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<br /> � amounts pa3d and expenses fncurred� ir� good fafth, by First � � � .
<br /> f �uerican, : under the Fir6t �ner�eari �saan II�ocazmenta or otherwi�e, , . .
<br /> � te preserve the value of the Co3��atera� ar ta preserve or �
<br /> - � er�for�� the lien of the Fir�t Am�rican Ko�g�ge �ments. .
<br />— ..4. an the event of ar�y licsuf.dation, bankruptclf,
<br /> co�lection or� any other s3.miiar proceedingr the Priori��.es set
<br /> . forth�•#.� this Agreement shall continue to be aperative attd the �
<br /> . gravisions �f this Agreera�nt shall continue t� be applicable fn
<br /> ' ' any such proceeding. tTpon any distrilou�ian of the assets of the
<br /> '� ent af the Senior Obliga��ons, whether b��
<br /> , Mortgaqor, or � read��� �
<br /> �son of liquidatian, ba�sPt�Y. assignmer►t for the benefit af ' .
<br /> ��E��,���s or any flther actxan�� or preceeding involving 4:he " -
<br /> -l— ,�ead�ustment• s�� any or al� �f the Subordinate Obligati�ons, a� � � T
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<br /> _ the app�.acatiora of assets of the Mortgagor to the w�yment or ; .
<br /> �:�.��r�ation thereof, either
<br /> in whole or in part o�: . First Ameriw.�n {,i�'�
<br /> f�:-
<br /> shall be entitled to receive payaient in full o�' the Senior __
<br /> Obligations prior to the pay�►ec�� of all or any of the .
<br /> Subordinate Obligations, and in order to enable F�rst AacerfCan
<br /> — to assert and enforce its rights hereunde� in any such ��ction or
<br /> proc�eedinq, or upon the happening of arny such event, First % . +
<br /> ;,:
<br /> American is hereby irrevocably authorized and empz��ered, in
<br /> . �,
<br /> First American's Wole discretion, ko make and presen�, for and ��;�,, :.,.=
<br /> :ti.:.:�;:;.
<br /> on behalf c�f Subordinate Mortgagee, �uch proofs o�. cl.aims � �,;;++;,f_-
<br /> � against the �^a�gagor on a.��ount of all or any of the � '
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