8/17/1932 · MORTGAGE · book 25 page 167 doc 9084

167 KNOW ALL MEN BY THESE PRESENTS, that I, KATHERINE I. WATSON, of the Town of Hopkinton, in the County of Washington, and State of Rhode Island, hereinafter called the mortgagor, in consideration of Fifty nine thousand ($5900.) Dollars to me paid by The Washington Trust Company, a banking corporation established by the General Assembly of the State of Rhode Island, having its principal office and place of business in the Town of Westerly, said County and State, and a branch at Hope Valley, said Town of Hopkinton, said County and State, 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 of beach land situated in the Town of Charlestown, said County and State, bounded and described as follows: Beginning at the southeast corner of a lot of southeast corner of said tract and at the southeast corner of a lot of land known as the salt meadow, then northerly bounding easterly by said lot of Wilcox land to the lot of Susanna Reed thence northerly bounding northerly by said lot of Susanna Reed to the lot of James Greene then northerly bounding northerly by early land of said Reed to the highway the hence highway westerly bounding northerly by said highway to the lot of James Greene then southerly bounding southerly by bounding westerly by land of said Heap to the sea, thence easterly bounding southerly bounding northerly by said highway more or less, or in the place of the beginning. Also with all the buildings thereon as well as any that may be hereafter erected upon said land. Also a certain tract of marsh land situated in said Charlestown, containing one half acre more or less, or more or less, bounded as follows: Beginning at the northeast corner of a lot of land called the Salt Meadows Road and bounding east set in a straight line with the two stone posts until it comes to the first stone post; thence southwesterly in a straight line until it comes to the second stone post; then to the second stone post; bounded on the North by land formerly of Charles I. Greene thence southwesterly in a straight line from the second stone mentioned posts stone to the northeast corner of the piece of land of the house of James Greene thence southwesterly in a straight line about one hundred foot or ft until it comes to a point two rods northerly from the lot above described, bounded on the east by the Salt Meadow Road; thence northerly thence easterly on a line parallel with the ninth line above described lot a distance of two rods from the said unit it comes to land formerly of James I. Greene thence southeasterly to the boundary of Charles Greene; thence southerly two rods, bounded on the east by land formerly of James I. Greene thence southeasterly to the salt it comes to the ascent west corner of land of formerly of Charles J. Greene, bounded on the south by land of this mortgagor and others, thence northerly of alters it southeasterly northerly until it comes to said Charlestown Road, bounded on the west by land formerly of James Greene and others, and thence along said Road to the place of the beginning or however otherwise either of said tracts may be bounded. TO HAVE AND TO HOLD, the aforementioned 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 I the said mortgagor, do hereby, for myself and for my heirs, executors, and administrators, covenant with the said mortgagee and its successors and assigns that I am lawfully seized in fee simple of the said granted premises; that the same are free from all incumbrances excepting a prior mortgage for $2900, to William McWay evidenced by deed dated May 26, 1928 and recorded in Book no. 22 page 213 of Records of Real Estate Mortgages in said Town of Charlestown; that I have right good, full power and lawful authority to sell and convey the same in manner as aforesaid; that the said mortgagee and its successors heirs and assigns shall by these presents at all times hereafter peaceably and quietly have and enjoy the said premises, and that I the said mortgagor will, and my heirs, executors and administrators shall warrant, and defend the same to the said mortgagee and its successors and assigns forever against the lawful claims and demands of all persons. And for the consideration aforesaid I, GEORGE A. WATSON, husband of said Katherine I. Watson, and hereinafter included with her in the term "mortgagors" do hereby release all my right of curtesy and all other rights, statutory or otherwise, in and to the said granted premises unto the said mortgagee and its successors and assigns, forever. PROVIDED, NEVERTHELESS, that this conveyance is made upon the express condition that if the said mortgagors or their heirs, executors, administrators or assigns, shall

168 pay unto the said mortgages or its successors or assigns, the sum of Fifty-nine hundred ($5900.) dollars, wherefor the said mortgagors have made their negotiable promissory note for said aggregate sum, bearing even date, with these presents, and made payable to the order of The Washington Trust Company (said note being given as collateral security for the payment of a certain other note of even date herewith for $5900. payable to the mortgagee one month after date, jointly and severally made by the mortgagors, and as collateral security for the payment of any renewals or substitutions of said other note) on demand after the date hereof, with interest at the rate of six (6%) per centum, per annum, until said principal sum paid, whether at or after maturity, and all installments of interest in arrear, whether before or at after maturity, to bear interest at the rate aforesaid until paid 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 become and be absolutely void to all intents and purposes whatsoever. BUT IF DEFAULT shall be made in the payment of the said notes, or renewals or substitutions thereof, or of said interest, at the time or times and in the manner afore- said, or the same become payable, or any of 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 mortgage, its successors or assignees, 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 mortgagors and their heirs, executors, administrators and assigns, therein, at 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 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 the Hope Valley Advertiser, a news- paper published in Hope Valley, Rhode Island,however 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 or its own names or name, or as the attorney or attorneys of the said mort- gagors (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 pur- chasers at such sale a good and sufficient deed of sale or deeds of premises in fee simple and to receive the proceeds of such sale or sales, and from such proceeds to retain all sums hereby securing, whether then due or on due or shall fall 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, or for making deeds therefore, and for fees of counsel and attorneys, and all costs or expenses incurred in the exercise of said powers, and all taxes, assessments and premiums for insurance, if any, either therefore paid by the said mortgage, 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 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 and charges, to the said mortgagors, their heirs, executors, administrators 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, and all persons claiming said premises, so sold by, from or under them, or any of them. AND we the said mortgagors, for ourselves and for our heirs, executors, administrators and assigns, hereby covenant with the said mortgages, and its successors

169 and assigns, that we and they will upon request execute such deed or deeds confirmatory of said sale sales or as may be required. AND furthermore, we the said mortgagor, 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 designated by the mortgagee and that the policy or policies of such insurance shall be assigned and trans- ferred, or made payable in case of loss, to the said mortgagee, or its successors or assigns as collateral security hereto, and in default thereof, hereby agree that the said mortgagee, or its executors, administrators or assigns, may effect such insurance in the name of the said mortgagor, and successors and assigns, 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 have hereunto set our hands and seals this eleventh day of August, in the year of our Lord one thousand nine hundred and thirty two. Executed in presence of ROBERT MITCHELL KATHERINE I. WATSON (SEAL) GEORGE A. WATSON (SEAL) STATE OF RHODE ISLAND, &c.) } County of Washington, } } In Hope Valley on the 15th day of August, A. D. 1932 before me personally appeared Katherine I. Watson and George A. Watson 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 MITCHELL Notary Public. Received for record August 17th, A. D. 1932 at 9:35 o'clock A. M. and recorded by [Signature] Town Clerk.