2/14/1912 · MISC · book 17 page 236 doc 6685

161. KNOW ALL MEN BY THESE PRESENTS: That we, BERTRAND D. KENNEDY and MARY D. KENNEDY, husband and wife, both of the Town of Charlestown, in the County of Washington and State of Rhode Island (hereinafter called the mortgagors) in consideration of Twenty-five Hundred ($2599.00) Dollars to us paid by the WESTERLY SAVINGS FUND AND LOAN ASSOCIATION, a corporation legally incorporated, and established and transacting business in the Town of Westerly, in the County of Washington, and State of Rhode Island, the receipt whereof is acknowledged, do hereby grant, bargain, sell and convey unto the said WESTERLY SAVINGS FUND AND LOAN ASSOCIATION (here- inafter called the mortgagee), its successors and assigns, forever, that lot or parcel of land with all buildings and improvements thereon, situated at quoocumquog in the Town of Charlestown and State of Rhode Island, and bounded and described as follows, to wit: Beginning at a stone bound on the westerly line of the east Beach Road at the northeasterly corner of Lot No. 4 on that plat entitled, "Peedy Plat in Charlestown, R.I.", owned by the Quay Realty Corporation, Scale of 1" = 100' or feet, September 1939, "Surveyed by A. S. Sargent", which plat is on file in the Charlestown Land Records in Plat Book 1 pages 37 and 38, a line westerly bounding said lot and running south 51 1/2 degrees east and plat Traverse seven- seven and fifty-eight one hundredths (137.58') feet to bound nor and laterly of Ana T. Haskell and wife, and thence running south 31 1/2 degrees east on the side of Ana T. Haskell described line, bounding westerly on said Haskell lot One hundred Twenty Three and thirty-five and fifty-one hundredths (123.51') feet to bound nor and laterly of Anna M. Burdick and thence easterly bounding northerly on said Burdick land to meet Beach Road thence southeasterly bounding easterly on said Beach Road One hundred Eighty- five and eighty-five one hundredths (185.85') feet to the point of beginning. Together with a right of way for highway purposes as appurtenant to the above described land over and across a street or way as delineated on said plat leading from said East Beach Road to said lot. Being the same premises conveyed to said Bertrand D. Kennedy and Mary D. Ken- nedy by Donna B. Jackson by deed dated February 26, 1937 and recorded in Book 26 page 69 of said Charlestown Land Evidence Office. Together with all buildings and improvements now or hereafter erected thereon, all the hereditaments, appurtenances and rights thereto belonging or an in any wise now or hereafter apper- taining, 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, and 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 in- cumbrances; that they have good right, full power and lawful authority to sell and convey the same in manner as aforesaid and 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 law- ful claims and demands of all persons THE CONDITION OF THIS DEED is, that, whereas we have this day pledged and trans- ferred to the said mortgagee -13- shares of its capital stock, said shares being in the 103rd Series, as collateral security, together with the real estate hereby conveyed, for the perform- ance of the terms, covenants and conditions of this mortgage and of the note hereinafter mention- ed, upon which shares said sum of Twenty-five Hundred ($2599.00) Dollars has been advanced to us by said mortgagee, now therefore, if we, the said mortgagors or our heirs, executors, administra- tors, or assigns, shall pay unto the said mortgagee, its successors or assigns the sum of Twenty- five and 93/100 ($25.93) Dollars monthly, each and every month thereafter, at such time and places as shall be designated by said mortgagee, or its successors or assigns, being the amount of the monthly dues on said -13- shares and of the monthly interest upon said loan or advance of Twenty-five Hundred ($2599.00) Dollars for which said shares are pledged and said note and mort- gage given, together with all fines chargeable by the By-Laws of said Corporation upon arrears of such payments, until said shares shall reach the ultimate value of two hundred dollars each, or

162. if we or our heirs, executors, administrators or assigns, shall otherwise sooner pay unto said mortgages, its successors or assigns, said sum of Twenty-five Hundred ($2500.00) Dol- lars together with the said interest and expenses as aforesaid, to the time of such payment, and until said loan shall be paid or cancelled by the ultimate value of said shares, and if we shall also pay all taxes, assessments, insurance premiums, water rates and other sums, the payments of which are hereby secured, and as when the same become due and payable, and shall perform all other covenants and conditions, all as provided herein or in the note above men- tioned on the part of the said mortgagors, or their heirs, executors, administrators and as- signs, to be paid or performed, then this deed as also promissory note shall become and be absolutely void to all intents and purposes whatsoever. BUT IF DEFAULT shall be made in the payment of any of the sums of money above men- tioned, at the time or times when due as aforesaid, or of the taxes, assessments, insurance premiums or water rates hereinafter specified, or any other sum of money the payment of which is hereby or by 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 thirty (30) days, or if breach shall be made of the covenant for insurance hereinafter contained or in the per- formance 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 declared to be immediately due and payable, then it shall be lawful for said mortgagee, its successors or assigns, to sell, together or in parcels, all and singular the premises hereby granted, 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 administrators and assigns therein, at public auction, and to bid for and become the purchaser at any such sale, and no other purchaser shall be allowable 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 town of Westerly 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 its or in its 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 revocations), 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 money, and to retain from all such sums hereby secured, whether then payable or to become payable thereafter, or the part thereof then re- maining unpaid, and also the interest then due on the same, together with all expenses incl- udent to such sale or sales, and all counsel fees and other expenses incurred in, or in any way connected with, the exercise or defense of these powers or with any proceeding or action concerning the enforcement thereof, or of said note or of these presents, and all taxes, water rates, assessments, insurance premiums and expenses of repairs, either therefore paid by the said mortgagee or then remaining unpaid, rendering and paying the surplus of said purchase money, if any there 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 premises so sold by, from or under them, or any of them. And the said mortgagors, for themselves and for their heirs, executors, administra- tors and assigns, hereby covenant with the said mortgages, 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.

163 AND FURTHERMORE, the said mortgagors, for themselves and for their heirs, executors, administrators and assigns, for the consideration aforesaid, and to further increase the secur- ity of this mortgage, do hereby covenant and agree to and with the said mortgagees, and its suc- cessors and assigns, as follows: 1. To pay, to all indebtedness hereby secured in accordance with the tenor of said note, all taxes and assessments of every nature levied or to be levied upon said premises or upon the mortgagees, its successors and assigns, in respect to this mortgage or any other loan made hereunder under other security forms or that may hereafter be enacted, all premiums for insurance maintained upon said premises, and all other costs and expenses hereby reserved herein provided. 2. To keep and maintain insurance against loss by fire upon the buildings upon said premises, payable in case of loss to said mortgagee, its successors and assigns, in at least such amount, not less than Twenty-five Hundred Dollars ($2500.00) Insurance shall be on trust with the mortgagee to prevent the lapse of insurance clauses, and in such form and in such company or companies as shall be satisfactory to such mortgagee, its successors and assigns, we do hereby authorize to effect such insurance through such agents or brokers as they may select; all insurance effect upon said buildings by the mortgagors, or their heirs, executors, administrators and assigns, whether or not reducible to mortgagee, its successors and assigns, to be payable to, and the policies there- of to be delivered to and held by the mortgagee, its successors and assigns, constituting and appointing the President or Secretary for the time being of said mortgagee, its successors and assigns, its successors and assigns, its attorneys and lawyers, or attorneys-in-fact, in their names and states but in the unhampered and unrestricted use of their powers not limited in any way, to collect and any all losses which may occur under any such insurance, to give discharge and release for such losses, and to apply the proceeds thereof to reimburse himself therefrom for all expenses (including reasonable attorney's fees) incurred in collecting such losses, and the remainder thereof to said mortgagee, its successors or assigns, who shall apply the same and the unearned premium of or dividend upon any cancelled insurance, notwithstanding any clause to the contrary, to the payment of any interest, installment of principal, or election in whole or in part upon any installments of the indebtedness hereby secured, whether due or not, or to the payment of any interest, taxes, assessments or insurance premiums, or upon the cost of replacing or restoring the damaged buildings or premises. 3. To maintain all buildings upon said premises in good repair, and not to cause or permit wall, demise or demolition or removal with first obtaining the written consent of the mortgagee, its successors and assigns. 4. That all amounts advanced by the mortgagees, its successors and assigns, for the payment of taxes, assessments, water rates or insurance premiums shall be repaid upon demand, and until such shall be added to the unpaid principal of the in- debtedness hereby secured and shall bear interest at the same rate of indebtedness, and together with such interest, shall be a further lien upon the premises secured by these presents. IN WITNESS WHEREOF, we have hereto set our hands and seals this seventeenth day of February, A. D. one thousand nine hundred and forty. Signed, Sealed and Delivered in presence of Henry Harris NELSON W. THORP STATE OF RHODE ISLAND) County of Washington ) ss. In Westerly, on the seventeenth day of February, A. D. 1940, before me personally appeared the above named Bertram D. Kennedy and Mary D. Kennedy, husband and wife, each all to me known and known by me to be the parties executing the foregoing instrument, and sev- erally acknowledged said instrument, by them executed, to be their free act and deed. NELSON W. THORP Notary Public. BERTRAM D. KENNEDY (SEAL) MARY D. KENNEDY (SEAL) Received for record February 19th, A. D. 1940 at 3:10 o'clock, p. m., and recorded by [Signature] Town Clerk The WESTERLY SAVINGS FUND AND LOAN ASSOCIATION, having received full payment of all sums due on this Mortgage, does hereby cancel and discharge the same. In testimony whereof, said Associa- tion has caused its corporate name and seal to be hereto affixed by the Assistant Treasurer there- of duly authorized, this 20th day of May, 1948. In presence of Henry Harris WESTERLY SAVINGS FUND AND LOAN ASSOCIATION (Corporate Seal) By E. Howard Clark, Asst. Treasurer Above discharge received for record May 22nd, 1948 at 11:48 o'clock, a. m., and recorded by [Signature] Town Clerk