The New York herald., 1921-05-19
FORECLOSulsE SALE.


Company 10 James A. Foster. dated Decem-
ber %. zoos, and recorded In said records
In Deed Book No. Io at page ai2.
Excepting and reserying, however. from
the property TO be sold al said sale any part
OF said property which may have been duly
released from the lien ard operation OF the
Pawtuxet First Mortgage, or from the lien
aud operation OF the Cumberland First
Mortgage. or from the lien and operation OF
the Suburban First Mortgage.
For more particular description OF the
property 10 be sold and of the terms Of
sale. intending purchasers are hereby re-
ferred to said decree Of foreclosure and sale
and said final order OF sale The attention
OF intending purchasers Is also directed 70
the Inventory OF the property OF the Rhode
Island suburban Railway Company here
tofore filed in said Consolidated Cause.
Such Inventory shall be advisory only ano
shall not with respect to title or any other
warranty All purchases shall be deemed
to be made In reliance upon the purchasers
own knowledge or information as 70 the
AZ more fully provided by said decree
OF foreclosure and sale. TO which reference
1 The sale directed by said decree OF
foreclosure and sale will be made in the
followinA manner
separately and entirety as Parcel A..
ali and singular the property by said decree
adjudged 10 be embraced in or under and
subject 10 the lien Of the Pawtuxet First
Mortgage and described In Article XXXIv
OF said decree. and will note the highest bid
therefor.
separately and an entirety as Parcel b.
all and singular the property adjudged by
said decree TO be subject 10 the lien OF the
Cumberland First Mortgage. and described In
Article <XXV OF said decree. and will note
the highest bid therefor.
The Special Master viii next offer for
sale. separately and as All entirety as
Parcel G. all and singular the property ad-
Judged, by said decree to be subject to the
lien or the Suburban Mortgage and described
in Article XXXVI OF said decree, and Will
note the highest bid therefor.
The Special Master will then offer fsr sale,
in one lot and entirety. all the prop
erty described in Article NXNIV and Article
NNNV and Article NNNNl OF said decree
,being parcels A. and Co. and previously
offered for sale. and will note the highest
bid therefor.
OF said property. when Offered for sale
as an entirety, shall equal or exceed the
aggregate Of the several highest bids ihere-
Tor. when offered for sale IN separate par
GELS hereinSoove provided. then the Special
Master viii accept said bid and strike off all
said property as an entirety to such bidcer
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
properly. when offered in % separate M parcels re- as As
hereinabove 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-
tion OF the sale by the Court.
II. In making said sale. the Special Master
VIII accept no bid from any bidder who shall
not, prior to the day OF sale, deposit with
the Special Master, a pledge that he VIII
make good his bid in the event Of its ac-
ceptance:
TO the lien of the Pawtuxct First Mortgage
ard described In Article XXX1v OF said
decree Of foreclosure and sale tbeirg Parcel
Al the sum OF fifteen thousand dollars in
cash. or by certified check on some national
bank or trust company In the City OF New
TO tn. Special Master. and made or endor~Ad
payable TO his order. At the option OF tho
bidder thirtyfive thousand dollars principal
in bearer form. and II coupon bonds,
companied by the coupons due July /. 10t0
OF cash. Such deposit may be partly in cash
or by certified check and partly in said
Pawtuxet First Mortgage Bonds. but in tho
same relative proportions;
tb) In case OF the property subject to the
lien of the Cumberland First Mortgage and
described in Article NXXv OF said decree of
foreclosure and sale (being Parcel b the
sum of five thousand dollars in cash, or by
certified check. as aforesaid. At the option
OF the bidder twelve thousand dollars princi-
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 the
same relative proportions:
(c) In the case or the property subject to
the lien of the Suburban Mortgage and de-
scrbed in Article XXXvI OF said decree or
sum Of thirty-five thousand dollars In cash.
by certified check aforesaid. At the
option of the bidder one hundred thousand
dollars principal amount OF Suburban Bonds
In bearer form. and II coupon bonds. ac-
snd @ sp be in
OF cash Such deposit may be partly In
cash or by certified check and partly in
to- In the case Of the property described IN
Article NXXIV and In Article XXNV and in
Article xXNVI OF said decree OF foreclosure
and sale tbeing Parcels A. Il and c., as an
entirety the aggregate ot sue, sa'ns y,
the aggregate OF bonds OF the character
and to the amounts which would be REQUIRED
under the foregoing clauses .al. @, and ,,cl
said property when offered in said parcels.
In lieu OF the deposn or bonds aud cou-
pons in accordance With tile requirements
OF any OF the foregoing clauses, the Special
Master may accept the certificate or cer-
tlficates OF any solvent bank. banking in
stiiutlon, trust company, or banking firm
holds. subject TO the order Of the Special
Master. bonds OF the required character in
bearer fern. and, Ii IN coupon form, ac-
companied by the required coupons.
The deposit made by any bidder for a
separate parcel may so far as applicable he
applied on account OF the deposit REQUIRED
70 be made In order to qualify hum 10 bid
Tor the same property when Offered .or
sale with the other property as All entirety
Any deposit received from An unsuccessful
bidder shall be returned 10 him when the
property shall have been struck Oft. Tie
deposit received from the successful bidder
or bidders shall be applied on account OF
the purchase price of the property
In any bidder upon the acceptance
OF his hid by the Special Mostcr, shall fafl
10 comply within tic 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
provided. will he forfeited a penalty for
such failure and VIII b. applied 10 she pay
mcnt or the expenses of refale and tow
ard ua<InI good any deficiency ~ loss. IN
case the properly. in respect Of which such
accepted bidder shall make ,cfault, s,lall
be sold at less price on such resale aud
10 such other purposes as said Court may
direct.
n said Court shall deny an application to
confirm any salt, the deposit made by any
be returned to such bidder.
No minimum price is fixed by said decree
~ forecosu. and sale for the property 70
has reserved full power and discretion 10
reject any bid or bids which in its Judgment
shall be subject 20 just obie e-ton
Every sale under said decree shall he
subject tc confii nation by said Court.
III. Upon the confirmation Of any sale
the purchaser shall make such payment or
payments ia cash on account OF the purchase
price as said Court may from time to time
direct.
SO much OF tho purchase price ~ MAJ not
he REQUIRED by the court 10 be paid In casii
may be paid IT. cash. tire purchaser may
satisfy and make good the balance OF his bid
IN whole or IN part by delivering 10 tae
Special Mastsr To be cancelled ~ credited
az hereinafter provided the bonds and cou-
pciS to lc PAID opt OF the procceds or saie
en- distribution thereof as set forth ~ gaid
n ga N hp In hn