New-York tribune., 1920-10-12
LEGAL NOTICES

(O) Tho Special Master will next offer
nrcs FOR srl9 separaey and as an m en5TGty noroy Of
the real PROPERTY f, u'0r in w lot Of Article vi
of the said decree and in Lot of the de-
/ serptNe clauses hereof described. VIZ; .
An thoso certain lots, pieces or parccls
OF land with the buildings and improve
ments thereon as situate lying Nam and 9orH Se9s
and bounded and described az follows
dnreaTNiNg at point on the nor'9epy qrog
The Intersection Of the northery s'ue or
S@;. Street at the westerly side or Mec.-
son Avenue and running thence westerly
along the northery side Of Sbth street 10,
thence norherly parallel with Madison
Avenue 1O2' 2" to the center line of the BLOCK
the block 75' thence southerly and parallel
with Madison Avenue 1922 q to the place
of beginning;
and Will note the highest bid therefor.
lP) The Special Master viii next ofrer
for sale separately and az an entirety as
Tarce n al of the real property 1a In Parcels aSras
ana IN Parcels j and NJ hereof described,
and WIN note the highest bid therefor.
,o CO.. The Special Master Will next oHer
Tor sale separately and entirety az
Parcel @, all of the real property In Parcels
X and +. Of Article XII of the said decree
ana in Parcels * and l. hereof described
and shall note the highest bid therefor.
CR) The Special Master Will next oner
OF Article VI of the said decree and In
Lot OF the descriptive clauses hereof
therefor
Cs> The Special Master will next offer
Iof sale separately and as an entirety as
Parcel S. all of the real property in Lot 3
! Lot of the descriptive clauses hereof
described and Will note the highest bid
The present tenants of tho property in
lots Lots 2 g. a. 3, 6, and Of Article VI Of the
of the descriptive clauses hereof described shall
be entitled to remove therefrom such
trade-iixtures as this Court may hereafter
determine within thirty days after conf1rma
ton by this Court of he sale OF said lots
respectively
The property to be sold may be inspected
by intending bidders at the sale subject
to such reasonable regulations the Spe
cial Master may prescribe.
AMOUNTS OF DEPOSITS REQUIRED TO
QUALIFY BIDDERS. UPSET PRICES.
Az the conclusion of the bidding on each
parcel the highest bidder shall deposit with
the Special Master in respect of Parcel A
an amount equal to five per cent of his bid.
provided that any deposit made by a bid
all of which is included In another parcel,
in the event he is the highest bidder for
such other parcel may be applied on ac-
count of the deposit required for such other
parcel
At the conclusion Of the bidding Par,
cells =, { and D. the Special Master Will
cancel all the bids noted for such parcels
except tho bid or bids which give the high
est amount for the property In Lots and
Article VI of the said decree described.
At the conclusion of the bidding for Par
will cancel all the bids noted for such par
! cells except the bid bids which give the
highest o11'a;, amount for the property in Lots
/ cree described.
At the conclusion OF the bidding on Par
cells TO r inclusive. the Special Master
will cancel all the bids noted for such pa reels
except the bid or bids which gives the high.
4S for l,. In, nf
the descriptive clauses hereof and OF Ar
ticle VI of the said decree described.
parcel which includes all of two or more
parcels shall equal the sum Of the bids noted
for such included parcels the bid noted on
such inclusive parcel shall be deemed tho
The Special Master will professionally ac-
Cancelled as hereinbefore provided and viii
report the bids so professionally accepted TO
The court ,the bidders making the same
hiddersl except that in respect to the
property included in Parcel A, If the bid
of S2,500,000 the Special Master Will adjourn
the sale of the property included in such
parcel and Will apply to tho Court for further
instructions in respect thereto.
Any deposit received from unsuccessful
bidder WIN be returned to him upon the
oeived from the successful bidder or bid
ders 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
moneys deposited by such successful bid
der shall, he 'orfeited as a penalty for such
failure, and shall be applied to the payment
of the expenses of a resale, and toward
making good any deficiency or loss in case
the property in respect of which such sue
cessful bidder shah make default shall be
sold at a less price on such resale. and to
such other purposes as this Court may
The Court reserves the right to confirm
or reject any or all bids Professionally ac-
cepted by The Special Master. and upon the
firm or reject such bids in respect to each
parcel offered for sale hereunder.
confirm anv sale The denosit mad nv anv ~
successful bidder at such sale will there
uDon be returned to such bidder.
PAYMENT BY PURCHASER
Upon the confirmation of any sale. the
purchaser shall make such payment or pay
ments In cash and or In such other man,
ner and by the use of such purchase money
mortgage other securities on account
of the purchase price the Court may
from time to time DIRECT upon notice to the
parties to this forecl Seure cause provided
however, that as to each Parcel the Pur-
chaser shall not he required to pay moro
than 80 per cent of the purchase price in
cash and may give purchase money mort
gage running for not to exceed three years
at per. cent per annuln for the balance.
and resell. upon such notice as the Court
may direct any properly sold to any pur-
chaser in case such purchaser shall fail or
omit 10 make any payment on account of
me unpaid balance Of the purchase price
within twenty days after the entry Of the
order requiring such payment.
purchaser small not be required to see
10 the application OF the purchase money
nor be answera BILE in any manner whatso-
ever for any loss. misapplication nom
application Of any such purchase money OF
amy part thereof
DISANOWAL OF CONTRACTS AND RE
LECTION OF PROPERTY BY
PURCHASER.
Any purchaser of the property hereinbefore
described, OF OF any parcel thereof. and
whether or not he has exercised or used
any rights thcreunder, shall have the right
within six months after the delivery Of
ance or transfer by the Special Master Of
the property purchased by him. or within
such additional period the Court may
hereafter by its order or decree permit to
or contract made 10y the defendant Railways
Company, which is part of tho propertv
embraced in such deed or Instruments Of
conveyance or tiansfer. Such election shall
be made By instrument in Wls.ng signed
NF the said purchaser and shall contain
general description of the contracts or leases
Which ne elects not to assume or adOpt a nd
shall be filed with the Clerk of the District
District Of New York within the aforesaid
period. No user of rights prior to the ex-
piratlon Of said period shall be deemed
to conclude the purchaser in respect Of such
iion said purchaser shall he deemed not 10
have assumed adopted the said contracts
or lenses or rights therein described nor to
be bound hN the Obligations OF said con
election shall not entitle the said mn
chaser 70 any reduction in the amount Of