252 TIMBER BONDS 



Second, to the payment pro rata of all the 

 bonds and interest coupons secured hereby 

 without preference of bonds over coupons or 

 coupons over bonds, subject, however, to the 

 provisions of Article V hereof; but only cou- 

 pons that have matured and the earned por- 

 tion of those next maturing shall be entitled 

 to participate in such proceeds ; and, 



Third, the balance, if any there be, shall be 

 paid to the Company or its order. 



In case any foreclosure sale of the premises 

 hereby mortgaged should fail to realize suf- 

 ficient funds for the pajTuent in full of the 

 entire debt hereby secured, including all au- 

 thorized expenses, court costs, attorneys' fees, 

 et cetera, the balance remaining unpaid shall 

 be and remain a valid, subsisting and enforcea- 

 ble obligation of and against the Company, and 

 a deficiency judgment against the Company 

 may be taken thereon, and the Court may di- 

 rect in the decree of foreclosure of this mort- 

 gage ihsti any balance which may remain un- 

 satisfied after the sale of the mortgaged prem- 

 ises, and the application of the proceeds of said 

 sale toward the payment of the mortgage in- 

 debtedness, together with costs and interest, 

 shall be satisfied from any other property of 

 the Company. 



In case the proceeds of foreclosure sale of 

 the premises hereby mortgaged should be in- 

 sufficient to satisfy in full the mortgage debt 

 hereby secured and then existing, together 



