Morgan conveyed Greenacre, her one-family residence, to "Perez for life, remainder to Rowan, her heirs and assigns, subject, however, to First Bank's mortgage thereon." There was an unpaid balance on the mortgage of $10,000, which is payable in $1,000 annual installments plus interest at six percent on the unpaid balance, with the next payment due on July 1. Perez is now occupying Greenacre. The reasonable rental value of the property exceeds the sum necessary to meet all current charges. There is no applicable statute. Under the rules governing contributions between life tenants and remaindermen, how should the burden for payment be allocated?
Rowan must pay the principal payment, but Perez must pay the interest to First Bank.  Rowan must pay both the principal and interest payments to First Bank. Perez must pay both the principal and interest payments to First Bank. Perez must pay the principal payment, but Rowan must pay the interest to First Bank