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~~A V i ll~ (~l i.~~ri t y over the licn of thi s Mortgage, the l~urt~abor ahall make the ~
~Icposi~s rs~~uirrJ by this Fara~;raph 7 only t~ the event of the teranination oC
~~~ch ~?1,1 i~;.~t .ui~ urr1~•r tli.• ~ri~r ~norr~;:i;;c ~r similar instrumenl•. 1'hc Mc+rt~a~or
:.i~:~ll .:iv~• p~•xa~.~ n~~ti~•i•. i~ tilrilin};, lu li~~ I~Mitg,A~;~~~ oC tlte occurrenc~r of
11~~• ~:~sl. u~~•ullt~ne~l ~w~•n~. AI! ynci~ nm~~~wls so J~•roslt4`d ~,ilth tha' M?~rt~tu+;~•~• (
uL:~l l 1,~• li~ I~I I~y ~h~ AMrI'~,aj,~:c, ur :ury n~~c•nt desi~;nutrd by it, in trust tc~ 1~~~ {
ug(:~I e~~~ ~ j (~~1' l ~i~! ~»y~ne~~t Of S~~r~1 y;l'OUM1 1'CI1CS ~ premiwns, CAXCS ~ 93St:S81i1CI1CS ~ '
wa~c~r ra~cv ancl other governmcntal cl~ar~;..•s. No interest shall be payable I~y `
tl~c ~ lk~cl'~ Age~ o~ any s~un so depos i te~~ . ;
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(b) All amounts required to be dcposited witb the Mortgagee monthly ia s
accordance witti Paragraph 7(a) hereof, and the amount of principal and interest ~
tc? be paid each month on account of the Note, at~all be added together, and the ~
aggi•egate anount thereoE shall be paid by the Nortgagor to the Mortgagee in a
single paya~ent to be applied by the Mortgagee on account of the indebtedness ~
of the l:ort~agor pursuant to the Note and this Nortgage (to the extent tkat c
. monies are avai;able frc~m the amount so deposited), in the order, any provisio~s ~
~f the Note to the contrary not~+fthstanding, as follac+s: `
e:~mount of such round rents if an fire a~d otl~er ~
first, to th ~ . y, s
hazard insura~ce pren,iuTS. caxes, assessments, water rates and ~
other govcrnmentat ct~ar~~s reqaired to be paid under the prov~sions ~
oL this MortRap,~•. i~ wii3tever sequence the Mortgagee may excl~~sively
~!etermine;
sccond, to inter~~:,t ~t~,e on the ~lote;
[i~:rd, to thc ~ri~~-i,~a1 dne on the Note; encl
, fourtr, the r~•r~~ain~ier to tl~e late char~es, if any, referred to i~ ~
the Nnte. ~
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l+ny cief iciency i n tlie amuunt of any st~ch aggregate monthly payment sha 11, ~
unless paid by the Mortgagor prior to the due date oC the next such deposit
~ayabl~, con~titute event of dcfault under this Mortgage, ~
(cj A_ny e-ccess funds that nay be accumulated by reasan of the deposits
' _e~{uire•1 iul~^r Yaranraph 7(a) h~•reof, remaining after paymenr of the ai±icunts
:lcsc'ri!~.:c! i~~ :la«ses (i), (ii) and (ii~) ti~ereof, shall bc crediled Co sul~se-
quc r~sl~••rcivr montht} amounts oi the same na[ure requirecl to be paid there-
:,ncic•t . Tf any such arnc~t~nt shal; excee~ the estimate therefor, the Mortgagor
~ siiali i~iCL'I~wir.~, J-.ay ti~ r_he '-'.~i ~s;agee ti~e amount of such deficiency ~pon wrict~r !
noticc ti; ti:e rWr[ga~c~ u:` t~u~ a~ount thcreof. FaiZure to do so before thc duc ;
~i:+te ~~t s~,ct~ amount shall ~e an everit of default unci~r this Mortga~c•. 1 i th~~
~~~ort};a--r~~ ,~~~pcti•ty is ~old ander toreclosure or is othen~rise acquire~l :~y thc- •
.tort~al;c af~ c~< <IEfa~:l t by ~h~ ;1c~re,;a^.or, an_y remai~iin~ balance ot the accwn~:-
latiuns i-:,ci.r; P~ra~raPi: '(a) {ieceo£, siiall be credited [o tl~e principal amouni
o4~i n~; un No[e a~ ot tt~e :late of cnr..~~nc~ment o~ fore.• Los~ re proceed in~;s ioc
tt~e :,oi :.•-a~> ~l -~ro~ert_y, ~r as o~ thc c~ate the mortgaoed propcrty is othen+is~
S1 ::C •t:.i i ~
+i. ''•3•f~ ?~~~ruver~eot~ .nd all plans a~~~l s!=ecifications therefor sha~i c_om•~i ~
t•rit.l~ al1 a!?~licahle munic-ipal or~ti~~ances, :eRulations and r~rles ma~i~ ~ ~i
pra^~~~i:•::ted b;; :a~ful authurity, an~l uFo:~ their completion, shall cor.i~i•
chr_:~~: ~t_'. a~.~d witl~ the rules of the Boar:! of Fire Undert,rriters havinN, juri~-
''lct it~n.
t~, r.••,r, r~.,•~ (ai=~:re b~l ti;e Tk~rtva~;oi- to ~~~+ply vith or per~orm an~ of the
: ~•?-~r~, r~?v_•n. nts o: ccrrii Cions c~f tiiis Mort~age requiri.n•; the payznent of am•
a~o~~n[ ~~oie~• ti:c~ ?~ort~;.z;=or, ot:je~- tlian the principal a:~~ount ~~f the l~~n
•~•~;-t~~:~~-c~z 1~_: lhe :~~tc, in[~rest and ati~er charges, as provi~led in t~~e ho_~c,
~ i~a ::or' -~.;,ee r.±av at i cs opt iun make s:~~•!: paycnent. Ever~ paymen[ so nade
~::c~ ~ ;c~ (ir:•l r~! in;, rcas:~nab2c~ ~rCn~iley ~S fees incurre~i thercb.~) ~ W; t'~ ~
~-~r:.~. ~'.:•~r~•on fro~ ~l~e c:ate of sucs: pa}^..~ent, at the rat~~ o: threr ~ercen:
~.Zt; ~.•L•r :t't!!U•', e:f CGt': aie~ ~~1:-'t'tutl:. '_i•I W:1LC~1 3 dl~ferent 1'~1LC Of irterest 15
s~•~~r. il~'.~i:?, si~i! i::._ ,~~i~•abl. b,• :.he ;~!ortga~or to th~ ilortga~ee o:: ~'ci.:an~t
ir.~' s' t~• :aeci~_-e3 by s::+~r_ . Ti~is tbrigage wi ti? r~sp~et to an, suc!~
as~c~~-i: ati~1 inter~rst r:•~.:~~nn s~~atl ~o~~stitu[c a lien on t::c mor~~;aded ;~:-o-
t_~, ai.~ u~_L-v:" ~?(.'il a:~acl~in~ nr 3CCT"llifl S1!ySC~1UCl1L to ti~e l ien of
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aooK229 ~2849 ;
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