7/24/1962 · MORTGAGE · book 38 page 413 doc 7518@38/413

413 MORTGAGE DEED We, FRANCIS E. LEVASSEUR and JOYCE M. LEVASSEUR, husband and wife, both of the Town of Westerlyfield, in the County of Hartford and State of Connecticut, hereinafter called the mortgagors for consideration paid, grant to WESTERLY SAVINGS FUND AND LOAN ASSOCIATION, a corporation created by Act of the General Assembly of the State of Rhode Island, located having its principal office and place of business in the Town of Westerly, County of Washington and State of Rhode Island, hereinafter called the mortgagee, with MORTGAGE COVENANTS, to secure the payment of Fifty-five thousand ($55,000.00) Dollars, with interest thereon at the rate of 6% per annum as specified in a certain negotiable promissory note of the mortgagors of even date herewith, said principal and interest being payable in 144 monthly installments of Five hundred and eighty ($580.00) Dollars each on the twenty-third day of each successive month commencing August 23, 1962 until said principal and interest are paid in Full, all as provided in said note, the following described land, the above-mentioned land together with all buildings and other improvements now or hereinafter erected thereon, appertaining, and together with and including and as part of the realty, all heating and air-conditioning apparatus, plumbing, stoves, storm doors and windows, gas, oil and electric fixtures, screens, screen doors, awnings, other fixtures of whatever nature kind on said premises or hereafter placed thereon prior to the full payment and discharge of this mortgage, situated in the Town of Charlestown, County of Washington and State of Rhode Island, bounded and described as follows: Lot No. 37 as shown and delineated on a certain plat entitled, "Westerly Acres, Property of Charlestown Estates, Inc., December 1935" recorded in the Land Evidence Books of said Town in Book 80, page 41, November, 1938, Ross & Lewis, Engrs.", which plat is recorded in the Land Evidence Books of said Town of Charlestown in Plat Book 2, at page 25. Said Lot No. 37 is bounded as follows: Beginning at the southeasterly corner of the parcel herein described at a point on the westerly line of some highway avenue, said point being 75 feet northeasterly from the northeasterly corner of low land now of Honore Avenue, said point being 100 feet southeasterly from the parallel to the northeasterly line of Honore Avenue 100 feet, being a line running southwesterly to the northeasterly corner of the parcel herein described; thence southeasterly along the westerly line of some highway avenue 70 feet, more or less; thence easterly, to the northeasterly corner of the parcel herein described at a point on the westerly line of Honore Avenue, thence northeasterly along the westerly line of Honore Avenue, and then westerly 50 feet to the point on the westerly line of Honore Avenue, thence southeasterly by Honore Avenue, and northeasterly 52 feet to the point on the westerly line of some highway or formerly of Charlestown Estates, Inc. then Being the same premises conveyed to said Francis E. and Joyce M. Levasseur by Charlestown Estates, Inc. by a deed dated September 1, 1962, recorded in the Charlestown, Rhode Island Land Evidence Books in Book 36, at page 409. TOGETHER with all rights, privileges and easements set forth in said deed. This is a construction loan with all rights, mortgagors have applied for a mortgage in the sum of $55,000.00 to be secured by a mortgage on the above described premises upon which a building and other improvements are in the process of construction, and of said loan the sum of $10,000.00 is to be paid to the mortgagee, as a loan to the mortgagee, and the balance, to wit: $45,000.00 is to be paid to said mortgagees in installments under the rules and regulations of the mortgagee, as the construction progresses. This mortgage is made upon the STATUTORY CONDITION with the STATUTORY POWER OF SALE; Provided, however, that a foreclosure may be held upon the premises or elsewhere at the option of the mortgagee, as specified in the notice of such sale. This mortgage is made subject to those additional agreements and covenants contained in that instrument entitled ADDITIONAL COVENANTS OF MORTGAGE SATISFYING STATUTORY LOAN ASSOCIATION executed herewith by the mortgagors, a copy of which is made a part hereof by reference thereto, and which is recorded in the Land Evidence Books of said Town of Charlestown in Land Evidence Books Record Books 35 at pages 33-34. Said agreement's and covenants are by reference made part of this mortgage, and if default shall be made in the performance of any of said agreements and covenants, it shall be lawful for the mortgagee to sell the above described premises pursuant to said STATUTORY POWER OF SALE. And for the consideration aforesaid, we, the said mortgagors, release to the mortgagee all our right of dower and curtesy and all other rights, statutory and otherwise, in the aforementioned premises. WITNESS our hands this 23rd day of July, 1962. Executed in presence of James J. Morrison Norbert J. Rossi FRANCIS E. LEVASSEUR JOYCE M. LEVASSEUR STATE OF RHODE ISLAND County of Washington In the Town of Westerly, on the 23rd day of July, 1962, before me personally appeared the above named FRANCIS E. Levasseur and Joyce M. Levasseur, to me known and known by me to be the parties executing the foregoing instrument, and they acknowledged said instrument by them executed to be their free act and deed. ROBERT FESSEL Notary Public Received for record July 24th, A. D. 1962 at 9:30 o'clock, a. M., and recorded by [Signature] Town Clerk