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HomeMy WebLinkAbout2025 potiq w poliNos said MORTG/1GEE sh~ll h~ve ths option to roaiw and appy tne ssms on aocax~t of the indebtedness securod herebv c? permit said MORTC~?GORS to roteive and use it or any part thereof for other purposes withouf theraby waivin~ a impai~i~~ amr aVuity, lien w ~i~ht under o? by virtus of this Mortgs~e; and in tM wa~t said MORTG/1CARS shall fa any reason fail to keep ths s~id premises so inwred, or fsil to ckliver promptly sny of s~id policies of inwnnc~ to said MORTWGEE, o? fail promptly to pay fully u~y premiurt? therefa. or in any respett hil ro perform, discharge, execute. effett, oomplero. corr+plr with snd sbide by this oovenant, or sny psrt hereof, said MORT- GAGEE rt?ay place and pay for stxh inwnnce or any puf thereof without waiving ot affettint any option, lien, equity, or right tud~r or by virtue of this MortQage. and the (ull amount of each and evtry such payment shall be immedistely due and payable snd shall bear i~~;erest from the date thereof until paid at the rate of six a~d7~}(tenths per cent pe? an~um and together vrith such interest sF~ll be secu?ed by ti+e I~en of this mortgage. ning 4. To permit~ tommit w wffe? no waste, impairment or deterioration of said property w any part thereof. 5. It is hereby specifiplly ag~eed that any wm or wms which may be loaned o~ advanced by the Mortgagee to the MortgaQor at any rime after the recording of this indenture, togethe~ with interest thereon at the rate ag~eed upon at the time of such ban or advance, shall .,e equally secured with and hsve the same prioriry as the original indebtedness, and be subject M all the temu and provisions of this mortgage: Provided, that the aggregate amount of principal outstanding at any time shall not exceed a~ artiount equal to one hund~ed and fifty per cent (150~) of the principal amount wiginaily secured hereby. ~ 6. To pay all and singular the costs, charges and expenses. inciuding a reaso~able attorney's fee and costs of abstract of title in- ~ curred or paid at any time by uid MORTC/1GEE because or in the evont of the failure on the part of the said MORTGAGOR M duly, promptiy and fully perform, dixharge, execute, effect, complete, comply with and abide by each and every the stipulations, agreements, conditions » and covenanh of said promissory note and this mwtgage any or either, and said costs, charges and expenses, each and every, ~hall be immediately due and payable; whether w not there bc ~otice, demand, attempt to collect o~ ~ng; and the full amount of each and every suth payment sFwll bear interest from the date thereof until paid at the rate of six an~~c~ per centum per snnum; and all said costs, charges and expenses so incurred or paid, together with such interest, shal! be secured by the lien of this mortQage. ` 7. That (a) in the event of any breach of this Mortgage or default on the part of the MORTGAGOR. or (b) In tM event any of said ~ sums of money herein referred to be not promptly and fully paid within thirty (30) days next after the same severally betane due and payable, K-ithout demand or notice, or (c) in the event each and every the stipulatiorts, a~geements. conditions and wvenants of said promissory ~ote and this mortgage any or either are not duly. promptly and fully performed, diuharged, executed, effected, completed tomplied with and ~ abided by, then in either or a~y suth event, the said aggregate wrr? mentia~ed in said promissory note then ?emaining unpaid. with interest accrued, and all moneys secured hereby, shall become due and payable forthwith, or thereafter, at the optio~ of said MORTGAGEE, as fully and canpletely as if all of the said wms of money were aiginally stipulated to be paid on suth day, anything in said promissory note or in ~ rhis Mortgage to the contrary not withstanding; and thereupon o? thereafte? at the option of said MORTGAGEE, without notice or demand, suit at law or in equiry, may be prosecuted as if all monies sttured hereby had matured prior to its institution. 8. That in the event that at the beginning of or at ar?y time pending any suit upon this Mortgage. or to foretlose it, or to reform ~ it, or to enforce payment of any claims hereunder. said MORTGAGEE shall apply to the Court having jurisdittion thereof for the appoi~tment of a Receiver, such Court shall forthwith appoint a Receiver, of said mortgaged property all a~d singular. including all and singular the ,t income, profits, issues and revenues from whatever source derived, each and every of which. it being eupressly undentood. is hereby mwt- gaged as if specifically set forth and deuribed in the granting and habendum clauses hereof, and wch Receiver shall have all the broad and effective furxtions and powers in anywise entrusted by a Court to a Receiver, and such appointme~t shall be rrwde by such Court as an admitted equiry and a matter of absolute right to said MORTGAGEE, and without reference to the adequacy or inadequacy of tF+e ~~!!~e of the property mortgaged or to the solventy or insolvency of said MORTGAGOR or the defendants, and that wch rents, profits, intomes, issuea ~t and revenues shall be applied by such Reteiver atcording w the lien or equiry of said MORTGAGEE and the prattice of wth Court. t 9. To duly, promptly and fully perform, discharge, execute, effect. complete comply with and abide by each and every the stipu- ~ , lations, agreemenis, conditions and covenants in said promissory note and in this mortgage set forth. 10. That in the event the ownership of the mortgaged premises, cr any part thereof, becomes vested in a person other than the ~ , MORTGACOR, the MORTGAGEE, its wccessors and assigns, may, without notice to the MORTGAGOR, deal with such successor or successors n interest with reference to this mortgage and the debt hereby secured in the same manner as with Mortgagor without in any way vitiati~g distharging the Mortgagor's liability hereunder or upon the debt hereby secured. No sale of the premises hereby mortgaged and no fore- / ~earance on the part of the MORTGAGEE or its successors or auigns and no extension of the time for the payment of the debt hereby secured given by the MORTGAGEE or its successors or auigns, shall operate to release. discharge, modify. change or effett the original liability of f the MORTGAGOR herein, either in whole o? in part. ~ 11. It is spetifically agreed that time is of the essente of this contract and that no waiver or any obligation hereunder w of the 3 obligation secured hereby shall at any time thereafter be held to be s waiver of the temu hereof or of the instrument setured hereby. } IN WITNESS WHEREOF, the said MORTGAGOR has hereunto set his hand and seal the day and year first aforesaid Signed~ Sealed and deliverod i?~ presence of: ~ ; - i . q { ~ / t 22~~ ~ ` ~~e;!~"" _ ' ' _ " _ (SEAU ~ ~ ~ - - - - (SE/RU ~ STATE OF RI ~ ~ ~ SS. ~ COUNTY OF - - LCi. : ..,v. , . , e~~?~ ~ a~«,~ay .~r.a ----SHEFFIEL~ _,A~BQ9~L----- ~ , ~ ~ ~ - - ~ his wife, to me well known, and known to me to be the_3ndividuals desc ~ i~' , ---~H~~E..-_~~~- and who exewted the foreQoing instrummt. and acknowledQed before me that tF~ey executed the same for the purpaaes therein - - - - ° _ WITNESS my'hsnd and official seal this------- -`J t ---dsY °f----- Feb L~$ ~ " ~ - ~ - . ~ d lA_~2~ . _ - ~ . sG l~ yLt.~~ t C~ ,d''7' ~ . . - - - TFb~ - - ~O Nota Public in a for J~ df'st!~ e. ~ p~~~+, sG~C ~ My oryommiuion res: ~d~~'~• STA E1+QR~~Mt~LARGE ' ' j cr tij.~ IIY CO~,:r~cSSior~ E::n!Q~S r,oY_ 29, 1468 ~ (Notary Seal) ~~~~~AO rOC iQ ~ONOED TMROUGN f7Ep w. y,l~tfLMORST ~ '~j,.~y~.o~'~'t~ ` FILEO AND RECURDED a ~ A ~ - Fq ST. 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