Werner

Jacobson was adjudged a voluntary bankrupt by the court below July 31, 1923. Among his assets were lots 25, 26, 27, and 28 in the town of Chandler, Maricopa county, Ariz., on which the present petitioner held a second mortgage, there being prior mortgages thereon held by the respondents Phoenix Savings Bank & Trust Company and Northern Trust Company, respectively. The ease was referred by the court to its regular referee in bankruptcy, and the respondent Allen was subsequently appointed trustee of the estate. Thereafter an application was made by the trustee to the referee for the sale of these lots, among other property of the estate; the petition setting forth, among other things, a stipulation that had been entered into by and between the creditors (including the present petitioner and respondents), and approved by the referee, which stipulation, set forth the various properties of the estate and the various 'incumbrances thereon, and contained .these, among other, provisions :

That the described real property should be sold by the trustee on any date not later than 90 days from the date of the stipulation, “free and clear of all liens against said property, except leases on…