New-York tribune., 1922-09-13
FORECLOSURE SALES

FORECLOSURE SALES
aeTPpled to ths expenseo of such aale or
ny the Court IN the event that the said
bidder 97hall, not make good his bid
shah fan 10 Make sno anod hia hd oioqss qSa
Court shall direct upon the confirmation to
MIN Of such sale, OF afterwards, the Court
the said bidder shall be liable fer all. the
expenses thereof and for any deficiency
the payments thereto made by such bidder
~ That in addition to the cash de-
posted post upon any bid at the, time of said
hsre sSa aiso sS be 81 pssa "S f9r'essS IN essS
by the purchaser or purcha sers, upon the
confrmati ton of such sale, and from time
10 time thereafter as the Court may direct.
e eqoh the fupther portion Of the purchase price
Inents hereunder, except upon the bonds
used by such purchaser In making pay
sums Of money received by the Special
Master upon any such sale shall be turned
for deposit in the registry Of the Court
,.ot 90 ~ rhe e, Court reserves the right to re-
cell the property purchased, upon the fall
ure OF any purchaser to comply with the
term, terms Of .,L sale or with any orders Of the
DAYS after the entry of such order in re-
apect thereof
Bids for the property when sold here
ments in cash of such sum or sums a the
Court may y, deem sufficient to meet:
% The payment of the costs and all
expenses attendant upon the sale, including
the compensation Of the Special Master
appointed to make the eale
CD The payment of all charges com
Pnss Pensauon allowances; expenses and dis
pany New y York and npion rns. Com
pany OF New York. the complainants, aud
OF their Solicitors and Counsel and of the
receiver heretofore appointed and of his
counsel, n
charges, allowances compensation, ex-
penses and disbursements of the eaid par
tles 10 SAID cause and their Counsel, as
the Court shall order.
lS( The payment OF all taxes. ASSESS
ments and other public charges which
shall be liens upon the property at the
time of sale prior TO the lien of either Of
and interest.
In the event of the insufIiciency of the
proceeds OF sale of the property directed to
i9f. BE SOLD to pay in full the amounts herein
directed to he paid out OF such proceeds for
the purposes set forth In subdivision num-
@6ered @ "tD. t2l and (3)" last above the
10 require the payment OF such deficiency by
the purchaser under said sale In the event
OF the failure or refusal of any such pur-
chaser TO pay such amount so required 10
be paid within thirty (30( days after the
entry Of the order requiring such payment
other respect to comply with the terms Of
his bid. the Court reserves the right to re-
take taI' and resell the said property and ap-
ment of the deficiency, rendering unto such
purchaser rha the surplus, If any.
,,,oI rhe purchaser or purchasers at the sale
his bid above the sum or sums required to
be be paid in cash. in whole or in part by
certhed. issued and outstanding under the
mortgage of the defendant Railway Com
pany, dated January list. 1900, and bonds Of
the defendant Railway Company duly certi
ned issued and outstanding under Its mort
gage gage dated October 1st, 1902, and the cou-
,,1's ,ne aforesaid bonds, which said securities,
unless In negotiable form. payable to bearer
shali sli be duly endorsed and assigned in
plank said bonds and coupons will be re-
ceived by the Special Master at such value
to be determined by the Court upon the re-
port Of the Special Master as would be
equivalent to the distributable amount that
the holders thereof would be entitled to re-
ceive therefor from and out of the purchase
moneys In case the entire amount of the
bid We're paid in cash.
The Special Master may, In his discretion,
hvery to him of said bonds and coupons the
certlncate of any bank trust company
satisfactory to him that it holds said bonds
ana coupons subject to the order of said
special Master and will deliver them to him
upon demand for cancellation other dis
II is condition of the sale of said
property that the purchaser, or purchasers
Sn4H nna e,ima assume an pending uncompeted and
receiver since his appointment for the op-
eraton. maintenance and betterment of the
receiver,
The Receiver has been directed TO file
statement :. with the Clerk of the Court and
WI WIN the Special Master two weeks prior
snow in such detail he shall find practi- |
canle the principal items of indebtedness, |
obligations ,'i ON and liabilities contracted or in
outIed by MIN remaining unpaid under all |
pending uncompleted and not fully executed |
contracts, and list of the contracts to be |
The sta tement SO filed is advisory only and
~ ~ no wise constitutes g warranty and such |
statement sra will not. constitute ground for re-
isHse from any bid. because of any omission |
thsrefrom or representations therein.
:. Upon confirmation of sale and payment of
chasers, and upon compliance by the pur-
cnaser, or purchasers, or his or their as |
Signs. Signs. with the terms of sale and orders of
court made and to be made in respect Of |
me payments as In the decree provided the |
Special Master will make, execute and de-
liver 10 the purchaser, or purchasers, or to |
~ ms s. or their assigns, proper instrument, or
Instruments, OF conveyance, assignment and |
ipahsfer rn,t or the property so sold IN which
under foreclosure heretofore appointed may
The purchaser or purchasers receiving such
Instrument or instruments of conveyance, as
slgnment or transfer from the Special Mas |
ter ter shall be. invested with, and shall hold |
conveyed, assigned transferred thereby |
o. ana nd az the estate right. title and interests
visions OF this decree. as fully and COM
pietely as the said The Colorado Springs and I
ooiipple creek District Railway Company and |
the said Receiver now hold or enjoy and /
have heretofore held and enjoyed the same
and the said purchaser or purchasers shall I
have, and be entitled to hold the said |
property so sold, freed and discharged of I
and from the lien of each ana all of the |
MORTGAGES forecosed in and by this decree /
ana OF and from any and all liens arising
out of any orders of the Court. or action Of |
the til Receiver herein, except otherwise in
this this decree specifically provided. and from
any and all right. title. interest and claim |
of The Colorado Springs and Cripple Creek |
District Railway Company, its stockholders,
creditors and Receiver. and of any and ali |
parties TO this cause and to either of the
causes consolidated herein. and of any and
al persons claiming by, through or undsr
them, or any of them, except as hereinaboye
IN TINS decree to the contrary provided.
The Special Master has the power TO ad- /
!ourn said sale. from time to time, to a. /
future ,i day by oral announcement at the
lice TO the notice of the sale. and without
The necessity of publishing any further mo-
lice, but the Special Master may notwfth-
standing. give such notice by publication or
as he shall think ft.
For other particulars reference IS made to
he said decree of foreciosure and order OF
sale hereinaboys referred to and Incorporated
lerein by this reference.