or covenants of this mortgage, or under the note secured hereby, the Mortgagees shall have the right to foreclose this mortgage, in parcels, and all impairing the premises hereby granted, or intended to be granted, or any part or parts thereof, and may proceed to sell the premises at public auction under the premises of law, and the benefit and equity of redemption of the mortgaged, and their heirs, executors, administrators and assigns therein, at public auction upon the premises, or any part thereof, or elsewhere as specified in the notice of sale, and may sell the same as a whole or in parts, and at such sale, (under no other payment shall be answerable for the application of the purchase money), first in payment of all taxes, assessments, water rates, sewers etc. municipal or municipal charges, for three successive weeks in some newspaper published in the County of Washington, Rhode Island, where title to the same is located, and a notice of the adjournment of the sales, if any, and such sale shall be continued, together with a notice of the adjournment of the sales, at least once each week in the same newspaper until the sale shall be completed, and the purchase money shall be applied to the Mortgagee (for the Mortgagee has by the presents duly authorized and appointed with full power of substitution such agent or agents to sell the premises), and the purchase money shall be applied as follows: first to such sale a good and sufficient deed or deed of sale as required by the premises in fee simple, and to the receiver of said sale a payment of all taxes, assessments, water rates, sewers etc. municipal charges then due or fell due to that date thereafter, or the part thereof then remaining unpaid and also the interest thereon due and unpaid, and the costs of the sale, and the fees of the receiver of said sale, and deeds hereby rendered, and for fees of counsel and attorneys, and all costs or expenses incurred in the first in payment of all taxes, assessments, water rates, sewers etc. municipal charges, and all other sums therefore paid for as aforesaid by the Mortgagee or then remaining unpaid, upon said granted premises, rendering and paying the surplus of said proceeds of sale, if any thereabove, and over all the amounts so to be reduced and foremost as aforesaid, to the Mortgagor, and their heirs, executors, administrators and assigns, and all persons claiming said premises And the Mortgagor hereby further covenants that he will, upon request, execute such deed or deeds confirmatory of such sale or sales as may be required. Notice of the exercise of any option granted to the Mortgagee herein, or in the note secured hereby, is not required, nor given. The covenants herein contained shall bind, and the benefits and advantages shall inure to, the respective heirs, executors, administrators, successors and assigns of the parties hereto. Whenever used, the words, singular number shall include the plural, the plural the singular, and the use of any gender shall be applicable to any other. IN WITNESS WHEREOF, I have entered my hand and seal this 6th day of January in the year of our Lord one thousand nine hundred and fifty-three. Signed and sealed in presence of: Leroy C. Whitford ODMON B. BENNETT (SEAL) STATE OF RHODE ISLAND County of Washington In South Kingstown, on the 6th day of January, A. D. 1953, before me personally appeared the above named Oddmon B. Bennett to me known and known by me to be the party executing the foregoing instrument, and he acknowledged said instrument by his executed to be his free act and deed. LEROY C. WHITFORD Notary Public Received for record January 7th, A. D. 1953 at 4:56 o'clock, p.m., and recorded by [Signature] Town Clerk (FOR DISCHARGE OF ABOVE MORTGAGE, SEE PAGE 700)