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Home My WebLink About0644 ~ _ ~ ~ , ',ti~t ~!l@ !'i01^t'.~5~; -v`'z :^S~ ~~'JE'. ~:c1.Q ~.r,y t~'2@ 1i0i ~~$~;E:2 ~ OI' any 2.~E'.:1t C:f.'51.~- r.~aten by it , in trust z~ ~e used o: ~y for t:~e psy~ent cf ~uc.~ orour.d rants, pre.~iums, tax~:s, ~ssess~ents, wa~er rates ar~d ot.~er ~overnmental ; ~;:arges \o interes ~ shall be payable by tr.e :~iortgagee on a.ny sum so caposited. ' (h) All amour.ts required t~ be deposited witn tne i~:ortbagee monthly 'n accordance wi~h P~ragrap'n 7(a) Y!ereoi, and the a~ount of ~rincipal 3nd ~ nierest to be Ya.id each raonth on account of the Yo-'te, shali oe added to- ;~ether, an3 the a~;grzgate anounti ~hereof shall be paid by t:~e lfortgagor ~o the i~iartgaoee in a sir,~le pay~~:~t to be applied by the Mortoagee on ac- ~ount of the ir.debtedr.ess of the ~iortgagor pursuant to the 2iote and this :~:~rtgage ( ~o ihe exter.t that moni~s are available from the ~.mount so de- Josited), in t'ne'oraer, an;~ provision oi tne Note to tY~econ~rary notwith- ~~anding, as fallows: FirSt~ to the amount .of such ground rents, if any, iire and other :~azard insurar.ce p~^eniuas, taxes, assessments, water rates znd other gov- ernmental c:arges reo,uired to be paid under the provisions~of this Mort- ~age, in wY:at2ver sequence the Mortgagee may exclusively deternine; S~cona, to interest due on the Yo~e; , T~:ird, to thz principal due on the Note; and rour-ch, the remainder to the late charges, if any, referred to -n the Ivote. ::;~y deficiency ~n the anount of any such aggregate monthly payment shall, ~.~:~less paid by the ~iortgagor prior to the due date of the ne~t such depo- sit payabie, constitute a~ event of default under this Mort~age. - c ~-"~~~iu~s~t~-may--Qe--accumvia~e~-~-~eri~a~-s~--#~e-- ~e~osi~s requ~red under Paragraph 7(a) hereof, remaining after payment of ~^e arnoan~s described in clauses (i}, (ii) and (iii) thereof, shall be ~ credited to subsequent respective monthly amounts of the s~ne rature re- ; i ~ ~uired rto ae pa~d tnereunder. If any such amaunt shall exceea the esti- + ~ ::ate thereior, z'ne :~iortgagor shall forthwith pay to the Mor~gagee the aaount ~ i ~ suc'n de~ieiency upon written notice by the Mortgagee of tne a.mount ~ ~ ~~:zreo~.. Failure to cio so be~ore the due date of such a.mount shall be an ~ cvznt oi defaul-~?under t'nis Mortgage. If the mortgaged property is scld ~ ~ under foreclosLre or is otherwise acquired by the Mortgagee, after default ~ ~ the i~rtgagcr, any rz~~.ining balance o~ the accvmulations under Para- _ ~ ~ ~rapr 7(a) 'r.ereo~, shall be credited to the principal amount owing o:~ the ~ ;:~te as o~ ~he Gate of conmencement of foreclosure proceedir.gs for the ~ ~ ~::,rtgaged pro~er~y, or as of the date the mortgaged property is ather- ~ ~ -:iise o ~ •c ~_e.:. - - ~ _ ; _.__-~e~:~~rQS~_s~eiZt~s_ar~__all ~l~,n~nd _ s~ecifications _therefor shall « - ~.;~~1;~ ~~:i a~l a~~licab~e municipal ordinances, regulation~, and rules r~> :~~,ae :,r ~~o~u=~ated 3;~ lawful authority, ana upon their com~Ietion sball ~ ~Mr, - ~:.ere~•r~ ~'r: and ~~~i ~h t'ne rules of the Board of Fire Unnerwriters J ..1 LJ ~ J ~ _ . ,-,:~:.,~cic ~ion. ~ ~ 5. t,T~or. anJ failure by Z'ne :~ortgagor to c~~ply with o~ perfora any '~-~`r the ter~:s, covenants or cor,ditions of this Mortgage requirin~ ~he pay- {h :er,t' of ar~y a~ount of ~or:ey by the i~ortgagor, other than the principai ~ BOOK 1~J PAGE 6 ` _ _ - _ ~ , _ : r ~ . ~ _ . - _ . . .;y . _ ~ ry