10/25/1962 · MORTGAGE · book 38 page 560 doc 7696@38/560

560 MORTGAGE DEED KNOW ALL MEN BY THESE PRESENTS THAT Five Seasons Hideaway of Charlestown #112, Inc., a Rhode Island Corporation, hereinafter called the "mortgagor", in consideration of Thirty-two thousand and no/100 ($32,000.00) Dollars to be paid by the Drazen Lumber Company, a Connecticut corporation, with its principal place of business in North Haven, Connecticut, hereinafter called the "mortgagee", the receipt whereof is hereby acknowledged, does hereby grant to the mortgagee, its successors and assigns forever, with MORTGAGE COVENANTS, to secure the payment of the principal and interest of a certain promissory note of the mortgagor of even date herewith, the following: Those certain lots or parcels of land situated in the town of Charlestown, County of Washington, State of Rhode Island, laid out and delineated as lots numbered 2, 7, 8, 79 and 75 on that plat entitled "Five Seasons Hideaway of Charlestown", recorded in the Charlestown Land Evidence Book 312 Page 120 - 20 sq ft. 1962 Oranges & Anthon's Surveyors", which plat was recorded in the records of the Land Evidence in said Town on October 24, 1962 as Plat 112; Being a part of the property that was conveyed to the mortgagee by deed of Margaret V. Macdonald dated September 18, 1962, and recorded in said Charlestown Records of Land Evidence in Book 38 Page 510. This mortgage is made upon the STATUTORY CONDITION and with STATUTORY POWER OF SALE, provided, however, that publication of notice of a foreclosure sale may be made alternatively in a public newspaper published in the City of Providence, Rhode Island and that a foreclosure sale may be held upon the premises or elsewhere at the option of the mortgagee as specified in said notice. This mortgage is hereby specifically made subject to the following additional covenants and agreements which the mortgagor for itself and its successors and assigns, hereby makes: 1. to pay all taxes and assessments of every nature levied or to be levied upon the premises prior to the full payment and discharge of this mortgage, whether under any present or future law; 2. to keep and maintain the exterior and interior of the building and improvements and the premises herein described at all times until full payment and discharge hereby, and in as good a condition and repair as the same now are, reasonable wear and tear excepted, without violating any zoning ordinances; that the mortgagee, its successors and assigns in writing of the mortgage has first been obtained; and to permit the mortgagee, its successors and assigns, to enter upon the mortgaged premises at all reasonable times to view and inspect the same; 3. that the mortgagee its successors and assigns may pay all taxes, assessments, water rates or insurance premiums not paid by the mortgagor when due, and all such sums shall be immediately receivable upon demand as additional indebtedness secured by this mortgage, and shall bear interest at the same rate as the promissory note mentioned until paid, and, together with such interest, shall be a further encumbrance upon the premises; 4. that if the mortgagor shall be declared bankrupt or insolvent or shall make an assignment or for the benefit of creditors or shall be placed under the control or in custody of any court, or if the mortgagor shall attempt to convey the premises or any part thereof in violation of any of said covenants, the mortgagee authorized and empowered, at its option, without notice and without affecting the lien hereby created or the priority of any such lien or any right of the mortgagee, hereunder, to declare all sums due hereunder immediately due and payable. If such default shall be made in the performance or observance of any of the additional covenants and agreements, the mortgagee shall have the lawful right to sell the above described premises pursuant to said POWER OF SALE. IN WITNESS WHEREOF, Five Seasons Hideaway of Charlestown #112, Inc. has caused its corporate name to be hereunto subscribed and its corporate seal to be hereunto affixed by its proper officer thereto duly authorized this 24th day of October, A. D. 1962. FIVE SEASONS HIDEAWAY OF CHARLESTOWN L.S. #112, Inc. By: WILLIAM SHAWBRUN STATE OF RODE ISLAND COUNTY OF Providence In Providence on the 24th day of October, A. D. 1962, before me personally appeared William Shawbrun to me known and by me to be the President of said Five Seasons Hideaway of Charlestown #112, Inc., and the party who executed the foregoing instrument, and acknowledged said instrument by him in so executing his said in capacity, to be his free act and deed and the free act and deed of said Five Seasons Hideaway of Charlestown #112, Inc. E. HAROLD DICK Notary Public Received for record October 25th, A. D. 1962 at 1:20 o'clock, p.m., and recorded by [Signature] Deputy Town Clerk