The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-11-02

son Avenue and running thence "esssl,y
thence northeriy parallel with Madison AVE-
nue. 1922 ." 10 the center 'ins OF the Dl"S
,h eh b, eazleriy along. sa,e and paraiisl
with Madison Avenue l02' 2" to the plscs
and WIN note the highest hid therefor.
(P) The Special Master will next oifer
FOR sale separately and n an enlLsy
and OF Article es XII XII Of tie said decree
and In Parcels and NJ hereof aeser 'oSu'
and WIN note the highest BID mercer ere. offer
FOR sale separa,eiS and az an snuI ,sy,1,
Parcel al q ne rial properly IL f sse9ss
and In Parcels X and L hereof deHcilpeo'
and shall. note TIE highest bid therefor
Or! The Special Master win s nsHs 2nss
( Parcel r. all OF the real property IN Lot 3
Of Article vi OF the said decree and In LEI >
and win note the highest bid therefor.
80 The Special Master will next otFer
for sale separately and as an enilrey
! ~ Article VI 4 the said decree and In Lot y
OF the descriptive clauses hereof desc'iDsu'
and viii note the highest bid therefor. =,
The present tenants OF the properly u, IN
Lots 2. 3. 4. 8. 9. and OF Article "
OF the said decree and IN the similarly nuil
bered let's Ct the. dc scriptive clauses nereos
described shall hs entitled TO move there-
from such trade fixtures mis- Court rnay
hefeaftef determine within thirty days altes
confirmation by this Court of the sale OF
said lots respectively
The property TO be- sold may be inspected
by int idng bidders at the safe, s soScI.s
70 such reasonable regulations as the SpeciA'
Master may prescribe. .,,-r,r, IN
QUALIFY BIDDERS. UPSET. PRICES.
! At the conclusion OF the bicding on eacn
parcel The highest bidder fhall dsp9sr VT
the Special Master IN respect OF Parcel -
$1,000 and n respect OF all other parcels
an amount equal 10 five per cent OF his bin,
der on any parcel containing real property
all Of which "a included IN another parcei.
IN the event he Is The hiFheaf ninc or a ao.
parcel.
At tho conclusion OF the bidding % Par.
cels y. c md y, the Special Master VIII
: cancel MI the bids noted for such parcei5
except tho bid or bids which give the high.
( est amount for the property IN Lots enc
/ ~ the descriptive clauses hereof ana OF
Article VI 81 the said decree described
/ GELS r to G inclusive. the Special Master
/ VIII cancel ali the bids noted FOR such par
highest amount for the property IN Lots
! to inclu~lve, Of the descriptive clauses
hereof and. OF Article VI Of the said de-
] ~ the conclusion Of the bidding OF rar-
cel3 J TO y inclusive. the Special Mast,r
except the bid or bios which gives the nign.
I est amount for the property IN Lot OF
I ticle VI OF the said decree described.
In case any BID noted az aforesaid for =
parcel which Includes all OF two or more
for such included parcels the bid noted on
such inclusive parcel shall be deemed tina
higher.
The Special Master VIII Professionally
. 'pt al the bid" noted which have no. oeen
Cancelled as hereinbefore provided. ard VIII
,be cor % 50 sig W. sae
being hereinafter referred to az successful
bi4deral: except that IN respect 70 tns
theretor ehsll no, equal or exceed the sum
Of s2.5ooooo the Special Master VIII sdjouru
ther Instructions in respect thereto
Any deposit received from an unsuccessful
bidder WIN be returned 70 him upon tic
conclusion Of tire bidding. The deposit re-
( ceved from the successful bidder or bid-
ders VIII upon confirmation by the Court
OF his their bid be applied on account OF
the purchase price Of tho property. -.
acceptance Of his bid shall fan to comply,
Within the period Of twenty daya after 'ha
entry thereof. with any ordsr OF this Court
balance of the purchase price, then the
moneys deposited by such successful bidder
s ur a Se sha Se apeS 10 he o paeni," o
the expenFes OF a resale, ard toward making
good any deficiency or loss IN case IN pr.p,;
bidder shalt make default shall be sold AT
less price such re ale, and n such other
purposes as this Court may direct.
reject any or all ~ids Professionally accepted
by the Special Master. and upon the cor,lts
reject snch bids IN respect to each parcel
offered for sale hereunder.
| II the Court shall deny application 20
confirm any sale The aercalt made by Any
successful bidder at such aale viii ihereupcn
be returned 60 such bidder.
PAYMENT BY PURCHASER.
Upon the confirmation ~ any sale. tho
| purchaser shall make such payment or pay
rnents In cash and Tor In such other manner
| nortcsre or other securities on account %
the purchase price as tho Court may from
time 20 time direct upon notice to tie parties
I TO this foreclosure cause, proNidca, however!
\ that as 70 each Parcel the Purchaser sfall
not b. required 10 poy more than 20 per cens
OF the purchase price In cash and may glNa
| n purchase money mortgage running for nos
/ TO exceed three years az per cent per an
Tie Cow, resaryer the right to'rc'ake and
-csrll upou such notice nc the Court nay
diroct any property sold 90 any purchaser IN
caae auch purchaser shall fan o. omit -
I make any payment on account OF TIE unpa
balance OF The purchase price withln twsn ,y
! dave after the entry OF the order requiring
a rgrcha~er shall not be required TO sea
uo- IL H. applrwrrsbie IN any manner whatso-
/ ever for any loss. niiTnpplicafion or nom
application 81 any such purchase money OF
OF any part thereof.
DIsAvowA1. OF coNTRAcTs. AND RI
| LECTION or PROPERTY by
PURCHASER.
ANY purchaser o. ne nroper'y . hsrsiros,ors
! whether or not he has exercised or used
any rights hereunder. shall have The right.
/ Within six months after the delivery or
! he aeed or other Instruments Of convey
| ance or transfer by the Special Master OF
| the property purchased by him, or within
| such additional period as the Court may
/ hereafter hy It's order or decree permit, 70
| elect not 10 assume adopt any lease
/ nv contract made by the defendant Railways
Company, which f. nar, OF the properly
l cubracCd IN such deed or Instruments 81
Z copvryance or transfer. Such election shall
I bc made ~ instrument IN writing. signed
I bv fhc said purclR9er and shall contain n
general description 81 the contracts or leases
I ,,iich ne elects not 20 assume or adopt, ard
/ shnu be filed with tie Clerk OF the District
! Court OF the United states for the southern
T,is,-irt OF New York within the Aforesaid
! period No uher OF rights prior 20 the ex-
ni-ation OF said period fhall be deemed 70
/ conclude the purchae1r N respect " such
I election. ard upon the filing OF such election
/ said purchag ser shall be deemed not 10
haze aef,frned or adopted the aaif contracts
I or ieasrs or rights therein described nor 10
b. bound 10y the ohiraflous OF seid con-
tracts or leases. provided, however. hat
ciaacr 60 any reduction IN tho amount of
me hid made AZ said sale or in amounts 70
+ II. rad y In this decree provided.
ANY purchaser OF the property described
Z 4, this decree. or ~ any parcel thereof
/ .bnii have tile right 20 elect NOT 70 iaks
/ ~ such purchaser. by written notice Of hi,
election given 20 tie Special Master az
anv time prior 70 the execution and delivery
- .he deed or other instruments Of convey
ance or Transfer by the Special Master. No
guch election by a purchaser, bis succesrors
I % aasIrna shall diminish or affect the pur.
/ chase price 20 be paid by such purchaser.
( The deeds or instruments Of rouveyanre or
| ,rarsfcr TO bc given by the Special Master
l the Receiver. the defendant Railways COM