§ 34-11-21 - Statutory mortgage condition. - Rhode Island Statutes

SECTION 34-11-21

   § 34-11-21  Statutory mortgage condition.– The following condition shall be known as the "statutory condition", and may beincorporated in any mortgage by reference:

   (Condition)

   Provided, nevertheless, and this conveyance is made upon theexpress condition, that if the mortgagor or his or her heirs, executors,administrators or assigns shall pay to the mortgagee or his or her heirs,executors, administrators, or assigns the principal and interest of thatcertain promissory note bearing even date with this deed and secured by thisdeed, and shall perform every other obligation secured by this deed, at thetime provided in the promissory note or in this deed, and shall also pay alltaxes and assessments of every kind levied or assessed upon or in respect ofthe mortgaged premises, then this deed, as also the promissory note, shallbecome and be absolutely void to all intents and purposes whatsoever.