The New York herald., 1921-05-12
p0RECLOsuRE SALE


and to the amounts which would be required
under the foregoing clauses la, (b) and fcl
in order 10 qualify the bidder 10 bid fol
said property when offered IN said parcels.
In lieu OF the deposit OF bonds and cou-
p0hs In accordance With the requirements
OF any of the foregoing clauses, the Special
Master may accept me % sertitieste OF Ger
stitution, trust company, or banking firm
acceptable to the Special Master, that Il
holds subject ia the order 81 The Special
Master bonds OF thu required character in
bearer form, and, II III coupon form, ac-
conpanied By the requised coupons.
The deposit made by any bidder for n
separa parcel may 80 far as applicable he
applied on account of The deposit required
70 be made IN order e qualify him TO bid
for the same property when offered for
sale with the other property as an entirety.
ANY deposit received from an unsuccessful
bidder shall be returned to him when the
property shall have been struck Off The
deposit received from the successful bidder
or bidders shall be applied on account of
In case any bidder. upon the acceptance
OF hts bid by the Special Master. shall fail
to comply within the period OF twenty days
after the entry thereof, with any order
Of said Court requiring or relating TO the
payment of the balance of the purchase
price, then the moneys or bonds deposited
hy such accepted bidder. az herainbefore
provided, win be forfeited as penalty for
sVch failure and win be applied 10 the pay
ard naking good any deficiency or loss, In
case the property in respect of which such
accepted bidder shall make oefault. shall
be sold at less price on such resale and
to such other purposes as said Court may
direct
III said Court shall deny an application TO
confirm any salt, the deposit made by any
accepted bidder at such sale shall thoreupon
be returned TO such bidder.
No minimum price Is fixed by said decree
q foreclosure and sale for the property 10
be sold or any parcel thereof; but said Court
has reserved full power and discretion TO
reject any bid or bids which in its Judgment
shall ba subject TO lust objection.
Every sale under said decree shall be
Ill Upon the confirmation of any sale
the purchaser shall make such payment or
payments in cash on account Of the purchase
price as said Court may from time to time
direct.
So much of The purchase price as may not
be REQUIRED ny the Court TO be paid In casn
may be paid ir cash. Or tie purchaser hlaf
satisfy and make good the balance OF his bid
in whole or in part by delivering TO the
as hereinafter provided, the bonds and cou-
pcr.a to he paid out Of the proceeds OF SAFE
on distribution thereof as set forth In satf
against the Suburban Company. or against
the Pawtuxet Company. OF against the
Cumberland Company, which have been or
may be allowed and established In said con-
soidated cause. said constituent cau1es,
and are to be paid as provided In Article
xxVI of said decree OF foreclosure ana
account of the purchase price OF the property
by him purchased, for all such bonds AMI
COUPONS and for all Fucn allowed ClaiT1E SO
delivered 10 the Special Master In part pay
mont of the purchase price. with such sur:s
as would be payable in respect OF sucl
bonds, coupons and claims out of the pro-
ceeds CT the sale or sales made pursuant 20
said decree of foreclosure and sale If tie
whole amount OF the purchase price were
paid in cash.
". Any purchaser al any sale under said
decree Of foreclosure and sale shall take The
property purchased BY him and receive the
deed or deeds therefor subject 70 all ta%es,
assessments, and other public charges
chargeable upon such property for which which
such purchaser is made 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.
The purchaser of any property by sale
decree of foreclosure and sale directed to be
sold shall also. as 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 conveyanc
and transfer thereof upon the express con
diton that he, his successors or assigns,
shall pay satisfy and discharge:
(a) Any Indebtedness. obligations. or liza
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 1886 pending as aforesaid in tht
Superior Court OF the State Of Rhode island
In the discharge OF their duties such re-
ceivers 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
been or shall be admitted by the parties ii
interest or adjudged by said Court to be prior
in lien superior In equity TO the Subur-
ban Mortgage;
(c) Any unpaid claims of creditors OF the
defendant Pawtuxet Company which have
interest adjudged by said Court TO be
prior In lien or superior In equity TO the Paw
tuxet First Mortgage;
Cd) Any unpaid claims of creditors of the
defendant Cumberland Company which have
been or shall be admitted by the parties II
interest or adjudged by said Court TO b'
prior In lien superior In equity to the
Cumberland First Mortgage
to the extent that they shall not have
been paid ont of any moneys in the pos
session OF said receivers.
The Court reserves the right In case TIN
sale directed to be sold shall be sold to diff
ferent purchasers 10 apportion as betweeT
the parcels the liabilities ard other itemi
mentioned in the foregoing subdivisions "a
10 Cdo inclusive and 10 charge against thu
! respective parcels their proper proportion o
such liabilities and other items.
V. By said decree OF foreclosure and sal,
said Court reserves for it's future adjudica
( tiou all questions not disposed OF by said
decree of foreclosure and sale.
I For further particulars reference Is hereb!
I made 20 said decree of foreclosure and sah
and said fiual order OF sale. and to III
( records in said Consolidated Cause No. 1886
/ and IN the constituent causes consolidate,
! into said Consolidated Cause. The attention
OF intending purchasers IS also called to th'
/ advisory statement or statements to be fe'
I v 18th the Clerk Of said Superior Court of III
state OF Rhode Island prior to said sale pur
4 susut TO the provisions Of Article NNI o
/ said decree Of foreclosure aud salt. Fur
ther Information may also he obtained upoi
application 10 the undersigned.
u Dated at Providence, Rhode Island. May 10
! 1921.
/ ARTHUR 4. THOMAS. Standing Master Il
Chancery. and Special Master as afore
4 said.
4 RICHARD B. CoMsTOCK.
Providence, IT. ].
! EDWARDS & ANGELL,
Providence. r. /.
] t,AnIrs, 4.