2/21/1939 · MORTGAGE · book 27 page 547 doc 37@27/547

547 KNOW ALL MEN BY THESE PRESENTS, That We, EDWARD NELSON and MYRTLE E. NELSON, both of the Town of Charlestown, County of Washington and State of Rhode Island (hereinafter called "Mortgagor"), for consideration paid grant, bargain, sell and convey in fee simple to DISASTER LOAN CORPORATION, a corporation created under the laws of the United States of America, and having its principal place of business in the City of Washington, District of Columbia (hereinafter called "Mortgagee"), with MORTGAGE COVENANTS to secure the payment of the sum of Five Hundred Dollars, evidenced by a promissory note of even date herewith at interest thereon at three per centum (3%) per annum under the terms and conditions thereof. That certain real estate situated in Charlestown, County of Washington, State of Rhode Island, and described as follows: (DESCRIPTION) That certain tract or parcel of land with all the buildings and improvements thereon situated in the Town of Charlestown, County of Rhode Island, bounded and described as following: Beginning at the southeasterly corner of that land of J. S. Phipps Stokes the northeasterly corner of the hereby conveyed tract said corner being three hundred Thirty (330) feet, more or less, southeasterly of the southeasterly corner of the Town Highway leading from the corner of the land of George and Sarah Moore River Street to the southwesterly thence southeasterly, bounding northerly and easterly by said Stokes land, a distance of Seventy-seven (77) feet, more or less, to the southeasterly corner of said Stokes land, thence westerly, thence easterly, bounding southerly by said Stokes land a distance of Twenty-five (25) feet, more or less, to the southeasterly corner of the land of J. S. Phipps Stokes, thence in a northerly and southeasterly directions thence northeasterly, following the course of said river a distance of One hundred and fifty (150) feet, more or less, to a stone wall, and other stone walls running in an easterly and westerly direction thence westerly, following the course of said river a distance of One hundred and twenty (120) feet, more or less, to a stone wall, Twenty-eighty seconds metre (28.27) feet, more or less, to the start and place of beginning, or however otherwise the same may be bounded and described. Being premises conveyed to our selves by deed of Gabriel Nelson, et ux. recorded in the Records of Land Evidence of Charlestown, Rhode Island, in Book 26 at page 413. together with the hereditaments and appurtenances thereunto belonging. This mortgage is made upon the STATUTORY CONDITION and with the STATUTORY POWER OF SALE. ADDITIONAL COVENANTS AND CONDITIONS Mortgagor further covenants that they will commit, permit or suffer no waste, impairment or deterioration of said property or any part thereof and to perform, comply with and abide by all stipulations, agreements, conditions, covenants and covenants in said promissory note and in this Mortgage set forth and in the agreements executed by Mortgagor in connection therewith and incorporated herein. And Mortgagor hereby covenants with said Mortgagee, to assign, and by these Presents does hereby assign to said Mortgagee, any and all rents of the premises herein described subject, however, to any and all existing assignments of such rents, with full power in said Mortgagee to collect such rents. Mortgagor hereby covenants that in the event the ownership of the mortgaged premises become vested in a person other than the Mortgagor, the Mortgagee, may, without notice to the Mortgagor, deal with such successor or successors in interest with reference to the mortgage and the debt hereby secured, in the same manner as with the Mortgagor, without in any way vitiating or discharging the Mortgagor's liability hereunder or upon the debt hereby secured. No sale of the premises hereby mortgaged and no foreclosure on the part of the Mortgagee, and no extension of time for the payment of the debt hereby secured given by the Mortgagee shall operate to release, discharge, modify, change or affect the original liability of the Mortgagor herein, either in whole or in part. And Mortgagor further covenants to pay promptly when due all taxes, assessments, levies, of every nature on said described property, and deliver the official receipt therefor to the Mortgagee. And Mortgagor further covenants to keep the improvements herein mortgaged insured against loss or damage by fire or otherwise under a mortgage clause approved by Mortgagee. In the event that said Mortgagee shall advance a further sum to or for the benefit of said Mortgagor, or directly in payment of taxes, assessments and insurance on said mortgaged