3/26/1912 · MORTGAGE ASSIGNMENT · book 17 page 248 doc 6695

240 KNOW ALL MEN by THESE PRESENTS, That I, George Koch, of the Town of East Green- wich, County of Kent, State of Rhode Island, in consideration of Four Thousand ($4,000.00) Dollars, paid by th EAST GREENWICH SAVINGS FUND and LOAN ASSOCIATION, a corporation duly established by the law, in the Town of East Greenwich and State of Rhode Island, the receipt whereof is hereby acknowledged, do hereby give, grant, bargain, sell and convey unto the said Corporation, its successors and assigns, That certain real estate situated in the Town of Charlestown, County of Washington, in the state of Rhode Island, with all the buildings and improvements thereon, and described as follows: That woodland acreage bounded on the north by the so called Pasture Path, which runs parallel with the center line of the Charlestown Beach Road and owned by Grace Browning, formerly the property of the late Robert Browning; Beginning at the northeast corner and running easterly parallel with the Pasture path to within three (3) feet of the westerly four (4) feet of some old vacant residence and located near the intersection of town Beach road, east of the upper post or wooden bridge; thence running from the stone colm in a southerly direction to the stonewall, which stonewall runs east and west and formerly opened Emma D. Barker's line wall between the formerly owned Porter and Budick estates and now running for the present owner Emma D. Barker; thence running westerly to the school house pond, said stonewall near the pond being bounded by sand and gravel, thence through wall past abutting against said Eleanor D. Baker land, the said Samuel S. Irene land beginning at past point from the road running south to the wall past running east about said Eleanor D. Baker land, to the road running from the ocean over the bridge of said Eleanor D. Baker at Charlestown, R. I. and in South Kingstown, R. I. This conveyance is made subject to restrictions of record. Together with a right of way to pass and repass to the Charlestown pond over the land of the heirs of Eleanor D. Baker at the shore of said pond. Also a right of way to pass and repass from the ocean over the bridge of said Eleanor D. Baker at Charlestown, R. I. and in South Kingstown, R. I. This conveyance is made subject to restrictions of record. TO HAVE AND TO HOLD, the aforementioned premises, with all the rights, privileges and appurtenances thereunto belonging unto and to the use of the said mortgagee, and its successors and assigns, forever. And I the said mortgagor, do hereby, for myself and for my heirs, executors, and administrators, covenant with the said mortgagee and its successors and assigns that I am lawfully seized in fee simple of the said granted premises; that the same are free from all incumbrances that I have good right, full power and lawful authority to sell and convey the same in 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 I the said mortgagor will, and my 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. And for the consideration aforesaid I, George Koch, covenant with the mortgagee that I am unmarried. THE CONDITION OF THIS DEED IS SUCH, that whereas I have this day pledged and transferred to the said Corporation twenty Shares, of its capital stock, said shares being in the fifty-third Series, as collateral security, together with the real estate hereby conveyed, for the performance of the terms, covenants and conditions of this mortgage and of the note hereinafter mentioned, upon which shares said sum of Four thousand ($4,000.00) Dollars, has been advanced to me by said Corporation, now, therefore, if I or my heirs, executors, administrators, or assigns, shall pay unto the said Corporation, its successors or assigns, the sum of Forty and 00/100 Dollars monthly, each and every month thereafter, at such times and places as shall be designated by said Corporation, or its successors or assigns, being the amount of the monthly dues on said twenty shares and of the monthly interest and premium upon said loan or advance of Four Thousand ($4,000.00) Dollars for which said shares are pledged and said note and mortgage 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, if I or my heirs, executors, administrators, or assigns shall otherwise sooner pay unto the said Corporation its successors or assigns, said sum of Four Thousand ($4,000.00) Dollars together with the said interest premiums and fines as aforesaid, to the time of such payment, and, until said loan shall be paid, or cancelled by the ultimate value of said shares, if I shall pay all taxes and assessments on the granted premises, as they shall become due, shall keep the buildings thereon insured against fire in a sum not less than Four Thousand ($4,000.00) Dollars, for the benefit of the grantee, its successors or assigns, at such insurance office as it or they shall approve, and shall not commit or suffer any strip or waste of the granted premises, or any breach of any covenant herein contained in whole, or in part, then this deed, as also a note of evidence of herewith, signed by me whereby I promise to pay to the grantee, or the order, the said sums at the times aforesaid, shall be void, otherwise shall be and remain in full force and effect. FURTHERMORE, I, the said mortgagor, hereby constitute and appoint the said Corporation, its successors or assigns my "attorneys" irrevocable, with full powers of substitution and revo- cation for me and in my name or in its or their name or names at any time, in case of nonpayment of the aforesaid monthly dues, interest, premium or fines for the period of thirty days after any payment thereof shall be due, or upon any other default in the performance or observance of the aforegoing condition, to sell the granted premises, or such portion thereof as may remain subject to this mortgage, in case of any partial release hereof, together with all improvements that may be thereon, and all benefit and equity of redemption of me or my representatives therein, at pub- lic auction in said Charlestown, first publishing a notice of the time and place of sale, once each week for three successive weeks, in one or more newspapers published in said East Greenwich, or the county of Washington and in its or their name or names as my Attorneys, to make, execute, seal, acknowledge and deliver to the purchaser or purchasers any deed or deeds that may be necessary to vest in such purchaser or purchasers a full and absolute estate in fee simple therein; and such sale shall forever bar me and all persons claiming under me from all right and interest in the granted premises, whether at law or in equity. And on such sale thereof (hereby granting unto my said Attorneys power to continue or ad- journ such sale from time to time) I do authorize said Attorneys to receive the amount the same may be sold for, and out of the money arising from such sale, the grantee, or its successors or assigns, shall be entitled to retain sufficient money to repay said loan or advance in full, to- gether with interest, premiums and fines, due, and all costs, charges and expenses incurred or sustained by reason of any failure or default on the part of me or of my representatives to per- form and fulfill the condition of this deed, including the taxes, assessments and premiums of insurance, if any, theretofore paid by said Association, its successors or assigns, upon said granted premises, first cancelling said pledged shares at their then withdrawal value and applying said withdrawal value in payment of said loan or advance and interest, premiums and fines due, and all costs, charges and expenses hereinbefore mentioned and then applying so much of the pro- ceeds of such sale as may be necessary, in addition to such withdrawal value, to repay fully said loan and to pay said interest, premiums, fines, costs, charges and expenses, in payment of all said claims of said Corporation or its successors, rendering the surplus of such proceeds, if any, to me or my legal representatives. IN WITNESS WHEREOF, I have hereunto set my hand and seal this 5th day of July in the year one thousand nine hundred and forty. Signed, sealed and delivered in presence of CLINTON G. CLOUGH GEORGE COCH (SEAL)

242 STATE OF RHODE ISLAND) County of Kent, ss. } In East Greenwich this 5th. day of July A. D., 1940, the above named George Koch known to me and known by me to be the party executing the foregoing instrument personally appeared before me and acknowledged the same to be his free act and deed. CLINTON G. CLOUGH Notary Public. Received for record July 8th, A. D. 1940 at 11:00 o'clock, a. m., and recorded by [Signature] Town Clerk THE EAST GREENWICH SAVINGS FUND AND LOAN ASSOCIATION, having received full payment and satisfaction of the within mortgage recorded in the records of land evidence in the 25th day of July in the State of Rhode Island, in Real Estate Mortgage Book Number 13 at page 408, does hereby remise, release and forever discharge the same, and covenants to and with the person making said payment, that it is the present owner of said mortgage. IN WITNESS WHEREOF it has hereunto set its corporate seal this 25 day of July A. D. 1947. In presence of Raymond Crompton EAST GREENWICH SAVINGS FUND AND LOAN ASSOCIATION by Florence E. Dugdale Treasurer. (Corporate Seal) Above discharge received for record August 6th, A. D. 1947 at 2:00 o'clock, p. m., and recorded by [Signature] Town Clerk