1/6/1941 · EASEMENT · book 28 page 374 doc 4@28/374

401 MORTGAGE KNOW ALL MEN BY THESE PRESENTS: That Victor Tougas and Marie R. Tougas, husband and wife, of Charlestown, Rhode Island, hereinafter called the Mortgagor, in consideration of the sum of Twenty-five Hundred and 00/100 Dollars ($2500.##), paid to him by The National Shawmut Bank of Boston, a corporation organized and existing under the laws of the United States of America, hereinafter called the Mortgagee, the receipt whereof is hereby acknowledged, does hereby give, grant, bargain, sell and convey unto the Mortgagee, its successors and assigns, forever, all that certain real estate located in the Town of Charlestown, County of Providence, State of Rhode Island, described as follows: The part of land, with the buildings and improvements thereon, laid out as follows: Beginning at a point on the northeasterly side of the State Highway leading from the Village of Charlestown to Wood River Junction, said point being distance Hundred and Fifty feet easterly from the stone bound set in the ground at the southwestern corner of premises of William J. Gardner, at three turns; turning an interior angle of ninety and nine degrees ninety nine minutes, and turning an interior angle of ninety three degrees and eighty nine minutes an exterior line hundred twenty-five (125) feet; thence turning an interior angle of one hundred eighty three degrees and seventy three minutes an exterior line three hundred (300) feet, to said State Highway; thence turning and running westerly, bounded southerly by said State Highway, three hundred fifty-five (355) feet, to the point of beginning. The point of beginning hereinbefore referred to is 125 feet from the stone bound at the southwest corner of the Gardner land, as measured along and parallel to the curve of the said northerly line of the State Highway. Reference is made to deed dated July 5, 1940, and to corrective deed dated September 10, 1940, recorded in Book 28 at page 28 of the Charlestown Records. including all buildings and improvements thereon, or that may be hereafter erected thereon; together-with the hereditaments and appurtenances and all other rights thereunto belonging or in anywise now or hereafter appertaining, and the reversion and reversions, remainder and remainders, rents, issues and profits thereof, and all plumbing, heating and lighting fixtures and equipment now or hereafter attached to, or used in connection with the said premises. TO HAVE AND TO HOLD the aforementioned premises, with their appurtenances, unto and to the use of the Mortgagee, its successors and assigns, forever. And the Mortgagor covenants that he is lawfully seized of the said premises in fee simple; that they are free of all encumbrances except as aforesaid; that he has good right, full power and lawful authority to sell and convey the same in the manner aforesaid; and that he will warrant and defend the same to the Mortgagee, forever, against the lawful claims and demands of all persons. And for the consideration aforesaid, the said mortgagors do hereby release all right of curtesy and dower in and to the premises unto the Mortgagee, its successors and assigns, forever. If this mortgage and the note secured hereby are not insured under the provisions of the National Housing Act before the 4th day of June, 1941, the principal remaining unpaid with all interest due and accrued to date of Payment shall become due and payable in or within thirty (30) days from said date. PROVIDED, NEVERTHELESS, that this conveyance is made upon the express condition that if the Mortgagor shall pay to the Mortgagee the principal sum of Twenty-five Hundred and 00/100 Dollars ($2500.##), as evidenced by a promissory note of even date herewith, the terms of which are incorporated herein by reference, together with interest thereon from date at the rate of four & 1/2 per centum (4%##) per annum until said, principal and interest being payable at the office of The National Shawmut Bank of Boston in Boston, Massachusetts, or at such other place as the holder hereof may designate in writing, in monthly installments of Thirteen and 90/100 Dollars ($13.90), commencing on the first day of March, 1941, and on the first day of each month thereafter until the principal and interest are fully paid, except that the final payment of principal and interest, if not sooner paid, shall be due and payable on the first day of February, 1966; and shall fully perform all the terms, conditions and covenants of this mortgage, as well as of the note secured hereby, then this instrument, as well as the note secured hereby, shall be void.

403 4. That he will pay all taxes, assessments, water rates, and other governmental or municipal charges, fines or impositions, for which provision has not been made hereinbefore, and in default thereof the Mortgagee may pay the same, and all sums so advanced shall become an advance of the principal sum of this Mortgage hereby; and that he will promptly deliver the official receipts therefor to the Mortgagee. 5. That he will keep the premises in as good order and condition as they are now, and shall not permit or cause any waste thereof, reasonable wear and tear excepted. 6. That any policies of insurance on the premises now or hereafter conveyed hereby mortgaged and transferred, or made payable in case of loss, to the Mortgagee, as additional security hereto. If the Mortgagor fails to make any payments for insurance premiums as provided for in subsection (b) hereinbefore, the Mortgagee may pay the same for the account of the Mortgagor, and all sums so paid shall bear interest at the rate of five per centum (5%) per annum from the date of payment to the date of reimbursement; and that if the premises hereby mortgaged, or any part thereof, shall be damaged by fire or other hazard against which insurance is held as hereinbefore provided, the Mortgagee may apply the proceeds of any insurance recovery, to the extent of the insurance contract, to the insurance of the extent, to the indebtedness then remaining unpaid, be it for the paying in the Mortgage, or for the repairing or rebuilding of the premises. If there shall be a default in any of the terms, conditions or covenants of this Mortgage, or under the note secured hereby, it shall be lawful for the Mortgagee to sell, together or in parcels, all or singular the premises hereby granted or intended to be granted, or any part thereof, and the proceeds of such sale shall be applied to the payment of Victor Tougas and Marie R. Tougas, the said Mortgage, their heirs, executors, administrators and assigns therein, at public auction upon the premises, and so on further and so become the purchase money of the purchaser or purchasers, and if no other purchaser or purchasers shall be responsible for the application of the purchase money, after first giving notice of the time and place of sale by publishing a notice thereof once a week for three successive weeks in some newspaper published in Washington County, Rhode Island, together with a notice of the time and place of sale, to be published once a week following the publishing of the notice that the sale shall be continued, together with a notice of the adjournment or postponement, at least one week prior to the date of such continued sale, to Victor Tougas and Marie R. Tougas, or to their attorneys or attorney of the Mortgagees, Victor Tougas and Marie R. Tougas, or to their heirs, executors, administrators or assigns, by registered or certified mail, with full power of substitution and revocation), to make, execute and deliver to the purchaser or purchasers aforesaid, a quit claim deed of the premises sold, or of the part thereof sold, in several or single form, and to receive the proceeds of such sale or sales, and from such proceeds to remunerate all sums due upon the note secured hereby, together with interest thereon as may be accrued thereto then remaining unpaid, and also the interest then due on the same, together with all expenses including attorney's fees, costs of the sale, and all other costs and expenses incurred in the exercise of said powers and all taxes, assessments, and premiums paid for insurance, if any, whether either therefore paid by the Mortgagor or the Mortgagee; and if any sum, there be over, and above the amounts so to be remunerated as aforesaid, the balance of such proceeds shall be paid to Victor Tougas and Marie R. Tougas, the mortgagor which sale, or sales made, as aforesaid aforementioned, shall forever convey a full power and absolute title to the premises sold, to the purchaser or purchasers, Victor Tougas and Marie R. Tougas the said mortgagor, their heirs, executors, administrators and assigns, and all persons claiming same will be barred from any right, title, claim or demand thereto, and the Mortgagee shall, upon request, execute such deed or deeds confirmatory of such sale or sales as may be required. Notice of the exercise of any option granted herein, or in the note secured hereby, is not required to be given. The covenants herein contained shall bind, and the benefits and advantages shall inure to, the Mortgagor and the Mortgagee, their respective heirs, executors, and assigns and of the parties hereto. Whenever used, the singular number shall include the plural, the plural the singular, and the use of any gender shall be applicable to all genders. WITNESS the hand(s) and seal(s) of the Mortgagor(s) this 1st day of February 1941. Signed, sealed and delivered in presence of: HAROLD J. MCLAUGHLIN VICTOR TOUGAS (SEAL) MARIE R. TOUGAS (SEAL) STATE OF RHODE ISLAND { ss: County of Washington } In Charlestown, on the 12th day of March, A. D. 1941, personally appeared the above named Victor Tougas and Marie R. Tougas, each and all to me known, and known by me to be the parties executing the foregoing instrument, and severally acknowledged same instrument by them executing to be their free act and deed. HAROLD J. MCLAUGHLIN Notary Public. Received for record March 12th, A. D. 1941 at 4:10 o'clock, p. m., and recorded by [Seal] Town Clerk (For Assignment of above Mortgage, see Page 615) (For Discharge of above Mortgage, see Page 476)