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<br /> . . :iQCr1011 �IOG � .�lly' (:Il �lly� Lii 1. R1� 6 liOYtS?.i):l' �O l �lP i.Ofltl'� ;4 I1Ql1P1l�IFl311�� � U�,.; � � .. . . � ..
<br /> S. f ak any t: ine t}ie �a�me ��s fi� UIY2 If01!C{ t�ui�d ;;ha1. 1 �cot Lo si+ 4: S' i.ci��i� C �o }� ay t.Ne i;icerest
<br /> un or ChE princi�>al of tlir. Tlond � :3s t.he sai;,e sha .11 becc»f�e. voe and pa}•at� le
<br /> (either 6�� Clieir te.rin;s ur by acr_eLerat �ou of m� Curitieti u;tdec the provisi��nh
<br /> bf SecCi�n 802 of thi.s Arti� le ) , �uLl� moneys , toy;ether iri. kh any moneyes t:hen
<br /> " available ur tttereat: ter Lecamtny; availabi.e for i�uch purposei wheihei� through
<br /> 4 � khe esetriese of ti�e remedies provi�ied L'ur in Cltis Article , or othertoise , ahall
<br /> � bc ;tpplied as fol:lnwa :
<br /> 5;;
<br /> �
<br /> ;� (a ) Unlesg the principal of iall the 13ouds �liall tiave Uecume or �shali
<br /> ' hzve Ucen �iec.lared dUe aud �a� zUle all sucl� inoiie �s ahall be applied `
<br /> „
<br /> �:e { ' . � )
<br /> �it
<br /> < t'irst ; to the payment to Clte persoii� entitled tliereCo af all install-
<br /> ments of inL' eresC Chen due aud pa�=able in lhe order in whith
<br /> ' ` such installments becamc due and payable ;ind , if Lhe amount available ahall not
<br /> !�� be suffirienC Lo t>ay in fnll aity partiCular installttent , then lu ttie patinient ,
<br /> � rataUly , according to the amouttt � due c�u euch iustallment , to the persons entitled
<br /> � tliereCe , withotit an} discrirninati.un ur pre [eretice e�cepl as to au� differeace
<br /> ' " in the respeetive tates ut interec; l epecified iu the 13onda ;
<br /> ,z
<br /> 2
<br /> :yiG
<br /> ;; secondt to lhe pa}nnent Lo lhe �)ereuns eutitled Cltereto of the �inpaid
<br /> z -'� principal of an�• uf the lloncis �,I� icli �;►iail, haVe become due
<br /> f and payat� le (other ttian Bunds ccill.ed Lur redemptiun lor the �>a�menl- of �chich
<br /> „ xy� � moneys :�re held pursuauL- eo ehe pro� i.aions oi Ch .ta ttort: gagel , in the rr�ier
<br /> " ot their due dates , c,+i. th intererC en the yirinripal arrouut oC such llonds at the
<br /> E respective rates SpeciEied thereisi fr. om the cespective dates upoiic.�hich 3iidi
<br /> ?a� llonds became due �ud ��ayable � aud , i [ the amount avai1a61e aliall uuC be sufficieut
<br /> � Co pay in Cull the principal uf the ilunds due and payable nn an� 4�articiil.x
<br /> ;; date , t:ogether �riCh sucit interest , tlien Co Che paymenl: f` ir � t of �uch luterest ,
<br /> � ratabis , accordinr.: �� thc .imounC oi.' � uch intereyt due on such date , and C(ien
<br /> :� to ltte payrnient c�f Uuch principcil. , raeabl� , accor. din� tu Che amount oi c�ucii
<br /> pr .incipal due un such date ; to Che pernon � entitleS l-heretv ; �ri. Chout disr. ri�ination
<br /> ��� ar preference ; and , � ��
<br /> :a
<br /> � ; tltiYd : t:o the payment' oi: the intereal on an�i tl�e princ: ipai of Cfe
<br /> :'s 1)onda , to Che purcliaFe and retirenfeut of llunds aud Co the
<br /> � �'edemption of llond3 , all in ar.curdance �:ith tiie proeisi.on� of Articl.e l' t� f
<br /> 'x � lltic; Mortga �;t� .
<br /> .:�
<br /> � _
<br /> :� " ' (b ) If ttte principal o [ al.l. Che 13ondA sha11_ l�aee becrme or sha11 itave
<br /> been declareJ dae and �� ayable , sll such mo�teps shall Ge applleJ te the pacntent
<br /> ? oE the princi�� al a�id interesC Chen due aud unpail u4�on the Ilond „ �, iChout
<br /> � !: preference ur priorfC �• ol' prittcipal over inCere � C or ot iuCereFC c�ver �� rin�� lpa1 ,
<br /> ? r. r oE au�• i.nctallmeut uf f.nt:ere � t ceer ati�• uthr_ t- inet:alle�euC oI intererl , or
<br /> ; of am� Nond uvcr aup �� ther Ilond , rnCa61 �• , �iccurdin� to thc� amounte due respecli.��ele
<br /> : fur priucipaL and InteresC , to Cite person, c� nt: iLled tfterc� to �rithc�ut an �- di �srrlriiUa-
<br /> ' Cion or prefcreuce excepC a� Lo an�• dil' L'erence iu Che rer�pecCi.�� e ratea r� f i.nter� sC
<br /> w e� peciEied 1ti the liuitds .
<br /> t
<br /> y.,. .:;' . . . . . .
<br /> .t- '
<br /> � (u ) tE the principal oC ai. l Che I�euds �;ha ]_i have Ueen declareci due
<br /> `' ,�ud payable and if suclt declaration 51�all Chrrea ( ter have heen rescinded aud
<br /> ''� annulled tmder Clm provi ;� iuns uP tiecCti�n 502 oI Chir� AtCiclr , tlien , subJect t:u
<br /> i the proti� ision, oE para �; raph ( b ) oC Chis Section . tn CLe eveut t: haC Ciie princi.�� a1
<br /> � ` of 11. 1 Cl�e ltond3 , tia .11 l�iter l�ecomE: or be �leclared due aud pa �•ahle , thc mune �.a
<br /> ' ' remainin}; in +and thetealCer acccuinY Co CBe Buud Puud Uhall. be applied in ac ��ordnnce
<br /> wilh the proaision ;� uE p .� ragrctph ( :� ) ut this 9ection .
<br /> �i
<br /> IJhenaver an� monepc; are te be applied by Che :I'ruetee pursvattC Co ttie
<br /> pr��visiun3 ut CIiiH Section , :�uch mone�•s sliall. be .ipplied b �� Che Trustee at ,uch
<br /> ' ' '' Cime�3 and [ rom timn Lu time , ;� s tiie 'Cruetee { n 1Cs r� o1a� diHccetiun shnll. de �ermine ,
<br /> hnvin}, due rey,ard l-u the a�+ioiniC of cauch munerF :�vailable tor , uch a �+p .lic � tton and
<br /> s tlie likellliood o [ r3ddLcioneal muaev� becrmiuk a��nilal, lr_ Iut s �� �h ap �� lLraCi.un ln
<br /> Cl�e future ; Che depusit uL sur.h muneyea �rLth the l'avtus: :1.enCr , uc uCherwi �ae
<br /> c�etting ac� ide c�uch moncyea , in trust tor the preper purpese sli ;� ll ruuraliti� Ce
<br /> proper applicaCian t� y ttie 'f'rusCee ; aud thc 'L'ructee � hall im�ur no liabi .11Cy
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