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85,,,,, 000717 <br />Mortgaged Property shall have been sold. All costs and expenses <br />(including attorneys' fees) incurred by Mortgagee in protecting <br />and enforcing its rights hereunder shall constitute a demand <br />obligation owing by the Mortgagor and shall bear interest at the <br />highest rate of interest then permitted by law, all of which <br />shall constitute a portion of the indebtedness secured by this <br />instrument. <br />Section 5. Sale of Mortgaged Property. Subject to the <br />provisions of any applica le law, Mortgagee may postpone the <br />sale of all or any portion of the Mortgaged Property by public <br />announcement at the time and place of such sale, and from time <br />to time thereafter may further postpone such sale by public <br />announcement made at the time of sale fixed by the preceding <br />postponement. Upon any sale, whether under the power of sale <br />hereby given or by virtue of judicial proceedings, it shall not <br />be necessary for Mortgagee, or any public officer acting under <br />execution or order of court, to have physically present or con- <br />structively in its possession any of the Mortgaged Property. <br />Upon any sale, whether made under the power of sale hereby given <br />or by virtue of judicial proceedings, the receipt of Mortgagee, <br />or of the officer making a sale under judicial proceedings, <br />shall be a sufficient discharge to the purchaser or purchasers <br />at any sale for his or their purchase money, and such purchaser <br />or purchasers, his or their successors, assigns, or personal <br />representatives, shall not, after paying such purchase money and <br />receiving such receipt therefor, be obligated to see to the <br />application of such purchase price, or be in anywise answerable <br />for any loss, misapplication, or nonapplication thereof. <br />Section 6. Application of Sale Proceeds. The proceeds of <br />sale of the Mortgaged Property, together with any other sums <br />then held by Mortgagee as part of the Mortgaged Property, shall <br />be applied as follows: <br />FIRST: To the payment of all necessary costs and <br />expenses incident to such sale and the protection and <br />enforcement of Mortgagee's rights hereunder, including, but <br />not limited to, a reasonable compensation to the agents and <br />attorneys of Mortgagee; <br />- 5 - <br />X <br />