310 TIMBER BONDS 



either as a whole or in parcels at the option 

 of the Trustees conducting the foreclosure pro- 

 ceedings; and if in parcels the same shall be 

 divided as shall be considered for the best in- 

 terests of the bondholders by the said Lyon, 

 Gary & Company, as may be evidenced in writ- 

 ing addressed 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 statutory or otherwise to the contrary not- 

 withstanding. And the Company hereby ex- 

 pressly waives 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 

 obligation of and against the Company, and a 

 deficiency judgment against the Company may 

 be taken thereon, and the Company hereby ir- 

 revocably consents that the Court may direct 

 in the decree of foreclosure of this mortgage 

 that any balance which may remain unsatisfied 

 after the sale of the mortgaged premises, and 

 the application of the proceeds of said sale to- 



