The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-06-02
FORECLOSURE SALE.

| Inc Speclhl MASTER VIII tnen Otter Tor Sales
| in one lot and as an entirety. all the prop
erty described In Article XXNIV and ArticIs
! XXXV and Article XXXVI of said decree
| (being parcels A. and @, and previously
offered for sale, and Will note the highest
| bid therefor
! II the highest bid received for the whcis
of said property. when so offered for sale
as an entirety, shall equal or exceed ths
aggregate OF t,;e several highest bids there
| for, when offered for sale in separate Pa
cells az hereinabove provided, then the Special
Master will accept said bid and strike off all
/ said property as an entirety TO such bidder
subject TO confirmation OF the sale by thu
court. II, however the highest bid received
for said property. when offered as an en-
tirety, shall be less than the aggregate
amount OF tho several highest bids for said
property. when offered In separate parcels a
hereinabovc provided. then the Special Mas
ter will accept the highest bid received for
each parcel OF the property. when offered
separately as aforesaid, and will strike off
the same to such bidder subject to confirma-
ton OF the sale by the Court.
II. In making said sale. the special Master
will accept no bid from any bidder who shall
not. prior to the day of sale. deposit with
the Special Master, a pledge that he will
make good his bid In the event of Its ac-
ceptance:
(al In the case OF the property subject
10 the lien of the Pawtuxet First Mortgages
decree of foreclosure and sale (being Parcel
Al tho rum of fifteen thousand dollars III
cash, or by certified check on some national
bank or trust company In the City of New
YORK or In tho City of Providence acceptable
10 the Special Master, and made or endorsed
bidder thirty-five thousand dollars principal
amount OF Pawtuxet First Mortgage Bonds
companied by the coupons due July. 1, 1919.
and subsequently. may be deposited In lieu
of cash Such deposit may be partly in cash
or by certified check and partly In said
Pawtuet First Mortgage Bonds. but in tho
same relative proportions:
lien of the Cumberland First Mortgage and
described in Article XXXV of said decree of
foreclosure and sale (being Parcel b ths
sum Of five thousand dollars In cash. or by
certified check. as aforesaid At the option
of the bidder twelve thousand dollars priDci-
pal amount of Cumberland First Mortgage
Bonds In bearer form may be deposited In
lieu of cash Such deposit may be partly in
cash or by certified check and partly in said
Cumberland First Mortgage Bonds but In tbs
same relative proportions
(c) In the of ;ne property subject to
the lien OF the Suburban Mortgage and de-
scribed in Article XXxvI Of said decree OF
foreclosure and sale (being Parcel o. tha
sum Of thirty five thousand dollars In cash.
option of the bidder one hundred thousand
dollars principal amount OF suburban Bonds
IN nad t ny a n,nnns s 1%
and subsequently. may be deposited In lieu
OF cash. Such deposit may be partly in
cash or by certified check and partly In
said Suburban Bonds but In the Same reIa-
tive proportions:
(d) In the of the property described in
Article XXXvI OF said decree of FORECLOSURES
and sale (being Parcels A, B and CO. as an
m cssS or Sv e,.en such
or the aggregate of bonds OF the character
and to the amounts which would be required
IN order er' to qualify the Bidder To- sS }os
said property when offered In said parcels.
pons in accordance with. the requirements
Of any of the foregoing clauses. the Special
"a anS sov she Sanh Banking
acceptable to the Special Master. That i
Master bonds Of the required character IN
bearer form. and. II in coupon form. ac-
companied by the required coupons.
The deposit made by any bidder for y
separate parcel may so far as applicable be
applied on account Of the deposit REQUIRED
for the same PROPERTY when offered fcf
sale with With. the other property as an sntirstyI
Bidder shall BE- returned to him when Ii:
property shall have been struck OF, The
deposit received from the euccessful bIcdef
tho purchase prica of the properly.
his BID Sy tss s sS is
Of said Court requiring e' or reiatins TO the
price. then the money. or bonds deposited
by such accepted bidder, as hereinbefore
rss su w and % w ss spS
ard making soSd any deficiency or loss. r.
accepted bidder shall make default. shall
be sold at a less price on such resale and
to such other purposes az said Court may
Il. said Court shall deny an application to
accepted bidder at such sale shall thcreupon
be returned to such bidder.
price + f IKE By said deere:
os or but as
shall be subject to Just. objection
Every sale under said decree shall be
III. Upon the oonfirrnstion Of any sale
the purchaser shall make such payment OF
~ s.sn u on gT 1i tine tno % s
direct.
So much OF the purchase price as NAY net
may Ss paid II csaS or the purchaser may
in wRois or in part By deiiysrins 70 u.
as hereinafter provided. the bonds. and. oou-
pons to be paid out of the proceeds Of sale
IL aa as
against the Suburban Company. or against
the pswt1et Company or sssiP Sssn tho
may be allowed and established In said cor
solidatcd cause. or said constituent causes.
XVI Xxx ' Of = said - decree q Foreclosure and
sale. The purchaser will be credited, on
Sm for ali such @
COUPONS and for all such allowed claims so
delivered to the Special Master In part pay
as would be payable IN respect OF such
bonds, coupons and claims out OF the pro-
| ceeds CT the sale or sales made pursuant %
| said decree of foreclosure and sale. II the
whole amount of the purchase price were
| paid In cash.
" ANY purchaser at any sale under said
decree Of foreclosure AID sale shall take the
| property purchased by him and receive the
deed or deeds therefor subject 70 all taxes.
/ assessments.
| chargeable upon such properly for which
| such purchaser Is mace liable and which
such purchaser IL required 70 pay by. the
! laws Of the State of Rhode Island in force
! at the time OF such sale.
! The purchaser OF any property by said
decree Of foreclosure and sale directed TO be
| sold shall also. part of the consideration
/ for and OF the purchase price or the PROP
/ erty purchased, and In addition TO the sum
| bid therefor, take such property and receive
| the instrument or instruments OF conveyance
| and transfer thereof upon the express con-
/ shall pay satisfy and discharge
(a) Any Indebtedness, obligations. or lia-
bilities OF the receiver of the Pawtuxet Com.
pany and Of the receiver OF the Cumberland
Company and OF the receiver OF the Suburban
\ Company duly incurred In the causes hereto.
\ fore consolidated into said consolidated
cause No 1890 pending aforesaid In the
! Superior Court OF the State OF Rhode Island
| ceivers between the date OF their appointment
/ and the date OF the delivery by them OF pos
session OF the property sold:
/ (b) Any unpaid claims Of creditors Of the
been or shall be admitted by the parties IN
interest or adjudged by said Court 20 be prior
| IN lien or superior In equity TO the Subur-
ban Mortgage
lc) Any unpaid claims Of creditors Of tn.
| defendant paWtuxet Company which have
/ heen shaI he admitted by the partiea IN