The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1913-02-15

other indemnity as said Trustees may de-
mand as condition precedent to the
making of said bid II any bid shall be
accepted by said Trustees or by said
Court, and the person or persons making
the same shall fail to comply with all
the terms of said sale and all orders
which may be made by said Court in re-
spect thereto, then said sum SO deposit
ed with said Trustees Shall be forfeited
and shall be duly applied by said Trus-
tees to the expenses and resale, or to
the costs, expenses, commissions or al
lowances of said cause, or in payment of
the bonds aforesaid, as said Court shall
order; but in case such bid shall be re-
jected by said Trustees or by said Court,
the deposit so made by said bidder shall
be returned to him.
te) That at any sale or sales of the
aforesaid mortgaged premises and prop
erty described in said indenture, or any
part thereof, said Complainant the Cir
ard Trust Company, Trustee, under the
indenture aforesaid may, upon a written
request from the holders of a majority
| of the bonds thereby secured and out
| standing as aforesaid the said Complain
ant Trustee shall, bid for and purchase,
or cause to be bid for and purchased, the
| same for and in behalf of all the holders
| Of said bonds thereby secured and then
| outstanding who shall join in such request,
| in the proportion of the respective inter-
| ests of such bondholders, at price to be
named in such written request, not ex-
| ceeding the whole amount then secured
| by said mortgage, and the costs, ex-
| penses, commissions and allowance of
| such sale or sales; and in any such case
| the bondholders making the request shall
| DE liable for the amount SO bid by said
| Complainant Trustee, and said Com
| nlaiDaOf Tructaa rauuira dpnoeit
of cash or other indemnity as condi-
| ton precedent to its making the said
| bid; provided, nevertheless, that any
| bondhoders, not parties to said request
| when first made, may become parties
| thereto and entitled to the benefits and
charged with the responsibilities thereof,
| by notifying said Trustee of their desire
| so to do and complying with the terms
| required by those originally named in
| said request, at any time before said
| sale and purchase.
~ That upon any such sale as afore-
| said, the purchaser or purchasers shall
| be entitled TO turn in, use and apply, in
making payment of the purchase money
| hidden upon such sale, the bonds and
| coupons secured by said indenture and
then outstanding as aforesaid, reckoning
| such bonds or coupons for such purpose
| at a sum not exceeding that which shall
| be payable out of the net proceeds of
such sale to the holder or holders of
such bonds or coupons for his or their
just share of the net proceeds of sale,
upon due apportionment of and account
ing for such net proceeds. If registered
bonds be used in payment as afor esaid,
| they shall be endorsed and assigned in
| blank by the registered owner thereof
and, instead of manual delivery thereof
| to said Trustee, the said Trustees may
in their discretion, accept in lieu there
| of a certificate from a bank or trust
company by them deemed to be respon-
sible, that it holds said bonds subject to
| the orders of said Trustees.
tg) That when said sale has been made
| by said undersigned Trustee, and shall
have been finally ratified by said Court,
the Purchasers shall, within five days
| from said day of final ratification, pay
to said Trustees nethird of the purchase
| O1onev