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1. GENERAL AUCTION INFORMATION:
This auction is being conducted pursuant to Order of The United
States Bankruptcy Court, Southern District of Florida, In Re: Frank Amelung
Jr. & Eugenia Maria Amelung, Case Number: 07-15492-BKC-PGH & Richard L.
Amelung, Case Number 07-15493-PGH.
2. AUCTION TIME AND PLACE: The auction will
be conducted on Friday, September 18, at 11:00 A.M. at 1180 SW 10th Street,
Delray Beach, Florida 33444.
3. BIDDER REGISTRATION: Bidder registration will begin two hours
before the auction at 9:00 A.M. on Auction Day. All bidders are required to
register with the Auctioneer and must deliver to the Auctioneer a Cashier’s
Check or its equivalent, in the amount of $25,000.00. All checks should be
made payable to the Court Appointed Trustee, Michael R. Bakst, Trustee. In
the event a bidder is not the Top Bidder, their deposit will be returned at
the conclusion of the auction.
4. CONDITION OF PROPERTY: The property will
be sold in As-Is condition without representations or warranty of any kind,
except as being free and clear of all liens, claims, interests and
encumbrances on an All Cash Basis. Bids made on the property are not
contingent upon the approval of financing, appraisal, post auction due
diligence or inspection of the property. Bidders are encouraged to inspect
the property prior to the auction event.
5. REAL ESTATE CONTRACT FORM: The Auctioneer will supply the form of
Real Estate Contract to be used in connection with this auction. The Top
Bidder (s) will be required to execute a Real Estate Contract at the
completion of the auction event. The form of Real Estate Contract will be
available for inspection prior to the auction, however, no other form can be
substituted. A copy of the Real Estate Contract form will also be included
in the Due Diligence Package which supplements the Auction Brochure. Due
Diligence Packages are available by request to National Auction Company.
6. DEPOSITS: Within 48 hours of the auction event, the successful top
bidder will be required to increase their deposit so that the total amount
being held, pending closing equals 10% of the total contract price. All
deposits will be held in the Trust Account of Michael R. Bakst, Trustee,
pending closing, The remainder of the contract price will be due at the time
of closing of the real estate contract.
7. FINAL HEARING: The sale resulting from this auction event is
subject to the confirmation of The Honorable Paul G. Hyman, Chief Judge,
United States Bankruptcy Court. Following the auction, the Auctioneer will
file a report with The United States Bankruptcy Court. A Final Hearing
before the United States Bankruptcy Court in West Palm Beach, Florida, will
be held at a date to be determined for confirmation of the sale. The top
bidder and other parties of interest will be apprised of the date and time
of the Final Hearing.
8. BUYERS’ PREMIUM: A 10% Buyers’ Premium will be added to all top
bid prices and included in the total contract price.
9. DATE OF CLOSING: The closing on the sale of the real estate will
be required to take place as soon as possible but not to exceed 30 days
after the entry of the Court’s order approving such sale.
10. CLOSING COSTS: Costs associated with the closing of the sale will
be the responsibility of the purchaser. The Trustee will provide a Title
Insurance Commitment which shows title to the property to be good and
insurable at the expense of the purchaser. Payment for required Documentary
Stamps to record the deed will be the responsibility of the purchaser. Real
estate taxes for the current year will be prorated to the date of closing.
The Trustee will deliver a Trustee's Deed at the time the transaction
closes.
11. REAL ESTATE BROKER PARTICIPATION: We welcome the participation of
other real estate brokers and their associates. A fee equal to 20% of the
compensation approved by The United States Bankruptcy Court to National
Auction Company and State Wide Realty Corporation will be paid to any duly
Florida licensed real estate broker or their associates who register a
prospective purchaser who purchases the property included in this auction
event. Licensed real estate brokers and their associates must register their
prospects with National Auction Company, in writing and received not later
than 5:00 P.M., September 17 at the office of National Auction Company, 1325
S. Congress Avenue, Suite 202, Boynton Beach, Florida 33426. Broker
Registrations can also be sent via facsimile to (561) 364-8803. Oral
registrations and registrations made via e-mail will not be accepted.
Brokers and their associates who register prospective bidders must attend
the auction with their prospect and be present at the time of Bidder
Registration.
12. CONDUCT OF AUCTION:
a. This auction will be conducted in accordance with the Court Order issued
by The Honorable Paul G. Hyman, Chief Judge, United States Bankruptcy Court
and the highest and best bids are subject to the approval of the Trustee
which will be followed by Court approval.
b. Bids will only be accepted from Bidders who have registered in accordance
with the Terms & Conditions of Sale.
c. In the event of tie bids or disputes between bidders, the Auctioneer will
make all final determinations and his decision will be final.d. The auction
will be video and/or digitally recorded to provide a record of the events.
e. Bidders should rely upon their own inspection of the property, public
records and judgment. All information provided by National Auction Company
was taken from information that is believed to be accurate, however, it is
not guaranteed. All measurements, stated square footages, zoning or other
information is not guaranteed and is provided for the convenience of
bidders.
f. The Trustee and Auctioneer reserve the right to offer Parcel 1 and Parcel
2 separately and together. It is the intension of the Trustee to liquidate
both parcels.
13. PREVIEWS: The property will be available for inspection on
Thursday, September 17, from 1:00 P.M. to 5:00 P.M. and two hours before the
start of the auction event. In addition, the property can be shown by
special appointment. Call the Auctioneer to schedule.
14. AUCTIONEER CONTACT INFORMATION: If additional information is
needed, please contact George Richards at National Auction Company (800)
659-7004; (954)658-5033 or grichards@natlauction.com. |
