2/11/1932 · MORTGAGE · book 25 page 73 doc 9007

73 KNOW ALL MEN BY THESE PRESENTS: That I, THURMAN F. BRIDGE, of the Town of CHARLESTOWN, County of WASHINGTON and State of RHODE ISLAND (hereinafter called the mort- gagor) in CONSIDERATION of SEVEN HUNDRED ($700.) Dollars to be paid by Industrial Trust Company, a Corporation created by the General Assembly of the State of Rhode Island, and located and transacting business in the City and County and Providence, in said State, the receipt whereof is hereby acknowledged, do hereby grant, bargain, sell and convey unto said Industrial Trust Company, its Successors and Assigns, forever: Two certain tracts or parcels of land located at Quonochontough Beach, sc. called, in the said Town of Charlestown, the first tract being described as follows:- Beginning at a stone post marking the Northwesterly corner of the property of tracts along South wing of the line formed by owners Charles Hickman and George Hungerford, then running South 15 degrees West 40 feet to West thirty-six (36) feet to a stone post; thence West 45 degrees North, one Hundred fifty feet to a stone post; thence North 15 degrees East 40 feet to a stone post; and the first mentioned bound, containing by estimation thirty-six (36) square rods, be it more or less; the said tract being bounded on the North by Bucklin, on the South and on the West by the land of Ezra Trim). On the South by the grounden and on the West by the land of Ezra Trim). The second tract of land being Easterly and Northerly of the aforementioned first tract is two tracts of two lots, one of which was purchased by added Fromer through deeds of R. Binols and wife to the grantor dated May 2, 1933 recorded in the Land Records of the town of Charlestown in Book 11 Page 88 and the other being dated conveyed by Timothy J. Sullivan by deed dated August 4, 1930 and recorded in the Land Records of the town of Charlestown in Book 11 Page 89 at Page 121. Reference is made to said deeds and the Records thereof being hereby had and made part of the memorandum of these presents, for a more definite description of the property herein conveyed. Said first trust is subject to a mortgage of Eight hundred ($800.) Dollars to Ezra G. Trimton. TO HAVE AND TO HOLD the aforegoes premises, with their appurtenances unto and to the use of said Industrial Trust Company, its Successors and Assigns, forever. And I, the said mortgagor, do hereby, for myself and for my heirs, executors and administrators, covenant with said Industrial Trust Company, its Successors and Assigns, that I am lawfully seized in fee simple of the said grant premises; that the same are free from all incumbrances except as aforesaid that I have good right, full power and law- ful authority to sell and convey the same in manner as aforesaid; that said Industrial Trust Company, its Successors and Assigns, shall by these presents at all times hereafter peaceably have and enjoy the said premises, and that the said mortgagor will, and his heirs, executors and administrators shall, warrant and defend the same to said Industrial Trust Company, its Successors and Assigns, Coverer, against the lawful claims and demands of all persons except as aforesaid and also pay the mortgages, taxes, assessments and other expenses hereby secured as hereinafter provided. And for the consideration aforesaid, I, Elizabeth M. Aldridge, wife of the said Thurman F. Aldridge do hereby release all my right of dower in and to the said granted premises unto said Industrial Trust Company, its Successors and Assigns, forever. PROVIDED, NEVERTHELESS, that if I, the said mortgagor, or my heirs, executors administrators or assigns, shall pay unto said Industrial Trust Company, its Successors or Assigns, the sum of Seven hundred ($700.) Dollars, in six (6) months from the date hereof, with interest thereon at the rate of Six (6%) per centum per annum, payable semi-annually in advance until said principal is paid, whether at or after maturity, and all install- ments of and interest in arrears, whether before or after maturity, to bear interest at the rate aforesaid until paid, and shall also pay all taxes or assessments of every kind levied or assessed upon or in respect of the said premises, or upon said Industrial Trust Company, its Successors or Assigns, in respect of this mortgage or mortgage deed, whether under statutes now in force or that may be hereafter enacted, then this deed, as well as my Promissory note whereby I, the said mortgagor promise to pay said Industrial Trust Company or order, the sum aforesaid with interest as aforesaid, at the times aforesaid, will become and be absolutely void to all intents and purposes whatsoever.

74 BUT IF DEFAULT shall be made in the payment of the said sum or of said interest at the times and in the manner aforesaid, or of the taxes or assessments aforesaid as the same become payable, or of any or either of them, or of any part thereof, or if breach shall be made of the covenant for insurance hereinafter contained, then it shall be lawful for said Industrial Trust Company, its Successors or Assigns, to sell, together or in parcels, all singular the premises hereby granted, or in- terested to be granted, or any part or parts thereof and the benefit and equity of re- demption of the said mortgagor and of the said Elizabeth M. Eldridge 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 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 successive weeks in some newspaper published in said Washington County with power to adjourn such sale from time to timer and such sale to be upon the premises or elsewhere, as specified in our such notice; and in its or their own name or names, or as the attorney or attorneys of the said mortgagor and of the said Elizabeth M. Eldridge (for that purpose by these presents duly authorized and appointed 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 sale promising in fee simple; and to receive the purchase moneys, and therefrom to retain all sums hereby secured, whether then due or then to fall due thereafter, or the part thereof then remaining unpaid, and also the interest then due on the same, together with all expenses incident to such sale or sales, and all other fees and other expenses incurred in, or in any way con- nected with the exercise of these powers, and all taxes and assessments aforesaid, and all premiums paid by said Industrial Trust Company, its Successors or Assigns, either therefore paid or then remaining unpaid, rendering and pay- ing the surplus of said purchase money, if any there be over and above the amounts so to be retained as aforesaid together, with a true and particular account of such sale or sales, expenses or charges, to the said mortgagor, his heirs, executors, administrators or assigns, which sale or sales shall forever be a perpetual bar both in law and equity against the said mortgagor, and the said Elizabeth M. Eldridge, their heirs, executors, administrators and assigns, and all persons claiming said premises as sold by, from or under it, them, nor any of them. And I, the said mortgagor, for myself and for my heirs, executors, administra- tors and assigns, hereby covenant with said Industrial Trust Company, its Successors and Assigns, that I or they will upon request execute such deed or deeds confirma- tory of such sale or sales as may be necessary or advisable. And FURTHERMORE, I, the said mortgagor, for myself and for my heirs, ex- cutors, administrators and assigns, hereby covenant with said Industrial Trust Company, its Successors and Assigns that insurance against loss by fire shall be kept and maintained on the buildings on the premises aforesaid, in such office or offices as said Industrial Trust Company, its Successors and Assigns, shall approve, in a sum not less than: Seven hundred (700.) Dollars, and that all policies of insurance upon said buildings shall be assigned and transferred, or made payable in case of loss to said Industrial Trust Company, its Successors and Assigns, as collateral security thereto, and, in default thereof, hereby agree that said Industrial Trust Company, its Successors and Assigns, may effect such insurance either in its or their own name, or in the name of said mortgagor, his heirs or assigns, and that the premium or premiums

75 paid therefor shall be a further charge upon said granted premises, secured by these presents as aforesaid. IN WITNESS WHEREOF, we have hereunto set our hands and seals this tenth day of February A. D. one thousand nine hundred thirty-two. Signed, sealed and delivered } THURMAN F. ELDRIDGE (L. S.) } in presence of } ELIZABETH M. ELDRIDGE (L. S.) } GILBERT S. BISSET} STATE OF RHODE ISLAND } } ss. COUNTY OF WASHINGTON } In Westerly on the tenth day of February A. D. 1932 before me personally appeared the above named Thurman F. Eldridge and Elizabeth M. Eldridge, husband and wife each and all to me known, 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. GILBERT S. BISSET Notary Public. Received for record, February 11th, A. D. 1932 at 8:20 o'clock A. M. and recorded by [Signature] Town Clerk.