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ARTICLE XVI
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Ap,~lication of Proceeds. The proceeds of any ;
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sale of the Properties or any of thera or any interest therein, ~
whether pursuant to foreclosure or power of sale or otherwise
shall be applied to pay: ~
First: The costs and expenses of the sale, .
reason e attorneys' fees and expenses, the Trustees
- fees and expenses, court costs, and any other expenses
or advances made or incurred in the protection of the
rights of the Trustees and the Beneficiaries or in the
pursuance of any of their remedies hereunder or under
the Individual Mortgages;
Second: The payment of any lien prior to the
security est of this Indenture which the Trustees
; may consider it necessary or desirable to discharge;
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~ Third: Any indebtedness secured by this
~ Indenture and at the time due and payable (whether by
~ acceleration or otherwise), including all amounts of
~ principal, prer.~iun, if any, and interest at the tiime ,
due and payable on the Notes, and interest at the i
~ rate of 9$ per annum on any overdue principal, premium j
and (to the extent permitted by applicable law) interest; ~
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~ Fourth: The balance, if any, to the persons then ~
~ ~ntitle ereto. ~
~ If the ptoceeds available for application pursuant to para- ~
~ graph Third are insutficient to pay the tJotes in full, the ~
~ amount available shall be allocated in partial prepaynent A
~ of the Notes in proportion, as nearly as practicable, to the
~ respective original principal amountsCO~eensateWfor anyuprior
r.ients, to the extent practicable, to p
~:r ' prepayments not made exactly in such proportion. In making
~ such allocation, all partial assignments of a Note, together s
- with the retained interest therein, shall, in the aggregate,
~`a be deemed to be in the principal amount of the original Note.
~ ARTICLE XVII ~
17. Direction of I:emedies b the Beneficiaries.
r~ . Subject to the provisions o Sections 8. an two-
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g.r:, s~~ 2~6 ~34
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