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being of the essence of this Mortgage; and Mortgagee shall have
the rights and remedies set forth elsewhere in this,Mortgage and =
such other rights and remedies as are provided in other documents ~
securing the Secured Indebtedness or provided at law or in `
equity. _
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2.03 Power of Enforcement. If an Event of Default shall
have occurred, Mortgagee may, either with or without entry or
taking possession as hereinabove provided or otherwise, proceed
by suit or suits at law or in equity or by any other appropriate ;
proceeding or remedy: (a) to enforce paym~nt of the Secured
Indebtedness or the performance of any term hereof or any other _
right; (b) to foreclose this Mortgage and to sell, in its =
entirety or in separate lots or parcels, the Mortgaged Property, ;
under the judgment or decree of a court or courts of competent
jurisdiction; and (c) to pursve any other remedy available to it. ~
Mortgagee shall take action either.by such proceedings or by the
exercise of its powers with respect to entry or taking
possession, or both, as Mortgagee may determine. =
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2.04 Proceeds of Foreclosure. In the event the Mortgaged
Property or any portien thereof shall be sold in foreclosure '
proceedings or other proceedings ~that may be authorized by law,
the proceeds of such sale shall be applied as follows: first, to ~
the payment of all expenses incurred hereunder, including ~
reasonable attorney's fees, as may be necessary for the ~
collection of the Securec3 Indebtedness or any part there~f and 3
the foreclosure of this Mortgage; second, to the payment, with
interest as provided herein, of whatever sum or sums Mortgagee ;
may have paid or become liable to pay in carrying out the ~
objects, terms and stipulations of this Mortgage, including ~
specifically, without limitation, sums paid for taxes and ~
insurance; third, to the payment and satisfaction of the Secured ~
Indebtedness (first to the outstanding Bond Indebtedness, if any, -
and then to the Letter of Credit Indebtedness); and the balance,
if any, being payable to Mortgagor or to such other person or
entity~who shall by law be entitled to such balance. ~
2.05 Leases. Mortgagee, at its option, is authorized to ~
foreclose this Mortgage, subject to the rights of any tenants of ~
the Mortgaged Property, and th~ faiiure to make any such tenants
parties defendant to any such foreclosure proceedings and to
foreclose their rights will nct be, nor be asserted by Mortgagor
to be, a defense to any proceedings instituted by Mortgagee to
! collect the Secured Indebtedness or to collect any deficiency
remaining unpaid after the foreclosure sale of the Mortgaged
_ Property,
2.06 Purchase by Mortqaqee. Upon any such foreclosure
sale, Mort4agee tor either Trustee or Bank1 may bid for and
purchase the Mortgaged Property and, upon compliance with the
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