New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-16
MASTER'S SALE

,...,'ft dsrs ate tho enfrr thereof WITH
any order ~ said court requiring or rHst
Ing - the aymeut % the balance or tnc
purchase price. then the moneys or bono,
mud coupons deposited hv such sc.ept ~
! bidder g. nercinheforo protidcd VIII ue
| forfeited ~ penalty for such ialiute ~
| viii he applied 90 the payment ~ tho cN
/ peuscs of resale and toward nahink
good any deficiency OF toss In case tns
propcr'y shall be sold ~ loss prl,a OF o..
J such resale. and 10 such other purposes ~
said court may direct
n said court shat, not confirm any sale
I the deposit made hy tho accepted hlnn"l
- .uch sale viii b" fotthwith returned "
such b'ddcr
Ninth. Tic purchaser upon confirmation ~
b thu sale shall make such further pai infnt
/ or payments BOO cash ON account OF IN
purchase price as said court may IRON
time 30 time direct. SO much OF ne pur-
chase price Hs may not be required by
I said Court e. be paid iu cash may olthci
/ be paid Ia cash or the purchaser U,"y
satlsfy and make good the residue OF ms
/ ulI iu whole or Ia part b. turning over !"
the Special Master 10 be cancelled or creu
tod - hereinafter provided. bond' snu
! coupons cntiti'd TO be- paid out OF tn'
proceeds OF sale OF distribution Thereon y.
Boo said Final Decree set forth. 80
bonds ard coupons shall bc in bearer form
or accompanied 10y proper transfers 10 '"'
In lieu or such bonds and coupons. the
+ Special Master may accept from the pNl-
chaser the certificate OF ans national bahN OF
the cry Of Cincinnati. acceptahle 20 ~
I Special Master. that II holds subject 10 ms
order bonds 10 the amount therein speci1,u.
| ard, II iu coupon form, accompanied ~
! the coupons therein stated.
! The purchaser shall be credited on account
/ OF the purchase pfice OF the property % n'''i
| purchased Tor al bonds dud coupons t"'".H
/ over. or specified IN a certhcate dehNeitp -
] herenbefore prosidcd. In part pa4 Weht %,
/ the purchase price. with such sums a. ""'ld
! lie paid in respect to such bonds and cou-
sNf. fctla of he
! whole amount of the purchase price "tic
| paid in cash. said Court reserves the rlsht
| to resell upon such notice as sdld touit Hlay
| direct. the property sold TO any plrchase''
/ in case such purchaser shall fan or omit 10
I make any payment on account OF the un-
paid balance OF the purchase price "I'hin
I twent- days after the entry OF an oiue' &c
I curing such payment
A purchaser shall not be required TO pay
! the shares distributable In cash out OF the
proceeds OF sale upon lronton Bonds or coz
/ pqns appuItenant thereto. or upon Flrst ana
Refunding Bonds or coupons appurtehaht
/ thereto. or upon General Bonds or cou-
pons appurtenant thereto, until ten days
after said Court shall. Oh application Of or
on behalf Of the holder Of any Of SAID bonds
or coupons enter It's order or decree direct
ing payment IN accordance with such otdsr
Of the cash distributve share OF the proceeds
OF any sale TO which the bonds ana codi,"l9
b or any OF them in respect or Wnlch thtlI
holder shall make application as atoresald'
shall be entitled. Until a purchaser, ms sue
the distributye shares in the proceeds Oh
sale 20 which any such bonds or cou-
pons not used in part payment OF the pur-
chase price shall be entitled, either 10 the
Special Master or into Court or IN accord
ance with some order OF SAID Court sald
Court reserves a paramount lien and charge
upon the property sold TO such purchaser ana
every part and parcel thereof Tor the pay
ment I'm cash OF any unpaid part or portion
OF the purchase price. and In case the pur-
chaser his successors or assigns. shall make
Ifef.f Ilf for "a ne "a ~
plying with the directions OF any order for
such payment made by said Court upon the
application OF the owner Of any such bonds
or coupons. then said Court may retake ana
resell the property sold o. the purchaser VINO.
. or whose successors OF assigns. shall 80 nave
made default and at his or their cost ana
risk
Tenth As provided In Article Ninth OF said
7 Final Decree the purchaser OF any Of ,aid
property shall take the same subject TO any
and all taxes and assessments which shall
be a lien upon any Of the property pur-
chased. and the purchaser or any OF said
property tother than tine property described
in subdivision 10 OF clause II OF Paragraph
] Fifth hereof. or OF the property described IN
subdivision OBJ OF clause ill OF Paragraph
Fifth hereof. or OF the property described In
cessOrs and assigns. shall. as part OF the
consideration for the property purchased ana
I'm addition TO the sums bid by MN ana else
where in said Final Decree. or IN any other
order or decree which may hereafter he made
in said Consolidated Cause required 10 be
the deeds or other instruments Of conveyance
and transfer thereof. upon the express COLI
dltion that he or his successors and assigns,
shall pay, satisfy and discharge
(a) ANY unpaid compensation that has
been or shall be allowed 10 tho Special
Master heretofore appointed in said con-
solldatcd Cause. or ~ any Of the constit-
uent causes. any unpaid compensation that
has been or shall be allowed to the re-
leiyers Ia said Consolidated Cause or their
solicitors, ana also any unpaid indebted,
ness and Liabilities Of the receivers incurred
IN said Consolidated Cause. or In any OF
the constituent causes IN the management
or operation OF the property purchased. and
otherwise in the discharge 81 their duties
as such receivers 10 the date OF the delivery
by the receivers OK possession OF the prop
erfy sold.
fb) ANY unpaid claims OF creditors %
the Railway Company which have been o.
shall be admitted bv the parties In interest
or adjudged hv said court TO be prior IN
lien or superior in equity TO both the First
AMI Refunding Mortgage and the Genera!
Mortgage and. IN the case of purchaser
b embraced in the Ironton Mortgage a5 q
separate parcel. TO the Ironton Mortgage.
TO the extent that they have not been paid
or snail not have been paid out of moneys
in possession ~ the receivers. ANY surplus
Of said moneys remaining after the payment
Of the claims mentioned III the foregoing
subdivisions ta) and (bl shall be paid b.
the receivers to the purchaser OF the parcel
Of property provided for in clause ~ o.
Paragraph Fifth hereof, TO his Successors
or assigns. or on the order thereof.
In case the property by said Final Decree
T directed 20 be sold shall be sold ~ parcels
, no purchaser OF any part OF the property
/ embraced in the lrontOn Mortgage shall lie
required 10 make payment Of any indebted
hess liability contracted or Incurred by the
Railway Company unless such claim shalt
be adjudgci by said Court to b. prior IN
lien or superior ir equity 10 the Ironton
I Mortgage the First and Refunding Mortgage
and the Genera Mortgage. and each OF them
and the purchaser Of the property described
in subdivision tcb Of clause II OF Paragraph
Fifth hereof or OF the property described in
clause " or Paragraph Fifth hereof shall NOT
be required TO make payment OF anv IN
p debtedness or liability contracted or incurred
' hy the lailwa" Company unless such claim
shall be adjudged by said Court to he prior
in lien or superior I'm equity TO both the
First and Hcfuniing Mortgage and the Gen
oral Mortsas' and * among said respective
parcels said Court Will apportion the in
debtedncss or liabilities 10 which they may
T respectively be- subject. and charge AGAINST
the proceeds Of sale u the respective parcels
their prom propo"'.oe OF such Indebtedness
or Liabilities.
Tae parties 10 receive and pay and the
amounts 10 be- paid and 'eceiyed. under said
/ Article Ninth unless agreed upon by tho
parties in interest. shall be liked and adiudi.
Gated bv said Court. and said Court re-
serves the right and retains the power and
. jurisdiction 20 10 10, and the right. power
b and jurisdiction to take back and resell any
p property that shall be sold Under said Final
Decree In case the purchaser or purchasers
or lis or their sue, cssJrs or assigns shall
fail 20 pay auv OF tho claims Mentioned In
SAID Article Ninth when ny sad Court re-
quircd ami In case Of failure TO pay any
b. other part 81 the purchase price OF the pro.-
/ crty sold under said Final Decree. within
l twenty days after service 81 an order Of said
Court requiring such payment. or n an ap-
peal be taken from any such order within
twenty days after service OF written notice
| OF final continuation OF such order upon
: appeal.
IN the event that any purchaser or hi,
: Successors or assigns. after demand made