5/20/1944 · DEED · book 29 page 215 doc 46@29/215

331 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 said County of Washington, with power to adjourn such sale from time to time; pro- vided that if such adjournment be for one week or more the publication of such notice shall be continued, together with notice of any adjournment or adjournments, at least once each week in the same newspaper; such sale to be upon the premises or elsewhere as specified in such notice; and in its or their own name or names, or as the attorney or attorneys of the said mortgagors (for that purpose they does presently 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 a good and sufficient deed or deeds, in fee simple, in the premises of the sold properties; and to receive the purchase moneys and therefore to retain all sums hereby secured or required to be paid, whether then due or to fall due thereafter, or the part thereof then remaining unpaid, and also the interest due thereon up to the date, together with all expenses incident to such sale or sales, and all counsel fees and other expenses incurred or in any way connected with the exercise of these powers or with any proceeding or action concerning the enforcement thereof, or of said notice, or of these terms, and all taxes, assessments, insurance premiums and expenses of repairs, either therefore paid to date by the said Industrial Trust Company, its successors or assigns, or then remaining unpaid, render- ing and paying the surplus of such paid purchase moneys, if any there be, over and above the amount so to be retained as aforesaid, together with a true and particular account of such sale or sales, the expenses, charges and costs, 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 the said mortgagors, their heirs, executors, administrators, and assigns, and all persons claiming said premises so sold by, for or under them or any of them. And the said mortgagors, for themselves and for their heirs, executors, administrators, and assigns, hereby covenant with the said Industrial Trust Company, its successors and assigns, that they will upon request execute such deed or deeds confirmatory of such sale or sales as may be necessary or requested. AND FURTHERMORE, the said mortgagors, for themselves and for their heirs, executors, ad- ministrators, and assigns, for the consideration aforesaid and to further increase the security of this mortgage, do hereby covenant and agree with the said mortgagee, its successors and assigns, as follows: 1. To pay said promissory note and all sums of principal and interest due thereon in accordance with the terms thereof, and all taxes and assessments of every nature levied or to be levied prior to the payment in full of said promissory note, and all interest and other premiums on the mortgage up to the payment, its successors or assigns in respect to this mort- gage or mortgage induced loans, and all expenses of foreclosure or future costs of foreclosure for insurances maintained upon said premises, and all water rates and other expenses hereby secured as herein after set forth. 2. To keep and maintain against insurance loss in full and by such fire and other hazards, casualties and contingencies, in such amounts, for such periods, in such form and in such company or companies as the mortgagee may from time to time approve, and to pay promptly when due all premiums on such insurance; from time to time specify, and to pay promptly when due all premiums on such insurance; to make all policies of insurance payable in case of loss to the mortgagee by the clauses satisfactory to the mortgagee and to deliver the policies to the said Industrial Trust Company or other holder of the mortgage for this time the borrowing is hereby made, continuing approved satisfactory to the mortgagee and to maintain such insurance and to demand, adjudge, sue for, compromise and collect any and all losses which may occur under any such insurance, and to apply the same, after deducting any expenses incurred in connection with such losses, and to apply the same, after deducting any expenses incurred in connection with such losses, and to apply the same, after deducting any expenses incurred in connection with such losses, and to apply the same, after deducting any expenses incurred in connection with such losses, and to apply the same, after deducting any expenses incurred in connection with such losses, and to apply the same, after deducting any expenses incurred in connection with such losses, and to apply the same, after deducting any expenses incurred in connection with such losses, and to apply the same, after deducting any expenses incurred in connection with such losses, and to apply the same, after deducting any expenses incurred in connection with such losses, and to apply the same, after deducting any expenses incurred in connection with such losses, and to apply the same, after deducting any expenses incurred in connection with such losses, and to apply the same, after deducting any expenses incurred in connection with such losses, and to apply the same, after deducting any expenses incurred in connection with such losses, and to apply the same, after deducting any expenses incurred in connection with such losses, and to apply the same, after deducting any expenses incurred in connection with such losses, and to apply the same, after deducting any expenses incurred in connection with such losses, and to apply the same, after deducting any expenses incurred in connection with such losses, and to apply the same, after deducting any expenses incurred in connection with such losses, and to apply the same, after deducting any expenses incurred in connection with such losses, and to apply the same, after deducting any expenses incurred in connection with such losses, and to apply the same, after deducting any expenses incurred in connection with such losses, and to apply the same, after deducting any expenses incurred in connection with such losses, and to apply the same, after deducting any expenses incurred in connection with such losses, and to 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332 3. To keep and maintain the exterior and interior of the buildings and improvements on the premises described in this mortgage at all times until full payment and discharge hereof recorded in a deed of release and register as the same now or may hereafter be put in, and to permit said Industrial Trust Company, its successors and assigns, and its officers, agents and servants, to enter upon the mortgage premises from time to time and at reasonable times to view and inspect the same. 4. That the mortgagee, its successors and assigns, may pay all taxes, assessments, water, sewer or insurance premiums not paid by the mortgagors when due, and all of such sums shall be added to the principal sum of the indebtedness hereby secured and shall bear interest at the same rate as said indebtedness until paid and together with such interest shall be a functor charge upon the mortgage premises and secure by a trust with payments. 5. That if the mortgagors be declared bankrupt or insolvent or make an assignment for the benefit of any creditor or be placed under control of or in custody of an authority competent to act over their person and property, then it is agreed that the mortgagee is hereby authorized and empowered at its option, without notice and without prejudice to its lien hereby created or the priority of said lien or any right of the mortgagee hereunder to declare all sums secured hereby immediately due and payable. IN WITNESS WHEREOF, the said mortgagors have hereunto set their hands and seals this 28th day of March, A. D. one thousand nine hundred forty-seven. Signed, Sealed and delivered in presence of Hiram Kendall as to both JOHN R. ALGIERE EILEEN B. ALGIERE STATE OF RHODE ISLAND, } } ss. County of Washington } In Westerly, on the 28th day of March, A. D. 1947, before me personally appeared the above named John R. Algiere and Eileen B. Algiere, husband and wife, each and all to me known and known by me to be the parties executing the foregoing instrument, and severally acknowledged said instrument, by them executed, to be their free act and deed. HERBERT E. COOKE Notary Public. Received for record March 29th, A. D. 1947 at 9:10 o'clock, a. m., and recorded by [Signature] Town Clerk Industrial Trust Company, having received full payment and satisfaction of the within mortgage, 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 Manager & the Asst. Mgr. of its Westerly Branch duly authorized, this 19th day of October, 1948. Signed and sealed in presence of Lillian O. Coates INDUSTRIAL TRUST COMPANY (Corporate Seal) by Hiram Kendall Manager Thomas Butcliffe Asst. Manager. Received for record October 20th, A. D. 1948 at 9:00 o'clock, a. m., and recorded by [Signature] Town Clerk