ABSOLUTE AUCTION TERMS & CONDITIONS FOR REAL ESTATE
INDUSTRIAL BUILDING & 8.59 ACRES Online Auction
485 OLD SYMSONIA ROAD, BENTON KY. 42025
ON-LINE ONLY AUCTION!
BIDDING ENDS MONDAY – JUNE 28TH, 2021 AT 12:00 NOON
BIDDERS MUST REGISTER WITH ALEXANDER AUCTIONS & REAL ESTATE SALES
WEBSITE (www.alexanderauctions.com)
BIDDERS SHOULD REVIEW ALL ONLINE TERMS PRIOR TO BIDDING
- Real Estate: Building and Land located at 485 OLD SYMSONIA ROAD, BENTON, KY 42025.
Deed Reference: Deed Book 307, Page 422 in the Marshall County Register of Deeds
PROPERTY IS DESCRIBED AS THE JAN D. FRICK REVOCABLE TRUST PROPERTY IN PLAT CABINET “F”, SLIDE 182 IN THE MARSHALL COUNTY REGISTER OF DEEDS. PROPERTY IS DESCRIBED AS TRACT 2 AND TRACT 3 IN SAID PLAT.
TRACT 2 CONTAINS 8.5901 ACRES.
TRACT 3 CONTAINS 0.6466 ACRES. THIS TRACT IS ESTABLISHED FOR USE AS A FUTURE ROADWAY. A DEED OF EASEMENT IS RECORDED CONVEYING AN INGRESS/EGRESS EASEMENT OVER TRACT 3. PROPERTY ALSO SELLS SUBJECT TO AN EXISTING 50 FT. WIDE INGRESS/EGRESS EASEMENT AS SHOWN ON SLIDE “F”/182, MARSHALL COUNTY CLERK’S OFFICE.
- 2021 TAXES TO BE PRORATED ON DATE OF CLOSING CALCULATED ON THE 2020 TAX AMOUNT.
Tax Map 0B-04-00-050 in City of Benton Tax Recorder’s Office: $ 950.30
Tax Map 0b-04-00-050 in Marshall County Tax Assessor’s Office: $ 4,233.82
- BUYER’S PREMIUM: A 10% buyer's premium will be added to the final bid on the real estate to reach the total sales price and total contract price.
- CONDITIONS OF SALE: Property is being offered in an Online Auction.
- Bidders and Buyers must review and agree to these Auction Terms & Conditions and Exhibits included with the Terms Online before bidding.
- BIDDING INCREMENTS: Alexander Auctions may have different bidding increments. The bidding software will calculate the next bid amount before you submit the bid. Alexander Auctions retains the right to change bidding increments at any time.
- PURCHASE AGREEMENT: After the close of the Auction, the successful bidder will be emailed a Sale and Purchase Agreement/Contract to be returned to Alexander Auctions within 24 hours of completion of the Auction, along with the required earnest money deposit.
- Bidder should review the Sales & Purchase Agreement (Contract) and Other Exhibits.
- EARNEST MONEY: The successful bidder is required to make an earnest money deposit of 15% of the purchase price and contract price within 24 hours after the Auction closes, when the Purchase Agreement is signed. Earnest money is non-refundable.
- Earnest money payable by cash, wire transfer, cashier’s check or personal check with current Bank Letter of Guarantee made to Alexander Auctions. No credit card payments and no Letters of Intent accepted.
- Buyer(s) must be prepared to make a cash offer. There are no contingencies to this sale (i.e., financing, appraisal, repairs, or inspections). Therefore, you should be pre-qualified by a lender prior to bidding if you require financing. This property is being sold for cash “as-is, where-is” with a closing deadline.
- Commission: Purchase agrees to pay a 10% premium of the bid price upon closing, which is equal to the agreed upon commission between Seller, Agent and Purchaser. Purchaser recognizes and agrees that the 10% premium paid as commission is this transaction does not constitute purchaser representation.
- CLOSING DATE: Balance of the Purchase Price shall be due on or before 45 days.
- POSSESSION: Possession of building and real estate given on or before 75 days after the auction.
- Property and improvements sell “As Is” in their current condition.
- Prospective purchaser(s) should inspect and review the property to become familiar with the property boundary lines and the physical condition of the improvements and complete their own due diligence research.
- TIME EXTENSION: Alexander Auctions have an auto-extend bidding feature.
- TIME INCREASE OR DECREASE: Alexander Auctions may increase or decrease the extended bidding time amount at any time during the auction until the close of bidding.
- EXTEND ALL FEATURE: Alexander’s auctions are timed events and all bidding will close at a specific time. Alexander Auctions also have an auto-extend feature. When any bid is placed in the final five minutes of an auction, the auction ending will be automatically extended five (5) minutes from the closing time. Example: If an auction scheduled to close at 12:00 noon receives a bid at 11:56 the close time will automatically extend to 12:05. The auto-extend feature remains active until no further bids are received within a five (5) minute time frame on the real estate and nay item in the auction.
- Real Estate bidding will remain open even if the raised bid is made on a lot of the steel rack, furniture or personal property. The Real Estate and all personal property items will close at one time when there is no bids made on anything in the last 5 minutes.
- Bidding on the personal property will remain open if the raised bid in the last 5 minutes is on the real estate.
- Real Estate and all personal property will close at the same time. When no bid is placed on the real estate or any other item in the auction.
- REFRESH BIDDING: Refresh your screen constantly during the closing minutes of the bidding or enable the “auto-refresh” feature.
- COMPLIANCE WITH THE TERMS OF SALE: Successful Bidder and or Buyer not executing and returning the contract with earnest money deposit within 24 hours of the conclusion of the auction will be considered in default. In the event a winning Bidder and or Buyer fails to submit the signed Purchase Agreement (Contract) for Sale of Real Estate and earnest money deposit, the winning bidder and or buyer shall pay to Alexander Auctions any damages, an amount equal to the Buyer’s premium or commission percentage as set forth in said Contract, and any and all expenses incurred by the said Alexander Auctions for said auction. Should buyer’s earnest money check be returned for any reason whatsoever, this shall constitute an item of default, and in addition to the remedies previously stated hereinabove, Buyer shall also pay an additional penalty of five percent (5%) of the earnest money check to Alexander Auctions. Buyer shall also pay a reasonable attorney’s fee and costs incurred in the collection of these monies owed by Buyer as a result of Buyer’s default. Buyer shall also pay the Seller any damages caused by said breach of contract, including attorney’s fees and costs. This shall not preclude the Seller from suing for specific performance of the Contract of Sale, in addition to said damages. It is specifically understood and agreed by and between the Seller and Alexander Auctions that in the event the Buyer should default in the terms of this Contract in any manner whatsoever, that the earnest money, or sufficient sums therefore, shall be paid first to the agent for the Buyer’s premium or commission percentage, and the balance, if any, to the Seller. Any disputes will be tried in a court of jurisdiction in Weakley County, Tennessee. Alexander Auctions reserves the right to sell to the next highest qualified Bidder or another Bidder or Buyer in the event the successful high Bidder and or Buyer does not comply with the terms of the sale. By bidding on the property, buyer agrees to all terms and conditions set forth. The contract is required to be fully and correctly completed, without any modifications and properly signed. A contract that is incomplete, incorrect, or modified in any respect, is considered to be in default.
- Failure to pay the balance due at closing will require Buyer to forfeit the earnest money and is subject to the Terms stated in these Terms & Conditions.
- If your closing is delayed for any reason, by you, as purchaser, or other parties working on your behalf, including any lender you involve, you may be declared in breach of this contract, forfeit all deposits made and could additionally be liable for any and all cost incurred, in a subsequent resale of the property, by Seller and Alexander Auctions. If such action occurs, Alexander Auctions hereby has the right to disperse the deposit as stated in the Listing Agreement and the buyer has no claims to such money or property being sold. Liquidated damages are to cover the auctioneer’s commission, cost of Auction, cost incurred by Seller, labor cost and additional cost of Auction as not defined in this agreement. These liquidated damages do not restrict the Seller from suing the buyer for performance damages and/or any additional damages the Seller suffers by the default of the buyer.
- TITLE: Deed transfer will be by a warranty deed as specified in the Purchase Contract.
- Property will be sold according to the legal descriptions in the owner’s deed and plat.
- Auctioneer and Broker are not expert in determining environmental hazards and hazardous material. Buyers accept this building and land in its present condition. Buyer agrees to hold harmless Alexander Auctions & Real Estate Sales, the broker, auctioneer and his agents. From any environmental hazards and from any claims in connection with environmental hazards.
- Sellers have not requested or had any environmental assessments run on this property. Sellers are unaware of anything that would cause an environmental problem.
- Purchaser and purchaser’s representatives have had the opportunity to inspect this property and agree all bids are made subject to their inspections and due diligence results and purchase said property as a result of their inspection.
- Alexander Auctions and Seller has not made, does not make, and expressly disclaims, any warranties, representations, covenants or guarantees, expressed or implied or arising out by operation of law, as to the merchantability, habitability, quantity, quality or environmental condition of the property or its suitability or fitness for any particular purpose or particular use.
- Property and improvements are being sold in their present condition “as is”. No improvements will be made. There are no warranties or guarantees expressed or implied as to condition or fitness for use. The warranties of habitability and fitness for a particular purpose and particular use are expressly excluded.
- Alexander Auctions makes no warranty or guarantee as to the condition of any building components or equipment including but not limited to the roof, electrical, plumbing, structural, heat and air conditioning, Niagra No Frost ammonia system, Travaglini drying and smoking systems and equipment, pumps, compressor, boiler, tanks, or any other system. All equipment sells “as is” with no warranty or guarantee expressed or implied for any particular purpose or particular use.
- AUCTIONEER’S DISCRETION: Alexander Auctions has full discretion to modify date and time, order and details of the Auction for any reason or no reason at all, including but not limited to technical issues, emergencies and convenience of Alexander Auctions reserves the right to modify, change or remove usernames at any time.
- SERVER & SOFTWARE TECHNICAL ISSUES: In the event that there are technical difficulties related to the server, software or any other online Auction related technology, Alexander Auctions reserve the right to extend bidding, continue the bidding or close the bidding. Neither the company providing the software nor Alexander Auctions will be held responsible for a missed bid or the failure of the software to function properly for any reason.
- AGENCY: Alexander Auctions agents and representatives are agents for the Seller. Buyer and or Bidder agrees to hold harmless and indemnify Alexander Auctions and its representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc.
- BACK-UP BIDS: If you are not the successful bidder on the real estate and wish to make a back-up bid in case of default by the high bidder, please contact Alexander Auctions to receive a back-up bidder form. Email notification may be sent to registered bidders with updated information as deemed necessary by the Auction Company.
- Bidders who bid off-site and do not make an inspection understand and acknowledge that they may not be able to inspect the property as well as if they examined it in person. It is the bidder’s responsibility to determine condition, age, genuineness, value or any other determinative factor.
- Alexander Auctions reserves the right to remove or cancel the bids and or bidding rights and privileges of any party at any time deemed not to be in the best interest of the Seller. The identity of all bidders will be verified, bidding rights are provisional and if complete verification is not possible, Alexander Auctions will reject the registration, and bidding activity will be terminated.
- AUCTION CANCELLATION – BID REJECTION: Alexander Auctions reserves the right to reject any and all bids for any reason. Alexander Auctions reserves the right to cancel this auction, or remove any item or lot from this auction prior to the close of bidding even if a bid has been placed.
- ACCEPTANCE OF BID PRICES: The auctioneer and/or Seller shall make the sole and final decision as to the winning high bid amount. Acceptance by the online bidding platform does not necessarily constitute an accepted bid by the auctioneer. Successful Bidder and or Buyer(s) will be required to enter into a purchase agreement contract immediately following the close of the Auction. Alexander Auctions will email documents to be executed and fax or email back to Alexander Auctions within 24 hours of the end of the auction. Successful Bidder and or Buyer(s) not executing and returning contracts with earnest money deposit within 24 hours will be considered in default. Alexander Auctions reserves the right to sell to the next highest qualified Bidder or another Bidder and or Buyer if the winning Bidder and or Buyer is in default of these terms. Winning Bidder and or Buyer must execute the contract with no changes, modification, additions or deletion.
- ALEXANDER AUCTIONS INVOLVEMENT IN THIS CONTRACT: Both the Seller and Buyer hereby agree that Alexander Auctions & Real Estate Sales is the procuring cause of the sale contract and shall receive compensation as stated in the agreement hereto or as stated in the listing agreement hereby made a part of.
- Prerequisite to bidding is that the Real Estate is purchased absolutely “as is” with no warranty whatsoever as to the condition of the same.
- BIDDING DISCLOSURE: Anyone can bid in this auction including the auctioneer and any auction company employees.
- No one should make a bid that he/she does not want to honor or is not financially able to honor.
- No purchase or bid is contingent on financing, appraisals, property or building inspections or any other contingencies.
- Purchasers should contact their attorney or title company to complete their Title Opinion immediately. Contract does not provide for an extension due to an attorney or title company failing to complete Title Work or your loan closing not being set up in time to meet the sixty (60) days closing period.
- ZONING: C2 ~ Commercial – outside of downtown property.
- Purchaser required to verify that current zoning will allow for their intended use.
- RESTRICTIONS: Real estate sells subject to any and all existing matter of records, easements, city, county and state, building, use or zoning laws and restrictions.
- RISK OF LOSS: Any risk of loss to the property shall be borne by Seller until title has been conveyed to the Purchaser.
- TERMINOLOGY: As the context may require in these terms (1) the singular shall mean the plural and vice versa; (2) all pronouns shall mean and include the person, entity, firm or corporation to which they relate.
- ADDITIONAL AUCTION INFORMATION: All information published, announced or contained herein was derived from sources believed to be correct; however, it is not guaranteed by the Seller or the Auctioneer. Personal on-site inspection of all property is recommended. The failure of any bidder to inspect, or to be fully informed as to the condition of the property, will not constitute grounds for any claim or demand for adjustment or withdrawal of bid, offer or deposit money after its opening tender. This includes but is not limited to public information such as easements, restrictions, zoning, rights-of-way, or any other information that can be obtained as public record in the appropriate County Courthouse concerning subject properties.
- Internet Bidders who desire to make certain their bid is acknowledged should leave their maximum bid 24 hours before the Auction ends. Email notifications may be sent to registered bidders with updated information as deemed necessary by Alexander Auctions.
- If you have any problems with the website, call Marknet Customer Service at 1-888-307-6545 and/or Alexander Auctions at (731) 587-4244.
- Property is being sold subject to these terms and conditions and Exhibits and Attachments which will be attached to the Purchase and Sale Agreement (Contract) for future reference.
- All bidders agree and accept these terms and conditions and agree to bid according to these terms when they register for a bid number.
WE APPRECIATE YOU ATTENDING THIS AUCTION AND WE WILL BE GLAD TO ANSWER ANY QUESTIONS YOU MAY HAVE.
EXHIIBIT “A”
GENERAL CONDITION INFORMATION FOR DESCRIPTIVE & INFORMATIONAL PURPOSES ONLY
- Office and Factory Building has some roof leaks in various areas.
- Some of the rooms may have one or more drop-in ceiling tiles missing, removed, and unrepaired.
- No additional repairs will be made.
- The building has other areas that may require deferred maintenance included but not limited to baseboard repair, lighting, plumbing, heat and air, equipment, and other repairs.
- Bidders should make their own inspection and complete their own due diligence.
- Property and improvements sell “As Is” and no repairs or improvements will be made.
FORMER MILLER HAM COMPANY LIQUIDATION
ON-LINE ONLY AUCTION
BIDDING ENDS – MONDAY – JUNE 28TH, 2021– 12:00 NOON
485 OLD SYMSONIA ROAD
BENTON, KY 42025
ALL BIDDERS MUST REVIEW THESE AUCTION TERMS AND CONDITIONS AND AGREE TO ENTER BIDS ACCORDING TO THESE TERMS AND CONDITIONS.
- THE PROPERTY LISTED AND DESCRIBED ON THE ATTACHED LIST WILL BE OFFERED UNDER THE FOLLOWING TERMS AND CONDITIONS OF SALE, WHICH TERMS AND CONDITIONS OF SALE AND DESCRIPTIONS OF ITEMS LISTED ON THE ATTACHED, MAY BE AMENDED, UPDATED OR ALTERED AT THE TIME AND DURING THE SALE BY THE AUCTION COMPANY.
- THESE TERMS AND CONDITIONS OF SALE AND ANY ANNOUNCEMENTS POSTED BY THE AUCTION COMPANY SHALL BE BINDING ON ANY BIDDER, WHETHER PRESENT, REPRESENTED BY AN AGENT OR ABSENTEE BIDDER. BUYERS ARE BOUND BY THESE TERMS AND CONDITIONS OF SALE.
- TERMS OF SALE: ALL PROPERTY IS SOLD “AS-IS’ AND ‘WHERE-IS’ AND NEITHER ALEXANDER AUCTIONS & REAL ESTATE SALES NOR THE SELLER MAKES ANY EXPRESS OR IMPLIED WARRANTY OR REPRESENTATION OF ANY KIND OR NATURE WITH RESPECT TO THE PROPERTY BEING SOLD. IN NO EVENT SHALL ALEXANDER AUCTIONS & REAL ESTATE SALES OR THE SELLER BE RESPONSIBLE FOR THE CORRECTNESS OF OR BE DEEMED TO HAVE MADE ANY REPRESENTATION OR WARRANTY OF MERCHANTABILITY, FITNESS FOR PURPOSE, DESCRIPTION, SIZE, GENUINENESS, YEAR OF MANUFACTURE, ATTRIBUTION, PROVENANCE OR CONDITION CONCERNING THE PROPERTY OR ANY WARRANTY THAT ANY ITEM COMPLIES WITH ANY APPLICABLE FEDERAL OR STATE LAWS. NO STATEMENT SET FORTH IN THE ATTACHED LIST OR MADE AT THE SALE OR IN THE BILL OF SALE OR INVOICE OR ELSEWHERE, WHETHER ORAL OR WRITTEN, SHALL BE DEEMED SUCH A WARRANTY OR REPRESENTATION OR AN ASSUMPTION OF LIABILITY. ALEXANDER AUCTIONS & REAL ESTATE SALES MAKES NO REPRESENTATION OR WARRANTY AS TO THE ACCURACY OF THE DESCRIPTIONS OR REPRESENTATIONS WHICH WERE PROVIDED BY THE SELLER AND ARE LISTED ON THE ATTACHED OR AS TO THE CONDITION OF THE ITEM.
- CONDITIONS OF ITEMS SOLD: ALL INFORMATION IS BELIEVED TO BE ACCURATE, HOWEVER THE AUCTIONEER SHALL NOT BE RESPONSIBLE FOR THE CORRECT DESCRIPTION, AUTHENTICITY, GENUINENESS OF OR DEFECT IN ANY LOT, AND MAKES NO WARRANTY IN CONNECTION THEREWITH. NO ALLOWANCES WILL BE MADE OR SALE SET ASIDE ON ACCOUNT OF ANY INCORRECTNESS, ERROR IN CATALOGING OR ANY IMPERFECTION NOT NOTED. NO DEDUCTION WILL BE ALLOWED ON DAMAGED ARTICLES AS ALL GOODS BEING EXPOSED FOR PUBLIC EXHIBITION ARE SOLD "AS IS” AND WITHOUT RECOURSE.
- ITEMS LOCATED ON-SITE AT 485 OLD SYMSONIA ROAD, BENTON, KY 42025.
- EXTENDED ALL BIDDING: EACH TIME A BID IS PLACED ON AN ITEM IN THE FINAL FIVE (5) MINUTES OF THE AUCTION, BIDDING TIME FOR ALL ITEMS INCLUDING THE REAL ESTATE WILL BE AUTOMATICALLY EXTENDED FIVE (5) MINUTES FROM THE TIME THE BID WAS PLACED ON ANY LOT. EXAMPLE: IF AN AUCTION IS SCHEDULED TO END AT 12 P.M. AND AN ITEM RECEIVES A BID AT 11:59 P.M., THE CLOSING TIME OF ALL ITEMS INCLUDING REAL ESTATE WILL AUTOMATICALLY EXTENDS TO 12:05 P.M. THE AUTO-EXTEND FEATURE REMAINS ACTIVE ON ALL LOTS UNTIL NO FURTHER BIDS ARE RECEIVED WITHIN A FIVE-MINUTE TIME FRAME ON ALL LOTS INCLUDING THE REAL ESTATE. ALL LOTS INCLUDING THE REAL ESTATE WILL END AT THE SAME TIME. THIS PROVIDES EVERY BIDDER THE OPPORTUNITY TO BID THEIR MAXIMUM BID.
- ON-LINE BIDDING: A 10% BUYER’S PREMIUM WILL BE ADDED TO THE PURCHASE PRICE OF EACH ITEM TO REACH THE TOTAL SALES PRICE.
- ALL PROSPECTIVE BIDDERS ARE REQUIRED TO PRE-REGISTER FOR A BIDDING NUMBER AND GIVE EVIDENCE OF THEIR CREDIT-WORTHINESS.
- PAYMENT: BUYER AGREES THAT ALL PURCHASES MUST BE PAID IN FULL NO LATER THAN JUNE 29TH, 2021 BY 4:30 P.M. ALL PAYMENTS ARE TO BE MADE IN U.S. CURRENCY BY CASH, CASHIER'S BANK CHECK, CERTIFIED BANK CHECK, OR PERSONAL CHECK WITH IRREVOCABLE LETTER OF GUARANTY IN FAVOR OF ALEXANDER AUCTIONS & REAL ESTATE SALES, REQUIRED OF ALL PURCHASERS NOT PERSONALLY KNOWN BY THE AUCTION COMPANY. A SAMPLE BANK LETTER OF GUARANTY IS POSTED AFTER THE TERMS.
- ON-LINE BIDDERS: YOUR CREDIT CARD WILL BE CHARGED IMMEDIATELY FOLLOWING THE AUCTION
FOR ITEMS UNDER $500.00 TOTAL WHEN CREDIT CARDS ARE ACCEPTED PAYMENT.
- ALEXANDER AUCTIONS & REAL ESTATE SALES DOES NOT TOLERATE ANY EXCUSES FOR A CHECK THAT DOES NOT CLEAR. PERSONAL CHECKS ARE ACCEPTED FROM PEOPLE WHO WE HAVE APPROVED AND WE EXPECT THESE CHECKS TO CLEAR THE BANK IMMEDIATELY.
- TO BE AN APPROVED ON-LINE BIDDER AT THIS AUCTION YOU MUST HAVE A VALID VISA OR MASTERCARD CREDIT CARD ON FILE.
- ALL ITEMS PURCHASED ARE TO BE PICKED UP AT THE AUCTION SITE:
LOTS 1A THRU 13 - JUNE 29TH AND JUNE 30TH FROM 9:30 A.M. TILL 4:30 P.M.
LOTS 105 THRU 112 - JUNE 29TH AND JUNE 30TH FROM 9:30 A.M. TILL 4:30 P.M.
LOTS 100 THRU 104 (STEEL HAM TREE RACKS) – JUNE 29TH AND JUNE 30TH FROM 9:30 A.M. TILL 4:30 P.M. ADDITIONAL REMOVAL TIME ALLOWED BY APPOINTMENT ON OR BEFORE JULY 22ND – PURCHASER MUST COMPLETE REMOVAL WHEN JOB IS STARTED. YOU WILL NOT BE ALLOWED TO PICK UP A FEW AT A TIME.
NO PICK UPS ON JULY 1ST – JULY 5TH, 2021.
BUYER TO PROVIDE LABOR TO PICK UP, LOAD, AND REMOVE ANY ITEM THEY PURCHASE.
- BIDDER CONTRACT: THIS BIDDER CONTRACT ENTERED INTO BETWEEN THE BIDDER WHOSE NAME IS REGISTERED AND ALEXANDER AUCTIONS & REAL ESTATE SALES SHALL GOVERN THIS AUCTION AND HE/SHE AGREES WITH THE TERMS AND CONDITIONS. ADDITIONAL TERMS WHICH MAY BE POSTED ON SITE OR POSTED ONLINE ON ALEXANDER AUCTIONS’ WEBSITE AND ARE JUST AS BINDING AS THE PRINTED TERMS AND CONDITIONS.
- FULL PAYMENT: ALL ITEMS MUST BE PAID FOR IN FULL BEFORE ANY PURCHASE OF PERSONAL PROPERTY LEAVE THE PREMISES. NOTHING MAY BE REMOVED UNTIL IT IS SETTLED FOR. PAYMENT FOR PURCHASES MUST BE MADE BY CASH OR CASHIER’S CHECK, PERSONAL CHECK OR BUSINESS CHECK. LETTERS OF CREDIT OF GUARANTEE MUST BE FOR THIS AUCTION ONLY, ALONG WITH PROOF OF IDENTITY. BIDDER AGREES NOT TO STOP PAYMENT ON CHECKS OR DISALLOW A BANK DRAFT AND IS RESPONSIBLE FOR ANY EXPENSES DUE TO COLLECTION OF BAD CHECK. IN THE EVENT OF NON-PAYMENT OF BAD-CHECK, THE AUCTIONEER RESERVES THE RIGHT TO REPOSSESS THE MERCHANDISE INVOLVED, AT ANY TIME, AT YOUR LOCATION.
- COMPLIANCE WITH THE TERMS OF SALE: IN DEFAULT OF PAYMENT OF BILLS IN FULL WITHIN THE TIME ANNOUNCED FOR THIS AUCTION THE AUCTIONEER IN ADDITION TO ALL OTHER REMEDIES ALLOWED BY LAW, MAY RETAIN ALL MONIES RECEIVED AS DEPOSIT OR OTHERWISE, AS LIQUIDATED DAMAGES. LOTS NOT PAID FOR WITHIN THE TIME SPECIFIED HEREIN MAY BE RESOLD AT PUBLIC OR PRIVATE SALE WITHOUT FURTHER NOTICE. ANY RESULTING DEFICIENCY TOGETHER WITH ALL EXPENSES AND COSTS OF RE-SALE WILL BE THE RESPONSIBILITY OF THE DEFAULTING PURCHASER. EACH BUYER IN MAKING A BID DOES HEREWITH AGREE TO COMPLY WITH THE TERMS AND CONDITIONS AS HEREIN STATED AND AS OTHERWISE SET FORTH. THE FAILURE OR DEFAULT BY A SUCCESSFUL BUYER TO FULLY COMPLY WITH THE TERMS AND CONDITIONS HEREIN WILL BE TREATED AS AN IMMEDIATE BREACH AND THE DEPOSIT AS MADE RETAINED AND APPLIED TOWARD ANY DEFICIT IN ADDITIONAL COSTS OR CHARGES AS INCURRED TO AFFECT THE RESALE OF THAT PROPERTY AT PRIVATE OR PUBLIC SALE. THERE SHALL BE NO FURTHER NOTICE REQUIRED TO THE BUYER ONCE A DEFAULT HAS OCCURRED. THE OBLIGATION OF THE BUYER SHALL BE FOR COSTS AS INCURRED, PLUS ANY DEFICIT INCLUDED ARISING FROM THE BUYER’S DEFAULT.
- ALL ITEMS ARE AVAILABLE FOR VIEWING DURING THE OPEN HOUSE THURSDAY, JUNE 17TH, 2021 FROM 2 P.M. TILL 5 P.M. AND THURSDAY, JUNE 24TH, 2021 FROM 2 P.M. TILL 5 P.M. BEFORE THE ITEM IS OFFERED FOR AUCTION, BIDDER SHOULD MAKE AN INSPECTION OF THESE ITEMS BEFOREHAND SO THAT YOU ARE SATISFIED WITH THEIR CONDITION.
- BIDDING DISCLOSURE: ANYONE CAN BID IN THIS AUCTION INCLUDING THE AUCTIONEER AND ANY AUCTION COMPANY EMPLOYEES.
- ALL PROSPECTIVE BIDDERS SHALL DETERMINE THE ACTUAL YEAR OF MANUFACTURE AND CONDITION OF EACH ITEM.
- BIDDERS WHO BID OFF-SITE AND ARE NOT PRESENT AT THE PREVIEW UNDERSTAND AND ACKNOWLEDGE THAT THEY MAY NOT BE ABLE TO INSPECT AN ITEM AS WELL AS IF THEY EXAMINED IT IN PERSON. IT IS THE BIDDER’S RESPONSIBILITY TO DETERMINE CONDITION, AGE, GENUINENESS, VALUE OR ANY OTHER DETERMINATIVE FACTOR.
- ALEXANDER AUCTIONS & REAL ESTATE SALES IS PROVIDING INTERNET AUCTION BIDDING AS A SERVICE TO BIDDER. BIDDER ACKNOWLEDGES AND UNDERSTANDS THAT THIS SERVICE MAY OR MAY NOT FUNCTION CORRECTLY THE DAY OF THE AUCTION. UNDER NO CIRCUMSTANCES SHALL BIDDER HAVE ANY KIND OF CLAIM AGAINST ALEXANDER AUCTIONS & REAL ESTATE SALES OR ANYONE ELSE IF THE INTERNET SERVICE FAILS TO WORK CORRECTLY BEFORE OR DURING THE LIVE AUCTION. ALEXANDER AUCTIONS & REAL ESTATE SALES WILL NOT BE RESPONSIBLE FOR ANY MISSED BIDS FROM ANY SOURCE. INTERNET BIDDERS WHO DESIRE TO MAKE CERTAIN THEIR BID IS ACKNOWLEDGED SHOULD LEAVE THEIR MAXIMUM BID 24 HOURS BEFORE THE AUCTION BEGINS.
- ALL SALES ARE FINAL. ALL PURCHASERS ARE RESPONSIBLE FOR THE ITEM UPON THE FALL OF THE HAMMER. FALL OF THE HAMMER IN THIS ON-LINE AUCTION SHALL BE WHEN THE BIDDING ENDS AND THE FINAL BIDDER BECOMES THE WINNER. ALEXANDER AUCTIONS & REAL ESTATE SALES DOES NOT ACCEPT ANY MERCHANDISE BACK BECAUSE YOU DECIDE THAT YOU DO NOT WANT IT OR YOU DECIDE YOU OVERPAID FOR IT. IF YOU PURCHASE AN ITEM AND DO NOT PAY FOR IT, THEN WE WILL PROCEED TO COLLECT FOR THE ITEM IN A LEGAL MANNER.
- WARRANTY: ALL ITEMS ARE SOLD “AS IS”, “WHERE IS”, WITHOUT GUARANTEE OF ANY KIND. NO WARRANTY ON QUALITY, CONDITION, MERCHANTABILITY, OR FITNESS FOR INTENDED USE OR ANY PARTICULAR PURPOSE OR PARTICULAR USE IS GIVEN. ALL MERCHANDISE IS CONSIDERED USED AND ALL SALES ARE FINAL!! NO RETURNS OR CHARGE BACKS ALLOWED! RETURNS AND CHARGE BACKS WILL RESULT IN A BLACK FLAG WITH MARKNET ALLIANCE.
- THE DESCRIPTIONS OF ITEMS APPEARING IN ADVERTISING PRIOR TO THIS AUCTION ARE BELIEVED TO BE CORRECT. NEVERTHELESS, NEITHER THOSE DESCRIPTIONS NOR ANY ORAL STATEMENTS MADE BY THE OWNER (OR HIS AGENTS OR OFFICERS) OR THE AUCTIONEER (OR HIS AGENTS OR OFFICERS) CONCERNING ANY ITEM SHALL BE CONSTRUED AS A WARRANTY, EITHER EXPRESSED OR IMPLIED. BIDDER AGREES TO INSPECT THE
ITEMS THEY ARE BIDDING ON AND TO SATISFY THEMSELVES AS TO THE PROPER NAME, AGE, AND CONDITION OF THE ITEM. THE BIDDER AGREES THAT I HAVE EXAMINED THIS MERCHANDISE AND ACCEPT IT IN “AS IS” CONDITION.
- ATTORNEY FEES: IN AN ACTION ARISING OUT OF THIS AGREEMENT, THE PREVAILING PARTY SHALL BE ENTITLED TO REASONABLE ATTORNEY FEES AND COSTS.
- ANY COURT LITIGATION SHALL BE IN WEAKLEY COUNTY, TN.
- ALEXANDER AUCTIONS & REAL ESTATE SALES WILL NOT TOLERATE ANY PILFERING OR TAKING OF ANY ITEM OR THEFT OF ANY ITEM. ANY WRONGDOING WILL BE PROSECUTED TO THE FULLEST EXTENT OF THE LAW.
- CONFIRMATION OF PURCHASE: TITLE TO THE PROPERTY SHALL PASS TO THE BUYER UPON THE FALL OF THE AUCTIONEER'S HAMMER OR CLOSE OF THE AUCTION, SUBJECT TO THE COMPLIANCE OF THE CONDITIONS OF SALE. BUYER ASSUMES ALL RESPONSIBILITY FOR THE ITEM OR ITEMS AND SHALL PAY THE TOTAL PURCHASE PRICE.
- INTERNET BIDDERS WHO DESIRE TO MAKE CERTAIN THEIR BID IS ACKNOWLEDGED SHOULD USE THE MAXIMUM BIDDING FEATURE AND LEAVE THEIR MAXIMUM BID 24 HOURS BEFORE THE AUCTION ENDS.
- BIDDERS ARE INFORMED SOME LOTS ARE SOLD AS A SINGLE LOT & SOME LOTS ARE SOLD INDIVIDUALLY (TIMES THE MONEY PER PIECE).
- KENTUCKY SALES TAX: SALES TAX WILL BE COLLECTED ON THE PERSONAL PROPERTY.
- REMOVAL OF PROPERTY OR STORAGE: NONE OF THE PROPERTY MAY BE REMOVED FROM THE PREMISES UNTIL THE TOTAL PURCHASE PRICE HAS BEEN PAID. ALL ITEMS MUST BE REMOVED ACCORDING TO THE “PICK UP AND REMOVAL SCHEDULE”. ANY ITEMS LEFT AND NOT REMOVED FROM THE PREMISES REMAIN AT THE SOLE RISK OF THE BUYER. REMOVAL SHALL BE AT THE EXPENSE, LIABILITY, AND RISK OF THE PURCHASER. PURCHASES CAN BE REMOVED ONLY ON PRESENTATION OF ORIGINAL BILL OF SALE. PHOTOSTATS OF BILLS OF SALE WILL NOT BE ACCEPTED FOR REMOVAL. UPON FAILURE OF PURCHASER TO REMOVE GOODS WITHIN TIME SPECIFIED AS POSTED OR ANNOUNCED, AUCTIONEER SHALL HAVE THE OPTION OF REMOVING AND STORING THE GOODS AT EXPENSE AND RISK OF THE PURCHASER OR DEEMING MONEY DEPOSIT FORFEITED IN WHICH CASE AUCTIONEER MAY RESELL WITHOUT NOTICE AT PUBLIC SALE OR OTHERWISE DISPOSE OF GOODS AT RISK AND EXPENSE OF PURCHASER. PURCHASER SHALL REMAIN LIABLE FOR LOSS, EXPENSE AND DAMAGES ARISING FROM THE PURCHASER’S DEFAULT.
- BUYER IS RESPONSIBLE FOR ALL LOADING INCLUDING LABOR AND LOADERS. SELLER AND ALEXANDER AUCTIONS & REAL ESTATE SALES DOES NOT PROVIDE LOADING.
- NO ITEM CAN BE REMOVED THE DAY OF THE AUCTION – MONDAY, JUNE 28TH, 2021.
- BUYER IS RESPONSIBLE FOR ANY PROPERTY DAMAGE THEY CAUSE TO THE PROPERTY INCLUDING BUT NOT LIMITED TO THE LAND, BUILDING, FLOORS, WALLS, DOORS, AND ETC. WHILE REMOVING THEIR PURCHASES.
- REMOVAL OF ALL ITEMS: ALL ITEMS MUST BE REMOVED ACCORDING TO THE TIME DETAILS POSTED IN THE PERSONAL PROPERTY PICK UP AND REMOVAL SCHEDULE FOLLOWING THESE TERMS.
- ALL ITEMS LOCATED OUTSIDE, INCLUDING SALVAGE ITEMS, MUST BE REMOVED ON OR BEFORE THURSDAY, JULY 15TH, 2021.
- LOADING ON ANY DAY AFTER WEDNESDAY, JUNE 30TH, 2021 MUST BE BY APPOINTMENT ONLY. CALL ALEXANDER AUCTIONS & REAL ESTATE SALES AT (731) 587-4244 OR (731) 225-7368.
- PURCHASERS SHALL PROVIDE THEIR OWN PHYSICAL AND LIABILITY INSURANCE COVERAGE FOR THEMSELVES, EMPLOYEES AND THEIR RIGGERS. PURCHASERS ARE RESPONSIBLE FOR THEIR OWN INSURANCE COVERAGE FOR PROPERTY DAMAGE AND LIABILITY COVERAGE FOR THEMSELVES, THEIR EMPLOYEES, THEIR RIGGERS AND FORMER MILLER HAM COMPANY WHILE VISITING, LOADING AND REMOVING PURCHASES. PURCHASERS SHALL HOLD HARMLESS THE SELLERS AND ALEXANDER AUCTIONS & REAL ESTATE SALES FROM ANY LIABILITY OR PROPERTY DAMAGE CAUSED BY THEM.
- ALEXANDER AUCTIONS & REAL ESTATE SALES AND THE SELLER IS NOT AND WILL NOT BE RESPONSIBLE FOR OR FURNISH ANY SECURITY FOR ITEMS AFTER THE FALL OF THE HAMMER.
- INSURE ITEMS WHEN YOU PURCHASE THEM.
- BIDS: ALEXANDER AUCTIONS & REAL ESTATE SALES RESERVES THE RIGHT TO ACCEPT ABSENTEE BIDS FROM INDIVIDUALS AND WILL EXECUTE THESE BIDS. ITEMS WILL BE SOLD TO SAID INDIVIDUALS PROVIDED THEY ARE THE HIGH BIDDER.
- DISPUTE BETWEEN BIDDERS: IF ANY DISPUTE ARISES BETWEEN TWO OR MORE BIDDERS, THE AUCTIONEER MAY DECIDE THE SAME OR MAY IMMEDIATELY PUT THE LOT OR ITEM UP FOR SALE AGAIN, AND RE-SELL TO THE HIGHEST BIDDER. THE DECISION OF THE AUCTIONEER SHALL BE FINAL AND ABSOLUTE.
- ADDITION TO OR WITHDRAWAL FROM SALE: THE AUCTIONEER RESERVES THE RIGHT TO WITHDRAW FROM SALE ANY OF THE ITEMS; TO SELL AT THIS AUCTION ITEMS NOT LISTED; TO GROUP ONE OR MORE LOTS INTO ONE OR MORE SELLING LOTS OR TO SUBDIVIDE INTO TWO OR MORE SELLING LOTS. THE AUCTIONEER ALSO RESERVES THE RIGHT TO SELL ALL OF THE ITEMS LISTED IN BULK.
- AUCTIONEER: THE AUCTIONEER, WHEN ACTING AS AGENT, IS NOT RESPONSIBLE FOR ACTS OF ITS PRINCIPALS.
- OWNERSHIP: ALL ITEMS BECOME THE SOLE RESPONSIBILITY OF THE PURCHASER IMMEDIATELY AT KNOCKDOWN. NO REFUNDS OR ADJUSTMENTS WILL BE ALLOWED FOR ANY SHORTAGES. IF YOU BELIEVE YOU ARE ENTITLED TO AN ADJUSTMENT TO YOUR INVOICE DUE TO MISSING OR DAMAGES ITEM(S), YOU, YOUR MOVER OR YOUR RIGGER MUST REPORT THE PROBLEM TO OUR ON-SITE SUPERVISOR PRIOR TO SETTLEMENT AND PRIOR TO THE ITEMS LEAVING THE PROPERTY. ONCE THE ITEM HAS LEFT THE PROPERTY, THERE WILL BE NO ADJUSTMENTS. WHEN YOU HIRE A MOVER/RIGGER, THE MOVER/RIGGER IS ACTING AS YOUR AGENT. WE WILL NOT ACCEPT THAT THE MOVER/RIGGER DID NOT NOTIFY YOU OF A MISSING OR DAMAGED ITEM(S) OR THAT IT WAS DISCOVERED THAT AN ITEM(S) WAS MISSING OR DAMAGED WHEN YOUR
PURCHASES WERE DELIVERED TO YOUR FACILITY. ALL BIDDERS AND MOVERS/RIGGERS MUST BE AWARE OF THIS POLICY! IF FOR ANY REASON WHATSOEVER, A PROPERTY AS BID, CANNOT BE DELIVERED WITHIN THAT PERIOD OF TIME PROVIDED FOR AT THE SALE, THE BUYER EXPRESSLY WAIVES LIABILITY ON THE PART OF ALEXANDER AUCTIONS & REAL ESTATE SALES, THE AUCTIONEER AND FURTHER AGREES THAT ANY OBLIGATION WITH RESPECT THERETO SHALL BE LIMITED TO THE BID PAID FOR SAID PROPERTY (ASSETS).
- NON-DELIVERY RESPONSIBILITY: AUCTIONEER SHALL NOT, IN ANY EVENT, BE LIABLE FOR NON-REMOVAL OR FOR ANY OTHER MATTER TO ANY PURCHASER OF ANY LOT.
- PERSONAL AND PROPERTY RISK: PERSONS ATTENDING DURING EXHIBITION, SALE OR REMOVAL OF GOODS ASSUME ALL RISKS OF DAMAGE OF OR LOSS TO PERSON AND PROPERTY AND SPECIFICALLY RELEASE AND INDEMNIFY ALEXANDER AUCTIONS & REAL ESTATE SALES, THE AUCTIONEER FROM LIABILITY THEREFORE. NEITHER ALEXANDER AUCTIONS & REAL ESTATE SALES, THE AUCTIONEER NOR HIS PRINCIPAL OR SELLER SHALL BE LIABLE BY REASON OF ANY DEFECT IN OR CONDITION OF THE PREMISES IN WHICH THE SALE IS HELD.
- RECORDS: THE RECORD OF SALE KEPT BY ALEXANDER AUCTIONS & REAL ESTATE SALES, THE AUCTIONEER AND BOOKKEEPER WILL BE TAKEN AS FINAL IN THE EVENT OF ANY DISPUTE.
- NOMINAL BIDS: ANY BID WHICH IS MERELY A NOMINAL OR FRACTIONAL ADVANCE MAY BE REJECTED BY THE AUCTIONEER, IF IN HIS JUDGMENT IT MAY AFFECT THE SALE NEGATIVELY.
- THE BUYER DOES HEREBY ASSUME AND DOES AGREE TO INDEMNIFY AND HOLD ALEXANDER AUCTIONS & REAL ESTATE SALES, THE AUCTIONEER AND SELLER HARMLESS FROM ANY FUTURE CLAIM WHICH SHALL PERTAIN TO THE FITNESS OR USE OF THAT ASSET AS BEING PURCHASED.
- ADDITIONAL TERMS AND CONDITIONS: ADDITIONAL TERMS OR CONDITIONS OF SALE MAY BE ADDED BY AUCTIONEER BY ANNOUNCEMENT OR POSTED ON THE PREMISES PRIOR TO THE AUCTION.
- CONDUCT OF AUCTION: ALEXANDER AUCTIONS & REAL ESTATE SALES, THE AUCTIONEER, RESERVES THE RIGHT, WITHOUT GIVING ANY REASON, TO PUT UP ITEMS OUT OF NUMERICAL SEQUENCE AND TO WITHDRAW ANY ITEM, ITEMS, OR LOT FROM THE AUCTION.
- ANY INDIVIDUAL HAS THE RIGHT TO BID IN THIS AUCTION, INCLUDING ANYONE ATTENDING THIS AUCTION, OWNERS, AUCTIONEERS OR PERSONNEL WORKING IN THIS AUCTION.
- ALL ANNOUNCEMENTS MADE FROM THE AUCTION STAND OR DURING THE AUCTION BIDDING PERIOD WILL TAKE PRECEDENCE OVER ANY PREVIOUS ANNOUNCEMENTS OR STATEMENTS.
- PURCHASER SHALL BE RESPONSIBLE FOR THE LOADING AND MOVING OF THEIR ITEMS. ALEXANDER AUCTIONS & REAL ESTATE SALES DOES NOT FURNISH HELP TO LOAD OR MOVE ITEMS
- ALL ITEMS ARE SOLD “AS IS” WITHOUT A WARRANTY OR GUARANTEE MADE, EXPRESSED OR IMPLIED AS TO THE CONDITION OR FITNESS FOR USE.
WE APPRECIATE YOUR ATTENDING THIS AUCTION & WILL BE GLAD TO ANSWER ANY QUESTIONS YOU MAY HAVE.
EXPLANATION OF WAYS TO BID:
Maximum Bid: Enter the maximum amount you are willing to bid for the item. The computer program will bid for you. When someone raises your bid, your bid will increase the minimum increment, if the next bidder bids the minimum increment. The program will keep you in the lead above the amount another bidder bids until you reach your maximum bid. Example 1: Bid amount is $100.00 - Asking $110.00 – Your bid $200.00 – Your bid will be entered at $110.00 unless someone else has a max bid of $150.00 then your bid will be entered at $160.00 until someone bids $170.00. Example 2: Bid amount is $100.00 - Asking $110.00 – You enter a max bid of $200.00 however someone else has already entered a max bid of $250.00 – The system will raise their bid to $210.00 and tell you your bid is lower than someone else’s bid. If you bid $250.00 the system will raise their bid to $250.00 which is their max. You must bid more to be in the winning position.
“Forcing the Bid” is a bidding strategy by which a bidder increases the bid by more than the next accepted bid (placing your bid at $150.00 when the accepted bid is $50.00). This practice is used by some bidders to discourage others from bidding, in hopes of acquiring an item at a lower price. This prevents someone else from bidding your max bid first.
There are many theories on the effectiveness of this practice and a bidder who wishes to apply it does so at their own discretion. The Auction Company will not lower the price of an item that has been won by a “jumped” bid with no other competing bids.
Extend All/Dynamic Bidding Auctions may extend the bidding time on any lot that gets a bid within a certain amount of time of its scheduled closing time. The Auction will remain open for all lots until no bids are placed in the allotted amount of time. The Auctioneer will determine the number of minutes necessary to activate dynamic bidding ahead of time.
Alexander
AUCTIONS & REAL ESTATE SALES
MARVIN E. ALEXANDER, CAI - LIC 9, FL 107
239 UNIVERSITY STREET ~ P.O. BOX 129 ~ MARTIN, TN 38237
Office: (731) 587-4244 ~ Email: [email protected]
CHECK OUT OUR WEBPAGE FOR UPCOMING AUCTIONS: www.alexanderauctions.com
PERSONAL PROPERTY PICK UP & REMOVAL SCHEDULE
NO PICK UPS JULY 1ST – JULY 5TH, 2021.
LOTS 1A THRU 13 - JUNE 29TH AND JUNE 30TH FROM 9:30 A.M. TILL 4:30 P.M.
LOTS 105 THRU 112 - JUNE 29TH AND JUNE 30TH FROM 9:30 A.M. TILL 4:30 P.M.
LOTS 100 THRU 104 (STAINLESS HAM TREE RACKS) – JUNE 29TH AND JUNE 30TH FROM 9:30 A.M. TILL 4:30 P.M.
ADDITIONAL REMOVAL TIME FOR STAINLESS HAM TREE RACKS WILL BE ALLOWED BY APPOINTMENT ON OR BEFORE JULY 22ND – PURCHASER MUST COMPLETE REMOVAL WHEN JOB IS STARTED. YOU WILL NOT BE ALLOWED TO PICK UP A FEW AT A TIME.
BUYER TO PROVIDE LABOR TO PICK UP, LOAD, AND REMOVE ANY ITEM THEY PURCHASE.
\\STORAGE\public\AUCTION\Terms\Dyersburg Elevator Online Auction 9-21-24 - Tools-Furniture.docx
PERSONAL PROPERTY PICK UP & REMOVAL SCHEDULE
NO PICK UPS JULY 1ST – JULY 5TH, 2021.
LOTS 1A THRU 13 - JUNE 29TH AND JUNE 30TH FROM 9:30 A.M. TILL 4:30 P.M.
LOTS 105 THRU 112 - JUNE 29TH AND JUNE 30TH FROM 9:30 A.M. TILL 4:30 P.M.
LOTS 100 THRU 104 (STAINLESS HAM TREE RACKS) – JUNE 29TH AND JUNE 30TH FROM 9:30 A.M. TILL 4:30 P.M.
ADDITIONAL REMOVAL TIME FOR STAINLESS HAM TREE RACKS WILL BE ALLOWED BY APPOINTMENT ON OR BEFORE JULY 22ND – PURCHASER MUST COMPLETE REMOVAL WHEN JOB IS STARTED. YOU WILL NOT BE ALLOWED TO PICK UP A FEW AT A TIME.
BUYER TO PROVIDE LABOR TO PICK UP, LOAD, AND REMOVE ANY ITEM THEY PURCHASE.