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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 check drawn payable to
themselves in the amount of $35,000.00.
2. PURCHASE AGREEMENT: The successful buyer
shall sign a Vessel Purchase Contract and Receipt and
endorse the certified check to Michael Vaughn’s 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 March 4, 2007.
3. INSPECTION: Previewing and inspection of is
essential. The vessel is 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 direction and 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. Seller reserves the right of
prior disposal of the vessel.
5. CORPORATE ASSETS: Other assets will be made
available to the high bidder.
6. BUYER PREMIUM: Ten percent (10%) will be
added to the successful high bid. The Buyer Premium (Fee) is
refundable if SELLER cannot deliver clear and marketable
title to the vessel, at close of escrow through no fault of
the Buyer.
7. 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
amount. Or, register and bid on the Internet:
www.marineauctionservices.com.
8. 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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