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HomeMy WebLinkAbout0683 - 6 - principal and intereet to be paid each month on account of the Note, ehall be added together, and tbe aggregate amount thereoY ehall be paid by the Mortgagor to the Mortgagee in a single payment to be Qpplied by the Mortgagee on account oY the indebtedneee ot the Mortgagor pureuant to the Note and thie Mortgage (to the extent tbat moniee are available ~rom tbe amount so depoeited), in the r ~ order, any provieion of the Note to the contrar3r notwithetanding, ae followe: firet, to the amount of such ground rente, if any, ~ire ~ and other hazard ineurance premiume, taaee, asseaemente, water ratee and other governmental chargee required to be paid under the provieione of thie Mortgage, in whatever eequence the Mortgagee may eaclueively determine; , eecond, to intereet due on t~ie Note; ~ - third, to the principal due on the-Note; and fourth, the remainder to the late chargee, iY any, referred ~ to in the Note. ~Any deficiency in the amount of any euch aggregate monthly payment ehall, unleee paid by the Mortgagor prior to the due date o~ the neat euch depoeit payable, conetitute an eveat of default under thie Mortgage. . ~ ' ! ! (c} A~y exceea funde that may be accumulated by reaeon of ~ the depoeite required under Paragraph ?(a) here0f, remaining a~ter . ~ ~ payment of the amounts described in clausee (i), (ii) and (iii) thereof, shall be credited to eubeequent respective monthl~ amounte of the eame n~ture required to be paid thereunder. If any euch . ~ ~ amoun~C ehall exceed the eetimate therefor, the Mortgagor ahall forth- with pay to the Mortgagee the amount of such deficiency upon written notice by the Mortgagee of the amount thereof. Failure to do so before the due date of euch amount ehall be an event of default under thie Mortgage. If the mort~aged property ie sold under forecloeure . or ie otherwiae acquired by tbe Mortgagee, after default by the Mortgagor, any remaining balance of the accumulatione under Para- ~ _ graph ?(a) hereof, ehall be credited to the principal amount owing ~ on the Note ae of the date o~.commencement o~ forecloaure pacoceedinge ~ ~ ~or the mortgaged property, or ae of the date the mortgaged property ; { r: . ~ ie otherwise so acquired. ~ ; ~ i ~ ~ ~ 8. The Improvemente and all plane and epecificatione therefor ' ~ eball comply with all applicable municipal ordinencee, regulatione, 'a" ~ ; ~ and"-rulee made or promulgated by lawYul authority, and upon tbeir ~ ~ OR ~ry ~ BOOK ~ / O PACE ~81 ~ - ~ r _ a~ i x ,..v+~S?,;-",a. ~r= . ~ ..,~,.=:Y'-;