Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1923-12-01

any or all Of said properly and in and
to every part and parcel thereof, shall,
so FAR as may be and subject only to
such claims az shall have priority
fsrred to and Is the prosisions e the
before mentioned decree, be forever
barred and foreclosed by such sale.
The sale shall be of all the property
aforesaid in one parcel and the lowest
sid the ts sescal aas s vii ale be geT W
HUNDRED THOUSAND ($2O0, 0OO)
DOLLARS; otherwise than which such
sale shall be without valuation, APP
praisal, right OF stay or exemption, ex-
scept as otherwise provided in said de-
The Special Master may adjourn the
sale from time to time to future
date to be orally announced at the
time and place appointed for the sale
upon the consent Of the Solicitor for
the Court. for a period not exceeding
twenty (20) days time with or without
the necessity of publishing further mo-
No person shall be entitled to bid at
with the Special Master. as a pledge
that he will make good his bid. IL ac-
cepted, in cash or certified check or
checks on some national bank or trust
company satisfactory to the Special
to his order the sum of TEN THOU
SAND ($10.00O.0o) DOLLARS or, in
lieu thereof, the outstanding bonds Sc
cured by the aforesaid mortgage inden-
ture of the face value of FIFTY THOU
SAND t$50,ooo.oO DOLLARS with
be partly in cash or certified check. and
partly In bonds. but in the same pro-
portion. In the event that any sale
Is adjourned. without striking the
fered. the Special Master will return
all moneys ard bonds deposited with
him.
Any deposit so received from an
unsuccessful bidder shall be returned
strcR az that receiyed from the sc
cessful bidder shall be applied on ac-
count of the purchase price Of the
property
In case any bidder upon the accep-
and confirmation by the Court, shall fail
to comply within a period of ten days
after the delivery thereof with any or
der of Court requiring or relating to
the payment of the balance of the pur-.
chase price. then, the money or bonds
deposited by such accepted bidder as
hereinbeforc specified shall be forfeit
ed as a penalty for such failure. and
shall be applied to the expense of the
resale and to making good any deficien-
cy in case the property shall be sold
for less price on such resale. and for
such other purposes as the Court may
direct. If the Court shall not confirm
any sale, the deposit made by the ac-
cepted bidder at such sale shall forth
with be returned to said bidder.
The property directed to be sold by
this Decree shall be sold subject to any
valid and subsisting prior liens there
on, or valid and subsisting prior inter-
est: legal or equitable therein.
The purchaser. upon confirmation of
the sale. shall make such further pay
ment or payments in cash on account
or the purchase price. in addition to
the cash or proceeds of any certified
check already deposited, as hereinbe-
fore provided. as the Court may from
such purchase price not required to be
paid in cash may be paid in cash or
the purchaser may satisfy and make
good the balance of his bid in whole or
in part by turning i'll to be paid and
count credited thereon. bonds secured
by said mortgage indenture legally
outstanding and which by decree of
the Supreme judicial Court dated De-
cember II. N922. as amended by de-
cree dated November Is. 1928, were ad--
judged to be legally outstanding, and
unpaid past due coupons appertaining
thereto. and entitled to share in the
distribution of the profits of the sale.
and such purchaser shall thereupon be
credited therefor on account of the
would be payable on such bonds and
coupons out of the proceeds of the
sale. If the whole amount of the pur-
chase price were paid in cash; provid-
ed said bonds are payable to bearer
and transferable by delivery or duly
endorsed and assigned in blank.
The Special Master may in his dis
cretion accept temporarily, instead of
bonds and coupons, the certificate or
certificates of any national bank or
trust company which he may approve
that it holds. subject to his order,
bonds of the amount and character
therein provided, and will deliver the
same to him on demand for cancella-
ton or other disposition according to
the terms of said decree.
Neither the purchaser nor the sue
cessors or assigns of such purchaser
shall be required to see to the applica-
ton of the purchase money.
The fact of purchase and acceptance
of deed or deeds of the property by
purchaser shall not be construed as an
election to accept any contract. agree
ment or lease sold as part of the prop
erty offered pursuant to said decree or
embraced in any deed.
The purchaser. his successors and
dSolSuSs Slldll De allowed one month
from the date of confirmation Of the
sale within which to elect. by written
instrument filed in the office of the
Clerk Of the Supreme Judicial Court at
Wiscasset. in the County of Lincoln,
whether or not to adopt and continue
in force, or to refuse to adopt. any
lease, agreement or contract which
may be included in the property sold
or which may constitute an incident or
appurtenance thereof. No conduct or
user within said one month. unaccom-
panied by such filing, shall be deemed
to be an election. or to preclude the
purchaser. with respect thereto; but
failure to make such filing within said
time shall be deemed to be an election
to accept and adopt the same as part
however, that this right of election
shall not apply to any contract of
whatsoever kind. heretofore or here
after lawfully entered into by the Re-
ceiver of the defendant corporation. or
assumed or adopted by the, Receiver,
effecting the property purchased and
operated after the delivery or pos
session thereof. but all such contracts
must be adopted and carried out I'M
less the right to elect to adopt or ter
of to the Receiver or such purchaser.
The Receiver will not more than
twenty days. nor less than five days
prior to the date of the sale fixed here
unuer lie WITH tne Sl0Tk Oh tfle Su-
preme Judicial Court at Wiscasset
aforesaid statement or statements
showing as definitely as practicable:
l.. All Indebtedness. obligations and
liabilities contracted or incurred by the
Receiver then remaining unpaid.
g. All unpaid Indebtedness or liza
bilities contracted or incurred by the
defendant corporation prior to the APP