The New York herald., 1921-06-21
roREcLOsuRE SALE.

FORECLOSURE SALE.
In Article NXNvI of said decree. and win
note the highest bid therefor
The Special Master will then offer for sale.
in one lot and as an entirety, all the prop
erty described In Article NXxIV and Article
Ssns parcels a. and o. 11a
offered for sale. and will note the highest
bid therefor.
II the highest bid received for the whole
of said property, when so offered for sale
aggregate OF the several highest bids there-
for, when offered for sale in separate par
cells as 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 the
Court. II. however. the highest bid received
for said property, when offered as an en-
tirety, shall be less than the aggregate
amount OF the several highest bids for said
property. when offered in separate parcels as
hereinabovs 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
tion OF the sale by the Court.
II. In making said sale, the Special Master
will accept n bid from any bidder who shall
the Special Master. as a pledge that he viii
make good his bid in the event of Its ac-
ceptance:
to the lien of the Pawtuxet First Mortgage
and described in Article xXXIv of said
As the sum Of fifteen thousand dollars in
sk Soa or a . Sy 81 II ss city q s
payable. TO his order. At the option Of IN:
amount OF 'Pawtuxet First Mortgage Bonds
In bearer form, and. II coupon bonds. &C
and Subsequently. y' may be der Deposited In lieu
OF cash. Such deposit may be partly In cash
same relative proportions:
90 In case of the property subject to the
described in Article XXxv Of said decree Of
sum OF five thousand dollars IN cash. or by
certified check. as aforesaid. At the option
of the bidder twelve. thousand dollars prinei.
pal amount OF Cumberland First Mortgage
lieu of cash. Such deposit may be partly In
cash or by certified check and partly IN said
Cumberland First Mortgage Bonds but In the
same relative proportions:
(c) In the case of the property subject to
the lien of the Suburban Mortsage and dc.
scribed in Article xXxvI OF said decree OF
sum Of thirty five thousand dollars in cash.
. Of s dSs Of
companied BY the coupons dle July !: 1915.
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:
td) In the case Of the property described IN
Article XXXIX and in Article xxXv and IN
in cash. or by certified check. as Aforesaid.
and to ha 81 we would % ).
under the foregoing clauses Ga, (b) and {cD
IN rdsr te quality The bidder 70 bid
In lieu of the deposir OF bonds and cou-
pons in accordance with, the requirements
OF any OF the foregoing clauses, the Special
tIiicates of any solvent bank, 6snkins, In; q;
holds. Subject to to the % order Of the Special
Master, bonds Of the required character In
eompanied % Sf By the the required iou1H" eo%pons.
The deposit made by any bidder for .
separate parcel may so far as applicable b:
applied on account Of the deposit required
for the same m property when offered .or
sale with the other property as an entirety;
bidder shall be returned to him when the
property shall have been struck Off, Ths
deposit received from the sucssssfyl bidder
the purchase price Of the property.
In case any bidder. upon the acceptance
Of his bid by the Special Mas.er. shall fail
after the. entry thereof, with any order
Of said Court requiring or relating to- the
priee then the or o bonds dsposssd
by such accepted bidder. as hereinbefors
prcgdfsd win be f1rfsea cit pen1sy sS.
ment OF the expenses OF resale and tow
ard making good any deficiency Or losa. 10
accepted bidder shall make Gefauit. shall
be sold at less price on such resale and
direct.
II said Court shall deny al application TO
confirm any sale, the deposit made BY any
accepted bidder at such sale shall .hcreupon
be returned TO such bidder.
No minimum price Is fixed by said decree
Cf foreclosure and sale for the property to
has reserved full power and discretion to
reject any BID or bids which in its Judgment
Every sails under said decree shall be
subject tc confirmation by said Court.
III. Upon the, confirmation OF any sails
the purchaser shall make such payment CT
price as said Court may from time to tinls
direct.
so much of the purchase price may no.
be required by the Court TO be paid In casn
may be paid II cash or the purchases, a; r., MAJ .,y
in whole or In part by delivering to ths
Special Master. to be cancelled or credited
pons TO be paid out Of the proceeds OF sale
on distribution thereof as set forth In SAID
ssiss against the suburSsn Coz Company or asans
the Pawtuxet @ & Company; y,,o or ,ss against h u.
solidated cause, or said constituent causes.
and are to be so paid as provided IN Article
XNvI of said decree OF foreclosure and
account Of the purchase price Of the property
coupons and for all sucf allowed claims so
delivered to the Special Master in part pay
sh would of the paysS. m we CT
bonds coupons and claims out Of the pro-
cecds Ct the sale or sales made pursuant 70
whole amount OF the purchase price were
paid In cesh.
Nv. ANY purchaser at any gale under said
decree OF foreclosure and sale shall take The
property purchas sed by him and receive the
deed or deeds therefor subject to all taxes.
assessments, and other public charges
snslsSa1h snch purshaseT % Is suns msos liable and which
such purchaser Is required to pay by the
laws Of the state OF Rhode Island In force
at the time OF such sale.
decree OF foreclosure and sale directed to be
sold shall also. rs part OF the consideration
for and Of the purchase price Of the prop.
bid therefor. take such property and receive
the instrument or instruments OF conveyance
and transfer thereof upon the express con-
shall shall pay. 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 Cumeerland
Company and Of the receiver Of tho Suburban
Company duly incurred In the causes hereto.
fore consolidated Into said CONSOLIDATED
cause No. 1885 pending as aforesaid IN tins
Ss Of 81 shs ue. az such
ccivers between the date of their appointment
and the date OF the delivery by them OF pos
session of the property sold:
defendant Suburban Company which have