2/6/1899 · MORTGAGE · book 14 page 3 doc 5681

Signed, sealed and delivered in presence of Thomas A. Carroll [illegible] all signatures Mary A. Sewall L.S. David M. Sewall L.S. Mary E. Sewall L.S. State of Rhode Island Providence Ss. In Providence, on the eighteenth day of January AD, 1899, before me personally appeared the above named Mary A. Sewall, David M. Sewall and Mary E. Sewall wife of said David M. Sewall, each to me known and known to be by me to be the parties executing the foregoing instrument and they severally acknowledged said instrument by them executed it to be their free act and deed. Thomas A. Carroll Notary Public L.S. Revenue Stamps $2.50 Received for record Feb 6th 1899 at Northbrook Stu. and recorded by George Grove Town Clerk This Indenture made this second day of January AD, 1899, by and between the Smith & Sewall Granite Company, a corporation duly created and existing under and by virtue of the laws of the State of Rhode Island, party of the first part, and the Industrial Trust Company a corporation duly created and existing under and by virtue of the laws of the State of Rhode Island, hereinafter called the Trustee, party of the second part. Witnesseth, Whereas the Smith & Sewall Granite Company is desirous of purchasing and acquiring the property of the Dwight Sewall Company, and whereas to enable such purchase to be made and to effect the other purposes in this indenture expressed, the Smith & Sewall Granite Company has duly determined to issue its bonds, to the amount of $20,000, numbered consecutively from 1 to 400, both inclusive, for $50 each the payment of all said bonds, interest as well as principal to be secured by these presents, and said bonds and the coupons and interest certificates thereon to be issuable as follows:

United States of America State of Rhode Island $500. $500. The Smith & Sewall Granite Company of Westerly R.I. 6% First Mortgage 20 year Gold Bond. No. The Smith & Sewall Granite Company, of Westerly, Rhode Island, a corporation duly created and existing under the laws of the State of Rhode Island, for value received hereby promises to pay the bearer hereof, or if registered, to this registered owner hereof, on the second day of January, A.D. 1894, the sum of five hundred dollars in gold coin of the United States of America, of the present standard of weight and fineness, or its equivalent, at the office of the Industrial Trust Company of Providence, Rhode Island, with interest thereon from and after the date hereof, at the rate of six per cent per annum, payable in like gold coin, or its equivalent at the same place, semi- annually on the second days of January and July of each year, on presentation and surrender of the annexed interest coupons. This Bond is one of a series of four hundred Bonds of like amounts, tenor and date, aggregating $200,000, numbered consecutively from One to four hundred both inclusive, the payment of which is secured by and subject to the terms and conditions of a certain Mortgage or Deed of Trust bearing date the second day of January A.D. 1894, executed and delivered by the Smith & Sewall Granite Company to the Industrial Trust Company as trustee, mortgaging as security for the payment of the principal and interest of said Bonds all the real estate and other property of the Smith & Sewall Granite Company mentioned and described in said mortgage, with full power and authority to use and sell in the event of default in the payment of the Bonds or coupons and apply the proceeds to the payment of the same. This Bond shall not be void or negotiable until authenticated by the signature of the trustee, and shall then pass by delivery unless it has been registered in the books of said the Smith & Sewall Granite Company, but after registration of ownership only certified hereon no transfer except upon the books of said Company shall be valid unless the last registration shall have them to bearer and this Bond shall continue subject to successive registrations and transfers to the bearer at the option of the holder. Registry however shall not restrain the transfer of

5. The covenants by delivery In witness whereof the said the Smith & snowfall Granite Company has caused these presents to be signed by its President and its corporate seal duly attested by its Secretary, to be hereunto affixed, and has caused to be affixed conform with the name of its treasurer engraved thereon, and has caused this Bond to be dated the second day of January AD 1899. The Smith & snowfall Granite Company By President Attest Secretary. Conform 8 1/2; The Smith & snowfall Granite Company, of North Kingstown Rhode Island, Will pay to the bearer at the office of the Industrial Trust Company, of Providence, Rhode Island, Eighteen Dollars in United States gold coin, or its equivalent on the second day of [illegible] being six months interest on its First Mortgage 6% gold Bond Treasurer, Trustees Certificate The Industrial Trust Company of Providence Rhode Island hereby certifies that the within Bond is one of the series and issue described in the mortgage thereon mentioned Industrial Trust Company By Trustee President. Now therefore in consideration of the premises and of the agreements hereinafter named, and of one dollar to it paid by the said Trustee, and in order to secure the due and prompt payment of the principal and interest of all the bonds aforesaid at any time outstanding the said the Smith & snowfall Granite Company has granted, bargained, sold, assigned, transferred, conveyed and delivered and by these presents does grant, bargain, sell, assign, transfer, convey and deliver unto the said trustee, its successors and assigns the following described real estate, easements, rights, privileges and

6 other property lying and being in the Towns of Westerly and Charlestown in the County of Washington and State of Rhode Island to wit. That tract of land situated in the Town of Westerly beginning at the northwest corner of land now or formerly belonging to Edwin Wheeler, and the Southwest corner of the said Wheeler conveyed situated at the East side of the highway known as the Post Road, thence Southerly 21° and 27' West 830 feet 830 feet to the Northwest corner of lot no 19 on a map of Building lots belonging to Gerlands S smith Estate, surveyed and drawn by G. T. Lonsdale C. E. 1873" thence Southerly 83° and 12' East 186 feet 186 feet thence Southerly 6° and 48' West 70 feet thence Northwesterly 13 feet to the Southeast corner of School district lot CH 2, thence Northerly about 98 feet to the Northwest corner of said School district lot no 2, thence Northwesterly 49 feet to the Northwest corner of lot no 45 on said map, thence Southerly 6° and 48' West 70 feet thence Southerly 83° and 12' West 289 feet 289 feet to the highway known as the Post Road, thence Southerly on said highway 140 feet to the Northwest corner of lot no 14 on said map, thence Southerly 83° and 12' East 215 feet to the Northwest corner of lot no 42, thence Northerly 6° and 48' East 810 feet to the Northwest corner of lot no 31 on said map, thence Northerly 83° and 12' 75 feet thence Northerly 65° and 48' West 174 feet to a proposed street, thence in a Northerly direction across said proposed street 67 feet to a stone bound thence Southerly 23° and 31' East 119 feet to a stone bound set at a point where the present gate post stands, thence Northerly 66° and 44' West 122 feet to a stone bound, thence Northerly 35° and 44' West 100 feet to a stone bound set in the ground 15 feet Northerly from the corner of an old or stone wall, thence Northerly 78° and 33' West 88 feet to a stone bound set in the centre of driveway and on the East line of the highway or Post Road, so called, 21 feet Northerly from the corner of a well, thence Southerly 3° and 32' East 1905 feet to the South line of former St boundedly Westerly by the Post Road, thence Southerly 80° and 23' East 163 feet thence Easterly 220 feet to a rock with a drill hole in it and letter Lo cut in said rock, situated on the South side of Lower St, thence Southerly 31° and 58' East 90 feet to a stone bound marked "A" thence Southerly 19° and 22' East 171 feet to a stone bound marked "B" thence Southerly 23° and 3' West 315 feet to a stone bound marked "C" and an iron pin in rock, thence Southerly 38° East 498 feet to a stone bound marked "D" thence

Southerly 20° and 53' East 390 feet to a stone bound marked "E"; thence Southerly 71° and 54' East 102 feet to a stone bound marked "F"; thence Southerly 78° and 38' East 219 feet to a stone bound standing by wall marked "G"; thence Southerly 76° and 24' East 434 feet to a stone bound marked "H"; thence Southerly 11° and 58' West 463 feet to the corner of a wall; thence Southerly 77° and 18 East 1304 feet to a wall; thence again Southerly bounded Southerly by land now or formerly belonging to James Greenley to the Northeasterly corner of the land hereby conveyed; thence Southerly bounded Easterly by land of Alfred Chapman and heirs of anima Thrasher; thence Southwesterly to the end of a wall; thence again Northeasterly and Westerly about 2200 feet to the land of Eleanor Wheeler, bounded Southerly by land of John Holmes and his wife and James Garrod; thence Southerly bounded Westerly by the Wheeler land 247 feet thence Westerly bounded Southerly by said Wheeler land 860 feet to the point of beginning. Being part of the premises conveyed to the Smith Granite Company by Leland R. Smith, Isaac S. Smith and Julia E. Smith by deed recorded in the Bound Evidence Records of said Westerly in Book 42 p 164, also that tract of land containing by estimation about 47 and 11/100 acres situated partially in the Towns of Westerly and Charlestown, bounded and described as follows: Beginning at a point on the highway at the Southeast corner of the lot herein conveyed and the Southeast corner of land now or formerly belonging to the heirs of Perry Healy; thence Southerly 88° and 18' West 905 feet to a stone bound marking the southwest corner of said lot, bounded Southerly by the land of the heirs of Perry Healy; thence Southerly 7° and 40' East 1454 feet to an iron bolt driven in a ledge at the corner of an old wall; thence Southerly 67° and 27' West 214 feet to a stone bound; thence Southerly 65° and 17' East 798 feet over a boundary post on the North side of a path to a boundary post set at the corner about 20 feet West of a ledge; thence Southerly 63° and 20' West 544 feet to a split boulder rock with drill hole and letter "B" cut in rock, bounded Westerly and Southerly by lands of Perry Healy and others; thence Southerly following the line of an old wall 554 feet to a stone post set in the ground on the South side of a dirt path bounded on the West by lands of Peter Parks; thence Southerly 38° and 12' East 384 feet to a letter "B" out in the ledge thence Southerly 55° East 802 feet to the

highway bounded Northerly by lands of Gardner & Davis; thence Southerly bounded Eastly by the highway 2325 feet to the place of beginning. Also that other tract of land containing by estimation 10 and 1/4 acres situated in the town of Pawtucket, and bounded and described as follows; commencing at the Southwest corner of land now or formerly belonging to Al. Kernutt and the Northwest corner of the land therein conveyed, at a stone set in the ground; thence Southerly 7° and 30' East 336 feet to a point on the ledge marked with the letter "B"; thence Southerly 8° and 21' East 223 feet to a point on the ledge marked with the letter "B"; thence Southeasterly 74° and 15' East crossing the north and of the ledge, and also over a large boulder, the both points of which are marked, 663 feet to a point in the wall 4 feet South of a white oak tree; thence Northerly 18° East as the wall runs, runs 240 feet to an angle in the wall; thence Northeasterly 16° and 15' East 140 feet to a stone bound by the land of Al. Kernutt; thence Northerly 88° West 623 feet to the place of beginning, bounded Northerly on land of Al. Kernutt, and Easterly, Southerly and Westerly by land of the heirs of Perry Healy. Also that other tract of land containing by estimation 9 and 1/2 acres, situated in the town of Pawtucket and bounded and described as follows, beginning at a corner of the wall on the Southwest corner of the lot herein conveyed; thence Northerly 4° and 30' East 366 feet to a fence and post by lands of Ebenezer Crockett; thence Southeasterly 87° East 142 feet to a fence post; thence Southerly 5° and 45' East 280 feet to the highway, bounded Westerly by the lands of James Bromley and Ebenezer Crockett; thence Southerly 83° East 640 feet to a stone bound set on the south side of road wall, bounded Northerly by the highway; thence Southerly 5° West 610 feet to a stone bound set in a wall near a marked tree; thence Northerly 86° West 709 feet to the place of beginning. Said three last mentioned lots being the same premises described in a deed from Mary A. Jowall and David Mc. Jowall to the Smith & Jowall Granite Company, which said deed is recorded in the said Evidence Records said Pawtucket in Book 10 33 at page 409, and also in Colehastorn in Book 10 14 at page 1; reference to said deed being hereby made for a further description. Together with all and singular the tenements, hereditaments and appurtenances thereunto belonging, in any wise appertaining, and the reservations reversions, remainder and remainders, rents, issues, income

and profits thereof and also all the estate right title and interest property possession claim and demand whatsoever as well in law as in equity of the Smith & Sewall Granite Company of in and to the same and every part and parcel thereof with the appurtenances and all improvements thereon and also all singular or personal property engines boilers machinery tool implements and all appurtenances contracts agreements and patented or other processes for the proper working of a granite quarry all of which personal property is hereby declared to be fixed and appurtenances of said granite quarry and parts of the same and also all improvements or additions made or to be made to said plants and properties real and personal and all replacements of the same or the appurtenances thereof and also all and every other estate right and interest and privilege corporate or otherwise profit and thing real personal or mixed which the Smith & Sewall Granite Company now owns or holds or may or shall hereafter acquire own or hold To have and to hold all and singular the above granted real estate easements rights privilege and other properties with the appurtenances unto the said Trustees and its successors and assigns in said trust forever in trust nevertheless in trust the provisions hereinafter set forth for the equal and pro rata use benefit and security of the several holders of the time being of the bonds hereby secured or intended to be without any preference as to any of said bonds issued here- under by reason of priority in time of signing or negotiation or otherwise provided however that if the Smith & Sewall Granite Company shall pay the principal and interest of all of said bonds according to the terms of the bonds and of this mortgage and the reasonable compensation and lawful charges of the Trustees and all other underlying charges all the estate and interest of the trustees in said real estate easements rights privileges and other properties and all hers thereon by reason of this mortgage shall cease It is hereby agreed that the further provisions under which said bonds are to be issued by the Smith & Sewall Granite Company and to be held by the Trustees are as follows First The Smith & Sewall Granite Company shall pay the principal of all the bonds issued under this mortgage when the principal shall become due by the terms of the bonds and it shall pay the interest thereon according to the terms of the bonds upon the presentations and surrender of the proper coupons for such interest and until the principal is paid

without deductions from principal or interest of any tax which the Smith & Sewall Granite Company may be required to pay thereon or to retain therefrom. No bond shall be valid as secured under this mortgage or deed of trust receipt unless shall be authenticated by the certificate of the Industrial Trust Company indorsed thereon, signed by said Trust Company, and such certificate shall be conclusive evidence of the validity of such bond. When and as the coupons attached to the said bonds mature and become payable, they shall be paid by the Smith & Sewall Granite Company and the coupons cancelled and no purchase or sale of said coupons or of any of them, and no advance or loan thereon by or on behalf of or at the request of the Smith & Sewall Granite Company after the same shall have been detached from the bonds to which they belong, shall keep such coupons alive or preserve their liens upon the property but nothing herein contained shall be intended or construed to prevent the Smith & Sewall Granite Company by arrangement with the holder or holders thereof from extending the time of payment or of changing the rate of interest or any of all said bonds, and any such extended or changed bond, and the coupons thereon, shall retain all the benefits and protection of this mortgage to the same extent as if such extensions or changes had not been made. The Smith & Sewall Granite Company further covenants that it shall and will pay all taxes, rates, levies and assessments lawfully levied or assessed upon all and singular the property hereby mortgaged, or expressed or intended to be, or upon any part thereof as and when the same shall become lawfully due and payable, and will not suffer any mechanic's, laborer's, statutory or other lien to remain outstanding upon the hereby mortgaged premises, or any part thereof, the lien whereof might or could be held to be prior to the lien of these presents, and will not suffer any matter or thing whatsoever whereby the lien hereof might or could be impaired; and also it all times during the continuance of this mortgage will name and keep insured from loss or damage by fire all and singular the buildings and other improvements upon or belonging to said granted estates, together with the personal property in a sum of not less than Forty thousand dollars in the name of the said the Smith & Sewall Granite Company, its successors or assigns, but so that the loss, if any, shall be or become payable to the said Trustee or Trustees and in such office or

offices as shall from time to time be approved by the said Trustee or Trustees, and will from time to time immediately after effecting any such insurance and the payment of any premium for the same, deliver to the Trustees for the time being the policy or policies of such insurance, and the receipts for such premiums, and in case of default in so securing or maintaining insurance or in delivering the said policies and receipts, as aforesaid, then and in every such case it shall be lawful for the said Trustee to effect and maintain such insurance either in its own name or in the name of the said the Smith & Newell Granite Company, for its use and benefit, and all moneys paid therefor, shall, with interest thereon, be a lien and charge upon said estate and personal property for the time being secured by this mortgage, in the same manner as the said bonds are secured thereby. And it is hereby further agreed that in case of loss by fire at any time to the building or other property mentioned in this mortgage, or intended so to be, all insurance moneys received by the trustee for or in respect thereof shall after the payment therefrom of the expenses of or incident to the recovery of the same, and said bonds and interest of any which shall then be overdue and unpaid be paid to the said the S. Smith & Newell Granite Company, its successors or assigns, in proportion as it shall apply the property so destroyed or damaged, provided that the said S Smith & Newell Granite Company shall elect to rebuild and replace said property, and of such election shall, within sixty days, notify the trustee, and shall present to the said trustee proper receipts or other vouchers from the architects builders, or other parties rebuilding or replacing said property, or upon such other evidence as shall be satisfying to the said trustee. In case the Smith & Newell Granite Company shall not within sixty days after such loss replace or commence to replace and restore the property so destroyed or damaged, then the said trustee shall pay out and distribute such insurance moneys remaining in its hands in the same manner as herein provided as to moneys received from sale under the power of sale hereinafter contained. And the Smith & Newell Granite Company will, and its successors or assigns shall, at any time hereafter while this mortgage is outstanding, as security for the bonds therein described, upon the request of the said Industrial Trust Company, or its successors in said trust make all such further assurances for the more effectual conveying of the said

12 premises and property, or any part thereof as the said industrial Trust company, its successors or assigns, may reasonably require. Second. Until the Smith & snowfall Granite Company shall have made default in the payment of the principal or interest of any of the bonds hereby secured, or intended so to be, or in the performance of the covenants, or any of them herein expressed to be kept and performed by the Smith & snowfall Granite Company it shall have the possession, use, enjoyment and control of all the property covered by this mortgage, with all appurtenances, and shall receive the rents, issues, income and profits thereof, with the right at all times to alter, change, add to, repair, devise of replace any and all machinery and fixtures, provided only that the security of said bonds shall not thereby be in any way reduced or impaired. Third. In case default shall be made in the payment of any interest becoming upon one or more of the bonds hereby secured, or intended so to be, according to the terms thereof, or on any day when the same shall become due, and such default shall continue for three months, or in case the Smith & snowfall Granite Company shall neglect to make payment of any tax, levy or assessment herein agreed, for the period of three months after the same shall have become fully due and payable, and the payment thereof shall have been demanded by the Trustees, then and in any such case the Smith & snowfall Granite Company, upon demand of the Trustees, and at the request in meeting of the holders for the time being of a majority in value of the then outstanding bonds hereby secured, or intended so to be, shall and will forthwith surrender to the said trustee the actual possession, and the said trustee shall be entitled forthwith to enter into and upon and take possession of all and singular the property and premises hereby mortgaged, or intended to be and each and every part thereof with all recorded books, papers and accounts of the Smith & snowfall Granite Company and shall have, hold and use the same, controlling, managing and operating by its superintendents, managers, servants or their agents or attorneys the said property, with the appurtenances, and collecting the rents and profits thereof, and exercising all the rights appertaining thereto, and making from time to time at the expense of the trust estate all repairs

and replacements, and such useful additions, alterations and improvements thereof and thereunto as to the said Trustee may seem proper and judicious, and may collect and receive all income, rent, issues and profits of the same, and every part thereof and after deducting all expenses of maintaining, managing and operating said property, and conducting the business thereof and of all repairs, replacements, additions, alterations and improve- ments so made, and all pay-ments made for taxes, levies, and assessments, insurance premiums, and other proper charges upon said property, or any part thereof, and as well just compensation for the services of the trustee, its agents, clerks, servants, attorneys and counsel, shall apply The remainder of the moneys so received be as follows: In case the principal moneys secured by said bonds shall not have become due, or have been declared due, to the payment of the interest in default in the order of the maturity of the installments of such interest, and in case said principal moneys shall have become due, or have been declared due, then to the payment of the principal and accrued interest upon said bonds, pro rata, without any preference or priority whatsoever, and without preference of interest over principal, or of principal over interest. Fourth. In case of any default on the part of the Smith &arnell Granite Company as mentioned in article Third hereof, or in case the Smith &arnell Granite Company shall make default in the performance of any provision of this mortgage, then, and in any such case, if the holders of a majority in value of the their outstanding bonds hereby secured, or intended so to be, elect, and if so requested by the trustee shall deposit their bonds with the trustee, and shall notify the trustee in writing of such election, the whole of the principal of all bonds hereby secured, or intended so to be, and then outstanding, shall forthwith be declared by the trustee to be, and shall immediately become due and payable, anything herein or in said bonds to the contrary notwithstanding. The principal of the bonds secured hereby, or intended so to be, having become due at maturity as in this article provided, it shall be lawful for the trustee to proceed to sell at public auction to the highest bidder all and singular the properties hereby mortgaged, or intended so to be, that shall then be subject to the lien, operation and effect of this indenture, with the appurtenances, and all benefit and equity of redemption of the Smith &arnell Granite Company.

14 its successors or assigns, therein, Such sale shall be made by the Trustee, or by its attorney or attorneys, agent or agents, in the Town of Westerly, in the State of Rhode Island, after notices of the time and place of sale and of the Property to be sold shall have been given by the Trustee by publication thereof in at least one daily newspaper published in the said Town of Westerly, and in at least one daily newspaper published in the City of Providence State of Rhode Island over in each made for not less than six consecutive weeks together with such other notices, if any, as may be required by law) and the Trustee may without further advertising such sale, adjourn the same from time to time for such period or periods as it may deem advisable, and after such sale shall execute, acknowledge and deliver to the purchaser or purchasers a good and sufficient deed of conveyance of said real property, and title of said personally property, which shall be a bar against the Smith & Sewall Granite Company, its successors and assigns, and all persons claiming by, through or under it or them, with respect to any of the property so sold. The Smith & Sewall Granite Company shall and will, if and when thereto required, make, execute and deliver such deeds and other instruments as it shall be reasonably advised or required to confirm and assure such title and ownership to and to such purchaser or purchasers, the receipt of the Trustee shall be a sufficient discharge to the purchaser or purchasers of all the property so sold, or any part thereof, for his or their purchase money; and the purchaser shall not be bound to see to the Specification of the purchase money. Upon the making of any such sale, the Trustee shall apply the proceeds thereof as follows: First To the payment of the costs and expenses of such sale, including reasonable compensation to the Trustee, its agents, attorneys, and committee, and all expenses, liabilities and advances made by and incurred by the Trustee, or under its authority, in managing, maintaining and protecting the hereby mortgaged property and all taxes, assessments insurance premiums and their charges thereon, And Second To the payment of the whole amount of the principal and interest then owing or unpaid upon said bond, or any of them, whether said principal by the terms of said bond be then due or not yet to become due; and in case said

proceeds are insufficient to pay in full the whole amount of principal and interest then owing and unpaid upon said bonds, the same shall be paid ratably in proportion to the amount unpaid upon those respectively, without preference to any bond over any of the others, or of interest over principal, or of principal over interest except that no coupons held upfront from the bonds to which they respectively belong shall be paid until the principal of all bonds shall first have been fully paid and satisfied. Sixth. To pay over any surplus, if any, on demand to the Smith & Sewall Granite Company, its successors and assigns or as any court of competent jurisdiction may direct. Fifth. In case of any sale of the property hereby mortgaged, whether made under the powers herein given, or either of them, or under judicial authority, the puree have or purchasers shall be entitled to turn in, and apply, in making payment of the purchase money borrowed upon which said sale the bonds or coupons secured hereby, reckoning such bonds or coupons for such purpose, at a sum not exceeding that which shall be payable out of the net proceeds of such sale to the holder or holders of such bonds or coupons for his or their just share of the net proceeds of sale upon due apportionment of and accounting for said net proceeds, Seventh. The Trustee may resign the trust hereby created and become and remain wholly discharged of all further responsibility thereunder upon giving sixty days notice in writing to the Smith & Sewall Granite Company, or such short notice as the Smith & Sewall Granite Company may accept as sufficient. In case of a resignation or removal of any Trustee under this deed of trust, a new Trustee shall be appointed by the said Smith & Sewall Granite Company, by an instrument in writing under its seal, and notified thereof by advertisement published at least once a week for three successive weeks in a daily newspaper published in the Town of Westerly in the State of Rhode Island, and also in a daily newspaper published in the City of Providence, and unless a majority in interest of the holders of the said bonds then outstanding shall within thirty days from the date of such last publication make objection by an instrument in writing

16 signed by them and delivered to the said The S. Smith & Sewall Granite Company, the said appointment shall at the expiration of said thirty days be considered as assented to and confirmed by the holders of the bonds secured hereby. In case such objection by a majority in interest of the holders of said bonds should be made as aforesaid, the said the Smith & Sewall Granite Company shall then apply to the Appellate Division of the Supreme Court of the state of Rhode Island, or other the Tribunal of said state exercising due jurisdiction, to appoint another Trustee or such other executor or person as such court shall deem proper. Every new Trustee shall, in immediately upon appointment and by virtue thereof, be vested with all the property and have all the rights, powers and discretion then belonging to the Trustee under this mortgage. The word Trustee as used in this mortgage shall be construed to mean the Trustee for the time being. Eighth. The Trustee shall, upon payment of the principal and interest of all the bonds secured hereby according to their terms, and to the terms of this mortgage, and payment of the reasonable compensation and lawful charges of the Trustee and all necessary charges, fees, expenses, accounts agree and deliver, on demand, any instrument which the Smith & Sewall Granite Company shall deem necessary or proper to secure the cancellation of this mortgage and the satisfaction thereof on the record. Ninth. If any bond issued hereunder shall be mutilated lost or destroyed, the Smith & Sewall Granite Company may, upon terms and conditions prescribed by its Board of Directors, issue in lieu thereof a new bond of like tenor, amount and date, and bearing the same revival number, which bond when so issued shall be entitled by the Trustee whenever the Trustee shall receive proof of such mutilation, loss or destruction and indemnity satisfactory to the Trustee. Tenth. The Trustee, for itself and its successors or assigns, hereby accepts the trust and assumes the duties herein created and imposed when if but only upon the following terms and conditions, to wit: (1st) the receipts of bonds herein contained, and endorsed in the bonds hereby secured, shall be taken as statements of the Smith & Sewall Granite Company, and shall not be confirmed as made by the Trustee, (2nd) the Trustee shall have a first lien upon the mortgaged property and fund for its reasonable expenses, trustee fees and compensation incurred in and

about the execution of the trust hereby created, and in the exercise and performance of its powers and duties hereunder, (3) The Trustee shall be under no obligation or duty to perform any act hereunder, or defend any suit in respect hereof, unless reasonably indemnified, the Trustee shall not be bound to recognize any person as a bond holder unless his bonds are deposited with the Trustee, if required, and his title satisfactorily established, if disputed, (4) The exclusive right of action hereunder shall be vested in the Trustee with refusal or failure on its part to act and no bond holder shall be entitled to enforce the present writ after demand made upon the Trustee, accompanied by an offer to deposit said bonds with the Trustee, and by tender of indemnity as aforesaid, and a refusal by the Trustee to act in accordance with said demand and said Trustee shall not be or become liable or responsible for any act, matter or thing whatever, except its own willful and intentional breach of the trust herein reserved and contained. In testimony whereof the Smith & Cornwall Granite Company has caused these presents to be executed by Orlando R. Smith its President and its corporate seal to be hereunto affixed by John P. Randall, its Secretary, hereunto duly authorized; and the said Industrial Trust Company has caused these presents to be signed and its corporate seal to be hereunto affixed by Samuel P. Leolt its President and Cyrus P. Brown its Treasurer, hereunto duly authorized this second day of January AD 1879 In presence of Thomas A. Carroll to both signatures [Revenue Stamps] $1.00 J. J. Matson Jr. a. h. S. B. & Co. L. P. The Smith & Cornwall Granite Company by Orlando R. Smith President John P. Randall Secretary L.S. Industrial Trust Company Samuel P. Leolt President Cyrus P. Brown Treasurer L.S. State of Rhode Island County of Providence In the City of Providence, in said County this 2nd day of January AD 1879 personally appeared before me the above named Orlando R. Smith President and John P. Randall Secretary of the Smith & Cornwall Granite Company both to me known and known by me to be the parties

18 who appeared the foregoing instrument in the name and behalf of the said the Smith & Tenwell Granite Company and acknowledged the same to be their free act and deed and the free act and deed of the said the Smith & Tenwell Granite Company. Thomas Tenwell Notary Public LD Received for record Feb 4, 1899 at 11:30 o'clock A.M. and recorded by George Colburn Town Clerk For discharge of above mortgage see page 201 This Indenture made this twenty fifth day of February in the year of our Lord one thousand eight hundred and ninety nine, between Arthur Converse and Hattie A. Converse, his wife, of the City of Derry in the County of Rockingham and State of New Hampshire, parties of the first part and Helen M. Hudson of the Village of Lovingleigh, in the County of Rockingham and State of New Hampshire, party of the second part. Witnesseth, That the said parties of the first part in consideration of the sum of Three thousand dollars ($3,000) to them duly paid, the receipt whereof is hereby acknowledged, have sold and by these presents do grant and convey to the said party of the second part her heirs and assigns of forever, all those rights or parcels of land, situate in the Town of Charlestown, County of Washington and State of Rhode Island, described as follows: To wit, A certain lot or parcel of land, situate near snooze Long Beach, in the Town of Charlestown, County of Washington and State of Rhode Island, and bounded as follows to wit: Beginning at a point boundary feet (20) West from a cross cut in a wall stone in the Northwest corner of the lot formerly owned by the heirs of Jared Babcock, thence Southly twenty (20) feet to a stake at the corner of lot recently sold to Samuel P. Ennis, thence Southly along the line of said Ennis about 200 feet to the sea, thence Westly by the sea about 670 feet to land of Henry G. Carpenter, thence Northly along line of land Carpenter about 200 feet to land of Jared Babcock's heirs, thence Eastly along line of said Babcock land to point of beginning, and containing by estimation five (5) acres more or less, Reserving however a right of way to pass and repass on foot or horse or teams for the owners and occupants of the lot recently sold to Samuel P. Ennis said right of way being along the line and within Twenty (20) feet of the wall which constitutes the western boundary