306 TIMBER BONDS 



the holders of ten (10) per centum in interest 

 of the bonds and coupons then outstanding, 

 and upon being indemnified to their satisfac- 

 tion for any expenses and liabilities which they 

 may incur, shall, as the agents and attorneys 

 in fact of the Company, enter into and take 

 full possession of the lands and all other prop- 

 erty hereby mortgaged (except such as may 

 have been "theretofore released under the pro- 

 visions of this instrument) and hold, use, man- 

 age, maintain and operate the same ; collect and 

 receive all moneys and revenues arising from 

 such management and operation, 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 at the rate of six per cent per annum 

 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 shall be made 

 in full, the Trustees after making such pro- 

 vision as they may deem advisable for the next 

 semiannual installment of interest and prin- 

 cipal, sliall restore to the Company the pos- 



