Arizona republican., 1906-03-22

pany in the City of New York. or twenty-five thousand dollars (S25.Ooel face value of the bonds secured by said first mortgage or deed of trust Of Jan uary l, 1899. of said defendant Arizona Water company to the complainant He will accept no bid for the property hereinabove fully described and des- ignated in the aforesaid decrees as Parcel Four so to be offered for sale from any bidder for a sum less than ten thousand dollars CS1O.0OO), or from any bidder who shall not place in his hands and deposit with him. at the time of making his bid. the sum of five thousand dollars (S5.OOO) in money or certified check upon any national bank or upon any trust company of the City of New York or ten thousand dol lars (S1O000) face value of the bonds secured by said first mOrtgag or deed of trust of January 1.1Ss9. of said de- fendant Arizona Water company to the complainant as aforesaid. The certifi- cate of any trust company in the city of New York. including the complain
 ant in this suit. that it holds bonds as therein described secured by said first mortgage or deed Of trust Of Jan
 uary, l, 1899. subject to the order of tho party named and transferred to the special master will be received by the special master and accepted in lieu of the bonds specified in said certificate as a deposit at the time of sale and on account of the payment of the pur- chase price of the bid. with like force
 and effect as though the bonds therein named had been delivered to the spec l ial master.
 Of the price for which said property.
 etc, above described as Parcel Two
 shall be sold. there shall be paid in cash at the time of sale the said sum
 of twenty-five thousand dollars | (S25. .OOO) which shall be received as part of the purchase price or there
 shall be deposited with the special master as above stated fifty thousand dollars (S50, ,OOO) par or face value of the l bonds secured by the said first mort
 gage or deed of trust. of January I.
 1899. of said Arizona Water company to Complainant.
 Of the price for which the said prop | erty. etc. above described as Parcel Three" shall be sold. there shall he
 paid in cash. at the time of the sale.
 the said sum of ten thousand dollars | CS10.OOO which shall be received as part
 of the purchase price or there shall be deposited with the special master as above stated twenty-five thousand
 dollars (S25. .OOO) par or face value or l the bonds described by said first mort gage or deed of trust. of January ..
 1899. of said Arizona Water company, | to complainant
 Of the price for which the property. | etc. above described as Parcel Four
 shall be sold. there shall be paid in ] cash at the time of said sale the said | sum of five thousand dollars CS5.0e0}
 which shall be received as part Of the | purchase price or there shall be depos- i ited with the special master as above | stated ten thousand dollars (SI0.000l | par or face value of the bonds secured | by said first mort gage or deed of trust | of January l, 1899, of said Arizona | Water company to complainant The | balance of the purchase price of the ! aforesaid properties fully above de- | scribed as Parcels Two. Three. and | Four not required to be paid in cash at the time of the bid may be paid
 in cash or the purchaser may satisfy i and make good the balance of his bii
 in whole or in part by turning in. to be | canceled or credited as hereinafter i provided, outstanding bonds and over 1 due coupons appeTtaining thereto se- ! cured by said first mortgage or deed | of trust, of January l. 1899. of the de | fendant Arizona Water company to ! the complainant. said bonds and cou- | pons being received at such price or
 value as shall be equivalent to the
 
 | thereof would be entitled to receive ! thereon in case the entire purchase
 price was paid in cash All such bonds | and coupons as may be used to meet ' any such payment snail be surrender ed to the Special Master and cancelled ' if the whole amount due thereon is | applied to the purchase price. but 1T | less than the whole amount be so ap- | piled then the amount So applied shall ! be stamped or written upon suca bonds and coupons which shall then | be returned to the bidder
 If any bid shall be accepted by the | court and the person making the same
 shall fail to comply with all the con | ditions of sale and all orders of the
 said court in respect thereto. tl.e sum deposited by the holder shall be for feited and shall be applied as the said ! court may direct
 The said court has reserved the | right to reject any bid and to resell | the said property or properties upon | the failure of any purchaser within | five days to comply with any order
 of the said court regarding payment
 The said decree provides that the | purchaser or purchasers of said prop ierty or properties above fully
 described therein decreed to be Isold. shall be invested with l and shall hold, possess and enjoy the ! same and all rights and privileges and | functions appertaining thereto full | ly and completely as the Arizona Wa | ter company held and enjoyed tne same at the time of the entry of such | decree or heretofore held and enjoyed l the same respectively.
 That the said purchaser or pur- 1 chasers shall be entitled to hold the | aforesaid properties, rights. etc, fully | described above as Parcels Two. | Three and Four so sold, freed and dis | charged of and from the liens of the
 said indentures of the Arizona Wa | ter company to the New York Securi- | ty & Trust company. dated January I.