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1?:+v ~ u~ pri,.~r i t y over th~ lien of thI s Mortgage, the !lortbagor ehall n?ake the
~)rposits re~~uire~.i hy th~s Fara~;raph 7 only in the event of the termii~ation oC !
' ti~~ch ~~I,1 i~;:+' .un ut~ir~ t.hr pri~r ~~N~rr~~:~,;c slmi lar tnstrunc~tt. Thc llorti~agor ;
:.h:~ 1 1 ; i v~ pi ~,m~.~ n~~1 i~ r~ i n~: r i t i n~;. t u t h~ ~Mirtga~;r~~ o C thc uccurr~~u~• oC
I li~~ I:e :t r~+•~il I~~ne~i ~w~•~~1 . A1 1 a~n l~ :~~~M?~~ut s so d~•~~t~tiit~•d ~Ii ll~ tlu~ !k»'t,r,:»,~•~~
uh:~ l l 1.~- l~i I~y t he ~~rcf:aj:"~'. ~~r ~~iv o•t~~~~1 desi ~;natat by i l, in trust t~~ b.• i
,~xc~l nu I;. I~~~r t h~• ~?:~r~e„r ~f s~~ch ~:rc?un~l rents, premiums, l'axcs, asRessments, ~
watrr ~-atcs a~xi oth~~ govcrninental ~•h:~rs;~~s. No interest shall be payable hy r
tl~c llu~tf;agcc on any swn so depos i tc~l . ~
. (b) All amounts required to be deposited with the Mortgagee rwnthly in
accordance with Paragraph 7(a) hereof, and the amount of principal and interest
.to be patd each month on account ot the Note, shall be added together, and the
aggregate araount thereoE shall be paid by the i~tortgagor to the Mortgagee in a
single pAyment to be applied by the Mortgagee on account of the indebtedness
of the Mortoagor pursua~t to the Note an~ this Mortgage (to the extent that
monies are available fr~m the amount so deposited), in the order, any provlsion
of tt~e Note to the co~trary notwithstanding, as follows:
first, to the amount of such ~round rents, if any, fire and other
~ i~azard insura~ce premi_ums, taxes. assessme~its, water rates and
other.governmental ctzar;es required to be paid under the provisions
oC tl~is MortRaf;~>~ in wiiatever sequence the Mortgagee may excl~~sively '
:fececmine;
:
secon~i, to interNSt •!ue c~n the hote;
€
:
ti~ir~~~ ta chc in~•inal ~iue on tiie Note; anci
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fourth, the r~•mairxter co tl:c late char~;es, i f any, referred ta in ;
~he Note. ~
itny deficiency ir. the amo~int of an~• such a~Aregate monthly paymenl shall, ~
unless paid by th= .brtgagor prior to the due date of the next such deposit ~
payabl~, constitute an event of default under this Mortgagc.
Aoy e.ccess fuuds that may be accumulated by reason of the deposits ~
ce•~uirc! w~~•r Parabra~h 7(a) }-creof, renaining after paymenc of the acRCUnts
:i~scri'~~-~ in clauses (i), (ii) dil. (i i i) thereof, shall be crediCed to subse- ~
~ qt~c: _ r~s ~~•cti~•c monthly amounis c~~ lhe same nature requirecl to be ~aid tl~ere- ~
; :~rr±cr . If any su~h amn?mt sha2 1 exceesi thc ~estimate therefor, the Mort~agor ~
; si~all 1-nrll±with p~+y tc th•_ `•br~;;agee [he amount of such deCiciency :~ron wriit?r ~
»otic~c• '>y Li~e Plortgas~et o( thc amaunt thereof. Failure to do so before th~~ ~uc ;
datc su~i~ amount shall bc ~n ever?r of default urxler this Mortga~e. i: [h~ ?
~~:orC};~; ~~rop~rt~r is sold under foreclosure or is otherwise acquire~i by tlie ~
:~lurt;;as,c•~_, .cf~_ei cfefat~lt b~~ U~c .?•tort<;a^or, any reenaisiinr bzlance ot the accuiin~-
latio~~s i-:.~~_ r:'~ra~.ani~ 7(aj t,~~rco`, shall he credited to che principal an~unt
oa~i n~ on : i~c~ Ncc:~ as of ~he clate of c~r.~:nc~ncement of forcr 1~~~~ re proc~ed in ;s lor
th•: :.~:z<~~~1 ;•ro~erey~ ~r as of the ~ate the mortgaged property is c?thetl,?iSe
sc~ : . , ' .
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r}.;_ •;,rruvenents ~n~l all plans a:~~l s~>ec ificatio~s ti~cretor sha:l cn~:+;•i
c,i tl~ al l a~?plicahle m~~nic•ipal ur~~ i+~anr~~s, regulations arn~ r~eies ma~ie~ nr
~roi9ilL~~tecl b•; i:~Wful a~ithori[y, anci u~c~;~ their complet~.on, shall co~Pl~~
~i~e.-~-_~~t.'. a~~d -;;t'~ lhc: rutes ot ti~r. I~~ar~' of Fire Underwriters havinc; juri~-
,:j.:t ~c~n.
r~TV~~ r Caii~lre b~~ i n~ PIoCt.^,a~;or r*~ ~.-~r~ply wich ar pcrf.orm an}• of the
~ '~•e-rr cu::-nan~ s o: c~:ri i t ions o: ti~is ~lc~rr~a~e rec~~~iri n~; the payment of am•
.,r•c?~•nt ,~o ~ :;or~~;a~;n-, otner than che rrincipal a::~oun[ =he l~an
~ i?•~::ce~: I~y Clze ;~iotc, 1IiL~'Y~_'SC and o::~er charges, as provi<led in tl~e ho_c, ~
~ t!ic: :ic?.-~ -:.~,ee c~av at i:s rPtir,n r~ake st?:•1~ jay;nent. Every payment so m~de
~ ..hc~ ...;~L {;~:~~;i„tin., ica;~•:~ah:~r a~tnr;~ey's fees ~i.ncuri-e~t ehercb,~), wit'~
~ '~~r._ ~~c ~'~er~•on i s-o~~ ~I?e c:atc at ; uc': I:a.^aent, at t~e rat. of threr ~ci cen;
~
(~~j FCL- ~~?iz~~=•, ~:~~-e4:: an~ pat-?-:~~t,r. _~;r w~ic>> a differenL- r~tc of inrerest is
~ s~•e~c : :-c- ~ .;ha i 1 ;,a~-a1:~: 1,,~ :he ;1ort ganor to the rlo,-Lga~ee os~ ~?ci
:anf1
a::~' ,'.~11 t~• ~cc~•rcd by rt~;s :'~rt~;:~ . TLis Mort;a~;e witi~ respcct to an:• suc1~
~ 2;1Ci"~i: ~Iil"j ~~lt• iSi[er•.s_ r:~.,~1'~)!1 Sl78~1 C'ORStItU~/' a iIER Oil Ci1C :~or~_~a~ed'IT7'U~
t.. l~~ t?~.?;A:' 1'Ci1 actaci~i~~~ c.r accr~in SI!bs~nurn~ CO i11C lier. Jf
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~ r~~:# ~ . ~ _ _ aooK2~0 ~1888
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