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Farm - orig. Common xEa - xel. bank Mc~`f''~' 1)(j~~.rj3 2/72
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<br />SECTION 4. At any sale hereunder any noteholder or noteholders shall
<br />have the right to bid for and purchase-the Mortgaged Property, or-such part
<br />thereof as-shall be offered for sale, and any noteholder or noteholders may
<br />agp'ly in settlement of the gurchase price of the property go purchased che por-
<br />ticn of the nest proeaads of-such sales which would ba applicable to the payment
<br />on account of the principal of and lnteraat on che note or notes-held by such
<br />netaholder or noteholders, and such amount so applied shall be credited as a
<br />payment do account of principal of and interest on the note or notes'-held by
<br />such noteholder ar notehnlders.
<br />SEGfION 5. Any proceeds or funds arising from the exercise of any
<br />rights or che enforcement of any remedies herein provided after ttte payment or
<br />provision for Che payment of any and all costs and expenses in connection with
<br />the exercise of such rights or the enforcement of such remedies shall be applied
<br />first, to the payment of indebtedness hereby secured other than the principal of
<br />or interest on the notes; second, to the ratable payment of interest which shall
<br />have accrued on the notes and which shall be unpaid; third, to the ratable pay-
<br />ment of ar on account of the unpaid principal of the notes, and the balance, if
<br />any, shall be paid to whosoever shall be entitled thereto.
<br />SECTION 6. The Mortgagor covenants that it will give immediate written.
<br />notice to both of the Mortgagees and to all of the notehnlders of the occurrence
<br />of an event of de€ault or in the event that any right or remedy described in
<br />clauses (a) through (f) of section 1 of chic article IZI is exercised or enforced,
<br />ar any action is taken tc exercise or enforce anq such right or remedy.
<br />SECTION 7. Every right er remedy herein conferred upon or reserved to
<br />the Mortgagees or to the noteholders shall be cumulative and shall be in addition
<br />to every other right and remedy given hereunder or now or hereafter existing ac
<br />law, or is equity, or by statute. The pursuit of any right or remedy shalt nest
<br />be cans trued as an election.
<br />SECTION 8. The Mortgagor, for itself and all who may claim through or
<br />under it, covenants that it will nest at any time insist upon or plead, or in any
<br />manner whatever claim, or takes the benefit oz advantages cf, any appraisemenc,
<br />valuation, stay, extension or redemption laws nva or hare~fter in force in any
<br />locality where any of che Mart gaged Froperty may be situated, in order to prevent,
<br />delay or hinder the enforcement or foreclosure of this Mart gage, or the absolute
<br />sale of the Mortgaged Property, or any part thereof, or the #inal and absolute
<br />putting into possession thereof, immediately after such sale, of the purchaser
<br />or purchasers thereat, and the Mortgagor, for itself and all who may claim through
<br />or under it, hereby waives the benefit of all such laws unless such waiver shall
<br />be #orbidden by law.
<br />ARTICLE in
<br />POSSESSION UNTIL DEFAUL?-DL'FEASANCE CLAUSE
<br />SECTION 1. Until some ones or mare of che events of default shall have
<br />happened, [he Mortgagor shall be suffered and permitted to retain actual possession
<br />of the :iortgaged Property, and to manage, operate and use the same and any part
<br />thereof, with the rights and franchises appertaining thereto, and to collect,
<br />receive, take, use and enjoy the rents, revenues, issues, earnings, income, pro-
<br />ducts and profits thereof or therefrom, subject to che provisions of this :~Sortgage.
<br />SECTION 2. If the Mortgagor shall well and truly pay or cause to be paid
<br />the whale amount of the principal of sad interest on the notes at che time and in
<br />the manner therein provided, according td the true intent and meaning thereof, and
<br />shall aisd-pay or cause to be pail all other sums payable hereunder by the Kortgagor
<br />and shall we12 and truly keep and perform according to the true intent and meaning
<br />of this Mortgage, all covenants herein required to be kept and performed 6y it,
<br />then and in that-case, all graperty, rights and interests hereby conveyed or
<br />assigned or pledged shall revert to the Mortgagor and the estate, right, title and
<br />interest of the Mortgagees and the noteholders shall tharenpon cease, determines and
<br />lrac~a void anal che Mortgagees and the aoteholdera, in such case, an written demand
<br />of the ~4artgagor but at Cha Mortgagor's cost and expense, shall antes satisfaction
<br />of this 3°~rtgaga upon the retoz~. In any event, each noteholder, upon payment in
<br />full to hie. by the Mnrtgegdr df all grittcipal of and interest an any Hate he id by
<br />hfm and the pay,~tnt and disoherga by the Mortgagor of all charges due to such note-
<br />hdidex f:exaiaadfr, shall execute and dalivar td the Mortgagor such instrument c;.
<br />satisfaction, diseharga ar releases as shall be zequirad by law in the circumstances.
<br />- 11 .,
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