ai | the the failure Bank « by the election (da) of any of the Notes issued under the Loan Agreeme < rt mo chavtell trust, of deed , mortgage any under dies the|reme gage or other instrument of hypotheocation securing: any of such or Notes, aor of anh aRonerty mortgage ox | (e) as or the realisation by as or notice of the the Bank may elect, at any publio on credit, or for future delivery ment ing on ahers the & or interests journme y mor Not of the & Oe or i ne t rumen > @ Wotes; the ed or or wor. siaa f; t G 1 t Pr ul & t é different security or pen bela of raga any 1 @ such pts therein, plated nes 36 AZY ne any e . ; i} of irrespective upon or private eale, for cash without demand, advertise- place on time to the Notes Bar such consent the of the same or suanniesered) the in of a whole part| thereof. holders. the or or any part of the chattel of trust, 1 or deed received any, if hange or release is substitution, character or value than the security any such of any of hypothecation, of security, Bank such' alection, mprteage, ‘auch instrument other or not the whether holders the of chang covered by any any make the by omission of or to Notes such (f£) bée ceant rn to belsalf be conse the modi the oc bruce (g) for plans completion Project; the of any the default by the Company | inder (bh) 0. of the Loan Agreement or of any of the pre ovisions other i or any gage or deed of trust or chattel nortgage wa Aver any s, or Note the of ring any tion seou heca ment of ypot "3 such of trust the by jief'ault o1 or any of them, Loan Agrsement MOF LSREe as: or holders any the of under trustee mortgage; chattel Bank,| ‘the Agreement, or Of contracting with or the any or the the of any default or any of unents of under any such mortgages, hypothecation the by issued Notes other person, firm Company or not) to A mortgag such any failure Compan: unde. e or corporation notify the Stockholders, such deeds or contract of trust, under said or the chattel No shall have any rights of None of the Stockholders recourse against the Bank or any holder of any of the Notes reason of any action taken or not taken as aforesaid. by Bach of the Stockholders hereby irrevocably waives notice of any default hereinabove referred to by the Company or by any person, firm or corporation with whom the Company has to the construction contracted or shall contract with respect of the Project (1) on any obligation of any of them under the Loan Agreement or in respect of any of the wot By de