10-25-01 3. MORTGAGE - Laserfiche WebLink

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of the Land, Buildings, and Equipment upon any such Event of Default) and to sue for and recover any account or other item of Revenues and Income from the Mortgagor or any account debtor or other third person. Subject to any order of a court appointing a receiver or otherwise having jurisdiction of the Trust Estate, the Mortgagee in its discretion may apply the Revenues and Income received by it as provided in Minnesota Statutes,Section 576.01,subdivision 2,as follows:(i)to the application oftenant security deposits as required by Minnesota Statutes,Section 504.20,(ii)to the payment when due of prior or current real estate taxes or special assessments with respect to the mortgaged premises,or the periodic escrow for the payment of the taxes or special assessments,(iii) to the payment when due of premiums for insurance of the types required by the Loan Agreement or this Mortgage, or the periodic escrow for the payment of the premiums, (iv) to the just and reasonable compensation of the Mortgagee for its own services and for the services of counsel, agents and employees by it properly engaged and employed, (v)to the reimbursement of advances made by the Mortgagee pursuant to the provisions of the Loan Agreement or this Mortgage,(vi)to the payment of the indebtedness secured hereby, (vii) to the expenses of operating the Mortgaged Property and conducting the business thereof,and(viii)to the repair,maintenance,renewal,replacement or alteration of the Mortgaged Property. (d) The Mortgagee may(and is hereby authorized and empowered to) foreclose this Mortgage by action or advertisement, pursuant to the statutes of the State of Minnesota in such case made and provided, power being expressly granted to sell the Mortgaged Property at public auction and convey the same to the purchaser in fee simple and to apply the proceeds arising from such sale,first,as provided in the Indenture,to the payment of the indebtedness secured thereby and hereby, including all reasonable expenses, liabilities and advances of the Trustee and the Bonds and interest thereon and Loan Repayments relating thereto, and all legal costs and charges of such foreclosure, which costs, charges and fees the Mortgagor agrees topay, and second,to the payment of any obligations of the Mortgagor to the Mortgagee under the Loan Agreement, and, third, to return any surplus to the Mortgagor or such other person as may be entitled thereto. Such sale shall be made at public auction and at such place or places and at such time or times and upon such notice as the Trustee may be advised by counsel to be consistent with the laws applicable thereto, and upon such terms as the Trustee or the public officer conducting such sale may fix. Any such sale made pursuant to judicial proceedings or advertisement shall be made either as an entirety or in such parcels as may be directed by the court or as the Trustee in its sole discretion may determine. The Mortgagor,for itself and all persons and corporations hereafter claiming through or under it, does hereby expressly waive and release all right to have the properties and rights comprised in the Trust Estate marshaled upon any foreclosure or other enforcement hereof. The Mortgagee or public officer conducting such sale from time to time may adjourn any such sale to be made by it by announcement at the time and place appointed for such sale or for such adjourned sale or sales,and without further notice or publication 6