2/1/1954 · AGREEMENT · book 34 page 40 doc 3740@34/40

156 will upon request execute such deed or deeds confirmatory of such sale or sales as may be necessary or advisable. AND FURTHERMORE, the said mortgagors, for themselves and for their heirs, execu- tors, administrators and assigns, for the consideration aforesaid and to further increase the security of this mortgage, do hereby covenant agree and to agree and with the said mortgage, and its successors and assigns, as follows: 1. To pay all indebtedness hereby secured in accordance with the tenor of the said note, and to pay all taxes and assessments of every nature levied upon said premises or upon the mortgage, its successors or assigns, in respect to this mor- tgage or any mortgage induced thereby, and the parties not in favor of which or hereafter incurred, all premiums for insurance maintained upon said premises, all rents, and all other water rates and expenses hereby secured as a prior lien. 2. To keep and maintain insurance against loss by fire to the buildings upon the said premises, payable in case of loss to said mortgage, its successors and assigns in an amount not less than the sum of Ten Thousand (10,000) dol- lars and not less than the loss amount necessary to prevent the operation of co- insurance, with an insurance company or companies in the State of Rhode Island satisfactory to the mortgage, its successors and assigns, who are hereby authorized to cancel any such insurance policy or policies, and agents or companies who may select any insurance effect upon said buildings by the mortgagors, or their heirs, executors, administrators and assigns, to be payable, and the policies thereof to be delivered to the mortgage, its successors and assigns, and to be hereby making, constituting and appointing the President or Secretary for the time being of the INDUSTRIAL NATIONAL BANK OF PROVIDENCE, Rhode Island, or its successors, their true and lawful attorney or attorneys aforesaid, irrevocable, in their name and stead but in the uncontrolled discretion of said attorney, to amend, adjust, sum set the insurance, to cancel any such insurance, whether in whole or in such insurance, giving to discharge receipts for any and all sums received in settlement of such losses to reimburse the mortgage, its successors and assigns, including reasonable attorneys fees (fees) incurred in connection with such settlements, and to deliver the remainder thereof be said mortgagors, or their heirs, executors, administrators and assigns, and to collect any unearned premium or of dividend upon any cancelled insurance, notwithstanding any opposite provision in any policy or policies upon said premises, and to apply, at their election in whole or in part upon any installments within the indebtedness hereby secured, or upon any taxes due, or in reimbursement of advances for tax- taments, assessments or insurance premiums, or upon the cost of replacing or re- storing the damaged buildings or improvements. 3. To maintain all buildings upon said premises in good repair, and not to cause or permit to be removed any building thereon without first obtaining written consent of the mortgage, its successors and assigns. 4. That all amounts advanced by the mortgage, its successors and assigns for the payment of taxes, assessments, or premiums of insurance premiums shall be re- paid upon demand, and until with repaid shall be added to the unpaid principal of the 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 first day of February, A. D. one thousand nine hundred and forty. SIGNED, SEALED AND DELIVERED IN THE PRESENCE OF: HENRY HARRIS RIPLEY G. LINEMAN GEORGE V. BLIVEN (SEAL) ANNIE BLIVEN (SEAL) STATE OF CONNECTICUT) County of New London) ss. In Pawcatuck, on the first day of February, A. D. 1940, before me personally appeared the above named George V. Bliven and Annie Bliven, husband and wife, each and said to me known and by me to be the parties executing the foregoing Instrument, and voluntarily acknowledged said instrument, by them executed, to be their free act and deed. HENRY HARRIS (Notarial Seal) Notary Public The Westerly Savings Fund and Loan Association, having received full payment of the principal In testimony whereof, said Association has caused its corporate seal to be hereunto affixed by the In presence of: WESTERLY SAVINGS FUND AND LOAN ASSOCIATION By [?] (Corporate Seal) Received for record February 1rd, A. D. 1940 at 9:00 o'clock, a. m., and recorded by Town Clerk Received for record June 18th, A. D. 1952 at 9:35 o'clock, a. m., and recorded by Town Clerk [Margin note: The Westerly Savings Fund and Loan Association, having received full payment of the principal due on this mortgage, does hereby cancel and discharge the same.]