5/17/1956 · MORTGAGE · book 35 page 305 doc 4905@35/305

305 MORTGAGE DEED I, MYRTLE GRINNELL, of the Town of Charlestown, in the County of Washington and State of Rhode Island, being unmarried, hereinafter called the mortgagor, for consideration paid, grant to THE WASHINGTON TRUST COMPANY, a corporation created by Act of the General Assembly of the State of Rhode Island, located and having its principal office and place of business in the Town of Westerly, County of Washington and State of Rhode Island, hereinafter called the mortgagee, with MORTGAGE COVENANTS, to secure the payment of Four thousand ($4000.00) Dollars, with interest thereon at the rates specified in a certain negotiable promissory note, of date herewith, said principal and interest being payable in monthly installments of Thirty-one and 63/100 ($31.63) Dollars each on the 15th day of each successive month commencing July 15, 1956 until said principal and interest are paid in full, all as provided in said note, the following described land, together with all buildings and other improvements now or hereafter erected thereon, all the appurtenances, appurtenments and rights thereunto belonging or by an ease now wise or hereafter appertaining, and together with and including as part of the realty, all heating and air-conditioning apparatus, plumbing, stoves, storm doors and windows, gas, oil and electric fixtures, screens, screen doors, awnings, and other fixtures of whatever kind on said premises or hereafter placed thereon prior to the full payment and discharge of this mortgage, situated in the Town of Charlestown, County of Washington and State of Rhode Island, and bounded and described as follows: Those two (2) certain lots or tracts of land, shown and delineated as Lots Number 31 and 32 on that certain plan or plat referred to in said deed entitled, "The Mariposa plat of land in Charlestown, R. I., Surveyed and Drawn by C. W. Minson, Way, 1889," Scale 80 feet per inch" said plat being filed in the Office of the Recorder of Land Evidence Town of Charlestown, and recorded in Book No. 2 Pages at 43 and 44. Said Lots Number 31 and 32 together form one tract, bounded and described as follows: SOUTHEASTERLY by Lot Number 30 of Hiram Hibbard, a distance of One Hundred (100) feet, as shown on said plat; WESTERLY by Lot Number 34, a distance of One hundred fifty (150) feet, as shown on said plat; NORTHWESTERLY by Lot Number 33 of Rupert Fitzgerald, a distance of One Hundred (100) feet, as shown on said plat; and EASTERLY by Lot Number 31, a distance of One Hundred fifty (150) feet, as shown on said plat. Being the same premises conveyed to said Myrtle Grinnell by Ruth H. Fitzgerald via a deed dated July 5, 1955 recorded in Book Page 58 of the Land Evidence Records of said Town of Charlestown. This is a construction loan mortgage, the mortgagor having applied for the mortgage gage for a loan of $4000.00 to be used in erecting a mortgage on the above described premises upon which a building and other improvements are in the process of construction. Of said sum, $333.33 is to be advanced and paid over to said mortgagor at the time of the execution of this deed, and the balance of $3666.67 of said loan is hereby acknowledged by the mortgagor, and the balance, to wit: $3666.67 is to be paid over to said mortgagor in installments as the rules and regulations of the mortgagee, as the work on said building progresses. This mortgage is made upon the STATUTORY CONDITION and with the STATUTORY POWER OF SALE, providing that a foreclosure may be had upon the premises or easements at the option of the mortgagee, as specified in the statutes. This mortgage is made subject to those additional agreements and covenants is that introductory mentioned entitled ADDITIONAL COVENANTS OF MORTGAGORS OF THE WASHINGTON TRUST COMPANY executed herewith, the mortgagor, of which the mortgagor is the signatory, a copy of which is attached hereto and forms part hereof, terms of which are on record said Town of Charlestown, Land Evidence Records Book 34 at page 305 and Book 35 at page 291, and the mortgagor agrees to be bound by said terms, and if default shall be made in the observance or performance of any of the same, it shall be lawful for the mortgagee to sell the above described premises pursuant to said STATUTORY POWER OF SALE. WITNESS my hand this 11th day of May, 1956. Executed in presence of James W. Shaw MYRTLE GRINNELL STATE OF RHODE ISLAND County of Washington In Westerly on the 11th day of May 1956, before me personally appeared the above named MYRTLE GRINNELL to me known and known by me to be the party executing the foregoing instrument, and she acknowledged said instrument by her executed to be her free act and deed. ADELAIDE R. SMITH (Notarial Seal) Notary Public Received for record May 17th, A. D. 1956 at 9:05 o'clock, a.m. and recorded by [Signature] Town Clerk (FOR DISCHARGE OF ABOVE MORTGAGE, SEE PAGE 306)