6/11/1910 · DEED · book 16 page 441 doc 6506

8 KNOW ALL MEN BY THESE PRESENTS: That We, John Yale Crouter and Florence I. Crou- ter, his wife, both of the City of Providence and State of Rhode Island, (hereinafter called the mortgagors) in consideration of Twenty Five Hundred ($\$2500.00$) Dollars to us paid by the OLD COLONY CO-OPERATIVE BANK, a corporation legally incorporated, and established and trans- acting 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-OPER- ATIVE BANK (hereinafter called the successors), its successors and assigns, forever. Those two (2) certain lots of land, situated on the southeasterly side of n Neptuns Avenue, in the Town of Charlestown and State of Rhode Island, all of which is and described as and by the following bounds: Lot One (1) measuring fifty (50) feet (one hundred fifty-one) western on that plat mentioned, "Plot of quonsetpoint Cent Beach Charlestown, R.I. by Sharp Construction Inc. Agent: Robert Harris & Lewis, Sharp" dated June 10, 1929" which is recorded in the office of the Town Clerk in said Town of Charlestown in Map Book 1 at pages 29 and 30. Said premises are subject to restrictions, conditions, rights and rights of way, all of record. Together with all the 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 thereof, and all plumbing, heating, lighting and other fixtures, equipment and articles now or hereafter attached thereto. TO HAVE AND TO HOLD the aforementioned premises, with their appurtenances, unto and to the use of the said mortgagee, for its successors and assigns, forever. And the said mortgagors do, hereby, for themselves and for their heirs, executors and administrators, covenant with the said mortgagee, and its successors and assigns, that they are lawfully seized in fee simple of the said granted premises; that the same are free from all incumbrances; except as aforesaid; that they have good right, full power and lawful authority to sell and convey the same in the manner as aforesaid; that the said mortgagee, and its successors and assigns, shall by these presents at all times hereafter peaceably and quietly have and enjoy the said premises, and that the said mortgagors will, and their heirs, executors and administrators shall, warrant and defend the same to the said mortgagee, and its successors and assigns, forever, against the lawful claims and demands of all persons except as aforesaid. And for the consideration aforesaid, we, said John Yale Crouter and Florence I. Crouter, do hereby release all our right of courtesy and dower, respectively, and all other rights, statutory or otherwise, in and to the said granted premises unto the said mortgagee, and its successors and assigns, forever. PROVIDED, NEVERTHELESS, that this conveyance is made upon the express condition that, if said mortgagors, or their heirs, executors, administrators or assigns, shall pay unto the said mortgagee, or its successors or assigns, the sum of Twenty Five Hundred ($\$2500.00$) Dollars, together with the interest thereon, in monthly installments of Twenty Five ($\$25.00$) Dollars each payable on the 20th day of each and every month succeeding the date hereof, all monthly installments in arrears to bear interest at the rate of two (2) per cent per month until paid, all in the manner and according to the terms of a certain promissory note of the said mortgagors bearing the even date herewith; and shall also pay all taxes, assessments, insurance premiums, water rates and other sums, the payment of which are hereby secured, as and when the same become due and payable, and shall perform all other covenants and conditions, all as provided herein or in the note above mentioned on the part of the said mortgagors, or their heirs, executors, administrators and assigns, to be paid or performed, then this deed as also promissory note shall become and be ab- solutely void to all intents and purposes whatsoever ever. BUT IF 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 of the taxes, assessments, in- surance premiums or water rates hereinafter specified, or any other sum of money the pay-

9 ment of which is hereby or by this said note required or secured or of any portion thereof at the time or times when due as herein or therein provided, and such default shall continue for three (3) months), or if breach shall be made of the covenant for insurance hereinafter contained or in the performance of any other of the covenants or conditions of this mortgage or of said note, or if the whole of said principal sum shall not be paid when lawfully due, declared to be immediately due and payable, then it shall be lawful for said mortgagee, its suc- cessors or assigns, to sell, together or in parcels, all and singular the premises hereby grant- ed, or intended to be granted (herein called the premises), or any part or parts thereof, and the benefit and equity of redemption of the said mortgagors, and their heirs, executors, admin- istrators and assigns therein, at public auction, and to bid for and be the purchaser at any such sale, and no other purchaser shall be admissible for the application of the purchase money, first giving notice of the time and place of sale, by publishing the same at least once each week for three (3) successive weeks in some newspaper published in said City of Providence, with power to adjourn such sale from time to time, provided that the publication of said notice shall be continued, together with a notice of the adjournment or adjournments, at least once each week in the same newspaper, such sale to be upon the premises or elsewhere as specified in such notice, and in its or their own name or names, or as the attorney or attorneys of the said mortgagors, (for that purpose by these presents duly authorized and appointed with full power of substitution and revocation), to make, execute and deliver to the purchaser or purchasers at such sale or sales, good and sufficient deed or deeds of the premises sold in fee simple; and to receive the purchase moneys, and therefrom to retain all sums hereby secured, whether they be pay- able or to become payable thereafter, or the part thereof then remaining unpaid, and also the interest then due on the same, together with all expenses incident to such sale or sales, and all counsel fees and other expenses, incurred in, or in any way connected with, the exercise or de- fense of these powers or with any proceeding or action concerning the enforcement thereof or of said note or of these premises, and all taxes, water rates, assessments, insurance premiums and expenses of repairs, either heretofore paid by the said mortgagors or then remaining unpaid, ren- dering and paying the surplus of said purchase moneys, if there any be over and above the amounts so to be retained as aforesaid, together with a true and particular account of such sale or sales, expenses and charges, to the said mortgagors, their heirs, executors, administrators and assigns, which sale or sales shall forever be a perpetual bar both in law and equity against the said mortgagors, their heirs, executors, administrators and assigns, and all persons claiming said prem- ises so sold by from, or under them, or any of them. And the said mortgagors, for themselves and for their heirs, executors, administrators and assigns, hereby covenant with 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 mortgagors, for themselves and for their heirs, executors, administrators and assigns, for the consideration aforesaid and to further increase the security of this mortgage, do hereby covenant and agree and to with the said mortgagee, its successors and assigns, as follows: 1. To pay all installments hereby secured in accordance with the tenor of said note, all taxes and assessments of every nature levied upon or to be levied upon said prem- ises or upon the mortgagors, of every nature levied upon or to be levied upon said prem- ises or upon the mortgagors, its successors or assigns, in respect to this mortgage or mortgage by installment, when due, whether such utilities now in force or that may hereafter be enacted, and to promptly pay all insurance premiums upon and insure all water rates and all other expenses hereby secured as herein provided. 2. To keep and maintain insurance against loss by fire upon the buildings upon said premises, payable to the mortgagee or loss, its successors or assigns, in at least such amount, not less than Twenty five Hundred ($2500.00) Dollars and not less than the amount of the principal of the collective mortgage, and in such form and in such company or companies as shall be satisfactory to the mortgagee, its successors or assigns, and duly authorized to effect such insurance through such agents or brokers as they may select, all improvements erected upon said buildings by the mortgagors, or their heirs, executors, administrators and assigns, whether or not required by the mortgagee, its successors or assigns, to be

10 payable to, and the policies thereof to be delivered to, said mortgagees, its successors and assigns; hereby making, constituting and appointing the First National Bank of Providence, Rhode Island, and the OLD COLONY CO-OPERATIVE BANK, or its successors, their true and lawful attorney or attorneys, irrevocable, in our name and stead but in the uncontrolled discretion of said attorney, to demand, adjust, one from the other or all together, and all losses or damages which occur under any such insurance, to give discharging receipts for any and all sums received in settlement of such losses, to release themselves from all expenses (including reasonable attorneys' fees) incurred in connection therewith, and to deliver the proceeds of such insurance to said mortgagees, or their successors, who shall apply the same and any uninsured premium of or dividend on any cancelled insurance, not included in the settlement, and any subsequent insurance on said premises, at its or their discretion in whole or in part on any impairment within of the premises themselves or any other property of ours or any subsequent loan or of advances for taxes, assessments or insurance premiums, or upon the cost of re- placing or restoring the damaged buildings or improvements. To maintain all buildings upon said premise in good repair, and not to cause or permit waste, or demise, or encumber the same, without obtaining the written consent of the mortgagees, its successors and assigns. That all amounts advanced by the mortgagees, its successors and assigns, for the payment of taxes, assessments, water, sewer or insurance premiums shall be repaid upon demand, and until said repaid shall be added to the unpaid principal and the int- erest shall accrue thereon daily at the rate of six per cent per annum, and together, with such interest, shall be a further lien upon the premises secured by these presents. IN WITNESS WHEREOF, we have hereunto set our hands and seals this 20th day of June, A. D. one thousand nine hundred and thirty-nine. Signed, Sealed and Delivered) in presence of ) ROSA T. ROSSI ) JOHN YALE CROUTER (SEAL) FLORENCE L. CROUTER (SEAL) STATE OF RHODE ISLAND,) ) SS. County of Providence ) ) On the 20th day of June, A. D. 1939, before me personally appeared the above named mortgagors, John Yale Crouter and Florence L. Crouter, each and all to me known and known by me to be the parties executing the foregoing instrument, and severally acknowledged said instrument, by them executed, to be their free act and deed. ROSA T. ROSSI Notary Public. Received for record June 21st, A. D. 1939 at 10:15 o'clock, a. m., and recorded by [Signature] Town Clerk THE OLD COLONY CO-OPERATIVE BANK, having received full payment and satisfaction, does hereby cancel and discharge this Mortgage Deed. IN WITNESS WHEREOF, said bank has caused these Presents to be signed on its behalf by its Assistant Secretary and by its Assistant-Secretary and its corporate seal to be hereto affixo- ed by its Assistant-Secretary, all hereto duly authorized this, 26th day of May A. D. 1942. Signed, Sealed and Delivered) in presence of ) OLD COLONY CO-OPERATIVE BANK, Ruth B. Parsons ) By Katherine M. Ryan (Corporate Seal) Assistant-Secretary Catherine J. McDermott Assistant-Secretary Above discharge received for record August 25th, A. D. 1942 at 6:10 o'clock, p. m., and recorded by [Signature] Town Clerk