The New York herald., 1921-05-26
roREcLasuEK SALE.

/ in Article XxXvI of said decree. and ws.i
/ note the highest bid therefor.
The Special Master win then offer for sale.
\ In one lot and as an entirety. all the pfon-
srty described in Article NxNIV and Articis
\ Xx3sV and Article N&NYi Of said decree
! fbeing parcels A. and c.. and previously
offered for sale. and VIII note the highess
| bid therefor.
| II the highest bid received for the whoss
OF said property, when 50 offered FOR sal.
/ as an eB.irety shall equal or exceed the
aggregate OF the several highest bids tners-
for. when offered for sale in separate par
cells as hereinabove provided. then the Special
Master VIII accept said bid and strike OFT al
said property as an entirety to such bidder
subject TO confirmation or the sale by tnf
Court. If. however, the highest bid received
I for said property, when offered as an
ttrety, shall be less than the aggregate
amount of the several highest bids for said
property, when Offered in separate parcels ~
hereinabove provided, then the Special Mas,
ter will accept the highest Did received tor
each parcel of the property. when offered
separately as aforesaid. and will strike or
the same to such. bidder subject to conilrfna-
tion of the sale by tho Court.
! III. In making seid sale, the specia! iIastsr
win accept no bid from any BIDDER VINO shall
not, prior 10 the day Of sale, deposit with
the Special Master, a pledge that he VIII
| make good his bid IN the event OF It's &C
ceptance:
ca In tho case Of the property subjec,
TO the lien II tie Pawtuxet FIRST Mort gaGs
and described IA Article Xx1kIv az said
decree of foreclosure and sale tbsing Parcel
Al the sum Of fifteen thousand dollars lis
cash. or by certified check on some national
bank or trust company in the City, OF Nov
York or IN tho City OF Providence acce ptsbi,
to this Special Master, and made endorshd
bidder thirty-five thousand dollars principal
amount OF Pawtuxet First Mortgage Bonrs
u bearer form, and, II coupon bonds, ae-
companied by the coupons due July /, 1910.
AND subsequently, may be deposited in hesi
OF cash. Such deposit may be partly in cash
or BY certified check and partly in said
Pawtuxet First Mortgage Bonds, but "a tho
aarne relative proportions;
o. In case OF the property, subject 70 tbs
lien of the Cumberland First Mortgage and
described in Article XXXV OF said decree OF
i foreclosure and sale (being Parcel b tns
stin 81 rye thousand dollars In cash. or BY
certified check, as aforesaid. At the OPTION
Of the bidder twelve thousand dollars prin.i-
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 Ia the
same relative proportions;
Cc) In the case u the property subject to
the lien OF the Suburban Mortgage and de-
scrlbcd In Article XXSVG OF said decree OF
foreclosure and sale tbcin6 Parcel CO tho
sum Of thirty five thousand dollars In cash.
or by certified check aforesaid. A. the
option of the bidder hundred thousand
dollars principal amount OF Suburban Bonds
companied by the coupons due July /. 1918.
and subsequently. may be deposited in lieu
cash by certified check and patty In
said Suburban Bonds but IN the same reia-
tive proportions.
fd) In the case of the property de3cribed In
Article xXxTV and in Article XXSV and in
Article XXXvT OF said decree OF foreclosure
and sale (Delng Parcels A, and Co, as an
entirety. the aggregate OF such surns
or the aggregate of bonds Of the character
and 70 the amounts which would be requires
under the foregoing clauses (a). (b) and tcs
IN order to qualify the bidder 10 bid for
said property when offered In said parcels.
In lieu of the dcpost OF bonds and cea-
pons in accordance with the requirements
OF any of the foregoing clauses. the Special
tificates of any solvent bank. banking IN
stitution. trust company, or banking firm
acceptable to the Special Master. that J.
holds subject to the order OF the Special
Master bonds of the required character in
bearer form, and, II in coupon form, ac-
companed by the required coupons.
The deposit made by any bidder for q
separate parcel may so far as applicable be
applied on account OF the deposit required
for the same property when offered .or
sale with the other property as an entlrety;
bidder shall be returned TO him when sns
property shall have been struck OIL fna
deposit received from the successful bidder
or bidders shall be applied on account OF
tho purchase price of the property.
In case any bidder. upon the acceptance
Of his bid BY the Special Mss;er. shan fail
to comply within the period OF twenty days
after the entry thereof, with any order
of said Court requiring or relating to tho
price. then the moneys or bonds deposited
by such accepted bidder. hereinbef2re
I
srch failure and viii be applied to the pay
ynent of the expenses OF rSfele and tow
ard making good any deficiency OF loss. IN =,
accepted bidder shall make default, shall
be sold at less price on such resale and
direct.
/ II said Court shall deny an application %
confirm any salt, the deposit made by any
accepted bidder at such sale shall thcre1pon
be returned TO such bidder.
i No minimum price Is fixed by said decres
! GI foreclosure and sale for the property 70
be sold or any parcel thereof; but ,tas said COURT
\ reject any bid or bids which in its judgmen.
/ shan DO subject 70 just objection.
Every sale under said decree shall he
III. Upon the confirmation Of any sale
the purchaser shall make such payment or
price as said Court may from time to tfnis
direct.
SO much Of the purchase price as may not
be- required by the Court to be paid in casn
may be paid in cash, or tho purchaser may
satisfy and make good the balance of his bid
Teole % n part ~ On credeS 70 t
a. hcreina fter provided the bonds and cou-
pcLs to be paid out Of the proceeds OF SAFE
decree Of foreclosure and sale. and claims
against the Suburban Company. or against
81 Tnberiand Company. which have been or
mag be allowed and established IN said con-
soiidated cause, or said constituent causes.
ard are 10 be 90 paid provided Ia Article
/ N&VI Of said decree OF foreclosure and
I sale. The purchaser VIII Do crcdlteu. on
I account OF the purchase price OF the property
/ by him purchased, for all such bonds srE
COUPONS and for all such allowed claims 30
delivered TO the Special Master in part pay
nurlt OF the purchase price, with such suras
as would be payable IN respect OF suca
4 bonds, coupons and claims out OF tho pro
/ ceeds CT the sale or sales made pursuant -
/ said decree Of foreclosure and sale, TX Sis
whole amount of the purchase price wefs
paid In cash.
Nv. Any purchaser at any sale under said
decree OF foreclosure and sale shall take no
\ property purchased BY him and receive th9
/ deed deeds therefor subject 70 all taxes,
4 assessments, and other public chargei
/ chargeabie upon such property for wnich
such purchaser is mace liable and whlcb
/ laws of the state OF Rhode Island In force
at the time Of such sale.
The purchaser OF any property oy @id
/ decree OF foreclosure and sale directed 70 be
4 for and OF the purchase price OF the prop
! erty purchased, and IN addition TO ths sum
/ bid therefor, take auch property ana receive
4 the instrument Instruments OF conNeyAncs
dition that he, or hi9 successors or sssisnS'
shall pay. satisfy ard discharge.
" ta) Any Indebtedness. obligations, or Ia
I hilitiee Of the receiver Of the Pawtuxet Com.
i Company and OF the receiver of the Suburban
Company duly incurred In the causes hereto.
i fore consolidated into said consoldated
I cnuse No. 1855 pending as aforesaid In ne
Il Superior Court OF the State OF Rhode Island
4 In the discharge of their duties as such re-
Il ceivers between the date OF their appointment
1 and the date Of the delivery by them OF pos
y session of the property sold:
i o. Any unpaid claims OF creditors OF ths
\ dofendanf Suburban Company which havs
u interest or adiudged by said Court to be prior
4 IN Hen or superior In equity 20 the Supur-