210000TERMS:
PACIFIC AUCTION EXCHANGE, California Realty Auctions, Inc. AS AGENT FOR THE SELLER will offer the property for auction on the EPAX Auctions LLC, internet website according to the following terms and conditions:
THIS AUCTION IS SUBJECT TO SELLER CONFIRMATION.
Announcements and information, provided on the EPAX website will take precedence over printed material. THE PROPERTY IS SOLD "AS IS," WITH NO CONTINGINCIES AS IT RELATES TO FINANCING APPRAISAL OR INSPECTIONS AND ALL SALES ARE FINAL. THE SUCCESSFUL BIDDER ACKNOWLEDGES THAT THE AUCTIONEER AND THE SELLER HAVE MADE NO IMPLIED WARRANTY OR REPRESENTATION OF ANY TYPE AS TO THE PROPERTY AND THAT THE PROPERTY IS SOLD WITHOUT ANY WARRANTIES WHATSOEVER, EXPRESSED OR IMPLIED AND SPECIFICALLY THERE IS NO WARRANTY OR MERCHANTABILITY AND NO WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE. Though all descriptions and information are believed to be correct, in no event shall auctioneer or seller be held responsible for having made or implied any warranty of description, genuineness, condition etc. The property is open to thorough public inspection at the published property preview dates.
Auctioneer reserves the right to withdraw any item before or during the auction. Only registered bidders may bid on the property being sold, any exceptions to this requirement shall be within the sole discretion of PACIFIC AUCTION EXCHANGE.,California Auctions, Inc Pacific Auction Exchange,CAlifornia Realty Auctions, Inc reserves the right to bid on behalf of the seller. No allowances, adjustments or rescission of sale will be allowed based upon failure of the property to correspond to a particular need. The registered bidder will be responsible for any purchase made with his or her unique EPAX identity and password.
A BUYER'S PREMIUM OF TEN (10%) OF THE SUCCESSFUL BID WILL BE USED TO ESTABLISH THE FINAL CONTRACT PRICE BY ADDING THE PREMIUM TO THE SUCCESSFUL BID.
Bidder acknowledges that a non-refundable deposit of $7000 is required to be deposited into the trust account within 48 hours after becoming the winning bidder; this money will be refunded if the sale is not approved by the lender.
RESPONSIBILITY OF BIDDER AND INDEMNIFICATION: Bidder agrees to assume the defense of and indemnify and hold harmless PACIFIC AUCTION EXCHANGE, California Realty Auctions, Inc. for all claims, loss, damage, injury and liability of every kind, directly or indirectly caused by acts of bidder and/or it's agents in connection with this auction or the use of the property by the successful bidder.
If the foregoing conditions or any other applicable conditions are not complied with, in addition to other remedies available to PACIFIC AUCTION EXCHANGE, California Realty Auctions, Inc and the Seller by law, including, without limitation, the right to hold the successful bidder liable for the bid price. PACIFIC AUCTION EXCHANGE, as its option may either (a) cancel the sale, retaining as liquidated damages all payments made by the successful bidder or (b) resell the property publicly or privately and in such event, the successful bidder shall be liable for payment of any deficiency plus all costs, including the holding costs of the property, the expense of both sales and PACIFIC AUCTION EXCHANGE COMMISSION (which is equal to the Buyer's Premium) and incidental damages. In any action to enforce and/or recover damages pursuant to this document PACIFIC AUCTION EXCHANGE shall be entitled to recover its attorney fees, expenses and all cost of suit incurred in such action.
BIDDER AGREES THAT ANY CONTROVERSY OR CLAIM ARISING OUT OF THIS AGREEMENT OR THE AUCTION OF SELLER'S PROPERTY SHALL BE SETTLED BY ARBITRATION AS SET FORTH IN THE AUCTION PURCHASE AGREEMENT.
BROKER PARTICIPATION INVITED: Subject to established PACIFIC AUCTION EXCHANGE, California Realty Auctions, Inc. guidelines. All information in this brochure was derived from sources believed correct, but is not guaranteed. ALL PROPERTY MEASUREMENTS ARE APPROXIMATE. It is Buyer's responsibility to verify all permits, property use and property specifications prior to the auction date.
PAX is agent of the seller.