(a) to take such action as may be necessary or proper to sequester the rents and income of the property;

(b) to procure from the owner of the property an assignment of rents and/or a consent to enter into possession of the property and to collect the rents therefrom;

(c) to apply to the court for the appointment of a receiver of the rents and income of the property;

(d) to declare due and payable forthwith any principal amount remaining due and unpaid and commence an action of foreclosure;

(e) to apply the moneys received as rents and income from the property as well as moneys received by the trustee from any receiver appointed for such property in his discretion, to the maintenance and operation of such property, the payment of taxes, water rents and assessments levied thereon and any arrears thereof, to the payment of underlying liens, and to the creation and maintenance of a reserve or sinking fund. 3. If the trustee can obtain the information without unreasonable effort or expense, to render annually to bondholders, after the occurrence of a default, unless such default be previously cured, a summarized statement of income and expenditures in connection with the property. 4. To distribute the proceeds of any sale or other disposition of the property ratably among the bondholders, subject to applicable mandatory provisions of law. 5. To permit the obligor or other person in possession or control of the property, or his successors in interest, to be free to select the insurance broker or agent through whom any insurance of any kind is to be placed or written on any property affected or covered by a mortgage held by such trustee.