§ 34-11-19 - Contents and effect of short-form mortgage deed. - Rhode Island Statutes

SECTION 34-11-19

   § 34-11-19  Contents and effect ofshort-form mortgage deed. – A deed substantially following the form entitled "Mortgage Deed" shall, whenduly executed, have the force and effect of a mortgage deed to the mortgageeand his or her heirs and assigns, to his or her and their own use, withmortgage covenants and upon the statutory condition and with the statutorypower of sale, as defined in §§ 34-11-20 – 34-11-22 inclusive,to secure the payment of the money and the performance of any obligation orobligations therein specified or referred to; provided, however, that any otherlawful covenant, agreement, condition or power may be inserted or incorporatedby reference in such mortgage deed and any of the terms and provisions of themortgage covenants, statutory condition and statutory power of sale may bechanged, amended, deleted or supplemented by any lawful agreement, covenant,condition or power specified or incorporated by reference in such mortgage deed.