The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1919-09-11


ceive no bids Irom ANY uue wh0 shall
not first deposit With him as d tondi-
ton precedent to his right to biz and
rs ii pledge that such bidder will
make good his bid in case of its ac
ceptance and confirmation by the
Court the sum Of Ten Thousand dol
| lars in cash on by certified check up
On any National Bank or Trust com
| 0any in the State Of Georgia o. the
city of New York acceptable to the
! Special Master and MADE or endorsed
payable TO his order on i'll lieu OF such
deposit in cash CT by check one hun
dred thousand dollars face amount o.
first mortgage bonds N bearer form
bearing coupons appertaining to such
| bonds, either of the issue secured
| by the deed of trust to the Merton
! Trust Company as Trustee or of the
| issue secured by the deed Of trust to
! the Columbia Trust Company as trus
tee or in lieu of said deposit
Of said check or bonds the
| Special Master is authorized to
'cept the certificate of the
| Columbia Trust Company t1at it
ODDS subject to his 0rdar the amount
| 'e"eln specified Of said bonds III
carer form accompanied by the COZ,
EHns therein stated The deposits re
felved from the unsuccessful bidders
vii. be returned to them when the
property has been struck off The de
| posts received from any successful
| bidders will be held by the Sreciol
Master subject to the orders of the
Court ard upon confirmation If the
sale will be applied or account oG the
purchase price Of the property.
VI. In case any bidder aftAr az
| ceEtance of his bid by the Special
Master shall fail 90 comply within
period OF twenty days with any order
OF the Court requiring On relating to
the payment OF the balance of he pur
| chase price then the sums depcSite,i
by such successful bidder whether
in cash or by check CT represented
~, bonds, VIII he forfeited as q pen
atty for such failure and will be an
pm" w liiC CApcIi>CS Vi al If tia ana
towards making good any deficiency
or loss in case the property shall
be sold at a less price upon such
resale and to such ether purposes as
the Court may direct, II the Court
shall not confirm any sale the deposit
made by the accepted bidder shall be
forthwith returned to such bidder.
VII. After the ga e Of all Of he
property Of said railroad company and
On notice 20 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, incumbrarC
Cs and charges against the said prop
erty and the receiversnip Thereon ac
cording to their respective rank, dig
nifty and priority, No cain or charge
against said funds or the, property of
said railroad company will be entitled
to payment out of the proceeds of the
sale unless claim in respect the reof
| shall be filed in said court within
| thirty days from the date of the con
| firmation CT said sale or I'm
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
| pany 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, and the
Columbia Trust Company as Trustee
Tnder 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 dsmantling prop-
Osition for less than the sum of Four
Hundred Thousand ($400 000. 0O) dol
lars.
Dated this September 8, 1919
J. w, TALBERT.
Special Master.
Savannah Ga