8/18/1956 · MORTGAGE · book 35 page 439 doc 5052@35/439

439 MORTGAGE DEED We, HENRY S. BRIGHTMAN and FAITH I. BRIGHTMAN, husband and wife, both of the Town of Charlestown, in the County of Washington and State of Rhode Island, hereinafter called the mortgagors, for consideration paid, grant to WESTERLY SAVINGS FUND AND LOAN ASSOCIATION, 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 mortgagees, with MORTGAGE COVENANTS, to secure the payment of Four thousand ($4000.00) Dollars, with interest thereon at the rate of 5% per annum as specified in a certain negotiable promissory note of the mortgagors of even date herewith, said principal and interest being payable in 144 monthly installments of Thirty-seven and seventy-nine and 00/100 ($37.79) Dollars each on the Seventeenth (17th) day of each successive month commencing September 17th, 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 improvement now or hereafter erected thereon, all the hereditaments, appurtenances and other things thereunto belonging or in any wise now or hereafter appertaining, and together with and including as part of the realty, all heating and air-conditioning apparatus, plumbing, stoves, doors and windows, gas, oil and electric fixtures, screens, screen doors, awnings, and other fixtures of the whatever kind or whatever seen or premises described or placed thereon prior to the full payment and discharge of this mortgage, situated in the Town of Charlestown, Rhode Island, on the west side of Hoxie Avenue, Sunrise Acres Plat, and bounded and described as follows: Lot #31 on a certain plan or plat entitled, "Sunrise Acres, property of Charlestown Estates, Inc., Quonsettown, Charlestown, R.I., scale 1 equals 40 feet, November, 1954," dated November 7, 1954, said plat being recorded in the Land Evidence Records of said Town of Charlestown in Plat Book 2, pages 28 and 29, and bounded and described as follows, to wit: Beginning at the southeasterly corner of the parcel herein conveyed at a point on the westerly line of Hoxie Avenue, so called; thence northerly along the said westerly line of Hoxie Avenue to a point 175 feet from the said southeasterly corner of the parcel herein conveyed, thence turning a right angle and extending westerly 157 feet, more or less, to a stone wall on the westerly line of the parcel herein conveyed; thence turning a right angle and extending south said wall 75 feet, more or less, to the southeasterly corner of the parcel herein conveyed; thence turning a right angle and extending easterly 157 feet, more or less, to the said point of beginning; and said parcel of land is bounded northerly by the western part of avian Poweis property, southerly by the land of Harold G. Wirsen and wife, easterly by Hoxie Avenue, so-called, and westerly by land of Francis L. Moore, et al. Being the same premises conveyed to said Henry S. Brightman and Faith I. Brightman by A. Perretti by a deed dated August 19th, 1956 or to be recorded hereon in the Land Evidence Records of said Town of Charlestown in Book 35, page 439, to include all the easements and rights-of-way and other privileges described in said deed, which deed and the record thereof are hereby referred to as part of this mortgage. This is a construction loan mortgage, the mortgagors having appli-d to the mortgagees for a loan of $4000.00 to be expended by the mortgagors on the above described premises upon which a building is to be erected and improved according to plans and specifications, the mortgagees agreeing that $2000.00 is to be advanced and paid over to said mortgagors at the time of the execution and delivery of this mortgage and the promissory note, and the remainder of the loan to be advanced as the work progresses, the balance, to wit: $1000.00 is to be paid over to said mortgagors in installments upon the rules and regulations of the mortgagees, and the sum of work or value of work to be completed. This mortgage is made upon the STATE CONSTRUCTION and with the STATUTORY POWER OF SALE provided; however, the mortgagees may waive said power of sale elsewhere at the option of the mortgagees, as specified in notice of the sale such a mortgage. This mortgage is made subject to above additional agreements and covenants contained in that instrument entitled "GENERAL OBLIGATIONS OF MORTGAGOR" WESTERLY SAVINGS FUND AND LOAN ASSOCIATION executed by the mortgagors, a copy of which this day been received by the mortgagors, the execute and delivery of which is referred to as part of this mortgage, recorded in Land Evidence Records of Charlestown in Book 35, pages 33-34. Said agreements and covenants are by reference made part of this mortgage, and if default shall be made in the performance of any of said agreements, it shall be lawful for the mortgagees to sell the above described premises pursuant to said STATUTORY POWER OF SALE. And for and the consideration aforesaid we, the said mortgagors, release to the mortgagees all our right of dower and curtesy and all other rights, statutory otherwise, in the aforementioned premises. WITNESS our hands and seals this 17th day of August 1956. HENRY S. BRIGHTMAN (SEAL) FAITH I. BRIGHTMAN (SEAL) Executed in presence of Henry S. Brightman Nelson H. Thorp STATE OF RHODE ISLAND County of Washington In Westerly on the 17th day of August 1956, before me personally appeared the above named Henry S. Brightman and Faith I. Brightman, to me and known by me to be the parties executing the foregoing Instrument, and they acknowledged said instrument by them executed to be their free act and deed. NELSON H. THORP (Notarial Seal) Notary Public (SEE PAGE 440 FOR DISCHARGE OF ABOVE MORTGAGE)