New-York tribune., 1920-10-01
LEGAL NOTICES


for sale separately and as an entirety a.
Parcel o. the following part or portion OF Of
M s' the real aoS In and Lot % OF Of hs de
soriptive clauses hereof described. viz:
All those certain lots pieces or parcels
OF land with the buildings and Improve
ments thereon as situate lying and being
In the City and County OF New York
and bounded and described as follows:
side Of S5th Street 145> westerly from
the intersection OF the northerly side OF
son Avenue and running thence westerly
along the northerly side OF s5th street 10.
thence northeTy parallel Win Il, M Mads9n h1noh
thence eastcrly along said center line OF
the block 75'. thence southerly and parallel
with Madison Avenue 1922 2" to the place
and Will note the highest bid therefor.
P) The Special Master will next ofrer
| for sale separately and an entirety as
J and NJ OF Article XII Of the said decree
and will note the highest bid therefor
(Q) The Special Master Will next ofrer
for sale separately and as an entirety Mt ret "a as
X and l. Of Article XII OF the said decree
and in Parcels X and L hereof described
| and shall note the highest bid therefor.
(R) The Special Master will next offer
Parcel R, all of the real property in Lot 8
| Lot of the descriptive clauses hereof
described. and will note the highest bid
(S) Tho Special Master will next offer
for sale separately and as an entirety as 8
s. all of Of the sbs real GecTse In and mp
Lot 9 Of tho descriptive clauses hereof
described, and will note the highest bid
| therefor.
Lots 2. :. 1. s. s, I and of Article vi of the
said decree and in the similarly numbered lots
| of the descriptive clauses hereof described shall
trade -hxtuTey as this Court may hereafter
tion by this Court OF the sale OF said lots
The property to be sold may be inspected
by intending bidders at the sale, subject
to such reasonable regulations as the Spe-
clal Master may prescribe
AMOUNTS OF DEPOSITS REQUIRED TO
QUALIFY BIDDERS. UPSET PRICES.
At the conclusion of the bidding on each
parcel the highest bidder shall deposit with
the Special Master in respect of Parcel A
$1,000 and in respect of all other parcels
an amount equal to five per cent Of his bid
| der on any parcel containing real property
all of which is included in another parcel
In the event he is the highest bidder for
count OF the deposit required for such other
parcel
At the concl sion of the bidding on Par.
cancel all the bids noted for such parcels
except the bid or bids which give the high
est amount for the property In Lots 2 and
3 of the descriptive clauses hereof and of
Article VI of the said decree described.
-; At t the conclusion OF the bidding for Par
will cancel all the bids noted for such par
cells except the bid or bids which give the
highest d for the the In Lots
hereof and of Article VI of the said de-
cree described.
At the conclusion OF the bidding on Par
will cancel all the bids noted for such parcels
except the bid or bids which gives the high.
est amount for the property. in Lot of
the descriptive clauses hereof and Of Ar
| ticle VI of the said decree described.
In case any bid noted aforesaid for a
parcel which includes all of more
parcels shall equal the sum Of the bids noted
for such included parcels the bid noted
such inclusive parcel shall be deemed the
| higher.
The Special Master will Professionally ac-
cept all the bids noted which have not been
report the bids so professionally accepted to
the court (the bidders making the same
being hereinafter referred to as successful
bidders); except that In respect to the
property included in Parcel A, If the bid
therefor shall not equal exceed the sum
of $4,000 900 the Special Master will adjourn
the sale of the property included in such
parcel and will apply to the Court for further
| instructions in respect thereto.
Any Any deposit o received from an unsuccessful
conclusion of the bidding: The deposit re-
ceived from the successful bidder bid
derss will upon confirmation by the Court
!
In case any successful bidder upon the
acceptance of his bid shall fail to comply,
within the period of twenty days after the
entry thereof, with any order of this Court
requiring or relating to the payment OF the
balance of the purchase. price. then the
moneys deposited by such successful bid
der. shall be Forfeited as penalty for such
failure and shall be applied the payment
of the expenses of a resale, and toward
making good any deficiency loss In case
the In respect Of %hch such sue &C.
sold at less price on such resale and to
such other purposes as this Court may
direct.
The Court reserves the right to confirm
or reject any or all bids Professionally &C
cepted by the Special Master, and upon the
coming IN of the Masters report will
parcel offered for sale hereunder
If the Court shall deny an application to
confirm any sale, the deposit made by any
successful bidder at such sale will there
upon be returned to such bidder.
PAYMENT BY PURCHASER.
Upon tho confirmation of any salc the
purchaser shall make such payment or pay
ments In cash and / or in such other man
mortgage or other securities account
Of the purchase price as the Court may
| from time to time direct upon notice to the
parties TO this foreclosure cause provided.
however. that as to each Parcel the Pur-
chaser shall not be required to pay more
than 80 per cent OF the purchase price in
cash and may give a purchase money mort
gage running for not exceed three years
at 6 per cent per annum for the balance.
The Court reserves the right to retake
and resell, upon such notice as the Court
may direct. any property sold ts any pur-
chaser in case such purchaser shall fail or
omit to make any payment on account OF
the unpaid balance Of the purchase price
order requiring such payment.
purchaser shall not he required to see
70 the application Of the purchase money
nor be answerabe in any manner whatso-
ever for any loss, misapplication non
application Of any such purchase money or OF
any part thereof
DISAVOwAL OF CONTRACTS AND RE
JECTlON OF PROPERTY BY
PURCHASER.
Any purchaser OF the property hereinbefore
described. or of any parcel thereof. and
whether not he has exercised or used
any rights Hereunder, shall have the right.
within six months after the delivery Of
the decd other instruments OF convey
ance or transfer by the Special Master of
/ the property purchased by him, or within
such additional period as tho Court may
hereafter by its order decree permit, to
elect not to assume adopt any lease
or contract made by the defendant Railways
Company. which Is part Of the property
embraced In such deed or Instruments OF
conveyance transfer. Such election shall
be made by instrument In writing. signed
by the said purchaser and shall contain q
general description of the contracts or leases
which he elects not TO assume or adopt. and
shall be filed with the Clerk of the District
Court of the United States for the Southern
district of New York within the aforesaid
period, No user of rights, prior to the ex-
piratlon of said period shall be deemed
conclude the purchaser in respect OF such
election, and upon the filing OF such cleo
tion said purchaser shall be deemed not TO
have assumed or adopted the said contracts
or leases rights therein described to