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Modern Builders Industrial Construction Company

Feb 5th, 2011No Comments

Sale Date

Thursday, September 15, 2011 Starting at 10:00 AM

Asset Location(s)

By Order Of Secured Party, Complete Closing of a Major Concrete & General Construction Contractor
Modern Builders Industrial Construction Company
1026 Moen Avenue
Rockdale (Joliet), Illinois

Sale Type

Webcast Onsite Auction

Buyers Premium

15% Onsite, 18 % Online

Inspection / Preview

Tuesday & Wednesday, September 13th & 14th, 9 AM – 4 PM

Pickup / Removal

Starting Friday, September 16th – Wednesday, September 20th, 9 AM – 4 PM, No Weekend or Holiday Removal unless prior arraigements have been made.

Terms of Sale

TERMS OF SALE
NOTICE: All bidders at this sale agree that they have read and have full knowledge of these terms and agree to be bound thereby.
1. IDENTIFICATION: All purchasers are required to register and give full name, address and credit card information.
2. PAYMENT: Invoices must be paid in full within 48 hours of the closing date of the sale unless otherwise specified. A BUYER’S FEE / PREMIUM of 15.00% WILL BE APPLIED TO INVOICE IN ADDITION TO THE SALES PRICE FOR CASH AND CERTIFIED FUNDS PAYMENTS – THIS REFLECTS A 3% DISCOUNT. CREDIT CARD AND NON CERTIFIED PAYMENT METHODS WILL BE CHARGED A 21% BUYERS PREMIUM; SALES TAX MAY APPLY TO ALL PURCHASES UNLESS BUYERS HAVE PROPER EXEMPTION. Business and Personal checks will not be accepted without a letter of verification from your bank similar to below.
(Your Bank Name) unconditionally guarantees payment to Heath Industrial from (Your Company Name) up to the amount of __________. This guarantee will be valid for purchases made at the auction of (Auction Name) on (Auction date). zzzz NO MERCHANDISE WILL BE RELEASED UNTIL INVOICE IS FULLY PAID.
3. REMOVAL: All purchases MUST be removed as herein listed:
REMOVAL HOURS STARTING THURSDAY,SEPTEMBER 15TH – WEDNESDAY, SEPTEMBER 20TH, 9 AM – PM. Purchases may be removed only on presentation of paid bill. Removal shall be at the expense, risk and liability of the purchaser. Auctioneer shall not be responsible for goods not removed within the time allowed, but shall have the option to remove and store at the expense and risk of the purchaser any article purchased, but not paid for and removed within the time aforesaid. Our supervisor will leave the facilities on WEDNESDAY, SEPTEMBER 20TH AT 4:00PM and all assets remaining at the facility will be considered abandoned.
4. MANNER OF PAYMENT: All deposits and balances due shall be payable to the order of HEATH INDUSTRIAL. All bills must be paid to Heath Industrial. All payments must be made by Cashier’s Check, Wire Transfer or Company Check with Bank Letter of Guarantee. The full purchase price on all lots sold to the same buyer must be paid in full within 48 hours of the auction closing date and before removal of any of the goods.
5. CONDITION OF ARTICLES SOLD: Neither the auctioneer nor the seller shall be responsible for the correct description, genuineness, authenticity of, or defect in any lot, and makes no warranty in connection therewith. No sale shall be set aside nor allowance made on account of any incorrectness, error in cataloging, or any imperfection not noted. ALL ARTICLES ARE EXPOSED FOR PUBLIC EXHIBITION & INSPECTION, AND SOLD “AS IS”, “WHERE IS” AND WITH ALL FAULTS, AND WITHOUT RECOURSE. ARTICLES ARE NOT WARRANTED AS MERCHANTABLE OR FIT FOR ANY PARTICULAR PURPOSE, AND NO CLAIM MAY BE MADE BY PURCHASER RELATING TO THE CONDITION OR USE OF ARTICLES PURCHASED OR FOR PROXIMATE OR CONSEQUENTIAL DAMAGES ARISING THEREFROM.
6. SAFETY DEVICES: Articles purchased may not incorporate approved activating mechanisms, operating safety devices or safety guards, as required by OSHA or otherwise. It is purchaser’s responsibility that articles purchased are so equipped and safeguarded to meet OSHA and any other requirements before placing such articles into operation.
7. INDEMNIFICATION: Purchaser shall defend and indemnify and hold auctioneer and seller harmless from and against all claims and liabilities relating to the condition of, removal of, or use of the articles purchased or failure of user to follow instructions, warnings or recommendations of the manufacturer, or to comply with federal, state, and local laws applicable to such articles, including OSHA requirements, and Environmental Protection Agency requirements, or for proximate or consequential damages, costs or legal expenses arising there from.
8. CLAIMS: NO CLAIMS WILL BE ALLOWED AFTER REMOVAL OF GOODS FROM PREMISES OR LEFT ON PREMISES PAST ALLOWED TIME LIMIT.
9. RESPONSIBILITY FOR NON- DELIVERY: Neither the auctioneer nor the seller, in any event, shall be liable for non- delivery or for any other matter or thing, to any purchaser of any lot, other than for the return to the purchaser of the deposit or sum paid on said lot, should the purchaser be entitled thereto.
10. COMPLIANCE WITH TERMS OF SALE: In default of payment of bills in full within the time therein specified, 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 and removed within the time allowed herein may be resold at public or private sale without further notice, and any deficiency, together with all expenses and charges of resale including legal fees, will be charged to the defaulting purchaser.
11. RISK TO PERSON AND PROPERTY: Persons attending during exhibition, sale or removal of goods assume all risks of damage of or loss to person and property and specifically release the auctioneer and seller from liability thereof. Neither the auctioneer nor his principal shall be liable by reason of any defect in, or condition of, the premises on which the sale is held. Bidder acknowledges that an auction site is a potentially dangerous place with heavy equipment being operated and electric circuits being live. Every person at the auction site before, during and after the auction sale shall be deemed to be there at their own risk with notice of the condition of the premises, the activities on the premises and the conduct of third parties and the Bidder shall so advise his agents and employees. No person shall have any claim against the Auctioneers, their agents, employees or principals for any injuries sustained nor for damages to or loss of property which may occur from any cause whatsoever.
12. CONTRACT MOVERS: ALL EQUIPMENT TO BE LOADED BY CONTRACT MOVERS, whose pricing for loading is listed on each item.
13. ADDITION TO OR WITHDRAWAL FROM SALE: The auctioneer reserves the right to withdraw from sale any of the property listed or to sell at this sale property not listed, and also reserves the right to group one or more lots into one or more selling lots or to subdivide into two or more selling lots. Whenever the best interest of the seller will be served, the auctioneer reserves the right to sell all the property listed, in bulk.
14. SALE BY ESTIMATED WEIGHT, COUNT OR MEASURE: When items are sold by estimated weight, count or measure, the purchaser will be billed for and required to pay for the estimated weight, count or measure. If, upon delivery, any shortage exists, the purchaser will receive a refund at the rate of purchase. If there be an excess, the purchaser will be required to take and pay for such excess, at the rate of purchase. (See Paragraph 3 for time and Guarantee Limitation.)
15. DISPUTE BETWEEN BIDDERS: If any dispute arises between two or more bidders, the auctioneer may decide the same or put the lot up for sale again, and resell to the highest bidder. The auctioneer’s decision shall be final and absolute.
16. RESERVE: The auctioneer reserves the right to reject any and all bids. On lots upon which there is a reserve, the auctioneer or his assigned agents, shall have the right to bid on behalf of the seller.
17. RECORDS: The record of sale kept by the auctioneer and bookkeeper will be taken as final in the event of any dispute.
18. INDEPENDENT CONTRACTOR: The auctioneer is acting as an independent contractor only and is not responsible for the acts of its principals or sellers.
19. BREACH: Without limiting other remedies, we may limit your activity, immediately remove your bids or Item listings, warn our community of your actions, issue a warning, temporarily suspend, indefinitely suspend or terminate your membership and refuse to provide our services to you if: (a) you breach this Agreement; (b) we are unable to verify or authenticate any information you provide to us; or (c) we believe that your actions may cause financial loss or legal liability for you, our Users or us
20. ADDITIONAL TERMS AND CONDITIONS: The auctioneer may add other terms and conditions of sale, such additional terms and conditions to be posted prior to the auction.