Mortgage and shall be immediately due and payable and, until paid, shall bear interest at the Expended Funds Rate plus two percent (2%). (c) The Mortgagor irrevocably authorizes the Mortgagee or its appointee (with full power of substitution) to appear in the name of the Mortgagor in any court of any country or nation of the world where a suit is pending against the whole or any part of the Collateral because of, or on account of, any alleged Lien or claim against the whole or any part of the Collateral, from which the whole or said part of the Collateral has not been released. The Mortgagee shall not be obligated to (nor be liable for the failure to) take any action provided for in Subsections (a) and (b) of this Section.

SECTION 5.08. Additional Debts of Mortgagor to Mortgagee. (a) If the Mortgagor shall fail to perform any covenant, condition or agreement set forth in any of the Transaction Documents, the Mortgagee may, in its discretion, at any time during the continuance of an event which by itself, with the passage of time, or the giving of notice, would constitute a Default, perform all acts and make all necessary expenditures to remedy such failure. Notwithstanding the foregoing, the Mortgagee shall not be obligated to (and shall not be liable for the failure to) perform such acts and make such expenditures. All funds advanced and expenses and damages incurred by the Mortgagee relating to such compliance shall constitute a debt due from the Mortgagor to the Mortgagee and shall be secured hereunder prior to the Administrator’s Note and shall be repaid by the Mortgagor upon demand, together with interest at the Expended Funds Rate plus two percent (2%).

(b) (1) All funds advanced and expenses incurred by the Mortgagee pursuant to Subsection (a) of this Section, the Agreement and the Transaction Documents; (2) all other expenses incurred incident to the exercise by the Mortgagee of any rights and remedies pursuant to this Article or any other provisions of this Mortgage, the Agreement, the other Transaction Documents and the Note Purchase Documents or in connection with the assumption by the Mortgagee of the rights and duties of the Mortgagor under the Note Purchase Agreement and the Note; and (3) all payments made to the Holder as a result of the default of the Mortgagor under Chapter 537 (including, but not limited to, fees paid to the Holder for expenses incident to the assumption of the Note Purchase Agreement by the Mortgagee), shall constitute a debt due from the Mortgagor to the Mortgagee and shall also be secured hereunder and the other Transaction Documents prior to the Administrator’s Note and shall be repaid by the Mortgagor upon demand together with interest at the Expended Funds Rate plus two percent (2%). All payments required to be made by the Mortgagor under the Transaction Documents shall be made by wire transfer in immediately available funds in accordance with payment instructions provided by the Mortgagee.

SECTION 5.09. Authority of United States. The Mortgagor agrees, acknowledges and consents to take all steps, measures or actions which are within the discretion or authority of the Mortgagee.

SECTION 5.10. Consent to Jurisdiction for Foreclosure of Mortgage. The Mortgagor hereby expressly and irrevocably consents to the jurisdiction of the United States District Court where the Vessel is to be surrendered by the Mortgagor at the direction of the Mortgagee pursuant to Section 5.02 hereof or, absent such direction by the Mortgagee, to the jurisdiction of any court in any country whatsoever having jurisdiction over any Vessel for the foreclosure of this Mortgage, the sale of the Vessel, or the enforcement of any other remedy or right hereunder, and hereby

First Preferred [Fleet/Ship] Mortgage, Contract No. MA-\_\_\_\_\_\_ Page 24