2/13/1934 · MORTGAGE · book 25 page 425 doc 9319

425 KNOW ALL MEN BY THESE PRESENTS, that I, JOSEPH PEPE, of the Town of Charles- town, in the County of Washington and State of Rhode Island, being unmarried, hereinafter called the mortgagor, in consideration of Five Thousand ($5000.00) Dollars to me paid by LOUIS A. PEPE, of said Town of Charlestown, Rhode Island, hereinafter called the mortgagee, the receipt whereof is hereby acknowledged, do hereby give, grant, bargain, sell and con- veyor unto the said mortgagee, and his heirs and assigns forever, One parcel or lot of parcel of land, with the buildings and other improvements thereon, located in the Town of Charlestown, County and State aforesaid, bounded and described as follows: - Beginning at the south westerly corner of said lot, running northerly twenty three chains and thirty three [33] feet then easterly in a course six hundred ten (610) feet thence in a course six hundred fifty [650] feet to the point thence northerly about six hundred ninety [690] feet to the point and place of beginning; said lot being bounded northerly by the Highway, westerly by land now or formerly of Walter R. Gressen, easterly land now or formerly of John Doherty, and easterly be bounded the State High- way; or however otherwise said lot may be bounded and described also, another tract of land, with all the improvements thereon, situated in said Town of Charlestown, known as the Tossett Lands and, bounded on the north by land now or formerly of John Doherty, easterly by the highway; southerly by land formerly of James H. Matson, although now or formerly of David B. Ward; and westerly by land now or formerly of the heirs of Peleg Tucker, or however otherwise bounded. The two tracts above described being the same and and all the same premises conveyed to Joseph Pepe and his wife Dolores by deed dated May 4, 1931 recorded in Book 15 Page 419 of the Land Evidence Record of said Town of Charlestown; said Joseph Pepe having subsequently dated December 1, 1933, obtained one half interest thriving of said Nicola Deceased, as appears of record. 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 his heirs 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 his heirs and assigns that I am law- fully seized in fee simple of the said granted premises; that the same are free from all incumbrances except a prior mortgage to said Louis A. Pepe for $2000., by deed dated May 4, 1933 and recorded in Book 15 and Page 25 of said Charlestown Land Evidence Record; that I have good right, full power and lawful authority to sell and convey the same in the manner as aforesaid; that the said mortgagee and his 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 his heirs and assigns forever against the lawful claims and demands of all persons. PROVIDED, NEVERTHELESS, and this conveyance is made upon the express condition, that if the said mortgagor or his heirs, executors, administrators or assigns, shall pay unto the said mortgagee or his executors, administrators or assigns, the sum of Five- Thousand ($5000.00) dollars, wherever the said mortgagor has made his negotiable promissory note for said aggregate sum, bearing even date with these presents, and made payable to the order of said Louis A. Pepe, in the following manner: by principal payments of One Hundred ($100.00) Dollars each three every (3) months commencing July 1, 1934; and the en- tire unpaid balance to be paid on or before May 4, 1938; with interest on the unpaid bal- ances at the rate of five (5%) per centum, per annum, payable semi-annually, in advance, until the full amount of said principal be paid, whether at or after maturity, and all in- stallments of interest in arrears, 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 pron- issory note, shall become and be absolutely void to all intents and purposes whatsoever.

426 BUT IF DEFAULT shall be made in the payment of the said installments of principal or of said interest, at the time or times and in the manner aforesaid, or of the taxes or assessments aforesaid, as the same shall become payable, or, of any or either of them, or of any part thereof, or if breach shall be made of the covenant for insur- ance hereinafter contained, then it shall be lawful for the said mortgagee, his executors, administrators, or assigns, to sell, together, or in parcels, all and singular, the prem- ises hereby granted or intended to be granted, or any part or parts thereof, and the benefit and equity of redemption of the said Joseph Pepe and his heirs, executors, ad- ministrators 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 pur- chasers 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 County of Washington, Rhode Island, 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 adjourn- ments, at least once each week in the same newspaper; and in his or their own name or names, or as the attorney or attorneys of the said Joseph Pepe (for that purpose by these presents duly authorized and appointed with full power of substitution and revo- cation), to make execute and deliver to the purchaser or purchasers at such sale a good and sufficient deed or deeds of sale admitted in fee simple and to receive the proceeds of such sale or sales, and from such proceeds to retain all sums hereby secured, whether then due or that will 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, or for making deeds hereunder, 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 theretofore paid by the said mortgagee, his executors, administrators 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, and expenses and charges, to the said Joseph Pepe, his heirs, executors, administrators or assigns, which sale or sales made as aforesaid shall forever be a per- petual bar both in law and equity against the said Joseph Pepe, and his heirs, executors, administrators and assigns, and all persons claiming said premises, so sold, by from, or under them, or any of them. AND I the said mortgagor, for myself and for my heirs, executors, administra- tors and assigns, hereby covenant with the said mortgagee, and his heirs, executors, administrators and assigns, that I and they will upon request execute such deed or deeds confirmatory of said sale or sales as may be required. AND FURTHERMORE, I the said mortgagor, for myself and for my heirs, executors, administrators and assigns, hereby covenant with the said mortgagee, and his executors, administrators and assigns, that insurance against loss by fire shall be kept and main- tained on the buildings on the premises aforesaid, in such office or offices as the said mortgagee, and his executors, administrators or assign, shall approve, in a sum not less that Seven Thousand ($7000.) dollars, and that the policy or policies of such insurance shall be assigned and transferred, or made payable in case of loss, to the said mortgagee, or his executors, administrators or assigns as collateral security hereto, and in default thereof, hereby agree that the said mortgagee, or his executors, administrators or assigns, may effect such insurance in the name of the said mortgagor, and his heirs, and assigns,

427 payable in case of loss to the said mortgagees, and his executors, administrators 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 I have hereunto set my hand and seal this 13 day of February, in the year of our Lord one thousand nine hundred and thirty four. executed in presence of LOUIS V. JACKSONY JOSEPH PEPE (SEAL) STATE OF RHODE ISLAND, Etc. ) County of Providence ) In Providence on the 13th day of February, A. D. 1934 before me personally appeared JOSEPH PEPE to me known and known by me to be the party executing the foregoing instrument, and he acknowledged said instrument, by him executed, to be his free act and deed. LOUIS V. JACKSONY Notary Public. Received for record February 13th, A. D. 1934 at 4:25 o'clock, p. m., and recorded by [Signature] Town Clerk. Louis A. Pepe the undersigned, having received full payment and satisfaction of the within mortgage recorded in the records of land evidence of the town of Providence in the State of Rhode Island in Seal Book Volume 15 Page 425-426-427, hereby cancel and discharge the same. And I covenant to and with the person making said payment, that I am the present owner of said mortgage. IN WITNESS WHEREOF I have hereunto set my hand and seal this 13th day of November A. D. 1942. In Presence of Angela J. Pepe LOUIS A. PEPE Above discharge received for record January 6th, A. D. 1947 at 10 o'clock, a.m., and recorded by [Signature] Town Clerk