498.—The proceeds of sale shall be applied by the wharfinger or warehouseman as follows, and in the following order:—

(i) First, if the goods are sold for home use, in payment of any customs or excise duties owing in respect thereof; then

(ii) In payment of the expenses of the sale; then

(iii) In payment of the charges of the wharfinger or warehouseman and the shipowner according to such priority as may be determined by the terms of the agreement (if any) in that behalf between them; or, if there is no such agreement—

(a) in payment of the rent, rates, and other charges due to the wharfinger or warehouseman in respect of the said goods; and then

(b) in payment of the amount claimed by the shipowner as due for freight or other charges in respect of the said goods;

and the surplus, if any, shall be paid to the owner of the goods.