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<br /> ��p„�,�,,, commenoement or defense of �ny praoeedinc� or threatened suit or _
<br /> --- proceeding, shall be immediately dua and payable by Grantor, with
<br /> _-;,.;,;:; int�erest thereon �t the past maturity rate and shal]. be seaured by
<br /> °�``� thfs Deed. -
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<br /> �`°'=�°�� 3.4 �p.g��`"^*j^n of Prac��� �E ForAC]o�sure Sa„�,e,. The -
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<br /> " = proceeds of any foreclosure sale of the Premises shall be __
<br /> �'� dietributed and applied in the following order of priority: first,
<br /> . to �he pAyrnAnt of the Grr�ntor's obllgati�ns under the Ground Lease;
<br /> second, on account of all aosts and expenses incident ta the
<br />��-�.�-�-�� forzclosure proceedings, including all such items as are mentioned
<br /> ---_ in tho preceding paragraph hereaf; third, all other items which
<br /> °°�" under the terms hereof constitu�e secured indebtedness additional
<br /> �� to that evidenced by the Note, wi�h inter�s�t thereon as herein
<br /> -u��-�`� provided; fourth, all principal and interest remaininq unpaid on
<br /> �'�_="�"'°" the Note and fifth, any overage ta Grantor and the successors or
<br /> -���� as�igns of Grantor, as kheir rights may appear.
<br /> 3. 5 Apn> ;cai:ion of Income Received bv Trus�pe. Trustee, in
<br /> -'�-=-� the exercise of the rights and powers hereinabove conferred upon it
<br />_!_����� by this Article 3 hereof sha11 have full power to use and apply the
<br /> =--- - avails, rents, issues and profits oP the Premises to the payment of
<br /> ,�,� or on account of the follawing, in suah order as Trustee may
<br /> datermine:
<br /> - (a) to the payment of the op�rating expenses of the
<br /> '_:_;�°�� Premises, of the performance of Grantor's obligations under tl�e
<br /> =�' " Gr.ound Lease and of collection, including cost of management and
<br /> �"r'`�� leasing theaceof (which shall include reasonable compensation ta
<br /> —��'� T;.ustea a=�3 it� sg�nt cr w7pIZ�-�`i i f manaaement be deieqated to an
<br /> --��'-�"" agent or aqents and shall also include lease commission�s and other
<br /> - compensation and expenses of seeking and procuring tenants and
<br />_ entering into leases) , established claims for damages, if any, and
<br /> premiums on insurance hereinaloove authorized;
<br /> (b) to th� payment of taxes and special assessments now
<br /> -� due or wh3ch may h�reafter become due on ttie Premises; and, if tihis
<br /> --___- is a leasehold mortgage, of all rents due or which may become
<br /> hereafter due under the underlying lease;
<br /> � (c) to the payment of all repairs, decora�ing, renewals,
<br /> replacements, alterations, additions, betterments and improvements
<br /> —Y�, �f the Premises, and of placing the Premises in such condition as
<br /> �-- - -- will, in the judgment of Trustee, make it readily rentable; and
<br /> �=��:t�-�� (d) to the payment of any indebtedness secured hereby or
<br />=���� any deficiency which may result from any foreclosu;.e sale.
<br /> . � 3 .6 An,pointment of Receiver. Trust�e shall be entitled, upon
<br />-°��,�.�� or at any tims after rhe commencement of any proceedings instituted
<br /> -='`a"R� upon the occurrence of an uncured•event of default hereunder, as a
<br /> ma�ter of strict right, upon the order of any court of compe�ent
<br />;:�y�?��: � jurisdiction, to the appointment of a receiver of the Premises.
<br />-_ _ . � . Such appointment may be made either before or after sale, withaut
<br /> �"' " notice, without regard to the solvency or insolvency of Grantor at
<br />:.'��` �,':' .. the time of application for such receiver and wi�hout regard to the
<br /> - then value of the Pxemises or whether the same shall be then
<br /> ;�� occupied as a homestead �r not and Beneficiary hereunder or any
<br /> i � holders hereof may be app�inted as such receiver. Such receiver =
<br /> i shall have power: (a) to collect the rents, issues and profits of
<br /> the Premises; (b) ta extend or modify any then existing .leases and
<br /> ., � to ma3te new leases, which extensions, modif ications and ne� leases
<br /> � `• may provide for terms Co ex�,ire, or for options to lessees to
<br /> _ �_ e.,,-o„� �,. ,,-Ana�.r tPrms ta exnire, beyond the matur.ity date of the
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<br /> indebtedness hereunder and beyond the date of the issua�ce o= a _
<br /> deed or deeds to a purchaser or purchasers at a foreclosure sale,
<br /> it beinq understood and agreed that any such leases, and the
<br /> ' option� or other such provisinns te be contained therein, shall be
<br /> ibinding u�on Grantor and �11 persons whose interests in the
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