12/27/1956 · MORTGAGE · book 35 page 585 doc 5208@35/585

585 I, MARY C. MOLLOY, of the City of Providence, in the State of Rhode Island, for consideration paid, grant to JAMES J. GALLEN, JR. and WINIFRED M. GALLEN, husband and wife, both of said City of Providence, in said State, as JOINT TENANTS and not as tenants in common with WARRANTY COVENANTS (Description, and Encumbrances, if any) Those two (2) certain lots of land, with all the buildings and improvements thereon, situated on Burdick Street and Charlestown Beach Road, in the Town of Charlestown, in the State of Rhode Island, laid out and designated as lots 997 (nine hundred seventy-seven) and 978 (nine hundred seventy-eight) on that plat entitled "Charlestown by the Sea" Charlestown R. I. owned & developed by Thomas F. Reilly July 25, 1934 K. W. Leighton, Civil Engineer, New Haven, Conn." which plat is recorded in the office of the Town Clerk in said Town of Charlestown in Plat Book 2 between pages 14 and 15. Said premises are conveyed subject to restrictions of record. I, said Mary C. Molloy, hereby covenant that I am unmarried. WITNESS my hand and seal this 24th day of December, 1956. MARY C. MOLLOY (SEAL) In presence of: Katherine M. Ryan (DOCUMENTARY STAMPS, $1.10) STATE OF RHODE ISLAND } County of Providence } In Providence on the 24th day of December, 1956 before me personally appeared Mary C. Molloy 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. KATHERINE M. RYAN Notary Public Received for record December 27th, A. D. 1956 at 10:09 o'clock, a. m., and recorded by [?] Town Clerk ---- KNOW ALL MEN BY THESE PRESENTS: That We, JAMES J. GALLEN, JR. and WINIFRED M. GALLEN, husband and wife, both of the City of Providence, in the State of Rhode Island, (hereinafter called the mortgagor(s) in consideration of SIXTY-FIVE HUNDRED ($6500.00) Dollars to us paid by the OLD COLONY CO-OPERATIVE BANK, a corporation legally incorporated, and established and transacting business in the City of Providence in the State of Rhode Island, the receipt whereof is acknowledged, do hereby grant, bargain, sell and convey unto the said OLD COLONY CO-OPERATIVE BANK (hereinafter called the mortgagee(s), its successors and assigns, forever, Those two(2) certain lots i.e., situated on Burdick Street and Charlestown Beach Road, laid out and designated as lots 997 (nine hundred seventy-seven) and 978 (nine hundred seventy-eight) on the plat entitled "Charlestown by the Sea" Charlestown R. I. owned & developed by Thomas F. Reilly July 25, 1934 K. W. Leighton, Civil Engineer, New Haven, Conn." which plat is recorded in the office of the Town Clerk in said Town of Charlestown in Plat Book 2 between pages 14 and 15. Said premises are conveyed subject to restrictions of record. Together with all buildings and improvements now or hereafter erected thereon, all the hereditaments, appurtenances and rights thereunto belonging or in any wise now or hereafter appertaining, the rents, issues and profits therefrom, and all and every other lighting and other fixtures, equipment and articles now or hereafter attached thereto.

586 TO HAVE AND TO HOLD the aforementioned premises, with their appurtenances unto and to the use of the said mortgagee, and its successors and assigns, forever. And the said mortgagor(s) do hereby, for themselves and for their heirs, executors and administrators, covenant the said mortgagor, its successors and assigns, that they and their successors and assigns are lawfully seized in fee simple as aforesaid, that they have good right, full power and lawful authority to sell and convey the same in the manner as aforesaid, and that the same are free from all incumbrances except as aforesaid, and that they shall hereafter peaceably and quietly have and enjoy the said premises, and that the said mortgagor(s) will, their heirs, executors, administrators and assigns, and its successors and assigns, forever, against the lawful claims and demands of all persons ever aspected aforesaid. And for the consideration aforesaid, we, said mortgagors, do hereby release all our right of ownership in said premises unto the said mortgagee, its successors and assigns, in trust to grant and convey the premises unto the said mortgagee, its successors and assigns, forever. PROVIDED, Nevertheless, this and this conveyance is made upon the express condition that, if said mortgagor(s), or any one of them, shall fail to pay the principal sum which shall be paid unto the said mortgagor(s), or its successors or assigns, the sum of Sixty-Five Hundred ($6500.00) Dollars together with the interest thereon, in the manner as aforesaid, or shall fail to perform any of the covenants herein contained, or any part of the said mortgage(s) bearing event date hereof, and shall allow any tax, assessments, insurance premium, water rates, or other liens and encumbrances to attach upon said premises, and shall fail to pay the same, or any part thereof, and shall perform all other the covenants and conditions, as all provided herein or in the note above mentioned, or shall fail to pay the said promissory note in full, or any part thereof, at the time when the same shall be paid or performed, then this deed as also said promissory note shall become and be absolutely and void to all intents and purposes whatsoever. But if said DEFAULT shall be made in the payment of any of the sums of money above mentioned, at the time or times when due as aforesaid, or in the payment of any taxes, assessments, insurance premium or water rates, or in the performance of any of the covenants herein contained, or any part thereof, whether by act or by omission, not paid or required or secured or of any portion thereof at the time or times when due as herein provided or aforesaid, or in the performance of any of the covenants herein contained, or of any portion of insurance hereinafter contained or in the performance of any other of the covenants or conditions of this mortgage, or any part thereof, and such default shall continue for thirty (30) days, the sum which shall be then and thereafter declared to be immediately due and payable, then it shall be lawful for said mortgagee, its successors or assigns, to sell the said premises, or any part thereof, or to grant the premises, or any part thereof, and the benefit and equity of redemption of the same, at public auction, and to bid for the same, and to be the purchaser of the same, and the purchase shall take place, by sale, by publishing a notice of the same at least once for each day for three (3) successive weeks in some newspaper published in the town where said premises are situated, and the sale shall be held at the town hall of said town, and notification of said notice shall be continued, together with a notice of the adjournment or adjournment, at least once for each day for three (3) successive weeks in some newspaper published in the town where said premises are situated, and the notice shall be in the name of the mortgagee, or in its own name or names, or as the attorney or attorneys of the mortgagee, and the notice shall be signed by the mortgagee, or its successors or assigns, or by its attorney or attorneys of full power of substitution and revocation), to make execute and deliver to the purchaser or purchasers at such sale or sales, a deed of conveyance of the premises, or any part thereof, to said purchaser or purchasers at such sale or sales, and to retain from all sums hereby secured, whether that payment or to become payable hereafter, the principal sum of the mortgage, together with all expenses incident to such sale or sales, and all counsel fees and other expenses, insurance premiums, in full, or in any part, and the taxes, assessments, water rates, and other liens and encumbrances, and the interest on the mortgage or mortgages then and thereafter remaining unpaid, and rendering the surplus of said purchase moneys, if any there be over and above the payment of the principal sum of the mortgage, together with all the expenses incident to such sale or sales, expenses and charges of such sale or sales, expenses and charges, to the said mortgagor(s), their heirs, executors, administrators and assigns, and all expenses incurred by the said mortgagee, its successors or assigns, in the making, constituting and executing said deed to the said purchaser(s) sold by this, for and in the name of the mortgagor(s), their heirs, executors, administrators and assigns, and all persons claiming said premises sold by this, for and in the name of the mortgagor(s). And the said mortgagor(s) and for themselves and for their heirs, executors, administrators and assigns, hereby covenant, promise and agree, to the said mortgagee, and 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 advisable. AND FURTHERMORE, the said mortgagor(s), for themselves and for their heirs, executors, administrators and assigns, for the consideration aforesaid and to further increase the security of the mortgage or mortgages, do hereby covenant and agree and to with the said mortgagee, its successors and assigns, as follows: 1. To pay an indebtedness hereby secured as herein and in said note provided. 2. To pay, as and when the same respectively become due and payable, either in whole or in part, all taxes, assessments, water rates, and other charges of every nature whatsoever, assessed or imposed upon or imposed in respect of said premises or constituting in whole or in part a mortgage lien or upon the said premises, and to pay all insurance premiums on the said premises, and to execute and deliver to the said mortgagee, under whatever status under force in now or hereafter may guarantee or mortgage insurance, indebtedness under whatever status under force in now or hereafter may be enacted and to pay promptly upon demand all insurance premiums for such insurance hereinafter contained said premises and all improvements secured as herein provided. 3. To keep and maintain against main and insurance against loss or other hazards required by the mortgagee, its successors and assigns upon the buildings upon said premises and to keep said buildings insured against loss or other hazards for a sum not less than at least such amount, in case of loss of the whole, not less than Sixty-Five Hundred ($6500.00) Dollars and not less than the amount necessary to prevent the loss of the security of the mortgage, and to execute and deliver to the said mortgagee, its successors and assigns, a policy or policies of insurance, issued by one or more insurance companies or companies as shall be satisfactory to the mortgagee, its successors and assigns, who may prevent the loss of the security of the mortgage, and to pay all premiums thereon, and to keep said policy or policies in full force and effect, and to make the said mortgagee, its successors and assigns, the sole and exclusive beneficiary, an insurance effect upon said buildings by the mortgagor(s), or their heirs, executors, administrators and assigns, and to execute and deliver to the said mortgagee, its successors and assigns, hereby making, constituting and appointing the President or any Vice president of the said Old Colony Co-operative Bank of Charlestown, Rhode Island, their true and lawful attorney or attorney-in-fact, irrevocable, in their name and stead but in the uncontrolled discretion of said attorney, to demand, adjust, settle any claim for payment and collect for and receive for all losses which may occur under any such insurance, to give discharging receipts for any and all sums received in settle-

ment of such losses, to reimburse himself therefore for all expenses (including reason- able attorneys' fees) incurred in connection therewith, and to deliver the remainder to said mortgagee, its successors or assigns, who shall apply the same and any unearned premium or dividend upon any accident insurance, notwithstanding any claim of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any holder of any subsequent purchase money mortgage, or lien on the property, or of any