The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1919-09-10

ceiye no bids IrChI any one who shall
not first deposit with him as a e0ndi-
ton precedent to his right to biz and
as d pledge that such bidder viii
make good his bid in case Of its &C
ceptance ana continuation by the
Court the sum of Ten Thousand dol
lars in cash or by certified check up
on any National Bank or Trust com
.)any in the State OF Georgia or the
city of New York acceptable to the
Special Master and made or endorsed
payable to his order or i'll lieu of such
deposit in cash or by check one hun
dred thousand dollars face amount OF
bearing coupons appertaining to such
bonds, either of the issue secured
by the decd 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 til
Special Master is authorized to
jccept the certificate Of tnr
Columbia Trust Company that il
Odds subject to his order the amount
erein specified OF said boads ir
carer form accompanied by the con
CONS therein stated. The deposits re
celved from the unsuccessful bidders
will be returned to them when the
property has been struck off The de
bidders will be held by the Specia'
Master subject to the orders of the
Court and upon confirmation ii the
sale will be applied on account Of the
purchase price of the property,
vi. In case any bidder after &C
ceptance of his bid by the Special
Master shall fail 20 comply within a
period of twenty days with any order
or the Court requiring or relating tC
The payment Of the balance Of he pur
chase price then the sums depcsiteo
by such successful bic Ter whether
in cash or by check, or represented
by bonds, will be forfeited as a pen
atty for such failure and will be a.,
piled to the expenses of rAsala and
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. If the Court
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 ct 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, incumDranc
es and charges against the said prop
erty and the receiver5nip Thereon &c
cording to their respective rank, dig
nifty and priority. No calm 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 there
shall be filed in said court within
firmation of 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 G. Piedmont Railroad Com
pany and the release of all right, ii
tie and interest in said property by
he Guaranty. Trust Company of New
York, as successor of the Morton
Trust Company. as Trustee, ami 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 dismantling prop
osition for Jess than the sum of Four
Hundred Thousand (S400,000, 00) dol
lars.
Dated this September s, 1919.
J. w. TALBERT,
Special Master.
Savannah 20