The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1910-06-14

tributive value, to be cancelled or
credited. any OF the outstanding Re-
ceiver's Certificates heretofore issued
under DEGREES entered in the said
suits. or any bonds or coupons payable
out of the proceeds of the sale upon
distribution thereof, namely. any
bonds or coupons secured by any OF
the mortgages foreclosed by said de-
crees. to-wit:
The mortgage of the Cincinnati.
Richmond & Muncie Railroad. dated
October LIST, 1900
The mortgage of the Chicago & Gin.
cinnati Railroad. dated February End.
1909.
The mortgage OF the Cincinnati &
Indiana Western Railroad Company,
dated June End. 1902.
The general and refunding mortgage
OF the Chicago. Cincinnati & Louis
vile Railroad Company. dated July 1.
1908
The purchaser will be credited on
account of the purchase price for the
Receivers Certificates, bonds and
coupons so turned in. with such sums
as would be payable on such Receiv.
ers Certificates. bonds and coupons
out of the purchase price If the whole
amount of the purchase price had
been paid in cash
D. The purchaser shall, as part OF
the consideration and purchase price
OF the property purchased and in ad-
dition to the amount OF his bid. take
the property sold and receive deed.
or deeds. therefor upon the express
condition that he will pay. satisfy and
discharge:
l. All unpaid Indebtedness or OBJ
legations legally contracted or incur
red by the Receiver in the operation
or on account of the property sold at
any time prior to the discharge of
such Receiver. This Indebtedness
does not include Receivers Certifi-
Gates which under said DEGREES are
payable from the proceeds OF the sale.
2. All unpaid indebtedness and La
bilities contracted or incurred by the
defendant, The Chicago. Cincinnati &
Louisville Railroad Company. prior to
the appointment OF the Receiver with
respect to which a petition of inter-
vention or proof OF claim has hereto
fore been filed in any of said suits.
and which the Court shall adjudge to
be entitled to payment prior to the
bonds secured by any of the mortgages
above mentioned.
The purchaser at the sale shall also
take the property sold subject to the
performance by him. or his successors
or assigns, of all pending contracts
heretofore lawfully made by the said
Receiver. It Is provided in said de-
| crees that the purchaser shall not be
personally liable to pay the before
mentioned Indebtedness and liabilities
of the Receiver and of The Chicago.
Cincinnati and Louisville Railroad
Company. but the same are enforce
able only against the property sold
which the Court reserves the right to
retake and resell for that purpose
Provision is made In the said DEGREES
whereby the purchaser has the right.
In the manner therein stated. to con-
| test any such Indebtedness and liabil-
| ity SO payable by the purchaser.
The purchaser shall have ninety
days from the date of confirmation of
| sale In which to elect whether or not
to adopt and continue in force. or to
refuse to adopt, any lease, traffic.
| trackage or operating agreement, or
| other executory contract which may
be included in the property sold, or
| which may constitute an incident or
appurtenance thereof and neither
such purchaser. his successors or as
signs shall be deemed to have az
sumed or adopted any OF said con-
| tracts which he or they shall not elect
to accept or assume.
Upon payment of the purchase price
| bid by the purchaser or upon making
| such provision therefor as the Court
| shall approve, and upon confirmation
| of the sale the Special Master will
| execute and deliver to such purchaser
or his assigns proper instrument
or instruments of conveyance, assign
ment and transfer of the property
sold under said DEGREES. and upon the
execution and delivery OF said instru.
ment or instruments. the grantee or
grantees therein shall be let into
| possession of the property conveyed.
assigned and transferred, and the Re-
ceiver shall deliver all the premises
| and property sold which may be in
his possession or under his control
over to the purchaser, his successors
and assigns. The said DEGREES further
provide that all earnings and income
derived by said Receiver from the OPP
Grafton or On account of the property
sold, remaining in his hands at the
date of the delivery OF the property to
the purchaser. or shall come into the
| hands of such Receiver prior to his
discharge. shall be turned over to the
purchaser on demand. or at his cleo
ton shall be retained by the Receiver
and applied by him subject to the d.
rection of the Court to the payment OF
the Indebtedness and obligations of
the Receiver which the purchaser is
required to pay in addition to his bid
After such delivery OF the premises.
the purchaser and his successors or
assigns shall hold. possess and enjoy
the same and all rights. privileges, i'm
munities and franchises appertaining
therein as fully and com n1efply as the