5/10/1910 · DEED · book 16 page 431 doc 6499

554 M O R T G A G E KNOW ALL MEN BY THESE PRESENTS: That Hazard H. Burdick, of Charlestown, Wash- ington County, Rhode Island hereinafter called the Mortgagor, in consideration of the prem- ises and of the sum of nine hundred ninety-seven and 97/100 Dollars ($997.97), paid to him by westerly Lumber Company a Rhode Island Corporation, of Westerly, Rhode Island, herein- after 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 County of Washington, Town of Charlestown, State of Rhode Island, described as follows: DESCRIPTION OF PREMISES: A certain lot or parcel of land paving and lying and being in Charlestown, Washington County, Rhode Island with a dwelling house and others im- provements thereon standing and being known as lot 8 on Plot of Con- tiguous Site on property of H. H. Burdick Quonochontaug East Beach Charlestown, Rhode Island as shown on Plat Book 11 Page 114 by F. V. Foster surveyor, the same being on file and of record in the Land Evidence Records of said Charlestown Hop Book 1 and Page 136 describing size and location it being the same as shown on said plat, reference to the same and to the record there- with being hereby referred to and the same made a part thereof. including all buildings and improvements thereon, or that may hereafter be erected thereon; together with the hereditaments and appurtenances and all other rights thereto 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 said prem- ises. 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 fulter that they are free of all encumbrances except as aforesaid; that he has good right, full Power law 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, Ella T. Burdick, wife of said Hazard H. Burdick do hereby release all my right of power in and to the premises unto the Mortgagee, its successors and assigns, forever. PROVIDED, NEVERTHELESS, and this conveyance is made upon the express condition that if the Mortgagor shall pay to the Mortgagee the principal sum of nine hundred ninety- seven and 97/100 Dollars ($997.97), as evidenced by a promissory note of even date herewith, of which the following, in words and figures, is a copy: ------------------------------------------------------------------------------------------------------------------- Rhode Island -- Note -- COPY OF NOTE Dated Jan. 27th 1939 $997.97 For Value Received we promise to pay to the order of the westerly Lumber Company for corner Oak and High streets Westerly R.I. at the designated office of the lumber company the sum of Nine hundred ninety-seven and 97/100 dollars ($997.97), lawful money of the United States of America, in installments as follows $14.00 on the tenth day of each month beginning on the tenth day of month thereafter until the full paid, together with interest on each installment payment thereafter at 6% per annum from the date of the note until the full sum is due from the date therefore until the same is paid, each payment made upon the note to be credited first and foremost to the interest and any other principal then due, and the balance upon other principal then due, and interest shall thereupon cease upon the principal payment of said principal installment, provided, however, that guarantor of this note makes presentment for payment, protest, notice of protest, demand for payment or presentment and notice of dishonor of said payment or failing to pay princi- pal or interest when due. In the event of default in any payment of installment principal or in the pay- ment of interest, the whole sum of both principal and interest shall become im- mediately due and collectible at the option of the holder of this note. Hazard H. Burdick Ella T. Burdick Lucy B. Pendleton Mary B. Dempsey Allen H. Burdick R.F.D. #1 Bradford, R. I.

555 and shall fully perform all the covenants, terms and conditions of this mortgage, as well as the note secured hereby, then this instrument, as well as the note secured hereby, shall be null and void. The Mortgagor further covenants as follows: 1. That he will pay promptly all sums which shall become due and payable according to the terms of the said promissory note. 2. That he will keep the premises necessarily insured against loss or damage by fire and such other casualties as the Mortgagee may specify, in such company or companies as may be satisfactory to the Mortgagee, for a sum not less than $10,000.00 (Ten Thousand Dollars) $10,000.00, payable in case of loss to the Mortgagee, and will assign and deliver all such policies to the Mortgagee. 3. That he will pay all taxes, assessments, water rates, other and governmental or mu- nicipal charges, fines or impositions as may be levied upon said premises, or any part thereof over and on the date when the same shall become due and payable; if the Mort- gagee may pay the same, and all such sums so advanced shall become part of the principal debt secured hereby and that he will promptly deliver the official receipts therefor to the Mortgagee. 4. That he will keep the premises in as good order and condition as they are now, and he will not permit or commit any waste, unreasonable tear and wear expected. 5. That any policies of insurance on the premises herein conveyed shall be assigned and transferred, to make payment in the event of loss to the Mortgagee as its principal security hereto. If the Mortgagor fails to make any payments for insurance premiums as herein provided or shall fail to pay any taxes, assessments, water rates, other and governmental or municipal charges, water rates or other governmental or municipal charges the Mortgagee may effect such insurance or pay such taxes, assessments, water rates, other and governmental or municipal charges, and all such sums paid shall bear interest at the rate of six (6)% per annum from the date of such payment until paid; and such sums shall become immediately due and payable to the Mortgagee all sums so paid. If the premises covered hereby, or any part thereof, shall be damaged by fire or other casualty, the insurance money, if any, held as a beneficiary hereof, provided the amounts paid by any insurance company pursuant to the said policies are not sufficient to repair or rebuild the premises, the balance of the money paid to be repaid to the Mortgagee, and at its option, may be applied to the debt or released for its operation or rebuilding of the premises. If there shall be a default in any of the payments or conditions or covenants of this mortgage, or under the note secured hereby, then it shall be lawful for the Mortgagee, to sell, together or in parcels, all or singular the premises hereby granted, in a judicial sale or redemption of said parcel of thereof, and the premises hereby granted, in the name of Hassan H. Burdick, the said Mortgagor, and the said ally T. Burdick and their heirs, successors, administrators, successors over, executors or assigns, to sell the same at public sale to the highest bidder, whether such purchaser or purchasers at any such sale and no other purchaser or purchasers shall be responsible for the payment of the purchase money, and the said Mortgagee may conduct the said public sale by publishing the name of at least once a week for three successive weeks in some public news- paper circulated in the town where said premises are situated, and in the state of Rhode Island, provided that the notice of such sale shall be continued, together with a notice of the ad- judication of foreclosure of the mortgage, in the same newspaper for two successive weeks, in own names, or as the attorneys or attorney of the Mortgagee and the said ally T. Burdick for the purpose of giving notice to all persons who may have any interest in the premises, and to make, execute and deliver to the purchaser or purchasers at such sale or sales, a conveyance of the premises, and from such proceeds to satisfy all sums hereby secured, whether they due, or not, and to satisfy all costs and expenses incident to such sale or sales for mak- ing on deed hummus and for usual cost of counsel and attorneys, and all costs or expenses incurred in the process of sale of said premises, and the balance of such proceeds, if any, shall be turned over therefore paid by the Mortgagee or then remaining unpaid upon said granted premises remaining, and paid to the Mortgagor, and the said Mortgagee shall give a full and complete discharge of the debt to be returned fair as aforesaid, together with a true and particular account of such sale or sales, expenses and disbursements. The said Mortgagee shall not be liable for any error or mistake as a perpetual bar, both in law or in equity, against said Hassan H. Burdick, the said Mortgagor, and the said ally T. Burdick and their heirs, successors, administrators, executors or assigns, all persons claiming said premises. And the Mortgagor hereby further covenants that he will, upon request of the Mortgagee, execute and deliver any such further assurance of title as may be required. Notice of the exercise of any option provided herein, or in the note secured hereby, is not required to be given to the Mortgagor. In the event of the death of the Mortgagor, the pro- visions hereof shall inure to the respective heirs, executors, administrators, successors and assigns of the parties hereto. Where the word "he" or "his" is used herein, it is implied that the plural, the singular, and the use of any gender shall be applicable to all genders. As used herein, the phrases "its successors and assigns" or "its successors or assigns", if the mortgagees be a corporation, shall be deemed to be the heirs, executors, admini- strators and assignees of the mortgagors. Witness the hand(s) and seal(s) of the Mortgagor(s) this 27th day of January, 1959. Signed, sealed and delivered in the presence of: (INDIVIDUAL ACKNOWLEDGMENT) STATE OF RHODE ISLAND ) County of Washington ) ss: In Westerly on the 27th day of January, A. D. 1959, before me, personally appeared the above named Hassan H. Burdick and ally S. Turdick each and all to me known, being by me the parties executing the foregoing instrument, and severally acknowledged said instrument by them executed to be their free act and deed. Witness my hand and official seal, at said Westerly the day and year first above written. (Notarial Seal) MAY P. [illegible] Notary Public. Received for record February 23d, A. D. 1959 at 2:25 o'clock, p. m., and recorded by [Signature] Town Clerk