Evening journal., 1922-02-20
new Terms OF
GARDENS SALE
Announcement of Condi-
tions Made by Gerth's
Experts in Charge
PROPOSALS FOR ALL,
THEN SINGLE BIDS

lions governing the auction or Union
Park Gardens by the United states
shipping Board Emergency Fleet
Corporation, through Gerth's Realty
experts, were announced today
They are such as TO warrant the
publication OF the revised and final
terms In full Those persons who
expect TO attend the sale Of the Gov
ernment's 500 houses. four stores one
store with apartment. one six family
apartment house and two tracks OF
land, at the Auditorium, next Friday
al ! o clock. will do we'll not only to
read the terms carefully, but save
this copy OF their newspaper and to
tell their friends to be sure and OBJ
tain copies and do likewise. The re-
vised and final terms are as follows:
tAl The premises VIII first be Of
fered for sale In their entirety subject
to the express conditions: Q)-That
each and every lump sum bidder shall
deliver 10 the seller prior to or stimuli
taneously with the submission or his
original hid list or all the individual
properties comprising said premises,
showing opposite each property a base
price applicable thereto the total OF
|, all such base prices 20 be equal TO
the amount Of his lump sum bid. and
f2l-That n such lump sum bid shall
be accepted by the seller the lndlvld-
ual tenant OF any OF said properties
shall have an option. for a period OF
thirty 900 days after date OF posting
OF list as hereinafter provided. to pur-
chase exclusively for his own use from
said lump sum bidder the property oc-
cupied by the tenant az the time OF
sale, upon the terms prescribed for sale
Plan "B" at the base price set op-
posite his property In the list above
referred to. plus ton per cent Oot)
thereof hn ~ no
ance by the seller OF a bid by a lump
1 sum bidder Tn excess Of his original
bid the individual tenant Of any such
properties shall have an option iden-
4 tlcai with the foregoing except that
the base price set opposite his prop
erty In the list above referred 10 shall
1 In such case be increased In the same
ratio as said accepted lump sum bid
4 bears 20 tho original bid.
(B) Immediately following tho offer
i Of the premises under sale Plan a..
4 the premises win be offered for sale
N by individual units or by lots or groups.
as may be determined by the seller
4 Within three f3) days after the COM
n pletion Of the sale under Plan "B"
4 announcement will be made by the
seller through the public press Of Will
mington. Delaware. and AZ the office
Il OF the seller az 2i0f Lancaster avenue
In said city. under which OF said mans
n under either. the premises have been
Il sold lf Do shall De announced hv the
Il seller that n lump sum bid for the
premises has been accepted. there shall
i be posted In said office simultaneously
Il referred 20 showing the individual base
prices az which. plus ten per cent
" I0rcl the tenant may purchase their
4 properties within t30l days thereafter.
and within fifteen G5) days after said
posting there shall be returned 10 bid
4 ders under sale Plan n" such initial
4 payments and auctioneer's fees as may
Il have been paid by them TO the auc-
. tionccr pursuant 10 the requirements
Il OF Paragraph Second" hereof II a
sale Us made under either OF said plans.
4 the bid accepted will be that which
j the owner shall decide TO be the more
I advantageous 10 H. No contract Of sale
B. entered into by any individual tenant
II for fhc purchase Of his property from
the lump sum purchaser shall be as
n signed or otherwise transferred
n Terms Prescribed for Sale Plan 3D.
A First. Where several houses are
81 constructed In a group contiguous "a
II ono another with common. or party
81 walls or not. as the case may be. a
Il successful purchaser or one such unit
house shall have the privilege Of takinr
n al the same price per unit as many
ii consecutive contiguous units IN said
"a group as ne may desire. subject. how
# ever. 10 this understanding and pro.
s. viso that the tenant az the time oc-
81 cupying any property sold with others
. IN a group or collective lot 10 any pur-
Fl chaser shall have the preference az the
Il time OF sale 10 purchase the property
second: The purchaser win he re.
qulred at tho time and place Of sale
i. TO Sign memorandum OF his purchase
:. and 10 pay on account OF the purchase
n price 10 the auctiOneer ten l0Tl pei
cenfum OF the amount OF his bid. foi
W which the receipt OF Charles S. Gertf
W as agent for the seller will be given
|X and the purchaser except a tenant who
shall buy tho house which he Is occupy
NJ ing. will also be required at the sam,
NHnHI % IN HHHH Iona
IN addition. the auctioneer's fee OF
nfteen N5) dollars for each house OF
lot sold.
Third: The remainder OF the pur
3 chase price must be paid IN cash oil
partly In cash and the balance In
purchase money bond and mortgage AZ
II hereinafter set forth. during tho weel
beginning April g. 1922. or al such late
. date 10 which the closing may be ad
M iourned az the place that may be des
ignated by the seller. when and wher
81 he deeds OF the property will be read
f In case the seller cannot close an.
title on the date fixed. the seller ha
I and reserves the right to adjourn IN
closing from time to time until IL sha
be able to close the transaction.
the seller shall refuse TO give "a dec
TO the purchaser for any house 10
g. or n'of sold subject TO the covenant rs
exceptions. agreements. encumbrance
and other matters herein mentioned
.. the purchaser fNaN not ne required Q
- complete his purchase. and the none
paid on account OF the purchase prlc
# shall bc returned 10 him and the sal
of such house. lot or plot. shall d
( void. II the title Is not delivered Q
E any house. lot or plot neither IN
* owner nor the auctlOneer shall IN an
X way be liable 10 tho purchaser. exceu
a for the return OF ;he deposit OF te
III G0ctD per centum or other amount
< any. paid on the purchase price an
the auctionccr's fee paid 10 the auc
M tionccr without interest
@ Fourth. Any purchaser win have IN
'|* privilege OF allowing a portion OF IN
[& purchase money TO the extent OF SOC,
W eQc- or 100 thereof TO remain on pur
81 chase money bond and mortgage 10
- period Of three years from the dat
OF settlement az the respective annua
"a rates OF interest OF five go per cenl
81 where not exceeding SOC OF the pur
chase price is left on mortgage. nv
s. and one-haf. f5ih cr) per cent whcr
more than 80 e.. and not exceeding SOC
OF purchase price Is left on mortgage
or six f6rcl per cent where more thai
SOC and not exceeding 70cc OF IN
purchase price Is lott on mortgage
<H payable scmi-annually. A tenant VIII
9M purchases tho house he Is Occupyin
*I will have tho alternative privilege o
M naN.nE icn nor ccntum l0,.l OF IN
~ IF YOU HAD
/%ASsF NECK