New-York tribune., 1922-12-06

purchasers. N there Be more than one
and includes also the successoTs ara a.
signs Of any pufchassg). upon cO0sTma
tion Of the saie or sales. must make suoh
further payment or payments IN cash 81
account cf the pprchass price A. said
Court may from time 20 time direct ~
making payment u the residue ~ hif
bid the Purchaser may turn over 10 ths
Special Master at their distributiYs yaiue
norigaGe Notes and coupons Or o0llae-
ti0ns or claims with proper tranafers
thereof entitled 20 share IN TIE disiHbh'
tion Of the proceeds u sale a. ast fortf
in the Final Decree.
In lieu Of norirsgs Notes and eoupsns
or Of such obligations or claims thf epr
ciai Master may accept the certifcats
Of any national bank or trust COMPANY
IN the CITY Of New York or In the citf
Of Detroit. Michigan. scceptabia 70 HIN.
that Il holds, subject 10 be order, q
specified amount of Mortgage Notes &C.
companied By the cooYons therein stated
or of obligations ~ siaima q the char
actsr thsriin specified with proper ranf-
fsra thereof
Tho Purchaser win b credited On
account % the purchase price of tn
property By him purchaa-d for 81 Mort
gage Notes and coupons o. ooligafiers
or claims 10 turned over % the bpecm
Mater IN part payment of the pufchass
price with such suma a. would b. paif
In respect Of fgch Mortgage Notes ono
coupons or obligations or claims out. of
the proceeds u the sale n ths whois
amount Of the purchase price we're paid
IN cash. The Purchaser viii not bs re-
quirsd 70 pay on account of the purchase
price any amount IN cash required To-
distribution out Of the proceeds of sale
made 20 such Purchaser upon TIE re-
spective Mortgage Notes and coupons o.
Obligations or claims enuued 70 shsrs
in the distribution ~ the procetf1 of
salo until ten days after said Court. o.
appilcation of or on behalf - the hoiuef
OF any OF such Mortgage Notes and cou-
pons, obligations or claims ehail enter
lts order or decree directing payment D.
accordance with such order - such cash
distributiye shtre upon fpch NPrigafe
Notes and coupons. obligations or clainA
ssid Court reserves q paramount Ter
and charge upon the property cold - agf
Purchaser for the payment IN foil of "a
purchaae price thereof ana reserve thf
right, upon such notice az said Coufi
may direct 20 rctake and resell anF
property sold 20 such Purchaser IN cas-
he shall fsil 10 comply with any order
Of said Court directing payment of suen
purchase price or any part thereof fqf
the period of twenty days. Or n an AZ
peal be taken from any such order, for
the period Of twenty days after the aqff-
Ice Of notice of entry of the order nnaIy
Affirming such order On appeal
VIII Upon confirmation of The tals
and upon payment By any Purchaser of
the purchase price of the property pus-
chased BY him, or such portion " such
purchase price a. shall, pursuant 20 ths
| provisions Of the Final Docres or ths
order Of combination. be required 20. p
paid IN advance of ths delivery % he
deeds or other Instruments - convey
snce or assignment and tran1fer ~ tnt
Special Master. o. upon tho msh,ns el
| such purchafer Of such provision for tns
payment thereof as fsld court fhail ap-
/ prove the Special Master Will execute
| a deed or deeds or other Instrument pf
/ instruments conyeylnGs Assigning and
/ Transferring 20 such Purchaser the prop
srty cold 90 such Purchaser subject
| however, 20 Article Fourteenth of the
/ Final Decree such deed or deeds of
other instrument or instruments % con.
veyancs or aasignment or transfer VII
/ run and be delivered 20 such Purchasef.
and upon the production thereof Or of .
/ certified copy or copies thereof ths
grantee or grantees therein namod vii
/ bs let into the possession n the property
/ 20 conveyed or Transferred and she'll
after such delivery of possession hold.
possess and enjoy the property 20 con
/ yeyed, assigned and transfersd and
/ every part and parcel thereof free from
/ the trust and lien OF said First MorgaEe
/ and free from sli claims. flGhts interesif
or equity Of redemption o. IN or 20 TIE
same BY or Of the Chalmers COMPANY.
/ ts successors and assigns snd BY or ~
the creditors or stockholders % The
| Chalmers Company and by or Of all per
/ sons claiming BY under or through tie
| Chalmers Company, lts creditors or g.
/ stockh0lders ond by or Of al parties 81
said consolidated caule or 20 the con
/ stituent causes thereof. but subject hoN
! ever 70 the compliance by the luis
| chaser with all conditions upon fuci
Purchaser imposed BY the Final Decree
TX. Article Thirteenth % ths rlnsi
| Decree provides that the Receiver shall
I not more than twenty nor less than Ten
days prior 10 Tho date nNcd for ne tslf
under the Final Decree. Ole with M
| clerk of said Court an adYisory state
ment or statements showing ana A.
scribing az definitely AZ practicable.. bu'
IN general terms (J on outstanding con-
! tracts and leases 10 which the Chalmer
| Company or the Receiver may be part
and % which, II any, ~ the parcels o.
I the FINAL Decree described raid con
tracts and Leases are aDpufienanij llf
ths property IN the Final Decree 10.
scribed and designated az Parcels =
3 and G, respectively ana fsl hN
| chase money or vendors or contractor
| or meohanics liens upon The property hy
the Final Decres directed 10 be sold.
| specifying the particular pieces ~ prop
erty upon which the same respectively
shall constitute a lien or charge
X. Any Purchaser will have The
! right to elect not 10 take or accept any
| part OF the property sold 20 such Pur-
chaser By written notice Of his election
| 20 the Special Master given AZ any time
| prior 70 tho execution and delivery or
| the deeds or other instruments Of con
veyanco from the Special Master 10
auch election by the Purchaser vii
| diminish or affect the purchase prico %
BE- paid by such Purchaser
As provided IN Article Fourtssnth %
| the Final Decree, the Purchaser of ths
property as an entirety VIII be alloNed
| one wear from the date OF taking pos
| session Of the property sold within which
70 elect 20 adopt or continue IN force Or
! 10 refuse 10 ADOPT or continus IN force.
| any lease or other eKecutory contract
which may be included IN the property
| sold 20 such Purchaser or which may
! constituts an Incident thereto or b ap-
purtenant thereto. Such right Of tleo.
lion reserved a. above stated VI not
apply 10 any contract or contracts here-
tofors or hereafter entered ir'o The
Receiver BY authority Of saio . -
XII The Trustee under sal FiFst
MortgaFo or any holder Of y ,rtsaFe
/ Notss or any of tho parties % the con-
solidated cause above referred 70 or -
| either Of the constituent causes thereof
or any creditor or any stockholdsr OF
the Chalmers Company or any holder of
creditor 0f the Receiver or any 9thef
person whosoeYer may, subject 4 the
provisions OF Article Ninth of the teh
Decree. BID Al any such sale. ana
successful bidder may purohass 10 bis
Us or their own right
XII By the Final Dcc-ee said cosrt
reserves for future adjudic uQn all ave.
tions not disposed Of By hs Final 'Hf
cree AZ
For further particulars references Il
hereby made 20 the Final Decres. 20 fhs
advisory statements 10 bo hled by the
ReceiVer ~ provided IN 'icle Thifs
teen'h Of the Final Decree. fnd 20 ths
records and proceedings IN a. coneoli'
dated cause aud the constituent causes
thereof on fle IN tho once Of the CleTk
/ Of sid Court
November ., 1894.
/ 3Q3 Federal Building
Detroit. Michigan
WILLIAM &. sAYREs. JR-.
SDecisl nastea