New-York tribune., 1920-10-05
LEGAL NOTICES

to) The Special Master will next offer
lor sale separately and an entirety a.
Parcel o. the following part or portion OF
Of the rsal sa2 R2I9RsTy sas. in 10, % Of ATis.
serlptive clauses hereof described. viz: .
Az those certain lots. pieces or parcels
OF iand with the buildings and improve
ments thereon situate, lying and being
IN the City and County of New YORK.
ana bounded and described as follows:
,'EeI$NINe al a point on the northeriy
Side of s5th Street 145, westerly from
shs sas, 'ns,erssction Of the northsry side o.
son Avenue and running thence westerly
along . the herly side OF s5th Street 7s'.
,nenee nor'neriy parallel with Madison
Avenue loZ' 2~ to the center line of the block.
thence eastsrly along said center line OF
the block -. thence southeriy and parable
with Madison Avenue lo2' ?" 20 the place
o1 teginning
and VIII note the highest bid therefor.
fP) The Special Master will next one-
Parcel 2. ali Of the real properly in parccls
J ana OF Artic.e Xii Of he ..aa 'I.crss
and in Parcels J and VI hereof describea.
ana "a viii mo, note the highest bid therefor.
for sale separately and as entirety
Parcel g all Of the real property in Parcels
and in Parcels X and L hereof described
and shall note the highest bid therefor
tR) The Special Master will mex, offer
for sale separately and entirety
Parcel r, all Of the real property IN I.o, s
OF Article VI of the said decree and Il.
described. and viii ncte the highest bid
therefor
80 The Special Master will next oros
Parcel 5; all Of the real property in 10,
OF Article VI. Of the said decree and in
Lot OF the descriptive clauses hereo>
therefor
Lo5s :. 3. 4, 5. 8, and . Of Articls Il Of the
sand decree and in the similarly numbered lots
of the descriptive clauses hereof described shall
trade fixtures this Court may hereafter
de errane within thirty days after conhrma-
respectively
The property. 70 be sold may b. inspected
by intending bidders at the sale. subject
70 such reasonable regulations as the Sps-
c-a. Master may prescribe.
AMOUNTS OF DEPOSITS REQUIRED ro
QUALIFY BIDDERS. UPSET PRICES
A. the conclusion OF the bidding Oh each
parcel the highest bidder shall deposit with
the Special Master in respect OF Parcel A
$4,000. and in respect OF all other parcels
an amount equal to five per cent OF his bid.
provided that any deposit made 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 FOR
such other parcel. be applied on ac-
count OF the deposit required for such other
At the conclusion of the bidding on Par
cells ., and d. the Special Master will
cancel all the bids noted FOR such parcels
except the bid or bids which give the high
est amount for the property in Lots ana
OF the descriptive clauses hereof and Of
Artlcle Vi OF The said decree described.
Al the conclusion of the bidding for Par
GELS Z 10 q inclusive. tho Special Master
VIII cancel all the bids noted FOR such par
cells except the bid or bids which glvc tbs
, highest amount for the property IN Lots
to : inclusive. Of the descriptive clauses
hereof and OF Article VI OF the said de-
cree desepibed.
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
,, parcels shall equal the sum OF the bids noted
for such included parcels the bid noted on
such inclusive parcel shall be deemet the
The Special Master will professionally ac-
r oept an the bids noted which have not been
; report the bids Professionally accepted to
{ being hereinafter referred 10 as successfu!
bidders); except that IN respect the
property included in Parcel A, II the hii
dheretor s5 or shall not equal or exceed the sun,
, the sale of the property Included In suos-
! parcel and will apply TO the Court for further
; instructions IN respect thereto.
Any deposit received from an unsuccessfu5
bidder VIII he returned to him upon the
r conclusion Of the bidding. The deposit re-
5 oeived from the successful bidder bid
4 ders Will upon confirmation by the Court
I Of his or their bid be applied on account Of
any 9i Hi SGSer upon
: within the period Of twenty isys af.er i'''1 TIE
. entry thereof with any order of this Court
requiring relating the payment Of the
j balance OF the purchase price. then the
moneys deposited by such successful bid
der shall be Forfeited as a penalty for such
; failure, and shall be applied to the payment
making good any deficiency or loss in ease
The property in respect of which such sue
cessful bidder shall make default shall he
sold az a less price on such resale. and to
! such other purposes this Court may
direct.
The Court reserves the right to confirm
or reject any OF all bids Professionally ac-
copted by the Special Master. and upon the
coming in Of the Masters report win con
firm reject such bids in respect 10 each
parcel offered for sale hereunder
II the Court shall deny an application to
confirm any sale. the deposit made 10y any
successful bidder such sale Will there-
upon be returned to such bidder
PAYMENT BY PURCHASER
Upon the confirmation of any sale. the
purchaser shall make such payment pay
ments in cash ana or in such other man
ner ana by the use Of such purchase money
J mortgage or other securities on 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 each Parcel the Pur
= chaser shall not be required to pey more
than 80 per cent Of the purchase price in
cash and NAV give a purchase money mort
gage running for nor TO exceed three years
. at per cent per annum FOR the balance.
The Court reserves the right TO retake
may direct any property sold 70 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
within twenty days after the entry or ths
order requiring such payment.
purchaser shall not be required to SIS
10 the application OF the purchase money,
nor lie answerable in any manner whatso-
ever for any loss. misepplication or non
8 application Of any such purchase money or OF
? any part thereof.
DIsAvowAL OF CONTRACTS AND RE-
: LECTION OF PROPERTY BIT
? PURCHASER.
Any purchaser OF the property hereinbsfsre
- described. or OF any parcel thereof. and
whether or not he has exercised used
: any rights hereunder. shall have the right.
within six months after tho delivery of
the iced or other instruments of convey
arce or transfer by the Special Master of
, the pronerfy purchased by him. or within
q such additional period as the Court may
hereafter by IT'S order decree permit. TO
4 elect not assume adopt any lease
a or contract made by the defendant Railways
Companv which * part OF the property
embraced ia SUCH deed or Instruments of
conveyance or transfer. Such election shall
be made By instrument IN writing. signed
hy the said purchaser and shall contain
e general description Of the contracts leases
shall Dc fled with the Clerk OF The District
Court f ne United States for the Southern
: District of New York within the aforesaid
period 10 User Of rights. prior 10 ,he
y piratlon Of said period shall be deemed
1 10 conclude The purchaser IN respect Of such
election and upon the filing Of such cleo
y tion said purchaser shall be deemed not