This excerpt taken from the GCFB 8-K filed Apr 3, 2009.
Section 2.03. Right to Foreclose. If an Event of Default shall occur and upon the giving of notice to the Mortgagor as provided in the Loan Agreement and in Sections 2.01 and 2.02 above, the Mortgagee may, either with or without entry or taking possession, proceed by
suit or suits at law or in equity or by any other appropriate proceedings or remedy to enforce payment of the indebtedness secured hereby or the performance of any other term hereof or any other right and the Mortgagor hereby grants the Mortgagee the power to institute a proceeding or proceedings, judicial or otherwise, for the complete foreclosure of this Mortgage under any applicable provision of law, and out of the proceeds arising from sale and foreclosure to retain the principal and interest due on the Loan Agreement and the other indebtedness secured hereby together with all such sums of money as the Mortgagee shall have expended or advanced pursuant to this Mortgage or pursuant to statute together with interest thereon at the rate of interest provided for in the obligation being foreclosed upon, and all costs and expenses of such foreclosure, including lawful attorneys fees, with the balance, if any, to be paid to the persons entitled thereto by law. In any such proceeding the Mortgagee may apply all or any portion of the indebtedness secured hereby to any bid at a sheriffs sale conducted hereunder.