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foreclose this Mortgage by action or advertisement, pursuant to the statutes of <br /> the State of Minnesota in such case made and provided, power being expressly <br /> granted to sell the Mortgaged Property at public auction and convey the same <br /> to the purchaser in fee simple and to apply the proceeds arising from such sale, <br /> first, as provided in the Indenture, to the payment of the indebtedness secured <br /> thereby and hereby, including all reasonable expenses, liabilities and advances <br /> of the Trustee and the Bonds and interest thereon and Loan Repayments <br /> relating thereto, and all legal costs and charges of such foreclosure, which <br /> costs, charges and fees the Mortgagor agrees to pay, and, second, to the <br /> payment of any obligations of the Mortgagor to the Mortgagee under the Loan <br /> Agreement, and, third, to return any surplus to the Mortgagor or such other <br /> person as may be entitled thereto. Such sale shall be made at public auction <br /> and at such place or places and at such time or times and upon such notice as <br /> the Trustee may be advised by counsel to be consistent with the laws <br /> applicable thereto, and upon such terms as the Trustee or the public officer <br /> conducting such sale may fix. Any such sale made pursuant to judicial <br /> proceedings or advertisement shall be made either as an entirety or in such <br /> parcels as may be directed by the court or as the Trustee in its sole discretion <br /> may determine. The Mortgagor, for itself and all persons and corporations <br /> hereafter claiming through or under it, does hereby expressly waive and release <br /> all right to have the properties and rights comprised in the Trust Estate <br /> marshaled upon any foreclosure or other enforcement hereof The Mortgagee <br /> or public officer conducting such sale from time to time may adjourn any such <br /> sale to be made by it by announcement at the time and place appointed for such <br /> sale or for such adjourned sale or sales, and without further notice or <br /> publication it may make such sale at the time to which the same shall be so <br /> adjourned, but in the event of such adjournment or adjournments, sale shall be <br /> made within any limitation of time or number of adjournments prescribed by <br /> law and, in any event, within six months from the date of sale fixed in the <br /> advertisement or court order, unless notice of sale on some later date shall be <br /> given again in the manner provided by law. <br /> (e) Upon any foreclosure sale, the owners of any Bonds outstanding, or <br /> the Mortgagee, may bid for and purchase the Trust Estate or any part thereof <br /> and upon compliance with the terms of sale may hold, retain and possess and <br /> dispose of such property in his, her, its or their own absolute right without <br /> further accountability, and any purchaser at any such sale may, in paying the <br /> purchase money, turn in any of such Bonds or claims for interest outstanding <br /> hereunder in lieu of cash to the amount which shall, upon distribution of the <br /> net proceeds of such sale, be payable thereon. <br /> (f) Upon the completion of any sale or sales made under or by virtue of <br /> this Mortgage and the Indenture, the Mortgagee shall execute and deliver, or <br /> cause to be executed and delivered, to the accepted purchaser or purchasers the <br /> property sold with good and sufficient transfers, assigning and transferring all <br />