250 TIMBER BONDS 



Trustees as herein provided, or which shall af- 

 fect or change the time, place, means or mode 

 of perfecting or enforcing such rights or rem- 

 edies and it hereby expressly waives all bene- 

 fit and advantage of any and all such laws. 



AETICLE XVIII. 



Upon any foreclosure sale of the property 

 hereby mortgaged, or any part thereof, the 

 purchaser, in making payment therefor, shall 

 be entitled, after paying in cash so much as 

 shall be necessary to cover the cost and ex- 

 penses of the sale and of the proceedings inci- 

 dent thereto, and all other charges that may be 

 decreed to be paid in cash, to appropriate and 

 use toward the payment of the remainder of 

 the purchase price any of the bonds or cou- 

 pons issued hereunder, and entitled to partici- 

 pate in the proceeds of such sale, reckoning 

 each bond or coupon so appropriated and used 

 at such sum as shall be payable thereon out of 

 the net proceeds of the sale; and proper re- 

 ceipts thereupon be given to the holders of such 

 bonds or coupons for the amount so payable 

 thereon, and the bonds and coupons, if the net 

 proceeds of the sale shall be sufficient to pay 

 them in full, shall be delivered up to the person 

 making the sale, whether under the decree of 

 the court or otherwise, for cancellation; or if 

 the proceeds of the sale shall not be sufficient 

 to pay such bonds or coupons in full, then prop- 

 er endorsement shall be made thereon of the 



