The New York herald. [volume] (New York, N.Y.) 1920-1924, 1920-10-22


nue. loa ," TO the center line OF the bioeH,
thence eastery along said center line OF
the block ~ thence soIsherly and parallel
with Madison Avenue 102' 80 10 the place
and VIII note the highest bid therefor.
I'D The Special Master VIII next offer
for sale separately and as entirety a.
farcel y all OF the real property N lareeIs
J and OF Article XII OF the said ds ,s
and IN Parcels J and hereof described
and VIII note the highest bid therefor
/ CO The Special Master will next offer
Tor sale separately and as an entirety rs
Parcel o, all Of the real property " Parcels
( X and ]. OF Article XII OF the said decree
and in Parcels X and l. hereof described,
and shall note TIE highest bid therefor
(R) The Special Msstar will next offer
for sale separately and as an entirety as
Parcel r. all OF the real property In Lot ;
o. '.-ticle VI OF the said decree and IN Lot 5
/ or the descriptive clauses hereof described
and VIII note the highest bid therefor.
(S) The Special Master VIII next otter
for sale separately and an entirety as
Parcel s. all OF the real property In Lot
Of Article VI of the said decree and IN Lot Lot
OF the descriptive clauses hereof descriped'
and win note the highest bid therefor. .
The present tenants OF the properly N "
Of the said decree and in IN" the similarly mum:
bered let's CT the descriptive clauses hereof
/ described shall be entitled to remove mere
| from such trade-fixtures as this Court may
| hereaftes determine within thirty days aitess
confirmation by this Court Of the sale OF
/ said lots respectively.
by intending bidders at the sale, suplecs
! % such reasonable regulations as the specias
AMOUNTS OF DEPOSIT REQUIRED TO
QUALIFY BIDDERS. UPSET PRICES.
! At the conclusion Of the bidding on ea ,.,
/ parcel the highest bidder shall deposit Win
\ the Special Master in respect of Parcel =
\ 81 900 and IN respect OF all other parcels
proSeS tb s"s sny 70 de pe Per maae By bid
/ der on any parcel containing real property
all OF which is included in another parcel.
! In the event he is the highest BIDDER lot
such other parcel, may be applied on ac-
count OF the deposit required for such o'her
parcel.
At the conclusion OF the bidding Par
cells b. and d. the Special Master win
! cancel sall the bids noted for such parcels
! est amount for the property in Lots ana
OF the descriptive clauses hereof ana OK
At the conclusion OF the bidding for Par
GELS II TO G. inclusive. the Special Master
WIN cancel all the bids noted for such par
| cells except the bid bids which give the
highest amount for the property in Lots Z
| TO inclusive, of the descriptive clauses
hereof and of Article vi OF the said de-
At the conclusion OF the bidding on Par
cells to r. inclusive. the Special Master
except the bid or bids which gives the high.
! est amount for the property in Lot OF
| ticle VI of the said decree described.
In case any bid noted as aforesaid for
parcel which includes all Of two or more
| for such included parcels the bid noted on
such inclusive parcel shall be deemed the
higher.
oept all the bids noted which have not been
Cancelled hereinbefore provided, and VIII
! 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 70 the
property included IN Parcel A, II the bid
therefor shall not equal or exceed the sum
of 81, SOC. 900 the Special Master will adjouru
the sale OF the property included In such
- ...fT les re for
Their Instructions in respect thereto.
Any deposit received from an unsuccessful
conclusion of the bidding. The deposit re-
ceved from the successful bidder or bid
ders viii upon confirmation by the Court
~ his or their bid be applied on account of
the purchase price of the property.
In case any successful bidder upon the
acceptance of his bid shall fall to comply.
| within the period OF twenty DAYS after thu
entry thereof, with any order OF this Court
requiring relating TO the payment OF tho
balance of the purchase price. then the
moneys deposited by such successful bidder
shall be forfeited as penalty for such rail-
the expenses OF resale, and toward making
good any deficiency or loss In case the prop
eriy In respect OF which such sugcesstui
bidder shall make default shall be sold a. n
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 accepted
by the Special Master. and upon the comins
in OF the Masters report viii confirm Q,
|
offered for sale hereunder.
II the Court shall deny an application "a
confirm any sale. the deposit made by any
suecessf,l bidder AZ such sale will thereupor
be returned TO such bidder.
PAYMENT BY PURCHASER.
Upon the confirmation Of any sale. tbs
nurchnser shall make such payment or pay
mcnts in cash and FOR in ouch other manner
and by the use OF such purchase money
mortgage or other securities on accoutt 81
tbe purchase price ms the Court may from
time n time direct upon notice 10 the parties
10 this foreclosure cause, provided. however,
Tint as 10 each Parcel the Purchaser shan
ny, he reouired TO pay more than 30 per cent
OF the purchase price in cash and may givs
a purchase money mortgage running LOT 10.
70 exceed three years az per cent per an-
The Court reserves the right 20 retake and
resell upon such notice as the Court may
d,rect any property sold 20 any purchaser In
case such purchaser shall fan or omit 20
make any payment on account OF We unpas1
balance OF the purchase price WITHIN tTehty
DAYS after the entry Of the order requiring
,nrshaser shall not be required 20 see
| 90 .he application OF the purchase money.
nor he answerabe In any manner whatso-
ever for any loss, misapplication or non
application OF any such purchase HioneS Va
OF any part thereof
nrsAvowAL or CONTRACTS AND RE-
LECTION or PROPERTY BY
PURCHASER.
Anv purchaser OF the property hereinbefors
, dcscffbed or OF any parcel thereon, ana
| ,rhether or not he has exercised OF ustu
I rights thprounfNfs SNAIL nav lIt' tibHh
within six months after the delivery OK
f,ba deed or other Instruments OF convey
ance or transfer by the special master ot
81. nroperty purchased by him, or within
| s,,r, additional period rs the Court may
| hereafter by It's order or decree permit. "a
| L., not 10 nsgume or adopt any leass
| ~. contract made By the defendant Railways
| r-ounanv which Is part OF the property
/ s,,,braced I'm such deed or Instruments %
/. | conveyance or transfer. such erection sna !!
he made by instrument IN writing, titnea
nv The SAID purchaser and shall contain a
,,ss,crol ABSORPTION OF the contracts or leases
/ ',trb lao elects not 10 assume or adopt. and
,,,au no filed with the Clerk or the District
. s.o,,rt ~ the United states for the Southern
/ r,ts.rtet 81 New York within the aforesaid
pptratfon of said period shall be deemed "a
frci',Jr tho purchaser IN respect OF such
| lection and upon the filing OF such election
Ia .,,,rchaser shall be deemed not 10
have assumed or adopted ths faia cohtracts
~ tcasea or rights therein described nor 20
~ hound by the OBLIGATIONS or said con-
/ .,,tq or lenses; provided however, that
I s-~b election shall not entitle the said pur-
| eSoecr 10 any reduction IN the amount Of
the bid made ~ said sale or ~ amounts 20
Anv purchaser Of the property described
g. .b,s decree, or OF any parcel thereof.
srau have tho right 10 elect not 70 take
~ accept any part OF the property 80 sold
10 such purchaser. by written notice OK his
election given 20 the Special Master az
~, fifne prior to the execution and delivery
- 40 aeed or other Instruments OF convey
/ anre or transfer by the Special Master. NO
s,,ch election by a purchaser, hts successors
- asatrn~ shall diminish or affect the pur-
/ ,rhe dcrds or instruments OF conveyance or
! .-a,,s er 10 be given by the Special Master.
[ ne Rrceiyer the defendant Railways Com
pany, and Guaranty Trust company OF New