148 TIMBER BONDS 



or coupons in full, then proper endorsement 

 shall be made thereon of the amount so paid 

 and they shall then be returned to the holders. 



ARTICLE XXI. 



Upon any foreclosure sale of property here- 

 by mortgaged the property shall be sold either 

 as a whole or in parcels at the option of the 

 Trustees conducting the foreclosure proceed- 

 ings; and if in parcels the same shall be di- 

 vided as shall be considered for the best inter- 

 ests of the bondholders by the said Lyon, Gary 

 & Company, as may be evidenced in writing ad- 

 dressed to the Trustees or to the Court; or in 

 case of such foreclosure sale the property may 

 at the option of the Trustees be offered first 

 by parcels designated as above, and then as a 

 whole, that offer producing the highest price for 

 the entire property to prevail — any law statu- 

 tory or otherwise to the contrary notwithstand- 

 ing. And the Grantors herein hereby expressly 

 waive the right to require any such sale to be 

 made by the acre, or in parcels, or the right to 

 select such parcels. 



In case any foreclosure sale of the premises 

 hereby mortgaged should fail to realize suffi- 

 cient funds for the payment in full of the en- 

 tire debt hereby secured, including all author- 

 ized expenses, court costs, attorneys' fees, et 

 cetera, the balance remaining unpaid shall be 

 and remain a valid, subsisting and enforceable 



