4/12/1932 · MORTGAGE · book 25 page 92 doc 9022

92 KNOW ALL MEN BY THESE PRESENTS, that We, Charles J. Link and Dorothy T. Link, both of the Town of Richmond, in the County of Washington and State of Rhode Island, hereinafter called the mortgagors, in consideration of FIVE THOUSAND (5,000) Dollars to us paid by The Washington Trust Company, a corporation created by the General Assembly of state Rhode Island, located and doing a banking business in the Town of Westerly, in said County and State, as Trustee under Deed of trust made by Thomas L. Arnold, dated April 8, 1924, hereinafter called the mortgagee, the receipt whereof is hereby acknowledged, do hereby give, grant, bargain, sell and convey unto the said mortgagee, and its successors and assigns forever, a certain tract or parcel of land, with all the buildings and improvements thereon situated, situated in the Town of Charlestown, in said County and State, and described as follows: Lot No. 2 on a certain plat entitled "Indian Reservation Port Beach", which said plat is on file in the Town Clerk's Office in said Charlestown, in said town, and which said lot contains eighty-one four-hundredths (81/100) acres and more or less. Being the same premises conveyed to these Mortgagors as joint tenants and tenants by the entirety in deed from Grant G. Gavit bearing date of September 2, 1923 and recorded in the Records of Deeds of said Charlestown in Book 23, at page 493, and the same premises purchased by Benjamin F. Gavit, of the State of Rhode Island by deed dated August 11, 1882, and recorded in the Records of Deeds in said Charlestown in Book 11, at page 204, referring being hereby made to said plat and deed for a more definite description. TO HAVE AND TO HOLD, the aforesaid premises, with all the rights, privileges and appurtenances thereto belonging unto and to the use of the said mortgagee, and its successors and assigns forever, And we the said mortgagors, do hereby, for ourselves, and for our heirs, executors, and administrators, covenant with the said mortgagees its successors heirs and assigns that we are lawfully seized in fee simple of the said granted premises; that the same are free all from incumbrances that we 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 we the said mortgagors will, and our heirs, executors and administrators shall, warrant and defend the same to the said mortgagees and its successors and assigns forever against the lawful claims and demands fo all persons. PROVIDED, NEVERTHELESS, this conveyance is made upon the express condition, that if the said mortgagors their heirs, executors, administrators or assigns, shall pay unto the said mortgagee or its successors or assigns, the sum of five Thousand dollars, wherefor the said mortgagors have made their negotiable promissory note for said aggre- gate sum, bearing even date with these presents, and made payable to the order of the said The Washington Trust Company, as Trustee under Deed of trust made by Thomas L. Arnold dated April 9, 1924, six months from the date hereof, with interest thereon at the rate of six per centum, per annum payable semi-annually, in advance until said principal sum is paid, whether at or after maturity, and all installments of interest in arrear, whether before or after maturity, to bear interest at the rate aforesaid until paid, and shall also pay the sum of Two Hundred and fifty Dollars per year on account of the principal of said promissory note; and shall also pay all taxes and assessments of every kind levied or assessed upon or in respect of said premises, then this deed, as also said promissory note, shall be absolute and absolutely void to all intents and purposes whatsoever.

93 BUT IF DEFAULT shall be made in the payment of the said promissory note or of said interest, at the time or 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 the said mortgagee, its successors or assigns, to sell, together or in parcels, all and singular, the premises hereby granted or intended to be granted, or any part or parts thereof, and the benefit and equity of redemption of the said mortgagor, and their heirs, executors, administrators and assigns, heirs, thereit, by public auction upon the premises, and to bid for and become the purchaser or purchasers at any such sale and no other purchaser or purchasers shall be answerable for the appli- cation of the purchase money, first giving notice of the time and place of sale by publish- ing the same at least once each week for three successive weeks in some public newspaper published in said County of Washington with power to adjourn such sale from time to time, provided that the publishing of said notice shall be continued, together with a notice of the adjournment or adjournments, at least once each week in the same newspaper; and in their own or name names, or as the attorney or attorneys of the said mortgagor, (for that purpose) by these presents duly authorized and appointed with full power of sub- stitution and revocation), to make, execute and deliver to the purchaser or purchasers at such sale a good and sufficient deed or deeds of sale premises in fee simple to and re- ceive the proceeds of such sale or sales, and from such proceeds to retain all sums hereby secured, whether then due or to fall due 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, or for making deeds hereunder, and for fees of counsel and attorneys, and all costs or expenses incurred in the exercise of said powers, all taxes, assess- ments and premiums for insurance, if any, either heretofore paid by the said mortgagor, its successors or assigns, or then remaining unpaid upon said granted premises rendering and paying the surplus of said proceeds of sale if any there by, over and above the amounts so to be retained as aforesaid, together with a true and particular account of such sale or sales, expenses and charges, to the said mortgagor, its successors or assigns, which sale or sales made as aforesaid shall forever be a perpetual bar both in law and equity against the said mortgagors, their heirs, executors, administrators and assigns, all persons claiming said premise, sold, so, by them, or under them, or any of them. And the said mortgagors, for themselves and for their heirs, executors, adminis- trators and assigns, hereby covenant with the said mortgagee, and its successors and assigns, that they will upon request execute such deed or deeds confirmatory of said sale or sales as may be required. And FURTHERMORE, we the said mortgagors, for ourselves and for our heirs, executors, administrators and assigns, hereby covenant with the said mortgagee, and 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 the said mortgagee, and its successors or assigns, shall approve, in a sum not less than five Thousand dollars, and that the policy or policies of such insurance shall be assigned and transferred, and made payable in case of loss to the said mortgagee, and its successors or assigns, and that the premium or premiums paid therefor shall be a further charge upon said granted premises, secured by these Presents. In WITNESS WHEREOF we hereunto set our hands and seals this eleventh day of April in the year of our Lord one thousand nine hundred and thirty-two.

94 Executed in presence of THOMAS PERRY DAVID ROBERTSON CHARLES J. LINK DOROTHY T. LINK STATE OF RHODE ISLAND, &c.) County of Washington, Sc. ) In Westerly on the 11th day of April, A. D. 1932 before me personally appeared Charles J. Link and Dorothy T. Link to me known and known by me to be the parties executing the foregoing instrument, and they acknowledged said instru- ment, by them executed, to be their free act and deed. DAVID ROBERTSON Notary Publicis. Received for record, April 12th, A. D. 1932, at 3:35 o'clock P. M. and recorded by Town Clerk. The Release of Thomas L. Arnold, by The Washington Trust Company, an executor thereof, the undersigned, having received full payment and satisfaction of the within mortgage recorded in the records of land evidence in the Town of Charles- town, State of Rhode Island, in book number 11, page number 116, and continuing at pages 72-93-94, hereby cancel and discharges the same. And it covenants to and seisin the person making said payment, that it is the present owner of said Mort- gage. IN WITNESS WHEREOF said The Washington Trust Company has caused these presents to be executed and its corporate seal to be hereunto affixed by Thomas Perry, one of its Vice Presidents, therefore duly authorized, this nineteenth day of October, 1939 In presence of SHERIFF BANKS THE WASHINGTON TRUST COMPANY(Corporate Seal) Westerly, R. I. As executor under Will of Thomas L. Arnold by THOMAS PERRY, Vice Pres. & Trust Officer Above discharge received for record October 11, A. D. 1939 at 9:20 o'clock, a. m., and recorded by Town Clerk