New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-18
MASTERS SALE

10.
ing 10 the psynent OF the ba'ance OF VIZ
purchase price. then the moneys OF ut,'-
and coupons deposited By such acespi
bidder as herslnbefOre PROVIDED va" ~
forfeited as a penalty for such failure SRI
will be applied 20 the payment OF NC -
penses Of resale and TOWARD Wah.ns
good any deficiency or loss IN case ~ a.
property shall be sold az less price on
such resale and 70 such other P''P"
said Court may direct
II said Court shal, not confirm any sa =.
tho deposit made b. fhe aceepLfu ~ ~. .
at such sale will be fofinwth rctufH'" ~
such bidder.
Ninth. The purchaser upon confirmation oi
the sale shall make such further pa,
or payments In cash on account o. W
purchase price as said court may Alo.'
time 20 time direct So much OF nc p,'
chase price as may not be require ~
said Court 10 be paid IN cash nay ma nav
satisfy and make good the residue OF ~
bid in whole or In part by turning oFtI y"
the Special Master TO be cah,e"su =, 80
tied as hereinafter provided, bonus
coupons entitled 20 be paid out or W.
proceeds Of sale on distribution thereoi rs
In said Final Decree set FORM.
bonds and coupons shal ne IN b,att' -
or accompanied by proper transleT' /" '"
Special Master. a.
In lieu on such bonds and coupons. the
Special Master may accept from me p'I
chaser the certificate OK any national Danh or
trust company in the City ~ New YORK or ln
the City OF Cincinnati, accfpiapie TO wv
Special Master. that u holds subject ~ ~
order bonds 10 the amount therein spoes"yl.
ard, N in coupon form, Accompanies "
the coupons therein stated.
The purchaser shall be credited on account
OF the purchase price OF the property - III
purchased FOR all bonds and coupons tuih.N
over or specified IN a certificate delivered as
hereinbefore provided In part payment 81
the purchase price. with such sums as "O.l'
lie paid in respect 20 such bonds ana 'oN-
pOus out % the proceeds Or the saie u VIZ
vhole amount Of the purchase price We4e
Maid In cash said Court reserves the risht
10 resell upon such notice as said Court may
direct the property sod 70 am p-IC.'a'S
in case such purchaser shan ran OF oi''t -
make any payment on account 81 tht ~,
paid balance Of the purchase price WITHIN
twenty days after the entry " an oldrT Is
qJiTing sEcn payment
purchaser shall not be required 20 pay
the shares dlstrlbutable IN cash out or the
proceeds Of sale upon Ironton Bonds or co1-
pOns appuItenant thereto. or upon FIRST ana
Refundlng Bonds or coupons appurtendht
thereto. or upon General Bonds or .ou-
pons appurtenaut thereto. until ten days
after said Court shall. on application Of or
on behalf Of the holder OF any Of said bon1s
or coupons. enter its order or decree difee l.
ing payment IN accordance with s-ch oIueI
Of the cash distriOutve share or the pfoeetes
OF any sale 10 which the bonds and COUPONS
or any OF them In respect OF which their
holder shall make application as atoresald'
shall be entitled. Until purchaser, MS suC-
cessors or assigns. shall have paid In casn
the distributive shares IN the proceeds o.
sale TO which any such bonds or cou-
pons not used IN part payment OF the puI-
chase price shall be entitled. either 10 the
Special Master or into Court or IN accord
ance with some order OF said Court saIl
Court reserves a paramount lien ana chaIbt
upon the property sold 20 such purchaser and
every part and parcel thereof Tor the pay
ment IN cash OF any unpaid part or portion
Of the purchase price. and IN case the pI4 p
chaser, his successors or assigns. endii name
default FOR period OF twenty days IN conf
plying with the directions OF any order for
such payment made by said Court upon the
application OF the owner OF any such bonus
or COUPONS then said Court may retake ana
resell the property sold 10 the purchaser VINO
or whose successors or assigns. SNAIL so nave
made default. and at his or their cost anu
risk.
Final Decree the purchaser Of any OF said
property shall take the same subject 70 any
and all taxes and assessments Nhlcn shali
be q lien upon any OF the property pus-
chased: and the purchaser OF any OF SAID
property (other than the property descrioed
in subdivision (b) OF clause III OF Paragraph
Fifth hereof or OF the property described IN
subdivision % OF clause III Of Paragraph
Fifth hereof or Of the property described In
cessors and assigns, shall, as part OF me
consideration for the property purchased ana
in addition TO the sums bid by MIN ana else
where in said Final Decree, or In any other
order or decree which may hereafter lie made
in said Consolidated Cause. required 10 be
paid by him. take such property and rec Give
the deeds or other instruments OF conveyance
and transfer thereof. upon the express con-
dition that he, OF his successors and assigns.
shall pay. satisfy and discharge:
(a) Any unpaid compensation that has
been or shall be allowed 10 the Special
Master heretofore appointed In said Con-
solidsted Cause, or in any OF the consult
has been or shall be allowed 10 the re-
ceivers in said Consolidated cause or their
solicitors. and also any unpaid indebted
ness and liabilities OF the receivers incurred
in said Consolidated Cause, or In any or
the constituent causes. In the management
or operation OF the property purchased. and
otherwise In the discharge OF their duties
as such receivers to the date OF the delivery
by the receivers OF possession OF the prop
erty sold.
10 ANY unpaid claims OF creditors o.,
the Railway Company which have been or
shall be admitted by the parties IN interest
or adjudged by said Court TO be prior In
lien or superior in equity TO both the First
and Refunding Mortgage and the General
Mortgage and, In the case OF a purchaser
embraced in the Ironton Mortgage IA a
separate parcel, TO the lronton Mortgage
to the extent that they have not been paid
or shall not have been paid out OF moneys
in possession OF the receivers. ANY surplus
OF said moneys remaining after the payment
subdivisions (a) and (b) shall be paid b.
the receivers 10 the purchaser OF the parcel
Of property provided for In clause ~ Or
Paragraph Fifth hereof, or TO his successors
or assigns. or on the order thereof.
In case the property by said Final Decree
directed TO be sold shall be sold IN parcels.
no purchaser Of any part OF the property
embraced Ia the lronton Mortgage shall be
required to make payment Of any indebted
ness or liability contracted or incurred by the
Railway Company unless such claim shall
be adjudged by said Court TO be prior in
lien or superior IN equity to the Ironton
Mortgage. the First and Refunding Mortgage
and the Genera Mortgage. and each OF them
ana the purchaser OF the property described
In subdivision tcl Of clause II OF Paragraph
Fifth hereof or OF the property described In
clause Nv or Paragraph Filth hereof shall not
be required TO make payment OF any in
cebtedness or liability contracted OF incurred
by the Ralwav Company unless such claim
shall be adJudged by said Court 10 be prior
in lien or superior In equity TO both the
First and Refundny Mortgage and the Cen
eral Mortgage and among said respective
parcels said Court will apporiion the IN
debtedness or liabilities 20 which they may
respectively be subject. and charge against
the proceeds OF sale OF the respective parcels
their proper proportion OF such indebtedness
or liabilities.
The parties 60 receive and pay. and the
amounts 10 be paid and eceived. under said
Article Ninth, unless agreed upon by the
parties IN interest. shall be fixed and adiudl-
Gated By said Court. and said Court re-
serves the right and retains the power and
jurisdiction so 10 DO, and the right, power
and Jurisdiction 70 take back and resell any
property that shall be sold under said Final
Decree In case the purchaser or purchasers
or his or their successors or assigns. shall
fail 10 pay any OF tho claims mentioned in
said Article Ninth when by SAID Court re-
CURED. and IN case OF failure TO pay any
other part Of the purchase price OF the prop-
erty sold under said Final Decree. within
twenty days after service OF an order OF said
Court requiring such payment. or Il an APP
peal be taken from any such order, within
OF hnal confirmation OF such order upon
appeal.
In the event that any purchaser or his
successors or assigns. after demand made.
shall refuse 20 pay any OF the above-men-