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84005448
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1984
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84005448
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Last modified
11/20/2008 9:56:08 PM
Creation date
11/20/2008 9:56:05 PM
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DEEDS
Inst Number
84005448
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<br />84- 005448 <br /> <br />shall have beeI' discontinued or abandoned because of waiver or <br />for any other reason, or shall have been determined adv8rsely, or <br />set aside or declared invalid, then, and in each and every such <br />case, the Issuer and the Bondholder shall severally. ahd <br />respectively be restored to their former position. and rights <br />hereunder in respect of the Mortgaged Property, and. all rights, <br />remedies and powers of the Issuer and the Bondholde:rsb:all <br />continue as though no such proceedings had been taken. <br /> <br />Section 5.04 <br /> <br />Appointment of Receiver. <br /> <br /> <br />After the happening of any Event of Default and during <br />its continuation, or upon the commencement of any proceedings to <br />exercise the power of sale herein granted or to foreclose this <br />Mortgage or to enforce the specific performance here.of or in aid <br />thereof or upon the commencement of any other judicial proceeding <br />to enforce any right of the Bondholder, the Bondholder shall be <br />entitled, as a matter of right, if it shall so elect in its <br />absolute discretion, without the giving of notice to any other <br />party and without regard to the solvency of any person or the <br />adequacy or inadequacy of any security for the indebtedness, <br />forthwith either before or after declaring the unpaid principal <br />of the Bond to be due and payable, to the appointment of a <br />receiver or receivers, to the extent permitted by law, and the <br />Bondholder may be appointed as .', ch receiver. Such receiver <br />shall have full power to coLl,-' the ren;.;s, revenues, issues, <br />income alld profits fl..0m the i,.",rtgaged Property and all other <br />powers necessary or incidental for the protection, possession, <br />control, management and operation of the Mortgaged Property. <br />Such receiver shall also have full power and authority, at the <br />expense of the Mortgaged Property, to maintain, r~store and keep <br />insured the Mortgage Property and to pay all rents, taxes, <br />assessments and other charges arising in connection therewith. <br /> <br />Section 5.05 <br /> <br />Proceeds of Sale. <br /> <br />In any suit to foreclose the lien of this Mortgage, <br />there shall be allowed and included in the decree for sale, to be <br />paid out of the rents or the proceeds of such sale: <br /> <br />(a) All principal, premium, if any, and interest <br />remaining unpaid on the Bond and secured hereby, \.,i th interest <br />thereon from the date due until paid; <br /> <br />(b) All other items advanced or paid by the Bondholder <br />pursuant to this Mortgage with interest thereon at the Default <br />Rate from the date due until paid; and <br /> <br />(c) All court costs, attorneys' fees, receivers' fees <br />and receivership expenses, appraiser's fees, expenditures for <br />documentary and expert evidence, stenographer's charges, <br />publication costs and costs (which may be estimated as to items <br />to be expended after entry of the decree) of procuring all <br />abstracts of title, title searches and examinations, title <br /> <br />-22- <br /> <br />L <br /> <br />L <br /> <br />L <br /> <br />L <br />
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