Firstly undercoating is not a factory original product so we normally refer to the material applied at the factory as sound deadener since that is what Ford called it and keeps the two different products separate
Practices and paint patterns differ from year to year (even month to month) and between assembly plants - even specific painters at those plants. Below applied to the year you asked about - so others do not copy all of this unless you are doing a very similar vehicle
That being said there are a few changes I would offer
1- Seam sealers and sound deadener should be repaired or applied to all the factory seams and sound deadener applied to the rear wheelwells, inside surface of the rear quarter panels as well as all the other factory areas except for front wheelwells. This applied after the car was assembled and over all other paints
2- If all body work, body panel fitting and priming is done the undercarriage color/epoxy primer sealer is applied (other plants and years can be different order) The color of this depends on the year and where your car was built
3- Interior panels (a pillars and vent areas) are painted
4- With the doors, trunk lid (all hinges and bolts in place) and the rear valance hung from the taillight panel (number and location of mounting screws in place at time of body painting depends on where your car was built.
Unibody and parts not attached to the car would then be painted (assuming all body work and priming were already done. You want to paint everything the same day since you can get various shades of the same paint different days based on allot of factors. Also if the color is metallic most painters will want to paint the panels that are off in the same orientation that they will be installed on the car - helps the paint lay correctly
5- You can allow the body paint to flow (overspray) into the rear wheelwells and along the bottom of the car and forward (depending on where your car was built) of the cowl or some painters choose to mask these areas up and apply "overspray" later. Just make sure that the overspray patterns make sense and match the paint pattern of the outer panels
6- Engine compartment black is applied next. How far rearward and where in the front wheelwells will depend again where the car was built and when. Black paint will extend to the base of the whindshield opening to black out defroster duct and body lip at the base of the windshield
7- Pinch weld black out is next - from front wheelwell to rear valance end of the rear quarter panel (rear valance not pulled into the body at that point (this year). Also this is a good time to apply the black out what will be under the ends of the large side molding and the tail light panel honeycomb panel. Details differ again based on plant.
8- Body panels can now be installed and the fun begins -
Think that is everything - have fun
