New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-24
MASTERS SALE

appurtenant 10 such bonds maturing oeio-
Der l. 1914 and subsequently,
IA IN case 81 the property embraced IN
.aid First Mortgage. as an entirety. the
sum OF $50 900 in cash. or ny certified
check upon any national bank or uus,
company in the state 81 ONO or ne LIZ
Of New York acceptable 10 the sTectl
Master and made or endorsed payable 70
his order. or In Hen Of SAID deposit in cash
or by check. 100000 iscs s an.oun 49,, q.
ing the coupons appurtenant to such bonds
maturing october !. 1914. and subse1uehtly-
A deposit made by any bidder ior a seps.
applied on account Of the deposi, required
10 DO made in order TO qualify him 70 bi1
for the same property when offered as part
OF the mortgaged property as an entircy.
In lieu OF the deposit ot First Mortgage
R9nds and coupons with the Special master
hereby permitted. the Special Master VII
accept the certificate 81 the New York Irus'
Company that n holds subject % MS nIne'
the amount therein specified Of First Mort
gage Bonds in bearer form. accompanied ~
the coupons therein stated. The deposl, re-
ccived from any unsuccessful BIDDER VIII be
returned 10 him when the properly has Deeh
| struck OF The deposit received from any
successful bidder VIII be held ~ the special
Master subject 90 the orders OF SAID Court
and upon confirmation OF the sale Will be a2-
Piled on account OF the purchase price 81 me
property for which said bids were made.
VI In case any bidder. after the accept
srce OF hts bid By the Special Master. snall
T
days with any order - the Court requiring
or relating 20 the payment of tho balance
OF the purchase price. then the sums depos-
tied by such accepted bidder or bldaers -
hereinOefore provided. whether IN cash or D.
check or represented by First Mortgage
Bonds VIII be forfeited az penalty for
such failure and will be applied 70 the pay
I rneut Of the expenses Of "A resale and toward
making good any deficiency or loss in case
the property shall le sold az a less price on
any such resale and FOR such other purposes
a. the Court may direct. lf the .ourt shS..
not confirm any sale, the deposit made by
the accepted bidder Will he forthwith re-
turned 10 such bidder.
VII. The purchaser or purchasers. on the
confirmation Of the sale ny the Court. shall
make such further payment or payments In
cash on account ~ the purchase price as
the Court may from time to time direct. So
much OF the purchase price az may not be
required By tho Court 70 be paid In cash
may either he paid in cash or any purchaser
may satisfy and make good such residue OF
his bid in whole or in part by turning over
10 the Special Master 10 be cancelled or
or, dlted, as hereinafter provided, First Mort
gage bonds and coupons thereunto apperiain-
ing In lieu OF so turning over TO the Special
Master First Mortgage Bonds and coupons.
the Special Master will accept the certih-
cate OF The New York Trust Company
that IL holds subject 10 his order the
amount therein specified OF First Mort
gage Bonds I'm bearer form and accom-
panied by the coupons therein stated.
d
purchase price for First Mortgage Bonds and
the coupons thereunto appertainnS turned
over In part payment or the purchase price
such sum as would be paid in cash upon such
First Mortgage Bonds and coupons out OF
the proceeds OF sale II the whole amount OF
the purchase price had been paid in cash.
The term purchaser wherever used IN this
Notice or IN said Final Decree includes the
plural in case there shall he moro than one
purchaser OF any property sold hereunder.
VIII The Court reserves tho right 10 resell
.glI .
such notice as II may direct at the risk and
cost OF such purchaser, in case such pur-
chaser shall fail or omit to make any pay
ment on account OF the purchase price within
twenty days after the entry OF any order
requiring such payment. Neither any pur-
chaser. nor his successors, or assigns. shall he
required TO see TO the application OF the
purchase money. Each purchaser shall have
the right to enter his appearance In said
Court and 10 become party 10 the cause
TX As provided in Article Xxx OF said
| Final Decree purchaser Of the whole or any
part OF the mortgaged property shall take
the same subject TO all taxes. assessments
and other charges that are a lien on said
property. and the purchaser OF The mort.
gagged property as an entirety. or IL IL SHAH
not be sold as an entirety. the purchaser OF
the parcel provided for In subdivision (cp OF
Article XXVI OF said Final Decree. being
the parcel described In subdivision (c) OF
/ Paragraph hereof as part OF the consid-
Grafton for said property and as part OF the
purchase price thereof and In addition to
the sums bid by him and elsewhere In said
Final Decree required 10 be paid by him.
shall take such property and receive the
deeds or other instruments OF conveyance
and transfer thereof upon the express cond!-
ton that he or his successors or assigns
shall pay. satisfy and discharge any unpaid
Indebtedness and Liabilities of the Receivers
Of The Cincinnati. Hamilton and Dayton
Railway Company Except taxes and assess
ments as aforesaid) incurred in the manage
ment and operation OF the property subject
/ to the First Mortgage TO the extent that
they shall not have been paid out Of moneys
in the possession OF said Receivers including
moneys received BY them after surrender OF
possession OF said property. but arising from
the prior management and operation thereof.
The amounts to be paid under said Article
xxx, unless agreed upon BY the parties In
interest, shall be fixed and adjudged By said
Court. and said Court reserves the right and
retains the power and jurisdiction so 10 do.
and the right power and jurisdiction to take
back and resell any property that shall be
sold under said Final Decree in any
purchaser or his or its successors or assigns
shall fail TO pay any OF the obligations men
toned In said Article xxx within twenty
days after service OF an order Of said Court
requiring said payment or II an appeal be
taken from any such order. within twenty
days after service Of written notice Of final
confirmation OF such order upon appeal.
In the event that any purchaser after de-
mand made shall refuse TO pay any OF the
above mentioned obligations which under tho
fore going provisions OF said Article xxx
he Is or may be required TO pay. the person
to whom the same may be due. upon twenty
days notice TO such purchaser, may file
petition in said Court TO have the same
enforced against the property sold TO such
purchaser. in accordance with the usual
practice OF said Court IN relation to pay
ments OF a similar character; and such pur-
chaser shall have the right to appear and
make defense TO any claim. debt or demand
or tho priority thereof so sought 10 be en-
forced.
y. Article XXI OF said Final Decree
provides that the Receivers OF The Cinc,n-
natl, Hamilton and Dayton Railway Com
pany shall. not more than twenty nor less
than ten days prior 10 the date Fixed for the
sale under said Final Decree, fle with the
Clerk OF said Court an advisory statement
or statements with reference to Indebtedness
liabilities. contracts and leases.
Any purchaser and his Successor, or
signs shall have the right for the period Of
six months after the delivery OF the Special
I Masters deed. TO elect whether or NOT to
assume or TO ,dopt as part Of the property
made b. Tho Cincinnati. Hamilton am Day-
ton Railway Company appertainlng 20 the
property purchased by him. and such pur-
CHASER. his successors or assigns shall hs
held not TO have assumed or to have adopted
any lease or contract IN respect OF which he
or they shall not have filed a written cleo
ton TO assume or to adopt the same with
tho Clerk Of said Court within said period OF
six months or within such additional period
as said Court may thereafter by its order
or decree permit
Amy purchaser and his successor, or as
signs shall have the right TO elect not to
take or accept any part o. the property
struck of 10 him. by written notice to tbs
Special Master given at any time prior TO
the execution and delivery OF the deed or
Instruments OF transfer from the Special
Master. No such election by any purchaser
his successors or assigns. shall diminish or
AFFECT the purchase price OF the property
ri Upon confirmation OF sale and the
payment OF the purchase price by any pur-
chaser, BIS successors or assigns or upon
making such provision for tho payment
thereof az said Court may approve. tho Spe-
cial Master making the sale shall execute
10 such purchaser. hts SUCCESSORS or assigns
a deed or deeds or other proper instruments