The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1919-09-24
THE BRUNSWICK NEW


as a pledge that a6tn bidder wiz
make good his bid IN case OF its ac
ceptance and continuation By the
Court the sum OF Ten Thousand dol
/ lars in cash or By certified cne,k up
on any National Bank OF Trust com
pany in the State OF Georgia OF the
city of New York acceptable to the
Special Master and made or endorsed
! payable to his order or in lien Of such
deposit in cash CT by check one hun
dred thousand dollars face amount of
first mortgage bonds in bearer form
bearing coupons appertaining to such
| bonds, either of the issue secured
| by the deed OF tTu.t to the Merton
! Trust Company as Trustee or of the
issue secured by the deed of trust to
the Columbia Trust Company rs trus
tee or III lieu Of said deposit
, of said check or bonds the
Special Master is authorized to
acept the certificate Of the
Columbia Trust Company that il
holds subject TO his order the amctnt
| herein specified Of said bonds III
bearer form accompanied by the cou
pons therein stated. The deposits r.
'eived from the unsuccessful bidders
"ill be returned 10 them when the
..'.perty has been struck off. The de
2osits received from any successful
bidders will be held by the Special
10 do - h.
| Court and upon confirmation VI the
sale will be applied on account uf the
purchase price Of the property.
VI, III case any bidder after &C
Ceptance of his bid by the Special
Master ahall fail 70 comply within
period of twenty days with any order
II the Court requiring or relating to
he payment of the balance of he pur
chase price then the sums depcsitel
by such successful bidder whether
n cash or by check. c. represented
cv bonds, will be forfeited as q ren
,lty for such failure and will be az
Piled to the expenses Of 4 resale and
Nwards making good az deficiency
or loss in case the property shall
be sold at less price upon such
~esale and to such other purposes as
ne Court may dircc1. Il ~ Cour'
shall not confirm any sale the deposit
made by the accepted bidder shall be
forthwith returned to such bidder.
VII. After the sale of all Of the
property of said railroad company and
on notice to all of the parties in said
cause the funds arising from the sale
will be distributed Under the orders
of the Court fixing the relative rank
and dignity of all liens incumbralc
cs and charges against the said prop
erty and he receiversnip thereof &C
cording to their respective rank, dig
atty and priority, No claim or charge
against said funds o. the rcorerty Of
said railroad company will be entitled
to payment out Of the proceeds Of the
sale unless claim in respect thereof
shall be filed il said court within
.hirty days from the date Of the cen
firmation of said sale or un
less the same shall be finally
determined by the Court to be emit
| tied to payment out of said funds.
VIII, Provision is made in said de
cree for the joint execution of deed
or deeds to said property by the Spe
cial Master and the defendant Geor
gia Coast e Piedmont Railroad Com
rany and the release OF all right, ii
tie and interest in said property by
the Guaranty Trust Company OF New
York, as successor Of the Morton
Trust Company, as Trustee, ann the
Columbia Trust Company as Trustee
under the mortgages or deeds of trust
held by them respectively on said
property.
The Special Master shall not re-
ceive any bid under plan one or plan
two, for the entire property as a 60
ing concern or as a dismantling mop
osition for Jess than the sum of Four
Hundred Thousand 100000 .o0) dol
lars.
Dated this September 8, 1919
], w. TALBERT,
Special Master.
| Savannah Ga