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<br />I <br /> <br />84..--- 006618 <br /> <br />r <br /> <br /> <br />S.ction 8. Upon Default. to the extent <br />lawfully be waived. neither the Issuer DOr ..yon. <br />it shall or will set up, claia. or 8Clek to take <br />valuation, ata)'. extension, or redemption laws now <br />order to prevent or hinder the enforcement of this <br />the Mortgage herein provided. but the Issuer for iceelf <br />through or under it. hereby waives, to the extent that it <br />the ben.fit of all such lavs ..d all rigbts of <br />which it ")' be entitled under the laws of the State of <br />aothiDs 111. tbis Article IX shall be deellled to svbordiaete <br />Asr....nt to thiil Mortlale. <br />S.ction 9. Availabl. mone)'s shall be applied by the <br /> <br />follows: <br /> <br />(a) Unless th. principal of all the Bonds sball have becOllllt. or <br />shall bave been declared due and payabl., all such ..nay. sball be <br />applied: <br />- - -- ._.__._-~._-- <br /> <br />FIRST: To the payment to the penons entitled thereto of <br />arr-Inter.st then due, includina interest as is providei in <br />ArtIcl. II. SectIOt1 3. in the order of the stated ..tority <br />of interest installments. and if the amount available shall <br />not be sufficient to pay in full an)' particular instalt.ent <br />of inter.st. then to the payment ratably. accordina to the <br />amounts due cn such installment, to the persOtls entitled <br />thereto, without any discrimination or privilege. <br /> <br />SECOND: To the payment to the persons eotitled thereto of <br />the unpaid principal of any of the Bonds wbicb shall have <br />bee... due (other than Bonds called for red..,tion for the <br />payment of which moneys are held pursuant to the provisions <br />of this Hartlage). includlnl interest as 18 provided in <br />Article II, Section 3. 1n the order of their due dates, and. <br />if the amount available shall not be sufficient to pay in <br />full Ionds due on any particular date. tOleth.r with such <br />interest, then to tbe payment ratably. accordina to the <br />amount of principal due on such date. to the penons <br />entitled thereto without any discriminstion or privUese; <br />and <br /> <br />~: To tbe payment of the interest on snd the principal <br />of the Ionds. and to the redemption of Ionds. all in <br />accordance with the provisions of this Hortaeae. <br />(b) If the principal of all the Bonds shall have beco.e due or <br />shall have been declared due and payable. all such moneys shall be <br /> <br />52 <br /> <br />L <br /> <br />L <br /> <br />L__ <br /> <br />u <br /> <br />..J <br /> <br />