New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-03-05
MASTERS SALE

deposit may De maze party III t@sH ~ -.
caeck suu pa uy hruhons t.i-- '. " |
- In case 2. Parcels and q. when orcred to-
gp'acr. Tie asgrcsate o. such suns i .4.- -. p.
certified check IS Aforesaid. cr tie assitsa.e ..
bonds of such character ald % SUCH am, ANS ~
would be required under TIE iofcsohs .tA'a- IA
ana 20 qualify said D-ison 20 Oid Tor Dom % say"
8 II case " Parcel T. vh,n offered .epa'steiv.
some na.oha. l-l" o. u.s. to"t-.s 49, .,,.s,..
- New lOg. cr iu the tlu oi Dctrof. attt - a. g
abe 20 his order ~ 81 900 600 face amour, ~
principal o. improvement Bonds in uctfcI il !.
and. u coupon bonds. accompanied ul we So1Y "
- September I. 1872. ana ali subsequent 'pNi1ti''
such deposit may De made parity in tsh "i ser.
ned check and partly in improvement Bonds bnl -'
z In case Of Parcels c D and J.. when ofeFed
together the aggregate 90 such sum, ~ 'A,l of =,
seTtiicd CHECK as aforesaid OF the aggregate OF
bonds. OF such character AMI 10 slch amounts -
would be- required under the foregoing clauses =
and 10 qualify said person 10 BIO icr at OF salo
). Ia case OF Parcels A. b. C. and p. wien
offered As an entirety. the aggregate oi sueh slm'
In cash or 6y certified check a 4ioresaia. q. 'ns
aggregate u receivers certihcsfes or PONDS o.,
claims with transfers thereof Of such character and
20 such amounts as would he required under ne
foregoing clauses l. .. 3 and o. 10 Qualy saii
persons 10 bid for an az said Parcels
In lieu OF the deposit OF receivers erifca. e.
bonds and coupons and claims VIII transfers
thereof. ia accordance with The requirements o.
any OF them the special Master viii accept the Ger
uncste q any national bank or trust COMPANY
in the city Of New York or iu me city o. Bos Oh
in tho city Of Detroit acceptable fo me Special
Master. that % holds a. the case may De- fecel'
ers' certificates. bonds OF lie required character
iu negotiable form and. n IN coupon form, accom-
panied by the required coupons. or claims 0f no
required character With proper transfers thereof.
subject ~ tho order OF the party therein named.
I said Certificate being by him transferred 10 tbs
order o. said Special Maser deposit made By
any bidder for separate Psrce! may. 80 iaf a.
applicable be applied ON scrount Of the deposit re-
duired 10 be made In order % qualify isln 10 pa
Tor said Parcel when offered together WIN one ol
offered for sale As entirety deposit made
by any bidder Tor the cnutety viii also qualify sucn
. bidder 10 bid on any or all Or he Panels. 800
Any deposit revived from AZ unsuccessful o'd-
der VIII be- returned 10 him whom ihc piup'iN
t shall be struck dowa Tie deposit received from
the successful bidder 0r bidders VII b. applied
On account ~ thc purchase pdce Of the property.
The Special Master viii not accept any sum pa
for Parcel A. less Than the sum o. - sVV VuV
for Parcel b. les. than the .um OF $4,000 io-
Parcel &. les than the sum of 4 500 coo. ioi
Parcel p les than The sum Of 5000 600 i ,S
the sum u s. 800 600. for Parcel T.. less han the
sum u S2j0o00 for Parcels {. d and Wien
offered together. less han The sum Of 50 35OV0V
FOR Parcels 4 H. g y and when offered as an
entirety. less than The sum Of so 100 900.
VII In case any bidder upon the accept nce Of
his bid by the Special Muster shall fail 10 comply
within the period 81 twenty days after The entry
Thereof with any order Of the District Court o. me
United States for The Eastern District OF Michigan
. Southern Division requiring or relating 10 the pay
ment OF the balance ~ the purchase price then tie
MONEYS receivers certificates. bonds and coupon,
+ or claims deposited by such accepted bidder WI
be forfeited a. penalty Tor such failure snd viii
be applied 20 the payment OF the expenses o. re-
sale and toward making good any deficiency OF ioss
iu case thr property n respect OF the payment OF
the purchase price ~ which, said accepted bidder
shall make default shall be sold az less price on
such re- ale. aud 10 such other purposes as saa
Court may direct n said Court shall not confirm
any sale the deposit made by the accepted bidder az
such sale Will be forh"lth returned 20 such Iiulel
VII The purchase upon conn nation Oh me
sale sales must make such iurher payment OF
payments IN cash Oh account OF the purchase pfise
rs said Court NAV from TINE 20 Tine ult'Fl ~
much Of the purchase price as NAV nor De required
10y said Court 10 be- paid In cash may either be paid
in cash. Or tho purchaser may satisfy aud make
. good the residue III his bid in whole iu part hy
turning over 10 the Special Master 10 De cancelled
or credited receiyers certificates aud/Or bonds and
coupons and /or claims with proper transfers Thereof
entitled 10 be paid out o. The proceeds OF saIt oi
distribution thereof said receivers celtln'aLts Hu
said bonds aud coupons shall De IN bearer FORM oi
accompanied hy proper transfers 70 INC Speel4i
Master
coupons or claims. fhc Special Master VII aecep.
the certificate 81 any national bank or trisJ ION
/ pary in the CITY ~ New Nors or in ne 1lb q.
Boston or in the CIV ~ Detroit ac,tptape 20 .ils
J special Master thai O. holds subject 20 his order
such receivers e..tih.atss amor bonds % me
n in coupon 'onn accompanied By fhe coupons
therein stated. and/or such claims oi tlr ,naia,l,l
4 and % the amount therein specified "lh proper
transfer thereof
p rne purchaser viii be credited on account ~ ihe
purchase price o, the property y bin purchaser
d
and coupons and fof an claims ~ I,Heu u'.'
10 the Special Master in part payment oi ne put
chase price such sums as would be psid !" ie'ls t
10 such receivers certificates 90 lA tt'Ir,' 20 49,
bonds aud coupons or ga respect 10 such claim,
oUt NJ the proceeds OF tine sale n the "ho.e sh.l .
II ne purchase price were paid IN cash SaiH 'ouit
reserves the right 20 resell upon such notice a.
said CnuIL may direct fhe property sou TO 49,
purchaser in case said purchaser shall ian or on
=, ,nsle sny ps,u,euf on account ~ the unpaid
balance ~ the purchase price "lihh Unt lt-,ou
~ twenty iaSs after the eniD on ~ o.ue, 49,. .e
B. fr
shall make default Tor a period OF MeHts usgs
il complying with the directions Of any ofief lor
such payment hy said Court. then said 'oatt n.as
rerake and resell the properly sold io ne purchaser
uho or whose successors oi assigns sha.i ~ nsse
made default and 40 Of. or their own cost aha -.
* The purchaser Of Parces 4 and shall as
part ~ tie consideration Tor the properly pHr'uaseI
and DO addition 70 The sums md'p snch prle',@si
faAe such properly AMI receive lhe ue.,s ". 49,
instrument. OF conveyance and transfer thereof upo
fhc express condition that be VIII pay sausy alli
discharge suy aud at taxes ana a''es-iht n.'
shsu be- a Hen upon any of said properly purchase
The purchaser % t8rre.s 4. ana T. s"al'
~ ns,t N me cons Grafton for the property pur
chased and IN addition 20 the sums pa Nf s"th
purchase and elsewhere iu said Final DEGREES re-
qIred to be paid iS him take such properly and
veyance and transfer thereof upon the express cou
zion that he will 20 me extent liAt sis Su at5
amounts have not been paid. or shall no. ne palu
ono 81 moneys Boo possession q The Receivers pay
satisfy and discharge
lal Any compensation that Las beel or shall os
owed 10 the Receivers or fher soncitois ln aa.e
,rnsoida'ed Cause. or IN any 81 ne CONSTITUENT
suits AID also ans Indebtedness. ohhsauois "a
liabilities t0ther than the certificates or ludeDt-
einess In Paragraph NANN OF sald flnal l9''e re
descrbed). which sha have been 'on'tac,,sn ". "a
incurred b5 the Receivers In said 'olso,daisa
Cause "a any OF the con 'itlenI suns, ~ sui
management or ODE. aton o. the pr"p'Is 1919
aud Otherwise 10 the discharge Of tner duties a.
such Receivers between the date " tlcA appoh .
ment and the date 81 the delivery Dy ins he1s''e's
o. posse sion oi tine property sold, ,,.,
Ibl ANY claims o. creditors Of The Consohaated
Company heretofore hled 81 said Consolidated Cause
d. - Ia nrua MlIrH
nave been or shall bs admitted By the parties Ia
interest or adiudged by said Court 70 be prior
I'm lien or superior IN equity 70 the Consolidated
Mortgage or 10 the Refundlng Mortgage Or TO ihe
rr Any and ali taSes snd assessments which
which n said property subject 10 the Hen OF
tie Consolidated MortsaSe shall be oriof 70 The
der Sl Be- ,s s sd Of R Rc SS ' M o
shall be prior IN the lien OF said mortgage ana
which II said property Is subject 70 tho Hen OF
fhe Improvement Mortgage. shal De PRIOR 10 ths
lien Of said mortgage
A. the tine o, the delivery by the Receivers o.
possession o, Par9ls {, u and J.. The Receivers
VIII pay 20 The grantees thereof OK on iaeif ofde
all cash IN the possession Of the Receivers. and VIII
deliver 10 said grantees or Oh their order all cur
rent assets materials and supplies In the posses-io
Of the Receivers IN case Parcels {. ID and shaI
NOT be- sold t0sc Aer tne cash curtesii ssse,s lnse
RAILS and supplies I'm tho possession o. the Receivers
and such compensal9n. lAueoleeness. 0olssllo
and Liabilities o. The Receivers VIII De apDoruoned
by said Court among such OF said Parcels as said
Court shall hereafter determine. and their propo,'
fion OF any such cash ard o. any such compensa
lion Indebtedness obligations and liabilities ss
found and determined viii be- creited and paid TO-
or as the case mey be-. charged against. the puf-
chasers 0f said respective Parfls. The deed "
oe-s or other instruments ~ convey ance ard Trans
fer viii be delivered also subject 10 The satisfaction
and discharge u auy Indebtedness liabilities tex
cept the Indebtedness segurel b. The instr'imei .
specified In clauses 20 p both Inclusive. - anti
Gle Fourth o. said F1nal Decreesl contracted OF
Incurred by the Consolidated Company o. tie oper
alton Of is property prior 20 the appointment o.
the I,ecelyers aud which shall be adIudged hy said
Court 10 be- prior in lien or superior Ia equity %
the improvement Mortgage 20 the extent % Whlcl
tne same shall not De paid or satisfied out n 'h,
income u the property Va the hands o. the Re