10/14/1953 · MORTGAGE · book 33 page 649 doc 3651@33/649

649 KNOW ALL MEN BY THESE PRESENTS: That We, John A. Dyson and Lois S. Dyson, husband and wife, (hereinafter called the mortgagors), both of the Town of Charlestown, County of Washington, State of Rhode Island, in consideration of Two thousand and 00/100 ($2000.00) Dollars to us paid by the WASHINGTON TRUST COMPANY, a Corporation created by Act of the General Assembly of the State of Rhode Island, located and having its principal place of business in the Town of Westerly, County of Washington and State of Rhode Island, the receipt whereof is acknowledged, do hereby grant, bargain, sell and convey unto the said Washington Trust Company, its Successors and Assigns, forever, A certain tract or parcel of land with all buildings and improvements erected thereon, situated in the Town of Charlestown, County of Washington and State of Rhode Island, and bounded and described as follows: Beginning at a point on the easterly side of the State Highway leading from the Village of Charlestown to the Village of Ozone; Wit: at the northwesterly corner of premises formerly of George H. Dyson and the southeasterly corner of premises formerly of George H. Dyson; thence running Northwesterly, bounded westerly by said State Highway, a distance of 569 feet, or more or less, to a corner of a wall; thence running Easterly, bounded Northerly or other land as follows: thence running Easterly, a distance of 400 feet to a point in a stone wall; thence turning and running in a straight line, bounded easterly by other land, a distance of 569 feet, or more or less, to a corner of a wall; thence it comes to a point on the northerly boundary of said Dyson land, a distance of 400 feet easterly from the point of beginning; thence running westerly bounded southerly by said Dyson land, a distance of 400 feet, sense to, or to the point of place of beginning. Subject to easement of the Narragansett Electric Company. Being the same premises conveyed to John A. Dyson and Lois S. Dyson by deed dated October 14, 1950 from George H. Dyson and Earl B. Pelton, dated July 12, 1950 and recorded in Land Evidence Records of said Town of Charlestown, R. I., Book 32 at a page 182. TO HAVE AND TO HOLD the aforementioned premises, with all the appurtenances, unto and to the use of the said Washington Trust Company, its Successors and Assigns, forever. And We the said mortgagors do hereby for ourselves and for our heirs, executors, administrators, covenant with the said Washington Trust Company, its Successors and Assigns, that we are lawfully seized in fee simple of the said granted premises; that the same are free from all incumbrances; that we have good right, full power and lawful authority to sell and convey the same in the manner aforesaid; that the said Washington Trust Company, its Successors and Assigns, shall by these presents at all times hereafter peaceably and quietly have and enjoy the said premises, and that we the said mortgagors will, and our heirs, executors and administrators, shall warrant and defend the same to the said Washington Trust Company, its Successors and Assigns, forever, against the lawful claims and demands of all persons, and will also pay the moneys, taxes, assessments and other expenses hereby secured as hereinafter provided. PROVIDED, NEVERTHELESS, that if, the said mortgagors, or their heirs, executors, administrators or assigns, shall pay unto the said Washington Trust Company, its Successors or Assigns, the sum of Two Thousand and 00/100 ($2000) Dollars at its Banking House in Hope Valley, R. I. six (6) months from the date hereof, with interest thereon, at the rate of five (5%) per centum per annum, payable in advance until said principal sum is paid, whether at or after maturity, and all installments of interest in arrear, whether, or before or after maturity, to be interest at the rate aforesaid until paid; as provided in a certain negotiable promissory note of even date herewith; and shall also pay all taxes and assessments of every kind assessed or imposed upon or in respect of said premises or upon said Washington Trust Company, its Successors or Assigns, in respect of this mortgage or mortgage debt, whether under statutes now in force or by that may be hereafter enacted, and shall maintain insurance, on said premises as hereinafter provided and pay the premiums therefor upon demand, all of said payments to be paid at the several times of payment in currency of the United States, then this deed as also promissory note whereby said mortgagors promise to pay said Washington Trust Company or order the sum aforesaid with interest as aforesaid at the times aforesaid, shall become and be absolutely void to all intents and purposes whatsoever. BUT IF DEFAULT shall be made in the payment of the said certain promissory note of even

650 date herewith as to the payment of the principal sum or of 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 either of them or of any part thereof, or if breach shall be made of the covenant for insurance hereinafter contained, then it shall be lawful for the said Washington Trust Company, its Successors or Assigns, to sell, together or in parcels, all and singular the premises hereby granted, or intended to be granted, or any part or parts thereof, and the benefit and equity of redemption of the said mortgagors and of the said mortgagors' heirs, executors, administrators and assigns therein, at public auction, and to bid for and become the purchaser at any such sale, and no other person shall be answerable for the application of the purchase money, first giving notice of the time and place of sale, by publishing the same at least once each week for three successive weeks in some newspaper published in Washington County with power to adjourn such sale from time to time, provided that the publication of said notice shall be continued, together with a notice of the adjournment or adjournments, at least once each week in the same newspaper; and such sale to be upon the premises or elsewhere as specified in said notice; and in its or their own name names or names, or as the attorney or attorneys of the said mortgagors (for that purpose by these presents duly authorized and appointed with full power of substitution and revocation), to make execute and deliver to the purchaser or purchasers at such sale or sales, sales, good and sufficient deed or deeds of the premises sold in fee simple; and to receive the purchase moneys, and therefrom to retain all sums hereby secured, whether then payable or to be come payable thereafter, or the part thereof then remaining unpaid, and also the interest then due on the same, together with all expenses incident to such sale or sales, and all counsel fees and other expenses, incurred in, or in any way connected with, the exercise of those powers and all premiums for insurance, either heretofore paid by the said Washington Trust Company, its Successors or Assigns, or then remaining un- paid, rendering and paying the surplus of said purchase moneys, if any there be over and above the amounts so to be retained as aforesaid, together with a true and particular account of such sale or sales, expenses or charges, to the said mortgagors, their heirs, executors administrators or assigns, which sale or sales shall be forever a perpetual bar both in law and equity against all persons then and against the said mortgagors and the said mortgagors' heirs, executors, administrators and assigns, and all persons claiming said premises so sold by, from or under them or any of them. As And we the said mortgagors, for ourselves and for our heirs, executors, administrators, and assigns, hereby covenant with the said Washington Trust Company, its Successors and As- signs, that we or they will upon request execute such deed or deeds confirmatory of such sale or sales as may be necessary or desirable. And FURTHERMORE, we, the said mortgagors, for ourselves and for our heirs, executors, administrators and assigns, hereby covenant with the said Washington Trust Company, its Successors and Assigns, that insurance against loss by fire or any other casualty which may be specified by the said mortgagee shall be kept and maintained on the buildings on the premises afore- said in such office or offices as the said Company, its Successors and Assigns, shall approve, in a sum not less than two Thousand and 00/100 ($2000) Dollars or in such greater amounts as will prevent the operation of co-insurance clauses contained in such policies of insurance, and that the policy or policies of such insurance shall be assigned and transferred, or made payable in case of loss, to the said Washington Trust Company, its Successors and Assigns, as collateral security hereto, and in default thereof hereby agree that the said Washington Trust Company, its Successors or Assigns, may pay from time to time any premiums which may be necessary to maintain existing insurance or may effect new insurance; and the said mortgagors for themselves and for their heirs, executors, administrators and assigns agree to repay to the said Washington Trust Company, its Successors or Assigns, upon demand any premiums paid by it or them, and if not repaid, the same shall be added to said principal sum and shall be a further charge upon said said premises granted and secured by these presents, as aforesaid.

651 IN WITNESS WHEREOF, We have hereunto set our hands and seals this 13th day of October A. D. one thousand nine hundred and fifty-three. Signed, Sealed and Delivered } JOHN A. DYSON in presence of } LOIS S. DYSON Robert P. Mitchell } STATE OF RHODE ISLAND, } County of Washington } In Hopkinton on the 13th day of October A. D. 1953 before me personally appeared the above named mortgagors John A. Dyson and Lois S. Dyson, each and all to me 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. ROBERT P. MITCHELL Notary Public Received for record October 14th, A. D. 1953 at 9:15 o'clock, a. m., and recorded by [Signature] Town Clerk ---- THE WASHINGTON TRUST COMPANY in the Town of Westerly, County of Washington, State of Rhode Island, having received full payment and satisfaction of the within mortgage, recorded in the Records of Charlestown in Real Estate Mortgage Book Number 33 Page 649-650-651 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 hereunto affixed by its Treasurer duly authorized this 19th day of January A. D. 1956. Signed and Sealed } THE WASHINGTON TRUST COMPANY (Corporate Seal) in presence of } by David Robertson, Treas. John B. Nudge } Received for record January 21st, A. D. 1956 at 10 o'clock, a. m., and recorded by [Signature] Town Clerk