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' 1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />lE:2 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />15492614.1 <br />agreement shall include the written agreement of the purchaser to be <br />bound by the same. In selling the Property, the Receiver will be <br />deemed to have complied with Code of Civil Procedure, Sections <br />568.5 and 701.540 provided that: (i) within fifteen (15) days after the <br />execution of a purchase agreement for the Property, the Receiver <br />gives written notice to borrower and all of the parties that have <br />appeared in the action of (a) the terms of the proposed sale, (b) the <br />specific property to be sold, and (c) the proposed sale price of the <br />Property, and (ii) no party objects within seven (7) days of the <br />mailing of the notice. Upon the sale of Receivership Property, the <br />Receiver shall disburse, or if appropriate, instruct escrow to distribute <br />all net funds resulting from said sale(s) as follows: <br />(i) First to the payment of all fees and expenses incurred <br />by the Re eiver and its professionals in managing the <br />Receivers p Estate; <br />(ii) Second to the expenses of administering the <br />receivership; <br />(iii) Third to the payment of any taxes which if not paid <br />would form the basis for a lien on the Receivership <br />Estate; and <br />(iv) The remai6der to be held by the Receiver until further) <br />i, <br />order of this Court in an interest bearing segregated <br />account (es tablished by the Receiver) with all liens <br />attaching to those funds in the priority in which they <br />are entitled to be paid. However, the Receiver, at any <br />time, may ;se these segregated funds to pay any taxes, <br />C <br />fines, fees or other governmental agency costs or <br />Order <br />