§ 125. Definitions. As used in this article, unless the context
requires otherwise:

1. "Mortgage investments" shall mean and include any and all shares
and interests, heretofore or hereafter acquired, in an issue of bonds,
notes or other evidence of indebtedness of individuals, partnerships,
associations or corporations, held by more than one person and secured
by a mortgage or mortgages upon real property, or by a deed or deeds of
trust, trust indenture or indentures or other evidence of interest in
real property, the payment of which is not guaranteed by any title and
mortgage guaranty corporation or investment company and shall include
certificates of deposit issued by or on behalf of a bondholders'
protective committee or similar group and also any bonds, notes or other
evidences of indebtedness taken in lieu of such real property by
foreclosure or otherwise, provided, however, that it shall not include
industrial securities. The term "industrial securities" shall be
construed to mean the bonds, debentures, notes or other evidences of
indebtedness of individuals, partnerships, associations or corporations
not engaged in the business of owning, improving or operating real
property but whose ownership of such real property shall be merely
incidental to the operation and conduct of its business and which real
property shall be used as incidental and additional security for such
bonds, notes, debentures or other evidences of indebtedness.

2. "Bondholder" shall mean and include any person, firm, association
or corporation owning or holding a mortgage investment.

3. "Trustee" shall mean and include any person, firm, association or
corporation named, appointed or designated as such in any deed of trust,
trust indenture or other similar instrument or any successor of such
trustee.

4. "Committee" shall mean and include a person or group of persons,
however known or designated, appointed by agreement, assignment, proxy,
consent, authorization, power of attorney, or other similar instrument
to act as an agency to receive and hold mortgage investments deposited
by bondholders and to administer or do any act in respect to the same
for the bondholders.

5. "Deposit agreement" shall include any agreement, assignment, proxy,
consent, authorization, power of attorney or other similar instrument
whereby a mortgage investment is deposited with or assigned to a
committee.

6. "Depositary" shall mean and include any person, firm, association
or corporation designated in any trust indenture, deed of trust, or
deposit agreement as the custodian or depositary of mortgage
investments.

7. "Property" shall mean and include all of the real property or any
incidental personal property constituting the underlying security for
mortgage investments.

8. "Court," unless some other court has jurisdiction over the property
or a plan of reorganization therefor, shall mean the supreme court of
the state of New York in the county in which the property or the major
portion thereof is located, or, if the property be located outside the
state, in the county of the state in which the committee, trustee or
other person dealing with the mortgage investment has or proposes to
have his principal office for the transaction of business with respect
to such mortgage investment.