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„i ~'Q ~:l@ i~;Or~i,z,:~cc'c? S.^.: i i ~t? :c1C G`~/ i,Y12 ~iorteapee, C~ a21~`,J a~znt G~c?S~~-
~:~ated b;~ i;, ,_n tru~ ~ ~o ce used criy for ~he pay~~nt of sucn ~r~und
_~r.~s, ~re~~iu:~s, ~sxes, assessr~errts, wa~er rates and at:^.er ~overn~ental
~.~ar~es, \o interest s'r.all be payable by ~--~~a-~iortgagee on any su~ so ~
::enosited. !
~ (b) ~11 ~~our.ts requ~red to be deposited with the :rortga~ee montnly
:r. accordaace ~,rit:~ Paragrapn f ~aj ~ereo~, and the a.~ount of princi~al and
_nterest to ba ~id Each nonth on account of the Note, shall be added to-
;~etrer, anc t'nz ag~regate a~oun ~ there~f shall 3e paid by t::n I~ortgagor
~ o the TtIor ~oaUee i:~ a sinole : ayment to be applied by the Aiorz~agee on ac-
c~unt oi t~e indectedness of the Aiort~zgar pursuant to the i~ote and this
=:ortga~e (~o ~:a e~:tient that monies are available from the a~aount so de-
~~sited) ,;n z'r.e order, any prov~sio:~ of the ~Tote to the con ~rary notwith-
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standing, ~s ioilo:rs:
F~rst, to the a.mount af such grourd rents, if any, fire and other
:~azard insurance premiums, taxes, assessments, water rates and other gov-
~rnnental c:~arges required t~ be paid under the pravisions of t'nis Mort-
~age, in w'r;azever sequence the rlortgagee may exclusively deter~ine;
Second, to in~erest due on the I~ote; _
Th;rd, to the principal due on the N~te; and
f
rourz~, tne remainder to ti:~e late charges, if any, referred to
: n tr.e rlotz .
:r.y deficier.cy tihe amount o~ any such abgregate monthly ~aymznt shall,
:;n=ess paid by ~he ::ortgagor prior zo the due date of the nex~ such depo-
s~t payable, constitu~e an event o~ deiault under this Nortgage. ;
; ~
~ (c) Ai:y excess fu:~ds thati nay be accumulated by reason of the
E M~ y ` t ~n,~~ ~
0
i ~;z amoun~s descrioed in clauses (i), (ii) and (iii) t:~ereo~, shall be
t -
k credited to su~sequent respective monthly a~ounts of the sane nature re-
' ~a~red to 'oe paid thereunder. If any such amount shall exceed the esti-
~ ~~.te there~~r, t'r,e r;ortgagor s'nall iorthwith pay to the Mor~gagee the amount
~ :,i such de~ic~ency upon written notice by ~he i~ortgagee of ihe anount
~ ~::ereoi. ~ailur~ to do so before the due aate of such a,mounti shall be an
~ ;;vent of deiaalt under t:~is i~tortgaoe. If the mo'rtgaged property is sold
~ arder foreclosure or is ~thzrwise acquiled by the ~Sortgagee, after default
~ the ~or~gagor, any renainin~ balance of the acc~amulations under Para-
~ ~~apr 7(a) hereoi, shall be credited to the ~rincipal amount owing on the
y =:~~e as o~ the date of commencenen~ of faxeclosure proceedings for the
~ ::.;,rtgaoed ~perzy, or as of the da~e the mortgaged property is other-
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-:r~se s~ accuirec.
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~~'r:e Z~~ rove~ents and all ~ians and specificati~ns ~herefor shall ~
:~z; ;~~,,l;r r~~ a~~ applicable municipal ordinances, regulatior,s, an ru es
_ :~aae ~r pr:,~u~.~a~ec by lawful authority, and upon their comp~ etion ~nall
v~~ ~~~pl;~ ~~.e~e~•ri and w~ ;.'n t~e rules of ~re Board of Fire Underwriters
'~s t~ I~
_ ..~•t V 1 Y: 4~~~~.. li ~ li , V 1 •
~?~yr 9. ~:~n ar~y zzilure oy t'r.e :~tortoagor to c~mply with or perform any
= t?~,e ~Er:~s, covenan ~s ar conditions of this Mortgage requiring the pay- '
jx ::~nt oi a
ly anoun ~ c.' ~oney by t'ne i~ortgagor, other than the principal '
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BOOK 1~~ PtiGE ~5
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