East Oregonian : E.O. (Pendleton, OR) 1888-current, 1912-07-27

cept the same, said bidder shall make
good his bid by a deposit with the
Special Master of not less than a sum
of ten per cent thereof in cash, or by
certified check upon some bank or
banker in the city of Portland; that
the said bidder shall make his said
bid good, or said bidder may tender
as earnest and pledge to make his
said bid good a sum or amount in
value of the bonds secured by the said
mortgage or deed of trust of March /,
1906, not less than $4,000, and de-
posit the same with said Special Mas
ter or in the registry of the court
with the clerk thereof, taking his re-
ceipt therefor, and said receipt may
likewise be deposited in lieu of said
bonds with said Master, and the de-
post received from any such bidder
if the property shall be struck down
to him, shall be held and applied on
account of the purchase price thereof
for which the bid was made; but in
the case of any unsuccessful bidder
or one bidding to whom the property
is not struck down, and he has made
a deposit, the same shall be returned
to him when the property shall have
been sold, and if the court shall not
confirm the sale for which the depOs-
it shall have been made, then the de-
post shall be returned to the bidder,
and in case any bidder or purchaser
shall fail to make good his bid upon
its acceptance by the Special Mas
ter or in case after acceptance by the
Special Master said bidder or pur-
chaser shall fail to comply with any
order of the court relating to the pur-
chase of the property to be made in
the premises, then the sum in cash or
bonds deposited shall be forfeited as
a penalty for such failure and non
compliance and be applied toward the
expenses of a resale and for making
good any loss or deficiency in case of
a sale at less price than at the pri-
or sale. Any purchaser may satisfy
and make good any part of his bid
not required to be paid in cash. by
turning in to be cancelled or credited
any bonds or coupons payable out OF
the proceeds upon distribution there
of, and receive credit therefor on ac-
count of his bid with such sums as
would be payable on said bonds and
coupons on the purchase price If the
whole amount thereof had been paid
in cash, and receipt from the clerk
OF tne court lldt ne HpluS JULIUS &C
therein described subject to the or
der OF the party in the receipt named
shall be by the Special Master accept
ed and received in lieu of the bonds
as deposit at the time of sale and
on account of the payment of the
purchase price of like force and effect
as though the bonds had been them
selves delivered. And the said pur-
chaser shall take and receive all Of
the property purchased, subject to the
performance by him or his successors
or assigns of all pending contracts in
respect thereof lawfully made by
Oregon Land and Water Company or
by the receiver or receivers and or
by or impressed upon the same by or
der of court.
Within thirty days after the max
ing of said sale, the purchaser orI
purchasers shall pay or cause to be
paid oil of the balance of the sum bid
for said property over and above the
deposit applied thereto, and complete
the entire transaction, and upon such
payment the purchaser or purchasers
shall he entitled to receive n deed
from the Special Master and be let
into possession of the property, and
upon the execution and delivery of the
deed the receiver or receivers shall
deliver all of the premises sold and