(105 ILCS 5/15-13) (from Ch. 122, par. 15-13)
Sec. 15-13.
Payment of purchase price.
At the close of each day's sale the purchasers shall pay or secure the
payment of the purchase money. In case of a failure to do so by 10 a. m.
the succeeding day, the lot purchased shall again be offered at public
sale, on the terms as before. Regardless of whether or not the sale is made
the former purchaser shall be required to pay the difference between his
bid and the valuation of the lot, and if he fails to make such payment, the
county superintendent may forthwith institute a civil action in his name,
as superintendent, for the use of the inhabitants of the township where the
land lies, for the required sum; and upon making proof, shall be entitled
to judgment, with costs of suit which, when collected, shall be added to
the principal of the township fund.
(Source: Laws 1961, p. 31.)
|