The instrument's own words
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679
KNOW ALL MEN BY THESE PRESENTS: That We, Clarence Terpening and Rose T. Terpening, husband and wife, of the Town of Charlestown, County of Washington and State of Rhode Island, (hereinafter called the mortgagors) in consideration of Four Thousand Three Hundred ($4,300.00) Dollars to us 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 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)
A certain tract or piece of land lying and being in the Town of Charlestown, County of Washington and State of Rhode Island, bounded and described as follows, to wit:
Northerly by Pogueant Brook, S.cc called; easterly by a highway, south-easterly by land of now or formerly W. Niccolo Saccaro; westerly and westerly by land now or formerly of Elisha S. Peckham (known as the James Johnson place); excepting however, three feet along the easterly line which was conveyed, and the same is recorded, said tract by the following conveyances: (1) to Jacob Jabson, November 9, 1924, recorded in Book 24, page 110; (2) to William Randall, November 21, 1927, recorded in Book 25, pages 470 and 471 and 478; (3) to Cega and Sigiema Salzman, August 15, 1939, recorded in Book 28, page 114; (4) to the State of Rhode Island, August 15, 1939, recorded in Book 28, page 386. Conveyance is made subject to easements and rights of way of record.
Being the same premises which were conveyed to these mortgagors by deed of Charles H. Kelley and Loretta G. Kelley, dated September 1947, and recorded in Book 30, page 139, 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 the said mortgagors do hereby, for themselves and for their heirs, executors, administrators, 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 they have good right, full power and lawful authority to sell and convey the same in the 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 therein, warrant and defend the same to said Industrial Trust Company, its successors and assigns, forever, against the lawful claims and demands of all persons, except as aforesaid
And for the consideration aforesaid, we, Clarence Terpening and Rose T. Terpening, husband and wife, do hereby release all our of 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 and assigns, forever.
PROVIDED, NEVERTHELESS, that if the said mortgagors, or their heirs, executors, administrators, trustees 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, and 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 be and become absolutely void to all intents and purposes whatsoever.
BUT IF DEFAULT shall be made in the payment of said sums of or said interest of or the taxes, assessments, insurance premiums or any other sum of money the payment of which is hereby or by said note required or secured, or of any part thereof, at the time or times when due, it shall be lawful for said Industrial Trust Company, 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 mortgagors 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
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indebtedness without payment thereof.
3. To keep and maintain the exterior and interior of the buildings and improvements described in the mortgage all times until full payment and discharge hereof in as good condition as permit Repair as the same now are or may hereafter be put in, and to permit Said Industrial Trust Company, its successors and assigns, and its agents and their agents and servants, to enter upon the said mortgaged premises at all reasonable times to view and inspect the same.
4. That the mortgagors, its successors and assigns, may pay all taxes assessments, water rates or insurance premiums charged against the said mortgage and all of such sums shall be immediately repaid and until repaid shall be added to the unpaid principal of the mortgage and shall bear interest and shall bear interest at the same rate paid as said indebtedness until paid and together with such interest shall be further a lien upon the premises and securities and by these presents.
5. That if any of the mortgagors be declared bankrupt or insolvent or make an assignment for the benefit of any creditors or be placed under the control or in custody of any court, or if the mortgagors abandon any of said property, then in any of said events the mortgagee may declare the whole sum secured at its option without notice and without affecting the lien hereby created or the priority of said lien or any other lien, and may 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 18 day of March, A. D. one thousand nine hundred forty-eight.
Signed, sealed and delivered ) CLARENCE TERPENING
in presence of ) ROSE T. TERPENING
Thomas Sutcliffe
Herbert E. Cooke
STATE OF RHODE ISLAND,)
} SC.
County of Washington }
In Westerly, on the 18 day of March, A. D. 1948, before me personally appeared the above named Clarence Terpening and Rose T. Terpening, husband and wife, each and all to me known and 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.
HERBERT E. COOKE (Notarial Seal)
Notary Public
Received for record March 20th, A. D. 1948 at 9:05 o'clock, a. m., and recorded by [Signature]
Town Clerk
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INDUSTRIAL NATIONAL BANK OF PROVIDENCE, 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 by its Assistant Managers duly authorized, this 12th day of April A. D. 1956
Signed and sealed in presence of INDUSTRIAL NATIONAL BANK OF PROVIDENCE
Doris B. Davis (Corporate Seal)
By Thomas Sutcliffe
Asst. Manager
Fred Rayner
Asst. Manager
Received for record April 14th, A. D. 1956 at 1:50 o'clock, p.m., and recorded by [Signature]
Town Clerk
The page as recorded
