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132777076v2 <br /> <br /> <br /> 13 <br /> <br />declaring the unpaid principal of the Note to be due and payable, to the appointment of a receiver <br />or receivers. <br />Section 3.5 Proceeds. The purchase money proceeds and avails of any sale of the <br />Mortgaged Property or any part thereof, and the proceeds and avails of any other remedy <br />hereunder, shall be paid to and applied as follows: <br />(1) First, to the payment of costs and expenses of foreclosure and of such sale and of <br />all proper expenses (including maximum attorney’s fees permitted by law), liability and <br />advances incurred or made hereunder by the Mortgagee, and of all taxes, assessments or liens <br />superior to the lien of this Mortgage. <br />(2) Second, to the payment to the Mortgagee of the amount then owing or unpaid <br />under the Note and this Mortgage for principal, interest and any premium and in case any such <br />proceeds shall be insufficient to pay the whole amount so due, then first to final payments of <br />principal and then to the payment of interest thereon; and <br />(3) Third, to the payment of any excess to the Mortgagor, its successors and assigns, <br />or to whomsoever may be lawfully entitled to receive the same. <br />Section 3.6 Proceedings Discontinued. In case the Mortgagee shall have proceeded to <br />enforce any right under this Mortgage by foreclosure, sale, entry or otherwise, and such <br />proceedings shall have been discontinued or abandoned for any reason or shall have been <br />determined adversely, then and in every such case the Mortgagor and Mortgagee shall be <br />restored to their former positions and rights hereunder with respect to the property subject to the <br />lien hereof.