Terms & Conditions of Sale
JEA & City of Jacksonville

1. BIDDER REGISTRATION: The auction is open to the public and your participation is encouraged. In order to participate in the auction, bidders must register with National Auction Company, displaying a Cashier’s Check, Money Order or cash as follows: Properties 1 through 22: $500.00 and made payable to National Auction Company; Properties 23 through 39: $1,000.00 and made payable to Edwards Cohen, PA Trust Account.
2. CONTRACT, DEPOSITS & PAYMENT: Upon being declared a top bidder on any property, a confirmation form will be presented indicating the property number, bid price, and bidder’s name and bidder’s card number. At this time, the Cashier’s Check, Money Order, or Cash will be applied as a partial deposit. The total non-refundable deposit due on each property sold: Properties 1 through 22: 20% of the purchase price; Properties 23 through 39: 10% of the purchase price of which the aforesaid Cashier’s Check, Money Order, or Cash will be made part. Any difference can be paid by personal or business check or cash. All deposits are due immediately following the sale of each property. The form of the contract of sale will be available for inspection prior to the auction and printed terms are not negotiable. In the event language contained in the contract of sale and auction materials are contradictory, language in the contract will prevail. Please do not leave the auction site without your copy of signed contracts.
3. PROPERTY INSPECTIONS: All bidders are encouraged to personally inspect the real estate being offered. All properties are offered and sold in "As-Is" condition. Property files maintained by the City of Jacksonville and JEA are available for each asset and bidders are encouraged to review these files. Pertinent information has been compiled on each property and can be obtained from National Auction Company. Most of the information can also be obtained via the Internet at the following address: www.coj.net. All information including legal descriptions, dimensions, zoning, or locations was derived from sources believed to be correct, however, is not guaranteed.
4. FORM OF AUCTION: Properties 1 through 22 will be offered and sold at Absolute Auction, without minimum or reserve. Properties 23 through 39 will be offered subject to Seller’s Confirmation of the top bid. The method and order of sale will be at the discretion of the auctioneer. Increments of bids and their acceptance will be at the discretion of the auctioneer. In the event there are not competing bids, the auctioneer in charge reserves the right to withdraw any asset from the auction. Please come prepared to purchase as these Sellers intend to sell every property.
5. CLOSING DATE: Contracts of sale will provide for closing within 30 days of the auction or sooner but no later than November 7, 2008. Properties 1-22 will take place at the office of Real Estate Division, 214 North Hogan Street, 10th Floor, Jacksonville, Florida 32202. Properties 23-28 closings will be handled by the law firm of Edwards Cohen, PA (JEA Attorneys).
6. CLOSING COSTS: The Seller of Properties 1-22, The City of Jacksonville, will prepare a Quit Claim Deed for each property in recordable form. The Seller of Properties 23-39, JEA, will provide a Special Warranty Deed. An Owner’s Title Insurance Policy showing title to each property to be good and insurable at the expense of the Purchaser(s). In the event it is necessary to reserve easements for existing underground utilities that are not yet of record, specific information will be made available prior to the auction showing the anticipated location of such. Closing costs, Florida Documentary Stamps, and Recording fees will be the expense of the purchaser. Examination of title shall be at the election and expense of the purchaser.
7. BUYER’S PREMIUM: No Buyer’s Premium will be charged at this auction. The contract price will be the high bid declared from the auction podium.
8. ORDER OF SALE: The properties will be offered and sold in the order as they appear in the auction brochure.
9. CONDUCT OF AUCTION: a. The method and order of sale will be at the sole discretion of the auctioneer. b. The auctioneer and the Sellers reserve the right to add or delete any property from the auction. c. Terms and conditions of sale may be modified by announcement from the auction podium prior to the start of the events. Any such announcement will take precedence over previously printed materials or oral statements made. d. In the event of any disputes between bidders, recognition of any tie bids or other matters, the auctioneer reserves the right to decide such matters. Any decision made will be final and binding. e. The auction is open to the public, however, the auctioneer reserves the right to refuse admittance or ask any person to leave who is disruptive or interferes with the conduct of the auction. f. The auction will be audio recorded to provide a permanent record.
10. AUCTION BROCHURE AND INFORMATION PROVIDED: All information contained in the auction brochure, due diligence packages, newspaper advertising, or by auction staff members is believed to be correct and was taken from the files of The City of Jacksonville and JEA. This information is not guaranteed and bidders are encouraged to personally inspect each property and the records for each. Bidders shall rely upon their own information and judgment. Dimensions provided may not be exact and are estimates. No guarantee is made with respect to matters involving title, zoning, compliance with current building codes, or minimum lot sizes required for construction.
11. PREVIEWS: The properties included with this auction can be inspected at your convenience on a drive by basis.

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