§ 34-11-22 - Statutory power of sale in mortgage.
SECTION 34-11-22
§ 34-11-22 Statutory power of sale inmortgage. – The following power shall be known as the "statutory power of sale" and may beincorporated in any mortgage by reference:
(Power)
But if default shall be made in the performance or observanceof any of the foregoing or other conditions, or if breach shall be made of thecovenant for insurance contained in this deed, then it shall be lawful for themortgagee or his, her or its executors, administrators, successors or assignsto sell, together or in parcels, all and singular the premises hereby grantedor intended to be granted, or any part or parts thereof, and the benefit andequity of redemption of the mortgagor and his, her or its heirs, executors,administrators, successors and assigns therein, at public auction upon thepremises, or at such other place, if any, as may be designated for that purposein this deed, or in the published notice of sale first by mailing writtennotice of the time and place of sale by certified mail, return receiptrequested, to the mortgagor, at his or her or its last known address, at leasttwenty (20) days for mortgagors other than individual consumer mortgagors, andat least thirty (30) days for individual consumer mortgagors, prior to firstpublishing the notice, including the day of the mailing in the computation;second, by publishing the same at least once each week for three (3) successiveweeks in a public newspaper published daily in the city in which the mortgagedpremises are situated; and if there be no public newspaper published daily inthe city in which the mortgaged premises are situated, or if the mortgagedpremises are not situated in a city, then (1) if the mortgaged premises aresituated in the city of Central Falls, in a public newspaper published daily inthe city of Pawtucket; (2) if the mortgaged premises are situated in the townof North Providence, in a public newspaper published daily in either the cityof Providence or the city of Pawtucket; (3) if the mortgaged premises aresituated in any of the towns of Cumberland, Lincoln, Smithfield or NorthSmithfield, in a public newspaper published daily in either the city ofPawtucket or Woonsocket; (4) if the mortgaged premises are situated in thecounty of Providence elsewhere than in the above-named cities and towns, in apublic newspaper published daily in the city of Providence; (5) if themortgaged premises are situated in the county of Newport, in a public newspaperpublished daily in the city of Newport; but if there be no such publicnewspaper so published, then in some public newspaper published anywhere in thecounty of Newport; (6) if the mortgaged premises are situated in any of thecounties of Bristol, Kent or Washington, in a public newspaper published dailyin the city or town in which the mortgaged premises are situated; but if therebe no public newspaper so published, in some public newspaper published dailyin the county in which the mortgaged premises are situated or in a publicnewspaper published daily in the city of Providence; provided however if themortgaged premises are situated in the town of New Shoreham then in addition topublication in a public newspaper published daily as required above, it shallalso be published in a public newspaper published in the town of New Shoreham,and, in the event there is no public newspaper published in the town of NewShoreham, then in a public newspaper distributed in the town of New Shoreham;with power to adjourn such sale from time to time, provided that publishing ofthe notice shall be continued, together with a notice of the adjournment oradjournments, at least once each week in that newspaper; and in his, her or itsor their own name or names, or as the attorney or attorneys of the mortgagor,for that purpose by these presents duly authorized and appointed with fullpower of substitution and revocation to make, execute and deliver to thepurchaser or purchasers at that sale a good and sufficient deed or deeds of themortgaged premises in fee simple, and to receive the proceeds of such sale orsales, and from such proceeds to retain all sums hereby secured whether thendue or to fall due thereafter, or the part thereof then remaining unpaid, andalso the interest then due on the proceeds, together with all expenses incidentto the sale or sales, or for making deeds hereunder, and for fees of counseland attorneys, and all costs or expenses incurred in the exercise of suchpowers, and all taxes, assessments, and premiums for insurance, if any, eithertheretofore paid by the mortgagee or his or her executors, administrators orassigns, or then remaining unpaid, upon the mortgaged premises, rendering andpaying the surplus of the proceeds of sale, if any there be, over and above theamounts so to be retained as aforesaid, together with a true and particularaccount of the sale or sales, expenses and charges, to the mortgagor, or his,her or its heirs, executors, administrators, successors or assigns; which saleor sales made as aforesaid shall forever be a perpetual bar against themortgagor and his, her or its heirs, executors, administrators, successors andassigns, and all persons claiming the premises, so sold, by, through or underhim or her, them or any of them.