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<br />(a) take immediate possession of the Mortgaged Property, collect
<br />and receive all credits, outstanding accounts and bills- receivable of
<br />the Mortgagor and all rents, income, revenues and profits- pertaining
<br />to or arising-from the Mortgaged Property, or any part thereof, and
<br />Issue binding receipts therefor; and manage, control and operate the
<br />Mortgaged Property as fully as the Mortgagor might do if in possession
<br />thereof, including, without limitation, the making of all rapaira or
<br />replacements deemed necessary or advisable;
<br />(b) proceed to protect and enforce the rights of the Mortgagees and
<br />Che rights of the noteholder or noteholders under this Mortgage by suits-
<br />or actions in equity or at law in any court or courts of competent juris-
<br />diction, whether for specific performance of any covenant or.anp agreement
<br />contained herein or in aid of the execution of any power herein granted or
<br />for the foreclosure hereof or hereunder or for the sale of the Mortgaged
<br />Property, or any part thereof, or to col7.ect the debts hereby secured or
<br />for the enforcement of such ocher or additional appropriate legal or equit-
<br />a61e remedies as may be deemed most effectual to protect and enforce the
<br />rights and remedies herein granted or conferred, and in the event of the
<br />institution of any such action or suit the noteholder or noteholders ins ti-
<br />tuting such action or suit shall have the right to have appointed a receiver
<br />of the Mortgaged Property and of ail rents, income, revenues and profits
<br />?ertaining thereto or arising therefrom derived, received or had from the
<br />time of the commencement of such suit or action, and such receiver shall
<br />have all the usual powers and duties of receivers, in like and similar cases,
<br />to the fullest extent permitted by law, and if application shall be made for
<br />the appointment of a receiver the Mortgagor hereby expressly consents that
<br />the court to which such application shall be made may make said appointment;
<br />and
<br />(c) sell or cause to be sold all and singular the ?tortgaged Property
<br />or any part thereof, and all right, title, interest, claim and demand of
<br />the Mortgagor therein or thereto, at public auction ac such place in any
<br />county in which the property to be sold, or any part thereof is located,
<br />at such time and upon such terms as may be specified in a notice of sale,
<br />which shall state the time when and the place where the sale is to be held,
<br />shall contain a brief general description of the property to be sold, and
<br />shall be given by mailing a copy thereof to the bortgagor at least fifteen
<br />(15} days prior to the date fined for such sale and 6y publishing the same
<br />once in =_ach week for two successlve calendar weeks prior to the date of
<br />such sale in a newspaper of general circulation published in said county,
<br />or if no such newspaper is published in such county, in a newspaper of
<br />general circulation in such county, the first such publication to be not
<br />less than fifteen (15) days nor more than thirty {30) days prior co the
<br />date fixed for such sale. Any sale to 6e made under this subparagraph (c)
<br />of this section 2 may be adjourned from time to time by announcement at
<br />the time and place appointed for such sale or for such adjourned sale or
<br />sales, and without further notice or publication the sale may be had at
<br />the time and place to which the same shall be adjourned, provided, however,
<br />that in the event another or different notice of sale or another or different
<br />manner of conducting the same shall be required by law the notice of sale
<br />shall be given cr the sale shall be conducted, as the case may be, ir. accocd-
<br />ance with the applicable provisions of law.
<br />SEGTZO~I 3. If, within thirty {30) days after the majority noteholders
<br />shall have had knowledge of the happening of an event or events of default, the
<br />majority noteholders shalt not have proceeded to exercise the rights and enforce
<br />each of the remedies herein or by law conferred upon oz reserved to the Mortgagees
<br />or to said majority noteholders, then, and only then, any noteholder for itself
<br />and as the agent of all the other noteholders, including the majority noteholders,
<br />~Y Proceed to exercise any such right or rights and remedy or remedies sot being
<br />enforced by the majority noteholders. Yo thing contained in this Mortgage shall
<br />affect or impair the right, which is absolute and unconditional, of any holder of
<br />any Hots wlsich may be secured hereby to enforce the payment of the principal of vz
<br />interest on such note on the date or dates any such interest or principal shall
<br />tteeome due and payable is accordance with the terms of such noee.
<br />- 14 -
<br />Farm - Orig. Gnmaoon A - Tel. Bank Mtg. ?i';2
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