Section 16:
Balance of purchase money.
And it is hereby enacted, that the full amount of purchase money
shall be made good by the purchaser before sunset of the thirtieth, day from that on which the sale of the
estate bought by him took place, reckoning that day as one of the thirty: or if the thirtieth day be a Sunday
or other close holiday, then on the first office day after the thirtieth: and in default of payment within the
prescribed period as aforesaid, then and afterwards as often as such default shall occur, the deposit shall be
forfeited to Government, the estate shall be re-sold, and the defaulting purchaser shall forfeit all claim to
the estate, or to any party of the sum for which it may subsequently be sold, and in the event of the proceeds
of the sale which may be eventually consummated being less than the price bid by the defaulting bidder aforesaid, the difference shall be leviable from him by any process authorized for realizing an arrear of
Public Revenue, and it shall be so levied and credited to the defaulting proprietor of the estate sold, and if
default of payment of purchase money shall have occurred more than once, the defaulting bidders shall be
held jointly and severally responsible for such difference to the extent of the amount of their respective
bids. Provided always, that every such re-sale shall be made after notification and in the forms prescribed
by Section VIII. of this Act.