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with the Mortgage~ ehall be held by the Mortgagee, or any ageot deeig-
nated by it, in truat to be uaed only tor the payment oi euoh ground
reats, premiuma, taxee, aeeeeemeate,~water ratee and otber governmental '
chargee. No intereet ehall be payable by the Mortgagee on any eum eo •
depoeited.
.(b) All amounta required to be depoeited witb the Mortgagee monthly ~
in acaordance with Paragraph ?(a) hereof, and the amount o! principal and
intereat to be pai.d each month on account.oY the Note, ehall be added to-
getber, and the aggregate amount thereof ehall be paid by tt~e Mortgagor ~
to the Mortgagee in a single payment to be applied by tbe Mortgagee on ac-
count of the indebtedneea of the Mortgagor pureuant to-the Note and tbie
Mortgage (to the extent that monies are available from the amount so de-
posited), in the order, any proxieion of tbe Note to tbe contrary_notwith-
standing, aa followa: • ~
Fir t, to the amount of euch ground rente, if any, fire and other
hazard inaurance premiums, taxea, aasesamenta, wa~er ratee and ottier gov-.
ernmental chargea required to be paid under the provieione of thie Mort-
gage, in whatever sequence tbe Mortgagee may exclueively determine; .
: Se__.cond, to intereet due on tbe Note; .
Third, to tbe principal due on tbe Note; and . ~ ~
Fourth, the remainder to tbe late chargee, i~ any, referred to ~
in the Note. '
Any deYiciency in~the amount of any euch aggregate monthly payme~t~ehall,
unless paid by the Mortgagor prior to the due date of the next eucb depo- ~
sit payable, conetitute an event of default under tbie Mortgage.
:(c) Any exceao funds that may be accumulated by reseon~'of tbe
depoeits required under Paragraph~?(a•) hereof, remaining after payment oY
the amounts descri'bed in claueee (i),_ (ii) and (iii) thereoY, sball be z
ri
credited to aubsequent reapective monthly amounte oY the eame natpre re- ~
quired to be paid thereunder. IY any sucb amount ehall eaceed the esti- ~
i ~ate therefor, the Mortgago~r ahall forthwitb pay to the Mortgagee the amount ~
~ of such deficiency upon written notice by tbe Mortgagee of the amount
thereoY. Failure to do eo before the due date of euch emount shall be an ~
event of default under thie Mortgage. If the mortgaged propertq ie aold ~
under foreclosure or ie otherwiee acquired by the Mortgagee, aYter default
by the Mortgagor, any remaining balance.of the accumulations under Para-
graph 7(a) hereof, eball be credited to~the principal amount owing on tbe
`~te as oY the date of commencement oY forecloeure proceedinge Ior tbe
~.ortgaged property, or ae oY tbe date the mortgaged propert8 ie other- '
r wise so acqui.red. .
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~ 8. The Imgrovement~ and all~plane and epecificatione therefor ahall
^omply with all.applicable municipal ordinancea, regulatione, and rulea
~ Wade or promulgated by lawYul autbority, and upori their coa?pletion shall
comply therewith and with the rulee of the Board oi Fire Underwritere
~aving ~urfediction.
9. IIpon any failure by tbe Mortgagor to comply with or periorm any
of the terms, covenante or coAditione•of thie Mortgage requiring tbe pay-
r~ent oY any amou~t of money by the Mortgagor, other thap tbe prineipal
. ~ ~ 186 ~ 42p ~ - ~ ,
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