The Farmington times. (Farmington, St. Francois County, Mo.) 1905-1926, 1920-12-24

pany acceptable to SAID Special Mas
ter and payable to his order. Any de.
post so received from an unsuccess-
full bidder will be returned to him
when the property shall be struck
down. The deposit received from the
successful bidder or bidders will be
applied on account of the purchase
price Of the property.
! Nv. In case any bidder, upon the
acceptance of his bid by the Special
Master, shall fail to make good the
balance of his bid in the manner and
upon the terms described and defined
in said decree, or shall fail to COM
ply with any order of the United
States District Court for the Eastern
Division of the Eastern Judicial Dis
trict of Missouri requiring or relating
to the payment of the balance of the
purchase price, then the money depos-
tied by said bidder as aforesaid will
be forfeited as a penalty for such
failure and will be applied to the pay
ment of the expenses of resale and
toward making good any deficiency or
loss in case the property shall be sold
at a less price on such resale and to
such other or further purposes as
said court may direct. If said court
shall not confirm any sale the deposit
made by the accepted bidder at such
sale will be forthwith returned to such
bidder.
V. Neither any purchaser nor the
successors or assigns of any purchas-
err shall be required to see to the ap-
plication of the purchase money.
vi. Upon the acceptance of any
bid and the confirmation of the sale,
the purchaser or purchasers, his or
their successors or assigns, shall
forthwith pay the balance of the pur-
chase price in cash, or the purchaser
may pay so much thereof in cash as
may be necessary to pay the ex-
penses of this proceeding, the expens-
es of sale, and the allowances to par
ties, attorneys, officers, and other
persons to whom allowances may be
made, and may satisfy or make good
the balance Of his bid, in whole or in
part, by turning in to be paid and
cancelled, or to have payment on &C.
count credited thereon, first refunding
MOI tgage gold bonds of defendant of
the issue secured by said mortgag.
and the unpaid past due coupons ap.
pertaining thereto entitled to share in
the distribution of the proceeds of
sale, and such purchaser shall be
credited therefor on account of the
purchase price with such sums as
would be payable in cash on such
bonds and coupons to the holders
thereor OUT or the proceeus or safe 'ff
the whole amount of the purchase
price were paid in cash. The amount
Of such credit to which each of said
bonds and coupons will be entitled in
the event the same are turned in on &C.
count of the purchase price will be
computed and determined by the court
at the time of the confirmation of the
sale.
VII. Upon confirmation of the sale
and upon payment by any purchaser
or his assigns of the purchase price,
the Special Master will execute a deed
or deeds or other proper instruments
conveying, assigning and transferring
to sucn purchaser or his assigns, the
property sold to such purchaser, sub
ject, however, to the provisions of said
decree and upon the production of said
deed or other instrument or a certified
copy thereof, the grantee or grantees
therein named shall be let into the pos
session of the property so conveyed or
transferred and shall after such deliv-
cry of possession hold and possess the
property so conveyed and transferred
and every part and parcel thereof, free
and clear of all and every trust and in
fee simple, subject to the lien of GER
tain first mortgage dated Mcy l, 1905,
whereby the Mine La Motto Lead &
Smelling Company, defendants prede-
cessor in title, executed and delivered
to the Capital Savings & Trust Com
pany and John W. Donaldson, Trus-
tees, certain mortgage recorded in
the Recorders Office of Madison
County, Missouri, in book 81, page 1914,
and in the Recorders Office of St.
Francois County, Missouri. in book So,
pages 285 to 308, to secure the pay
ment of the principal and interest of
certain bonds dated May /, 1905, of
which issue bonds to the amount of
$130,000.00 are still outstanding, and
subject also to the lien of certain
second mortgage dated the LIST day of
August, 1909, whereby the said Mine
La Motto Lead & Smelling Company,
defendants predecessor in title, execu-
ted and delivered to the Capital Trust