the residue or net proceeds and avails of such sales
and collections the said party of the second part shall
First Pay and discharge in full the several and respective debts
of the party of the first part due and owing to the
firms and Individuals creditors herein before particular
ly named designated and specified and in the order in
which they are so named specified and designated
in the Schedule hereto annexed and marked schedule
"A" Together with all interests moneys due or to grow
due thereon and if the said net proceeds and avails
are not to pay and discharge the same in full there
such net proceeds and avails shall be distributed pro
rata share and shall alike among among the said
firms and Individual Creditors in said Schedule A
specified named and designated according to the
amount of their respective claims and
Second By and with the residue and remainder of said
net proceeds and avails if any there shall be the said
party of the second part shall pay and discharge all
of the other debts demands and liabilities whatsoever
now existing whether due or hereafter to become
due provided such remainder shall be sufficient for
that purpose: and if insufficient then the same
shall be applied pro rata share and share alike
to the payment of said debts demands and liabilit
ies according to their respective amounts provided that
said creditors in case of said insufficiency shall and
will agree that upon the receipt by them or the
tender to them by the party of the second part of
their said pro rata share aforesaid they will give
to the party of the second part for and on behalf
of the party of the First part a receipt in full satis
faction and discharge of their claim demand
and debt due and owing to them by the party
of the first part and if any of said creditors shall
refuse to give said receipt aforesaid then his or
her claim shall not be paid
Lastly The said party of the second part shall return
the surplus if any there shall be of said net pro
ceeds and avails to the said party of the first
part or to his heirs executors administrators or assigns
and for the better execution of these Presents and
of the several tracts hereby reposed the party of
the First part does hereby make nominate and
appoint the said party of the second part and
his heirs executors and administrators his true and
lawful attorney irrevocable with full power and
authority to do transact and perform all acts deeds |