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<br /> , . 76- 0057 �? �"
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<br /> ,, tahile in po � session ot sur. h prap� rty tt:e Trustce sh �111 ,
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<br /> � r�� render annually to thP T3onciholder. s , at their addresses set forth l
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<br /> � ,"^ on the list required 6y Article IV , Section 6 , hereo �' , a sur.unari. zed ;
<br /> ' 4='� statement of income and expenditures in connection theretaith . ,
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<br /> �; Upon occurrence of an event of default , as deFined in F
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<br /> Article IR , Section 1 , of this Dfortgage , tliz li.en on the Project ;
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<br /> �� created and vested by this P�ortaaRe may bc foreclased either by � -
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<br /> ;� public sale or by proceeciinqs in eqi� .ity , Znci the Trustee or. the `
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<br /> ;n holder or holders of an}� of the l3onds then oufistandinq , whether �
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<br /> qp�s or not then in default of. payment of princinal or interest , may �
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<br /> � become the purcha ,er at any foreclosure sale , if the hi �hest
<br /> � bidder . i -
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<br /> '' In the etrent the Tru ., tee � _ � �
<br /> t,r ^ Pur. ch�lses the Pro ' � ct at an �
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<br /> ' �� such foreclosure sale , it shall have the riqht an �i authority to ;
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<br /> `� manaqe , lease and sell t}ie same on �,�hatever te. r. ms and conditions ,
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<br /> it deems to he in the l�est interests of the F?ondholciers , including
<br /> �� determination as to price and method of. pa��, ,ent , includinq the �
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<br /> � A carrying bac}: of part or all of thc purchn ::n price b}� n� tes a�id ,
<br /> �� mor. tRages . �
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<br /> � ;�4 Gection 9 . [ipon tlie occurrence of an event of defiult ,
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<br /> ;� the 'Prustce may , as an alter. native , proce� d ci. ther afY_ er. entry or
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<br /> I �oithout entry , to i�ursue an }� availal� le rnmedy ).�y suit in la�a or
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<br /> µ � in equity , to enforce the payment of ttie principal oF and interest
<br /> � on the ➢onds then outstandin � hereuncler , includina , �oithout li�vi -
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<br /> y! tation , foreclosure and mandamus .
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<br /> `� If. an event of def. ault shall. hnve occurred , an �i if it
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<br /> , �� shall have been requested so to do hy the holders of fif. Yy - one
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<br /> �:3<ty . . � .
<br /> ' d, percent i51 � ) in anctregate principal amount of Ltonds outstanding
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<br /> � �k hereundn_r , and shall have he� n indemnified as provided in nrticle
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<br /> ,r,� X , Section 1 , hereof , the Trustee shall be ohliqed to exercise
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<br /> "`� one or more of the riphts ar. d . powers conterr� d 1?y this section ,
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<br /> '� and by �lr. ticle ZR , Section 3 , as tite Trustee , heinq advised by �' �'r' '-= '
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<br /> t Y(�, Counsel , shall deem most expedient in the interest of �he IIond - • �t
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<br /> � holders .
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