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principal and intereat to be paid each month on account of the
Note, shall be added together, and the aggregate amount thereof
shall be paid by the Mortgagor to the'Mortgagee in a eingle payment
to be applied by the Mortgagee on account of the indebtednesa of the
Mortgagor pureuant to the Note and thie Mortgage (to the extent
that monies are available from the amou~t so depoeited), in the
order, any provieion of the Note to the contrary notwithatanding,
as followa:
first, to the amount of such ground rente, if any, fire
a~d other hazard ineurance premiume, tazee, aseessmenta,
water ratea and other governmental chargea required to be
paid under the proviaions of this Mortgage, in whatever
aequence the Mortgagee ma~ ezcluaively deternaine;
aecond, to interest due on the Note; ~ _
third, to the principal due on the Note; and
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fourth, the remainder to the late charges, if any, referred
to in the Note. ~
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Any deficiency in the amount of any auch aggregate monthly payment '
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shall, unlesa paid by the Mortgagor prior to the due date of the
next such deposit payable, constitute an event of default under thie
f Mortgage.
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(c) Any egceae funds that may be accumulated by reaaon of !
~ the depoaita required under Paragraph 7(a) hereof, remaining after
~ payment of the amounts described~in clauses (i), (ii) and (iii)
thereo~, ahall be credited to subsequent respective monthly amounts
of the same nature required to be paid thereunder. If any auch
amount shaYl exceed the eatimate therefor, the Mortgagor shall forth-
with pay to the Mortgagee the amount of euch deficiency upon wri:tten
notice by the Mortgagee of the amount thereof. Failure to do ao
before the due date of such amount ahall be an event o~ default under
thia Mortgage. If the mortgaged property is sold under forecloaure i
~ or i~ otherwiae acquired by the Mortgagee, after default by the
Mortgagor, any remaining balance of the accumulations under Para-
graph ?(a) hereof, ahall be credited to the principal amount owing
on the Note ae of the date of commencement of foreclosure proceedings
for the mortgaged property, or ae of the date the mortgaged property
ia otherwiee so acquired.
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8. The Improvements and all plana and epeciYicationa thereYor
ehall comply with all applicable municipal ordinancee, regulatione, ~
and~rulea made or promulgated by lawful authority, and upon their
aooK 175 p~ 9~
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