The instrument's own words
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KNOW ALL MEN BY THESE PRESENTS: That we, George G. Hathaway and Marie D. Hathaway, husband and wife, of the Town of Charlestown, County of Washington, State of Rhode Island, (hereinafter called the mortgagors) in consideration of Ten Thousand ($10,000.00) Dollars, to be paid by INDUSTRIAL TRUST COMPANY, a corporation created by the General Assembly of the State of Rhode Island, located and transacting business in the City and County of Providence, in said State, the receipt whereof is acknowledged, do hereby grant, bargain, sell and convey unto said INDUSTRIAL TRUST COMPANY, its successors and assigns, forever:
(Description of property)
Those certain parcels or tracts of lands with the buildings and improvements thereon, situated in the Town of Charlestown, County of Washington and State of Rhode Island, and bounded and described as follows:
FIRST TRACT: Containing by estimation eight (8) acres, more or less, and bounded as follows: BEGINNING at the southwest corner of a stone wall at the southwest corner of a lot of land now or formerly of Charles Burdick on the Burdickville Road, so called, thence extending northerly bounded west by a stone wall and then by a hedge three hundred (300) feet to a nail; thence westerly following said stone wall one hundred ninety three (193) feet to a corner; thence northerly bounded westerly by other part of land hereinbelow described; thence northerly still following said wall one hundred twenty wall [?] feet to a corner; thence east of the said parcel of land hereinbelow describe; thence northerly following said last mentioned wall to the end thereof and thence northerly eighty (80) feet to the road now or formerly of Junction Road, bounded easterly by northerly land hereinbelow described thence southerly, bounded west by the Road now or formerly of Junction Road about four hundred fifty (450) feet to a corner of said lot at the Burdickville Road; thence westerly bounded southerly by said Burdickville Road to the place of beginning.
SECOND TRACT: Containing by estimation eighty (80) acres, more or less, and bounded as follows: On the north by the lands now or formerly of George G. Hathaway on the northeast by a stone wall on the south by land hereinabove described, and on the west by land now or formerly of Charles Burdick, it being the farm known as the "Old Paddy Farm"; EXCEPTING, however, to the heirs of John S. Hiscox, the burying ground on said farm.
Being the same premises which were conveyed to these mortgagors by deed of George H. Burdick, dated June 1, 1934 and recorded in Book 28, page 450 of the Land Evidence Records of said Town of Charlestown.
TO HAVE AND TO HOLD the aforementioned premises, with their appurtenances, unto and to the use of said Industrial Trust Company, its successors and assigns forever.
And to the said mortgagors do hereby, for themselves and for their heirs, executors, administrators, and assigns, covenant with said Industrial Trust Company, its successors and assigns, that they are lawfully seized in fee simple of the said granted premises; that the same are free from all encumbrances; that they have good right, full power and lawful 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 mortgagors will, and their heirs, executors, administrators, and assigns shall, warrant and defend the same to said Industrial Trust Company, its successors and assigns forever, against the lawful claims and demands of all persons
And for the consideration aforesaid, we, George G. Hathaway and Marie D. Hathaway, husband and wife, do hereby release all of our right of curtesy and dower, respectively, and all other rights, statutory or otherwise, in and to the said granted premises unto said Industrial Trust Company, its successors or assigns, forever.
PROVIDED, NEVERTHELESS, that if the said mortgagors, or their heirs, executors, administrators, or assigns, shall pay unto said Industrial Trust Company, its successors or assigns, the principal and interest of a certain promissory note of the mortgagors of even date herewith, and bearing the serial number hereof, in accordance with the terms and conditions thereof, and shall also pay all taxes, assessments, insurance premiums and other sums, the payment of which are hereby required or secured, as and when the same become due and payable, and shall perform all other covenants and conditions as provided herein or in the note above mentioned, then this deed, as also said promissory note, shall become and be absolutely void to all intents and purposes whatsoever.
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and to apply the same, after deducting any expenses incurred in connection therewith, first upon the indebtedness hereby secured, whether or not then due, or in reimbursement for any taxes, assessments, insurance premiums or other sums paid by the mortgagee, or to the cost of replacing or repairing the damaged building or other improvements, or in event of foreclosure under this mortgage or other transfer of the title to the mortgaged premises in satisfaction of said indebtedness, and the balance, if any, to the mortgagor or his heirs, and title and interest of the mortgagor in and to any insurance policies, or to any other refund return or reimbursement that may accrue to the mortgagor. Under this mortgage, and the mortgagee may surrender said policies and surrender costs and all said policies and the proceeds thereof to any one or more of the mortgagees of the property, and that may become entitled to said policies by way of refunds, dividends, or otherwise, shall be applied as a surplus on a surplus on foreclosure. If the mortgagors fail to provide such insurance or pay the premiums thereon, the mortgagee shall be entitled to provide such insurance or pay the premiums thereon, and shall bear interest at the rate provided upon the principal indebtedness until payment thereof.
10 To keep and maintain the interior and exterior of the buildings and improvements on the premises hereof in good and substantial repair and condition until the same are paid and discharge hereof in as good condition and repair as the same now are or may hereafter be put in the point of view of the Industrial Trust Company, its successors and assigns, and its officers, their agents, and servants, authorized, to enter upon the premises at all reasonable times to view and inspect the same.
4 That the mortgagors, its successors and assigns, shall pay all taxes, assessments, water rates or insurance premiums not paid by the mortgagors by when due, and all such sums shall be borne as principal and repaid until repaid and shall be added to the unpaid principal of the indebtedness and shall bear interest at the same rate as said indebtedness until paid and together with such interest shall be a further lien upon the premises hereby mortgaged by these presents.
5 That if the mortgagors be declared bankrupt or insolvent or make an assignment for the benefit of any creditor or be placed under control or in custody of any court, or if any receiver be appointed for said property, then on any day of such event the mortgagee is hereby authorized and empowered at its option, with or without notice and without recourse to any court, to declare the notes now listed or the principal lien or any right of the mortgagee hereunder to declare all sums secured hereby immediately due and payable.
IN WITNESS WHEREOF, the said mortgagors have hereunto set their hands and seals this
18th day of February, A. D. one thousand nine hundred forty-eight.
Signed, sealed and delivered }
in presence of } GEORGE G. MATHAWAY
Thomas Sutcliffe } MARIE D. MATHAWAY
Hiram Kendall }
STATE of RHODE ISLAND,)
County of Washington } sc.
In Westerly, on the 18th day of February, A. D. 1948, before me personally appeared the above named George G. Mathaway and Marie D. Mathaway, husband and wife, each and all to me known and by me known to be the parties executing the foregoing instrument, and severally acknowledged said instrument, by them, executed to be their free act and deed.
HERBERT E. COOKE
Notary Public.
Received for record February 19th, A. D. 1948 at 9:00 o'clock, a. m., and recorded by
[Signature] Town Clerk
Industrial Trust Company, having received full payment and satisfaction of the within mortgage, does hereby cancel and discharge the same.
IN TESTIMONY WHEREOF, said Company has caused these Presents to be signed and its Corporate Seal to be hereunto affixed to its Manager and Assistant Manager duly authorized, this 9th day of May A. D. 1952.
Signed and sealed } INDUSTRIAL TRUST COMPANY (Corporate Seal)
in presence of } By Hiram Kendall
James J. Morrison } Manager
Thomas Sutcliffe
Asst. Manager
Received for record May 10th, A. D. 1952 at 9:20 o'clock, a. m., and recorded by
[Signature] Town Clerk
The page as recorded
