The Farmington times. (Farmington, St. Francois County, Mo.) 1905-1926, 1921-01-07

Y
post so received from an unsuccess'
full bidder win be returned to hin
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 tho United
States District Court for tine Eastern
Division of the Eastern Judicial Dis
trictN 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 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 viii be forthwith returned to such
bidder.
v. Neither any purchaser nor the
successors or assigns Of any purchas-
er shall be required to see to the APP
plication of the purchase money.
vi. Upon the acceptance of any
bid and the confirmation of the sslu,
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
mortgage gold bonds Of defendant of
the issue secured by said mortgage
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
thereof out of the proceeds of sale If
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 ac-
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 deed
or deeds or other proper instruments
conveying, assigning and transferring
to such purchaser or his assigns, the
property sold to such purchaser, SUBJ
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 otter 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 M:y /, 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, alcertain mortgage recorded in
the Recorders Office Of Madison
County, Missouri. in book 81, page 1874,
and in the Recorders Office of st.
Francois County. Missouri. in book SO,
pages 285 to 303, to secure the pay
ment of the principal and interest of
certain bonds dated May /, 1905, of
which issue bonds to the amount of
$l30,000.00 are still outstanding, and
subject also to the lien of a certain
second mortgage dated the LIST day of
August, 1909, whereby the said Mine
La Motto Lead 4 Smelling Company,
defendants predecessor in title, execu-
ted and delivered to the Capital Trust
Company, Arthur A. Dempster and
- ~. 81. 10 =