The instrument's own words
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688
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, or if breach
shall be made of any term, covenant or condition of said note or of this mortgage, then 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, exe-
cutors, administrators and assigns therein, at public auction, and to bid for and become the pur-
chaser of any such sale, and no other purchaser 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 having a circulation in said Town of
Charlestown, with or adjournment of such sale from time to time; provided that if such adjourn-
ment be for one week or more the publication of such notice shall be continued, together with
notice of any adjournment or adjournments, at least once each week in the same newspaper; such sale
to be upon the premises or elsewhere as specified in such notice; and in its or their own name
or names, or by the attorney or attorneys of the said mortgagors (for that purpose by these present
duly authorized and appointed with full power of substitution and revocation), at make, execute
and deliver to the purchaser or purchasers at such sale or sales a good and sufficient deed or
deeds, in fee simple, of the premises sold; and to receive the purchase money and therefrom to
retain all sums hereby secured or required to be paid, 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, and all counsel fees and other expenses incurred
or in any way connected with the exercise of these powers or with any proceeding or action con-
cerning the enforcement thereof, or of these notes, or of this note, and of these premises, all taxes, assess-
ments, insurance premiums and expenses of repairs, either theretofore paid by the said Industrial
Trust Company, its successors or assigns, or then remaining unpaid, rendering and repaying the
surplus of said purchase money, if any there be, over and above the amount 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
shall forever be a perpetual bar both in law and in equity against the said mortgagors, their heirs,
executors, administrators, and assigns, and all persons claiming said premises sold by reason, from or
under them or any of them.
And the said mortgagors, for themselves and for their heirs, executors, administrators,
and assigns, hereby covenant with the said Industrial Trust Company, its successors and assigns,
that they will upon request execute such deed or deeds confirmatory of such sale or sales as may
be necessary or requested.
AND FURTHERMORE, the said mortgagors, for themselves and for their heirs, executors,
administrators, and assigns, and for the consideration aforesaid and to further increase the security
of this mortgage, do hereby covenant and agree to and with the said mortgagee, its successors and
assigns, and as follows:
1. To pay said promissory note and all sums of principal and interest due thereon,
in accordance with the tenor thereof, and all taxes and assessments of every nature
levied, assessed or to be levied, assessed or charged, and all discharges of any note or notes from
said premises or upon the mortgagors, its successors or assigns, in respect to this
mortgage or mortgage indebtedness, whether under any present or future law, all pre-
miums for insurance against loss by fire and other hazards and all other taxes and other expenses
hereby secured as herein provided.
2. To keep and maintain insurance against loss by fire and by such other hazards as
customarily insured in said premises, for such periods, in such form and
causalities and contingencies as the mortgagee or the holder of the mortgage may at
any time require, or as may be reasonably customary, and to promptly pay the sums due in
premiums on such insurance; to make all policies of insurance payable in case of loss to
the mortgagee or assigns, or as may be reasonably required by the police of the
mortgagee; and said Industrial Trust Company or other the holder of this mortgage
for the time being shall be authorized and empowered, in the event of default, without
attorney irrevocable of the mortgagors to demand, adjust, sue for, compromise and
collect and compel all and any such insurance and to obtain such insurance and to execute
releases for any and all sums received in settlement of such losses, and to apply
the same, after deducting any expenses incurred in connection therewith, upon the
indebtedness hereby secured, or not then paid due, or in reimbursement for any
taxes, assessments, insurance premiums or other sums paid by the mortgagors, or to the
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689
the cost of replacing or repairing the damaged buildings or improvements.
In the event of foreclosure under this mortgage or other transfer of the
title to the mortgaged premises in satisfaction of the indebtedness, or
any part thereof incurred under this mortgage, title and interest in said
mortgagor in and to any insurance policies, or any return or refund of
premium or dividend on insurance policies due to the mortgagors, and the
mortgagee may surrender said policies and collect any sums due thereon,
or may, at its option, transfer its right, title, and interest in said police-
y, or any part of it, or the mortgagors, if the mortgagors abandon any
property, that provided that any sums received on said policies by way of refunds, dividends,
or otherwise, shall be applied to the payment of losses sustained hereby, and
any surplus paid over as a surplus on foreclosure. If the mortgagors
fail to provide such insurance or fail to pay the premiums thereon, the
may effect such insurance or pay the premiums thereon, and all premiums so
paid shall become a sum principal added to the sum secured hereby, and shall bear
interest at the rate provided upon the principal indebtedness until payment,
"thereof."
3. To keep and maintain the exterior and interior of the buildings and improvements
on the premises described in this mortgage at all times until full payment and
discharge hereof in good and substantial repair and in the same form as hereafter
be put in, and to permit said Industrial Trust Company, its successors and
assigns, or its agents, or any other person acting as its servant, to enter upon the
mortgaged premises at all reasonable times to view and inspect the same.
4. That the mortgagee, its successors and assigns, may pay all taxes, assessments,
water rates or insurance premiums due in part or in full that rapid that the
unpaid principal of the indebtedness hereby secured and shall bear interest
at the same rate as the principal indebtedness together with any accrued interest
shall be a further lien upon the premises and secured by these presents.
5. That if the mortgagors be declared bankrupt or insolvent or make an assignment
for the benefit of any creditors, or if a receiver be appointed or any part of
said premises be in the custody or control of a receiver or trustee or any
of said rents, way the mortgagee or the mortgagors abandon any of said premises, then and
upon the happening of any of these events, the mortgagee may declare the whole
without notice and without affecting the Lien hereby created or the priority
of said lien, or any other lien, 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
8th day of April, A. D. one thousand nine hundred forty-eight.
Signed, sealed and delivered
in presence of
HILMAN KENDALL as to both
HAROLD B. SOLOVEYTZIK
CHARLES A. HOLMES
RUTH A. HOLMES
STATE OF RHODE ISLAND,)
} SC.
County of Washington {
In Westerly, on the 8th day of April, A. D. 1948, before me personally appeared the
above named Charles A. Holmes and Ruth A. Holmes, 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.
HAROLD B. SOLOVEYTZIK
Notary Public.
Received for record April 8th, A. D. 1948 at 3:35 o'clock, p. m., and recorded by
[?] Town Clerk
----
Industrial National Bank of Rhode Island, having received full payment and satisfaction of the
mortgage, does herebycancel and discharge the same.
IN TESTIMONY WHEREOF, said Company has caused these Presents to be signed and its Corporate Seal to be
hereto affixed by its proper Officer duly authorized, this 17th day of May A. D. 1971
Signed and sealed
in presence of
Witness:
ALMA M. RHODES
INDUSTRIAL NATIONAL BANK OF RHODE ISLAND
By: LILLIAN C. RAN
Lillian C. Ran
Manager
Received for record May 18th A. D. 1971 at 2:00 o'clock, p.m., and recorded by
[?] Town Clerk
The page as recorded
