Defendants have moved for the dismissal of this action under R.R. 4:42-2(b) on the ground that upon the facts and the law the plaintiff has shown no right to relief. The facts as they appeared at the time of this motion are as follows:
The defendant City of Wildwood, having acquired title to certain real estate within its corporate limits as a result
of the foreclosure of a tax sale certificate, adopted a resolution consistent with N.J.S.A. 40:60-26, authorizing the sale thereof. N.J.S.A. 40:60-26, as far as here material, reads as follows:
"The governing body of any municipality may sell any lands or buildings or any right or interest therein not needed for public use.
All sales, either public or private, may be for cash or upon credit. * * * The governing body may also impose any restrictions on the use to be made of such land and any conditions of sale as to buildings or structures to be erected thereon, or as to the type, size, or other specifications of such buildings or structures, or as to demolition, repair, or reconstruction of buildings or structures, and the time within which such conditions shall commence or be concluded, or any other conditions of sale in the manner and to the same extent as any other vendor of real estate, whether such sale shall be made at public or private sale; provided, however, that any conditions for the payment of the consideration upon credit and the restrictions on the use to be made of the land and the conditions of sale shall be set forth at length in any advertisement of sale hereinabove required. * * *"
In accordance with the terms of said resolution, the following advertisement was printed and published in The Leader , a weekly newspaper published at Wildwood, in the County of Cape May:
"PUBLIC SALE OF LAND. By virtue of a resolution of the Board of Commissioners of the City of Wildwood, County of Cape May, New Jersey, adopted at a meeting of the said Board held on the twenty-first day of December, 1954, I shall cause to be exposed at public sale to the highest bidder on Monday, January 3, 1955, at the hour of 2:00 o'clock (E.S.T.) in the afternoon of that day at the Commissioners chambers in the said City of Wildwood the following lands and premises situate in the City of Wildwood, County of Cape May, State of New Jersey:
Block 78, Lots 1 to 10 inclusive, Third Ward, Minimum bid $30,000.00 (Full block 200' x 200' to be sold as one parcel.)
The terms and conditions of sale of the said lands shall be as follows: no bid will be received less than the minimum stated herein, twenty percent to be paid by the successful bidder in cash at the time of the sale, at which time an agreement of sale will be entered into, balance of the purchase money to be paid on or before 30 days from the date of the said sale. A further condition of sale shall be that modern stores and a motel or motels with ample off-street parking facilities provided, to be erected on said lands at
a minimum cost of $150,000.00, construction of which is to commence within ninety days from the date of sale and completed within one year from said date of sale. Plans and specifications for such construction and parking facilities shall be first approved by the Building Inspector and the Board of Commissioners and conform with all effective Ordinances and applicable city and state regulations. A performance and completion bond with surety approval by the Board of Commissioners, shall be submitted prior to commencement of such construction. Upon payment of the full purchase price and conforming and compliance with the conditions of sale, the proper officers of the said City of Wildwood will execute and deliver to the purchaser or purchasers or assigns a Bargain ...