4/21/1916 · MORTGAGE · book 18 page 346 doc 7029

132 KNOW ALL MEN BY THESE PRESENTS: That we, BERTRAM 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 Thirty-five Hundred ($3500.00) Dollars to be paid by us to the WESTERLY SAVINGS FUND AND LOAN ASSOCIATION, a corpora- tion 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 said WESTERLY SAVINGS FUND AND LOAN ASSOCIA- TION (hereinafter called the mortgagee), its successors and assigns, forever, that lot or parcel of land with all buildings and improvements thereon, situated at Quonsetcong in the Town of Charlestown, County of Washington and State of Rhode Island, bounded and described as follows, to wit:— Beginning at the southeasterly corner of the premises herein described, at a point on the westerly line of the street of East Main street eighty (80) feet northwesterly along said street from a Stone boundary at the northeasterly corner of lot No. one on a plat entitled, "Beach Property at Flatland, in R. I., owned by Quonsetcong Company, Corporation," dated September 1952 and drawn by Leon L. Holland, Civil Engineer, which plat is on file in the Charlestown Land Evidence Records in Plat book 1 page 146; thence running northerly along said line, a distance of 110 feet, more or less, by land whose heretofore conveyed to Robert L. Dororthy and Marjorie C. heretofore conveyed to Robert L. Dororthy and Mary D. Kennedy, to land now or lately of Asa Toxxie by said Bertram D., and Mary D. Kennedy, to land now or lately of Asa Toxxie et ux whose heretofore conveyed to Robert L. Dororthy and Marjorie C. James Alfred Burdick; thence easterly a distance of 346 feet, more or less, by said Burdick land to the easterly line of the street, and thence southerly a distance of 205.80 feet, the point of beginning and place of beginning, bounded easterly by said East Main street. Together with a right of way for highway purposes as appurtenant to the above described land over and across the street or way as delineated on said plat lead- ing from said East Main street to the said premises. Being the same premises conveyed to said Bertram D. Kennedy and Mary D. Kennedy by Donna B. Jackson by deed dated February 26, 1937 and recorded in Book 26 page 627 of said Charlestown Land Evidence Records, except said portion thereof heretofore conveyed by said Bertram D. Kennedy and Mary D. Kennedy to Robert L. and Dorothy M. Carpenter as appears of record. Together with all buildings and improvements now or hereafter erected thereon, all the hereditaments, appurtenances and rights thereunto belonging or on in any wise now or here- after appertaining, the rents, issues and profits thereof, and all plumbing, heating, light- ing 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 incumbrances; that they have good right, full power and lawful authority to sell and convey the same in as 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 adminis- trators shall, warrant and defend the same to the said mortgagee, and its successors and as- signs, forever, against the lawful claims and demands of all persons. 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 Thirty-five Hundred ($3500.00) Dollars, together with the interest thereon, in one hundred forty-four (144) monthly install- ments of Thirty-two and 36/100 ($32.36) Dollars, each payable on the fourteenth day of each and every month succeeding the date hereof, all monthly installments in arrears to bear in- terest at the rate of two (2%) per cent per month until paid, all in the manner and accord- ing to the terms of a certain promissory note of the said mortgagors bearing even date here- with; and shall perform all the terms of a collateral agreement of even date herein made by said mortgagors with said mortgagee; and shall also pay all taxes, assessments, insurance

133 premiums, 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 whatso- ever. BUT IF DEFAULT shall be made in the payment of any of the sums of money above mention- ed, at the time or times when due aforesaid, or of the taxes, assessments, insurance prem- iums 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 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 mortgagees, 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 purchas- er at any such sale, and no other purchaser 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) 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 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 ap- pointed 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 prem- ises or sold in fee simple; and to receive the purchase moneys, and therefrom to retain all sums hereby secured, whether then payable 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 inci- dent 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 con- cerning the enforcement thereof or of said note or of these presents, and all taxes, water rates, assessments, insurance premiums and expense of repairs, either before paid by the said mortgagee 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 accountant of such sale or sales, expenses and charges, to the said mortgagors, their heirs, executors administrators and assigns, which sale or sales shall for- ever be a perpetual bar both in law and in equity against the said mortgagors, their heirs, ex- cutors, 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 mortgagee, 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.

134 AND FURTHERMORE, the said mortgagors, for themselves and for their heirs, executors, administrators and assigns, for the consideration aforesaid and to further increase the se- curity 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 the mortgages, its successors or assigns, in respect to said mortgage or any renewal thereof, whether under existing statutes, laws or foree or that may hereafter be enacted, all premiums for insurance maintained upon said premises, and all water rates and other expenses hereby secured by said premises. 2. To keep and maintain insurance against loss by fire upon the buildings on said premises payable in case of loss to said mortgagee, its successors and assigns, in an amount not less than Two Thousand Five Hundred ($2,500) Dollars and not less than the amount necessary to prevent the operation of coinsurance clauses in said policy, with an insurance company or companies that shall be satisfactory to the mortgagee, its successors and assigns, who are hereby authorized to effect said insurance upon the premises or parts or buildings or shall select any insurance effect upon said buildings by the mortgagee, its succes- sors and assigns, to whom the said mortgagors, their heirs, executors, administrators, said mortgagee, its successors and assigns hereby make, constituting and ap- pointing them their true and lawful attorney, for the purpose of said insurance, the WESTERLY SAVINGS FUND AND LOAN ASSOCIATION, or its successors, their true and unlawful controller attorney, irrevocable, to execute, in their name and seal but in the uncontrolled discre- tion of said attorney or its successors, any and all contracts and agreements and all losses which may occur under any such insurance, to give discharging receipts for any and all money paid for any such insurance, to receive and hold any money therefrom for all expense (including reasonable attorney's fees) incurred in con- struction thereof, and until the balance of said money is returned to said mortgagors, successors or assigns, who shall apply the same and any unearned premium of or dividend upon any such policy to the payment of any indebtedness secured hereby, or of any subsequent lien upon said premises, at its or their election whether in whole or in part upon any taxes, assessments or insurance premiums overdue, accrued or not then due, or in reimbursement of advances for taxes, assessments or insurance premiums, 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, moratorium or removal 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, the said principal, together with said advances and in- debtedness 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 20th day of May, A. D. one thousand nine hundred and forty-eight. Signed, Sealed and Delivered in presence of Betty B. Alger Henry Harris BERTRAND D. KENNEDY (SEAL) MARY D. KENNEDY (SEAL) STATE OF CONNECTICUT } } CT. County of New London } In Pawcutuck, on the 20th day of May, A. D. 1948, before me personally appeared the above named Bertram D. Kennedy and Mary D. Kennedy, 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 then executed, to be their free act and deed. HENRY HARRIS (Notarial Seal) Notary Public. Received for record May 22nd, A. D. 1948 at 11:49 o'clock, a. m., and recorded by Town Clerk THE WESTERLY SAVINGS FUND AND LOAN ASSOCIATION, having received full payment of all sums due Mortgage, does hereby cancel and discharge the same. In testimony whereof, said Association has caused its corporate seal and seal to be hereto affixed by the Assistant Treasurer thereof duly authorized, this 2nd day of January of 1959. In presence of WESTERLY SAVINGS FUND AND LOAN ASSOCIATION By Russell A. Lenihan, Asst. Treasurer (Corporate Seal) Received for record January 5th, A.D. 1959 at 9:05 o'clock, a. m., and recorded by Town Clerk