The term 'PACE; LADDER RUNG' can be summarized as a STEP in a process that is taken at a steady rate. The first word, PACE, is defined as the rate of movement or progress, while the second word, LADDER RUNG, is defined as a single STEP on a LADDER. Together, they represent a single STEP in a process that is taken at a steady rate. This phrase is often used to describe the gradual progress of a project or goal, and it can also be used to refer to the incremental steps taken to reach a desired outcome.