144 TIMBER BONDS 



fault be made in the payment of taxes, as is 

 herein provided, and such default shall contin- 

 ue for the period of sixty days, the Trustees 

 may, and upon the request in writing of the 

 holders of ten (10) per centum in interest (but 

 not less than $25,000.00) of the bonds and cou- 

 pons then outstanding, and upon being indem- 

 nified to their satisfaction for any expenses 

 and liabilities which they may incur, shall, as 

 the agents and attorneys in fact of the Grant- 

 ors herein enter into and take full possession 

 of the lands and all other property hereby 

 mortgaged (except such as may have been 

 theretofore released under the provisions of 

 this instrument) and hold, use, manage, main- 

 tain and operate the same; collect and receive 

 all moneys and revenues arising from such 

 management and operations, and apply the 

 same, first to the expenses of such operation, 

 including reasonable compensation for their 

 own services and for the services of their coun- 

 sel, attorneys, agents and servants; second, to 

 the maintenance, management and operation of 

 the property, including the payment of taxes, 

 assessments and other governmental charges, 

 and third, to the payment pro rata of any 

 amount, principal or interest, that may be due 

 and in default upon said bonds, together with 

 interest on overdue installments of interest, 

 but not to the payment of any bond or coupon 

 the time for payment of which may have been 

 extended. In case all of the said payments 



