The instrument's own words
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552
KNOW ALL MEN BY THESE PRESENTS, That We, THURMAN F. ELDRIDGE and ELIZABETH M. ELDRIDGE, 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 Six Hundred Dollars, evidenced by a promissory note of even date herewith and interest thereon at three per centum (3%) per annum upon the terms and conditions thereof.
That certain real estate situate in the Town of Charlestown County of Washington, State of Rhode Island, and described as follows:
(DESCRIPTION)
Two certain tracts or parcels of land, with all the buildings and improvements thereon now standing and all the buildings and improvements to be erected thereon, bounded and described as following:
FIRST TRACT, Beginning at the southeast corner of the tract hereby conveyed and the northwest corner of the farmstead of William and Charles Wilson along the highway leading from Quonsetogue beach, Thence east along said highway one hundred (100) feet, thence northerly one hundred seventy (170) feet along the west line of said farmstead, feet, thence northerly and easterly; forty (40) feet, thence southerly and easterly forty (40) feet, thence south along the road forty (40) feet east from the first bound, thence westerly along the line of said highway bounded south by the highway forty (40) feet east to the place of beginning.
SECOND TRACT, Beginning at the northwest corner of said tract and at the northeast corner of the first tract hereinbefore described, thence running northeasterly bounded westerly by land of William and Charles Wilson and land formerly of D. S. and C. S. Babcock and of Jamie S. [?] and thence easterly along the old corner of said Fisher land to the boundary of the fence distance easterly along the old breach forty (40) feet, thence southerly one hundred forty (140) feet along the boundary of the northeast corner of said Fisher land, thence westerly one hundred forty (140) feet, thence northerly forty (40) feet to the place of beginning, or however otherwise either of said tracts of land may be bounded or described, together with all the buildings and improvements thereon now standing or that may be built or erected in the future on said above premises.
Being those premises conveyed to these Grantors by deed of Ernest W. Pinkham recorded in the Book of Land Evidence for the Town of Charlestown, in Book No 25 at Page 148.
Being those lots known as #10 and #10a and Answered on Plat #10 located on Main Street, Quonsetoguebeach, Charlestown Township, R. I.
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 and abide by all stipulations, agreements, conditions 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 Mortgagee 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 becomes 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 vitiating or discharging the Mortgagor's liability hereunder upon the debt hereby secured. No sale of the premises hereby mortgaged and no foreclosure on the part
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of the Mortgages, and no extension of the time for the payment of the debt hereby secured
given by the Mortgagors shall operate to release, discharge, modify, change or affect the
original liability of the Mortgagor herein, either in whols 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
property, then said Mortgagor further covenants and agrees that such sum or sums so advanced
shall be payable on demand and become a part of the principal secured by this instrument, with
interest thereon.
It is hereby agreed that Mortgagee or its Agents may purchase at any sale held pursuant to
the STATUTORY POWER OF SALE.
The terms used to designate any of the parties, or persons mentioned herein, shall be
deemed to include the heirs, legal representatives, successors and assigns of such parties.
And Thurman F. and Elizabeth M. Eldridge husband and wife the Mortgagors release to the
Mortgagees all our right of courtesy and dower and all other interest in the aforesaid described
premises.
IN WITNESS WHEREOF, said Mortgagor has executed these presents this Twentieth day of
February, 1939
WITNESSES:
Charles J. McCaig
as to both signatures
THURMAN F. ELDRIDGE (SEAL)
ELIZABETH M. ELDRIDGE (SEAL)
FOR INDIVIDUALS
STATE OF RHODE ISLAND)
County of Providence }
In Providence, in said County and State, on the 20th day of February A. D. 1939, before
me personally appeared Thurman F. Eldridge and Elizabeth M. Eldridge to me known and known by
me to be the parties executing the foregoing instrument, and they severally acknowledged said
instrument, by them executed, to be their free act and deed.
CHARLES J. MCCAIG (Notarial Seal)
Notary Public
Received for record February 23rd, A.D. 1939 at 1:15 o'clock, p. m., and recorded by
[Signature]
Town Clerk
The page as recorded
