Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1923-11-24

barred and forecloseds 81 such ssis
sss sp sa ds.,sI snS The lowest
IaS asEsBSsDs b sas aSS5
| D0LLARS; otherwise than which s,scb
| nraissi ri.pe " wsashont valuation. APP
cept as otherwise provided in said de-
The Special Master may adjourn the
| sste t r9m time TO time to future
time and place appointed for the sale
upon the consent Of the Solicitor for
the trustee: or with the approyal Of
~ SuuTd, LOT period not exceeding
| twenty, (2o( days time with or without
the necessity Of publishing further mo-
no person shall be entitled to bid at
Saiq sale unless he shall first deposit
that he H VIII fRer maha .M s as 9 pledge
| csptea, IN cash or certified check or
checks on some national. bank or trust
company = satisfactory to the Special
his o a1a m fss TS psEs5
! SAND et$1o.0DD, 00) DOLLARS or. in
lieu thereof. the outstanding bonds Sc.
cured ny the aforesaid mortgage inden-
snrS OF tn sed fa ace value Of FIFTYTHou
all coupons attached. Such deposit may
| De partly in cash or certified check, and
partly in bonds, but in the same pro-
Porti ndi,,., In the event that any sale
property off. after bid has been Of
! fered, the Special Master will return
| him.
Any deposit so received from an
unsuccessful bidder shall be returned
TO him after the property shall be
struck on: that received from the sue
cessful bidder shall be applied on ac-
count OF the purchase price of the
= In case any bidder upon the accep.
lance Of his bid by the Special Master
ana confirmation by the Court, shall fail
70 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
hereinbefore 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 deficient
cy In case the property shall be sold
Ior less price on such resale. and for
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
Va1d ana 4SubSisting 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
Went or payments in cash on account
OF 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
time to time direct. The remainder of
such purchase price not required to be
paid in cash may be paid in cash or
n ffe-fxs I'D Hf,A1p
good the balance of his bid in whole or
in part by turning i'll to be paid and
cancelled or to have payment on ac-
count credited thereon: bonds secured
outstanding and which by decree of
the Supreme Judicial Court dated De-
cember IL. 1922. as amended by de-
cree dated November IS. 1928. We're ad-
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
purchase price with such amounts as
would be payable on such bonds and
coupons out of the proceeds of the
sale. II 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
erection 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
n In he
ton of the purchase money.
The fact of purchase and acceptance
or 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
assigns. shall be 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
lease. agreement or contract which
may be included in the property sold
or which may constitute an incident or
appurtenance thereof. No conduct or
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
of the property purchased; provided,
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
less the. right to elect to adopt or ter
inmate be reserved by the. terms here
of to, the Receiver or such. purcha ser.
The Receiver will not more than
twenty days. nor less than five days
prior to the date of the sale fixed here
under file with the Clerk OF the. Su-
preme Judicial Court at Wiscasset
aforesaid statement or statements
showing as definitely as practicable:
1. All Indebtedness. obligations and
liabilities contracted or incurred by the
Receiver then remaining unpaid,
2. All unpaid Indebtedness or liza
bilities contracted or incurred by the
defendant corporation prior to the APP
pointment of the Receiver in the oper-'
alton of the sproperty directed to be
sold, and which so far as the Receiver
is informed. are claimed to be prior in
lien or superior in equity to the afore-
said mortgage indebtedness.
8. All outstanding contracts to
which the defendant corporation or the
Receiver may bepparties, stating in the
case of contracts to which the derend-
ant corporation is party whether
adopted or dis-affirmed by the Re-
Ceiyer.