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1. REGISTRATION: All prospective buyers MUST register
in order to bid at the auction. Each bidder shall be required to possess a
certified, personal or business check drawn payable to themselves in the amount
of $5,000.00.
2. PURCHASE AGREEMENT: The successful buyer shall sign a Vessel Purchase
Contract and Receipt and endorse the check to: IB &M Trust Account. This amount
plus the difference, up to 10% of the total contract price, is payable by
personal/company check and credited toward the total contract price. If for any
reason, the buyer(s) are unable to complete the transaction, the Earnest Money
will be forfeited. Final settlement shall be on or before April 14, 2014.
3. INSPECTION: Previewing and inspection of is essential. The Vessels and
Equipment are being sold “AS IS – WHERE IS”.
4. SELLER’S & AUCTIONEER’S DISCLAIMER: All announcements made by the Auctioneer
shall take precedence over any previously written material or oral statements
made by auctioneer. Conduct of the auction, increments of the bidding, duration
of the auction and decisions as to the high bidder will be at the sole
discretion of the auctioneer. ALL information is subject to the inspection and
verification by all parties relying on it. NO GUARANTEE, WARRANTY OR
REPRESENTATION, EXPRESSED OR IMPLIED IS GIVEN ON THE INFORMATION CONTAINED IN
THE BROCHURE OR DUE DILIGENCE INFORMATION. The Seller and their agents expressly
disclaim any and all liabilities, which may be based on such information, errors
therein or omissions therefrom. ONLY such representation and warranties as may
be set forth in a definitive Vessel Purchase Contract between Seller and Buyer
shall have any legal effect. Auction offers are subject to Seller's approval and
reserves all rights of disposal of the vessel prior to auction.
5. BUYER PREMIUM: A ten (10%) fee will
be added to the successful high bid. The Buyer Premium is refundable if SELLER
cannot deliver clear and marketable title to the vessel, at close of escrow
through no fault of the Buyer.
6. ABSENTEE BIDS: Individuals unable to attend the auction may complete an
Absentee Bid Form, authorizing the auctioneer to bid on their behalf, up to a
specific written amount.
7. BROKER PARTICIPATION: Boat Brokers are encouraged to participate in the
Auction process and register their respective clients. Contact the Auctioneer
for Registration Forms. NO oral registrations will be accepted!
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