LEASE TERMINATION AUCTION
RE: LEASE TERMINATION AUCTION! ALL MUST BE SOLD!
SELLS THURSDAY, MARCH 1, 2018, AT 1:00PM AT 6003 JERICHO TPKE, COMMACK, NEW YORK 11725
LARGE QUANTITY OF ASSORTED ULTRA DESIRABLE TEXTURE & PATTERN FABRICS
“OPEN” NEON SIGN
“A” FRAME LADDERS
INSPECTION: 12:00NOON DAY OF AUCTION
50% DEPOST CASH OR BANK CHECK MADE PAYABLE TO AMERICAN ALA, INC. / 15% BUYER’S PREMIUM
516/631.777.7295 / 800.837.0447 / www.AmericanAssetsOnline.com
MEMBER NAA, NYSAA, ABI, CAGA
Terms & Conditions of Auction Sale
1. Buyer is required to maintain a 50% deposit on all items purchased at the auction. This is a nonrefundable deposit.
2. A premium of 15% of the bid will be added to the price of each item purchased.
3. Deposits and payments will be accepted in the form of cash or cashiers’ check, wire transfer, or business check accompanied by a bank letter of
guarantee. Bank letters must contain specific information. Please see auction personnel for more information.
4. The condition of the merchandise being offered varies. The Buyer understands and agrees: (1) that any description or sample of the
merchandise given or furnished by the Auctioneer is derived from records, documents or other information that may be unverified as to accuracy,
and is solely for identification, and does not create any warranty, expressed or implied, that the merchandise actually conforms to such description or
sample; (2) that all merchandise is purchased and accepted by Buyer “AS IS” “WHERE IS” and “WITH ALL FAULTS.” AUCTIONEER MAKES NO
WARRANTIES OR GUARANTEES WHATSOEVER WHETHER WRITTEN, ORAL OR IMPLIED AS TO QUALITY, QUANTITY, CONDITION,
USABILITY, SALEABILITY, WEIGHT, MEASUREMENT, YEAR, MODEL, MECHANICAL CONDITION, PERFORMANCE, OR OTHER
SPECIFICATIONS. MANUFACTURERS WARRANTIES MAY BE IN EFFECT.
5. Auctioneer reserves the right to group, reduce, add or delete lots. In the event there is a dispute between two or more clients of entitlement as
the successful bidder, Auctioneer reserves the right to reauction the item in dispute.
6. Any announcements made on the day of the auction take precedence over catalog or other previously announced or documented information, but
do not alter any way the basic terms and conditions of sale.
7. No checkout will be permitted during the auction sale. All purchases mist be paid for in full before merchandise will be released from the
8. All purchases must be paid for on auction day. If not, the merchandise will be deemed abandoned and Buyer will lose any right, title or interest
Buyer may have acquired and the merchandise shall revert and repossess to Auctioneer without further notice to Buyer and the transactions shall be
null and void as to Buyer.
9. If any applicable conditions are not complied with by Buyer, then, in addition to other remedies available to Auctioneer, including and without
limitations, the right to hold Buyer liable for the total purchase price, Auctioneer may, at its option, (a) cancel the sale, retaining all payments made by
Buyer, and/or (b) resell the merchandise, for ay deficiency between Buyer’s original purchase price and subsequent resale price, Auctioneer’s
commission, and all other expenses related to the disposal of the abandoned property . In addition, a defaulting Buyer will be deemed to have
granted Auctioneer as a security interest in the merchandise which Auctioneer may retain as collateral security for Buyer’s obligation to Auctioneer.
10. Buyer is solely responsible to provide all personnel, equipment or material needed to pick up purchases and shall assume all responsibility for
the removal of any item of property purchased at the sale and any and all risks associated with such removal including, without limitations, full
financial responsibility for any damage or liability to persons or property resulting from any negligent act for omission of buyer or any buyer’s
employees, agents and/or representatives during pick-up and removal.
11. Buyer agrees that in the event purchased merchandise contains any environmental hazards, toxic waste or other type of hazardous material in
any form whatsoever, Buyer shall provide evidence that Buyer or its representatives are licensed for such removal and shall comply with all
applicable local, sta te and/or federal rules, laws and regulations. Auctioneer, its agents or representatives shall not be responsible for its
containment, storage or removal.
12. Persons in attendance during inspection, sale or removal of merchandise assume all risks of damage or loss to persons, property, or
merchandise and shall exercise proper precautions at all times for the protection of persons and property and shall comply with all safety and health
requirements as provided by local, state and federal regulations, and as directed by Auctioneer. Neither Auctioneer, its agents, its employees or
representatives shall be liable by reason of any defect in or about the condition of the premises on which the auction is held. Buyer specifically
releases Auctioneer, its agents and representatives from all liability thereof.
13. In no event will Auctioneer’s liability to Buyer exceed the purchase price actually paid. A Buyer’s claim shall be limited to the amount paid for the
merchandise, and shall not extend to any obligation; risk; liability; right; claim; remedy for loss of use, revenue or profit; liability of Buyer to any third
party; personal injury; or any other direct; indirect, incidental or consequential damages.
14. Buyer agrees to indemnify, defend and hold harmless Auctioneer and its agents and representatives, from any and all demands, claims, losses,
damages and liabilities asserted against, resulting to or imposed upon Auctioneer resulting from the negligence of Buyer or his/her employees,
agents and representatives, while in, at or about the auction premises during the inspection, sale or removal or merchandise.
15. Bidders’ paddles are nontransferable. All bids made by the holder of the paddle will be the responsibility of the Buyer. A successful bid at
auction constitutes a legally binding contract of sale.
ALL SALES ARE FINAL! NO REFUNDS, RETURNS OR EXCHANGES!
I have read, understand and agree to the above Terms and Conditions of Sale:
Signed_________________________________Date___________ Buyer Number__________