7/29/1958 · AGREEMENT · book 36 page 341 doc 5710@36/341

341 IN WITNESS WHEREOF, the parties hereto have caused their names to be affixed hereto on the day and year first above written. W. MONROE HOXSIE ELIZABETH B. HOXSIE BEAVER RIVER OUTFITTERS, INC. By VINCENT J. SCHAFMEISTER, JR. President STATE OF RHODE ISLAND COUNTY OF WASHINGTON In Westerly, on the 29th day of May, 1958, before me personally appeared W. Monroe Hoxsie and Elizabeth B. Hoxsie, husband and wife, both to me known 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. JAMES D. THORNTON, JR. Notary Public. STATE OF RHODE ISLAND COUNTY OF WASHINGTON In Westerly, on the 29th day of May, 1958, before me personally appeared Vincent J. Schafmeister, Jr., to me known and known by me to be the President of Beaver River Outfitters, Inc. and to be the party executing the foregoing instrument, and he acknowledged said instrument, by him executed, to be the free act and deed of said Beaver River Outfitters, Inc. and his own free act and deed. JAMES D. THORNTON, JR. Notary Public. Received for record July 26th, A. D. 1958 at 9:45 o'clock, a. m., and recorded by [Signature] Town Clerk ---- -INSTALLMENT SALES AGREEMENT- Wakefield Branch Company hereinafter called the "Seller," hereby sells, and Morris and Minerva Negus hereinafter called the "Buyer," hereby buys subject to the terms and conditions hereinafter set forth, the following described summer dwelling, together with the equipment listed below, which summer dwelling, together with all substitutions and all additions and accessories to said dwelling and equipment are hereinafter referred to as the "property," delivery and acceptance of the same in good order being hereby acknowledged by the Buyer), viz: DESCRIPTION 20 x 32 Prefab Housing Unit TERMS Computed as follows: Selling Price $2,290.00 Amount to be Financed $2,359.00 No Down Payment Finance Charges 677.70 Recording Fees 9.00 Deferred Balance 2,936.70 Ignored to be paid by Buyer The Buyer agrees and promises to pay to the Seller or Seller's assignee the deferred balance of $2,936.70 in 59 equal monthly installments of $48.95 each and a final installment of $48.65, the first installment of $48.95 to be paid on August 15, 1958 and the remaining installments to be paid on or before the 15 day of each and every month thereafter until this contract is paid in full. Interest is to be paid on installments after maturity at the rate of six per cent (6%) per annum,

342 and if this contract be placed with an attorney for collection, fifteen per cent (15%) of the amount due hereunder as attorney's fees, or if prohibited, the amount permitted by law. 1. Title to the property shall not pass to the Buyer but shall remain in the Seller until payment in full therefor is made as herein provided, together with all interest and any other amount due hereunder. THE PROPERTY SHALL AT ALL TIMES REMAIN PERSONAL PROPERTY REGARDLESS OF HOW THE SAME MAY BE ATTACHED TO THE REAL ESTATE AND IT IS AGREED THAT IN CASE OF DEFAULT BY THE BUYER IN ANY TERM, PROVISION, OR CONDITION HEREOF, THE PROPERTY MAY BE SEVERED FROM THE REALITY AND REMOVED. 2. No transfer, renewal, extension or assignment of this contract, or any interest therein, or loss, injury or destruction of said property shall release the Buyer from his obligation hereunder. 3. In the event of any default hereunder, or failure to comply with any condition of this con- tract, or if receivership or insolvency proceedings be instituted against the Buyer, or the Seller deems the property in danger of misuse or confiscation, the entire unpaid balance shall at the option of the holder of hereof become immediately due and payable. No delay or omission on the part of the holder of this contract in exercising any right, or declaring any breach or default hereunder, shall operate as a waiver of such right, breach or default, or the continuance thereof, or any other or subsequent right, breach or default. 4. No warranties, express or implied, representations, promises or statements have been made by the Seller unless endorsed hereon in writing. 5. Seller shall have the right to enforce one or more remedies hereunder, successively or con- currently. 6. Buyer shall keep said property free of all taxes, liens and encumbrances; shall not remove the same from the Buyer's address above; shall not use same illegally or improperly; and shall not transfer any interest in this contract or said property. Any sum of money paid by the Seller in payment or discharge of taxes, liens or encumbrances on said property shall be secured by and under this contract. The proceeds of any insurance, whether paid by reason of loss, injury, return prem- ium, or otherwise, shall be applied at the option of the Seller toward the replacement of the property or payment of the obligation of the Buyer. The property shall be kept insured against fire and the perils covered by extended coverage, so called, to protect the interest of the Buyer, the Seller, and any assignee of the Seller in said property. Buyer agrees to pay the premiums of such insurance upon demand, and that upon failure to do so payment of said premiums shall be secured by this contract. 7. Time is of the essence of this contract, and if Buyer defaults in complying with the terms hereof, or Seller deems the property in danger of misuse or confiscation, Seller or any sheriff or other agent of Seller may with impunity enter upon the land and take possession of said property and any accessions thereto, sever it from the realty and remove it, (possession by the Buyer after default being unlawful). Such repossession shall not affect Seller's rights, hereby confirmed, to retain all payments made prior thereto by the Buyer hereunder. Seller may resell said property so retained, at public or private sale without demand for performance, with or without notice to Buyer (if given, notice by mail to address above being sufficient), with or without having said property at place of sale, and upon such terms and in such manner as Seller may determine; and Seller may bid at any public sale. From the proceeds of any such sale, Seller may deduct all ex- penses from retaking, repairing and selling such property, including a reasonable attorney's fee. The balance thereof shall be applied to the amount due from the Buyer, any surplus shall be paid over to Buyer; and in case of deficiency Buyer shall pay the same with interest. Seller may take possession of any other property in the above described property at time of repossession and hold same temporarily for Buyer without liability on the part of the Seller. Any assignee of Seller shall be entitled to all the rights of the Seller. IN WITNESS WHEREOF, this instrument is executed in quadruplicate, one of which was delivered to and retained by the Buyer, this 26 day of July 1958. MORRIS NEGUS Buyer MINERVA NEGUS Buyer WAKEFIELD BRANCH COMPANY J. H. Brierley, Pres. In the presence of:

343 STATE OF RHODE ISLAND COUNTY OF WASHINGTON In South Kingstown Rhode Island, this 26 day of July A. D. 1958, there personally appeared Morris and Minerva Negus, the Buyer, and H. R. Brierley, President of Wakefield Branch Co., before me Norris and Minerva Negus, and by me known to be the parties executing the foregoing instruments and they acknowledged said instrument, by them executed, to be their free act and deed individually and in any capacity as aforesaid. ROBERT ARNOLD NICKERSON (Notarial Seal) Notary Public SELLER'S ASSIGNMENT TO RHODE ISLAND HOSPITAL TRUST COMPANY: FOR VALUE RECEIVED, the undersigned hereby sells, assigns, and transfers to Rhode Island Hospital Trust Company, its successors and assigns, all right, title and interest in and to the property described in the preceding deed, for the sole and limited purpose for used by said Trust Company, and the property covered thereby, and authorizes Rhode Island Hospital Trust Company, its successors and assigns to do every act and thing necessary to collect the deficiency, if any, thereon. The undersigned certifies that said instrument dated July 26, 1958 agrees that the sale of the said property was executed on the terms and conditions to be said property was at the time of sale and is now without any reserved property rights; that said property is as represented to be vested in the undersigned free of all liens and encumbrances; that said property is free of all taxes up to the date of the delivery of the deed; and that to the best of his belief of the undersigned the statements made by the buyer on the application for credit are true. WAKEFIELD BRANCH COMPANY By H. R. Brierley Pres. Received for record July 29th, A. D. 1958 at 10:45 o'clock, s. m., and recorded by [Signature] Town Clerk (FOR RELEASE OF THE FOREGOING, SEE PAGE 344) ---- MORTGAGE DEED Morris Negus and Minerva Negus of the Town of Westerly, County of Washington, State of Rhode Island for consideration paid, grant to Wakefield Branch Trust Company, a Rhode Island corporation of the Town of South Kingstown, County of Washington, State of Rhode Island with MORTGAGE COVENANTS, to secure the payment of Two Thousand Nine Hundred Thirty-six & 70/100 Dollars payable monthly as provided in a certain installment sales agreement of seven year duration; (Description, and Incumbrances, if any) A certain lot or parcel of land with all buildings and improvements thereon located on the westerly side of Rose Hill Road, in the neighborhood of the Town of Charlestown, County of Washington and State of Rhode Island, bounded and described as follows:— BEGINNING at the northeasterly corner of the parcel of land herein described being an iron pipe on the westerly side of Rose Hill Road; thence southwesterly along said point of beginning the northeasterly corner of land of Sarah G. Lawton; thence westerly, bounded northerly by the land of Sarah G. Lawton, a distance of 100 feet; thence southerly a distance of 100 feet, bounded easterly by the land of Sarah G. Lawton and of said Rose Hill Road, and bounded westerly by land parallel with the land within grantors, a distance of 100 feet; thence northerly, bounded easterly by land of the within grantors, a distance of 100 feet; thence easterly, with the first herein mentioned boundary of land the within grantors, a distance of 125 feet to said westerly line of Rose Hill Road; thence north easterly bounded easterly by said road, a distance of 40 feet to the point of and place of beginning. This mortgage is made upon the STATUTORY CONDITION and with the STATUTORY POWER OF SALE. husbands wife of the mortgagor, release to the mortgagees all right of dower and all other interest in the aforesaid described premises WITNESS our hands this 26 day of July 1958 MORRIS NEGUS MINERVA NEGUS In presence of: STATE OF RHODE ISLAND, ETC., County of Washington In South Kingstown on the 26 day of July 1958 before me personally appeared Morris Negus and wife Minerva Negus to me known and by me known to be the parties executing the foregoing instrument, and they acknowledged said instrument, by them executed, to be their free act and deed. ROBERT ARNOLD NICKERSON (Notarial Seal) Notary Public Received for record July 29th, A. D. 1958 at 10:46 o'clock, s. m., and recorded by [Signature] Town Clerk (FOR RELEASE OF ABOVE MORTGAGE, SEE PAGE 344)