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paid. The Default Rate is hereby agreed to be the highest rate
permitted by law. ~
26. Except to the extent, if any, that Mortgagor is making
periodic payments of Impositions pursuant to the Lease, and
commencing upon the date that Mortgagor has failed to pay or cause
to be paid when due any Imposition, and/or interest under the Note
andjor required payment or amortization, Mortgagor shall, upon
demand by Mortgagee and thereafter so long as this Mortgage remains
unsatisfied, deposit with Mortgagee, monthly one-twelfth (1/12th)
of the annual charges for insurance premiums and all real estate
E taxes, assessments, water and other charges which might become a
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~4 lien upon the Premises, and shall also deposit with Mortgagee a
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~ sum of money which, together with the monthly installments
t aforementioned, will bE sufficient to make each of the payments
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aforementioned at least thirty (30) days prior to the date such
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~ payments first become payable, Shvuld the said charges not be
~ ascertainable at the time any deposit is required to be made with
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I Mortgagee, the deposit shall be made on the basis of the charges
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~ for the prior year, upon the charges being fixed for the then
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~ current year, Mortgagor shall deposit any deficiency with
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~ Mortgagee. The funds so deposited with Mortgagee shall be held by
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it without interest and, provided Mortgaqor shall not be in default
in the performance of its abligations hereunder, shall be applied
, in payment of the charges aforementioned when and as payable, to
' the extent Mortgagee shall have such funds on hand. In the event
of any default in the performance of any of the obligations of
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aooK675 P~~E1498
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