6/18/1914 · TAX COLLECTORS DEED · book 18 page 63 doc 6888

409 KNOW ALL MEN BY THESE PRESENTS: That we, RALPH P. STOTT and MYRTLE B. STOTT, 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 Seventeen Hundred ($1700.00) 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, (hereinafter called the mortgagee) its successors and assigns, in the State of Rhode Island, that certain real estate situated in the Town of Charlestown, County of Washington, in the State of Rhode Island, and described as follows: A certain tract or parcel of land, together with the buildings and improvements thereon standing, known as the "Stott farm", commencing Begin- ning at a stone bound set in the ground on the northerly side of the State Highway leading from the Town of Charlestown to Wood River, thence south stone bound being the southeasterly corner of the tract hereby conveyed and the southeasterly corner of the State Highway, thence northwesterly, runs running in a westerly direction, bounded southerly by said State Highway, a distance of one hundred feet, thence northerly, thence bounded southeasterly called River, thence northerly, thence bounded easterly, thence bounded north- bank of said Pawcatuck River, a distance of One hundred forty (140) feet, more or less, to a stone bound, thence southerly, thence easterly, thence in a straight line, a distance of nine hundred eighty-six (986) feet to the point and place of beginning, or wherever otherwise the same may be bounded or de- scribed. Measuring and containing in lot number 3 (Three) as shown and delin- eated on a plan or plot entitled, "Plat of Land - Town of Charlestown -- Free hold. K. Kenyon land" filed with the Town Clerk of Charlestown, dated May 1939, which plan is Book 27 page 272 of the Land Evidence Records of said Town of Charlestown, and is hereby referred to and made a part hereof for the purpose of giving a particular description. Being the premises described in a deed from William T. Farmer, to Myrtle B. Stott, and Ralph P. Stott, dated July 22, 1938 and to be recorded in said Charlestown Land Ordinance Records. Together with all buildings and improvements now or hereafter erected thereon, all the hereditaments, appurtenances and rights thereunto belonging or on or 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 said are free from all incumbrances; that they 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 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 PROVIDED, NEVERTHELESS, this conveyance is made upon the express condition that, if said mortgagors, or their heirs, executors, administrators or assigns, shall not pay unto the said mortgagee, or its successors and assigns, the sum of Seventeen Hundred ($1700.00) Dollars, together with the interest thereon, in one hundred forty-four (144) monthly installments of Fifteen and 72/100 ($15.72) Dollars, each payable on the seventeenth 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 negotiable promissory note of even date herewith made by the said mortgagors with said mortgagee; and shall also pay all taxes, assessments, insurance premium, water rates and other sums, the payment of which is 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 said promissory note shall become and be absolutely void to all intents and purposes whatsoever.

410 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, insu- rance 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 performance of any other of the covenants or conditions of this mort- gage or of said note or collateral agreement, 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 or 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 mortgage, 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 purchase shall be answerable 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) suc- cessive 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; in and to their own names or names, or as the attorney or attorneys of the said mortgagees (for that purpose by these presents duly authorized and appointed with full power of substituti- on and revocation), to make, execute and deliver to the purchaser or purchasers on such sale or sales, good and sufficient deed or deeds of the premises sold in fee simple; and to receive the purchase moneys, and therefore to refrain from retaining all sums hereby secured, whether then payable or to become payable thereafter, or the part thereof then remaining unpaid, and also the interest 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 ex- ercise or defense of these powers or with any proceeding or action concerning the enforce- ment thereof or of said note or of these presents, and all taxes, water rates, assessments, insurance premiums, and expenses of repair, either heretofore paid by the said mortgagees or then remaining unpaid, rendering and paying the surplus of said purchase moneys, if any there be over and above the amounts so to be retained as aforesaid, together with a true and par- ticular account of sums or sales, and expenses charges, to the said mortgagees, their heirs, executors, administrators and assigns, which sale or sales shall forever be a perpet- ual bar both in law and equity against the said mortgagees, their heirs, executors, adminis- trators and assigns, and all persons claiming said premises so sold by, from or under, them or any of them. And the said mortgagees, for themselves and for their heirs, executors, adminis- trators and assigns, hereby covenant with the said mortgagees, 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 mortgagees, 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 to and with the said mortgagee, and its successors and assigns, as follows: 1. To pay 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 mortgagees or mortgagees in respect to this mortgage or mortgage indebtedness, whether under statutes now in force or that may hereafter be enacted, all premiums for insurance maintained upon said premises, and all water rates and other expenses hereby secured as herein provided.

411 2. To keep and maintain insurance against loss by fire upon the buildings upon said premises, payable in case of loss to said mortgagees, its suc- cessors and assigns, in at least such amount, not less than Seventeen Hundred (1700.00) Dollars and not less than the amount necessary to prevent the operation of the mortgage acceleration clause, and in such company or companies as shall be satisfactory to the mortgagee, its successors and assigns, and to keep said insurance in full force, either through its agents or brokers, or by makes they select, all insurance effect upon said buildings, and to pay all premiums thereon, their renewal, re- instators and assigns, or whether or not required by the mortgagee, its suc- cessors or assigns, whether such insurance shall be issued in the name of, to, said mortgagee, its successors and assigns, hereby making, constituting and appointing any officer or officers of the WESTERLY SAVINGS FUND AND SAVINGS FUND LOAN AND ASSOCIATION, or its successors, in their true and lawful attorney-at-arms, attorney-in-fact, absolutely, just and but in the uncon- trolled discretion of said association or its successors, just, sure, for and in collect and any and all losses which may occur under any such insurance, to give discharge receipt and release for any and all such losses, and for such losses, reimburse to himself therefore first, for all expense (including reasonable attorney fees) incurred in the collection thereof, and the balance deliver or transfer to said mortgagee, its successors or assigns, who shall apply the same and any other sums received by it under said mortgage, toward limiting standing any claim of any holder of any subsequent lien upon said premises, at its option, their election or discretion, toward the total amount of the total indebt- edness hereby secured, whether or not then due, or in reimbursement of advances for taxes, assessments or damages, or in addition to, or upon the cost of replacing or restoring the damaged buildings or improvements. 3. To maintain all buildings upon said premises in good repair, and not to cause or permit waste or demolition thereof, without first obtaining the written consent of the mortgagee, its successors and assigns. 4. That all amounts advanced by the mortgagee, its successors and assigns, for the payment of taxes, assessments, water rates or insurance premiums shall be repaid upon demand, and until paid, such sums, together with unpaid interest and principal indebtedness hereby secured and shall bear interest at the same rate as said indebt- edness, 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 seventeenth day of April, A. D. one thousand nine hundred and forty-five. Signed, Sealed and Delivered in presence of Betty B. Alzer Henry Harris RALPH P. STOTT (SEAL) MYRTLE B. STOTT (SEAL ) STATE OF CONNECTICUT ) ) SC. County of New London ) In Pawcatuck, on the seventeenth day of April, A. D. 1945, before me personally appeared the above named RALPH P. STOTT and MYRTLE B. STOTT, husband and wife, 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. HENRY HARRIS (Notarial Seal) Notary Public Received for record April 24th, A. D. 1945 at 4:20 o'clock, P. M., and recorded by 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 Association has caused its corporate name and seal to be hereto affixed by the Assistant Treasurer thereof duly authorized, this 6th day of December 1950. In presence of Katherine R. McCarroll WESTERLY SAVINGS FUND AND LOAN ASSOCIATION (Corporate Seal) By E. Howard Clark Asst. Treasurer Received for record December 9th, A. D 1950 at 9:55 o'clock, a. M., and recorded by Town Clerk