Milwaukee Heavy Duty Drill

TERMS OF SALE – Alhambra Building Co. December 5, 2014

NOTICE: By bidding on any lot you are creating a contract to buy. Failure to pay for any lot won will be a breach of your contract. The Auctioneer and Salvadore Auctions & Appraisals, Inc. reserves all rights to remedy any breach of contract by any bidder. All persons, bidders, interested parties, registered bidders or persons intending to register, view, inspect, bid or purchase any personal property, inventory, equipment, lot or item (collectively the “Equipment”) at this auction sale agree that they have read and have full knowledge and understanding of these terms and agree to be bound by these terms. All persons attend this sale at their own risk. Within these Terms of Sale, “Auctioneer” means “Salvadore Auctions & Appraisals, Inc.” including its officers, directors, employees, agents and assigns”. “The Seller” means The Washington Trust Company, including his officers, directors, attorneys, employees, agents and assigns. Equipment means any item(s) offered for bid or for sale. “Purchaser” means bidder, registered person, whether individually, company or business.

1) IDENTIFICATION OF BIDDER: All purchasers are required to give full name and address and shall sign the within terms of sale.

2) DEPOSIT: To qualify to bid, each purchaser or bidder will be required to make a refundable $100 deposit.

3) TIME OF PAYMENT AND SETTLEMENT, BUYERS PREMIUM: All bills and/or invoices due must be paid and received in full in US Dollars by Auctioneer at the conclusion of the auction held on December 5, 2014. Title shall pass after full payment has been received by the Auctioneer or its agent via the usual and customary form of bill of sale. METHOD OF PAYMENT: cash, valid credit card with executed authorization form, known check with proper ID. ALL SALES FINAL REGARDLESS OF MANNER OR METHOD OF PAYMENT. BUYERS PREMIUM: A Eighteen percent (18%) Buyers Premium will be charged and shall apply to all lots sold. A three percent (3%) discount will be allowed for payment in cash or approved check. Successful online will be subject to a additional three percent (3%) buyers premium. SALES TAX: All items are subject to RI Sales Tax unless a copy of your resale certificate or a blanket exemption is received at time of invoicing.  Auctioneer has not taken possession of Equipment being offered at auction and is acting as an agent of the Seller only.

4) CONDITION/REPRESENTATION OF EQUIPMENT SOLD: The Auctioneer and the Seller shall not be responsible for the accuracy or correctness of the description of the Equipment. The Auctioneer and the Seller shall not be responsible for the authenticity of nor defect in any Equipment and make no warranty or representation of any kind whatsoever either expressed or implied in connection with any Equipment being sold or presented for sale. No deductions, allowances, returns, credits, or reimbursements will be allowed for any equipment damaged. All Equipment is sold strictly “AS IS”, “WHERE IS”, “WITH ALL FAULTS” and without recourse. No Equipment sold or presented for sale is warranted as merchantable or fit for any specific or particular purpose or use.  No claims may be made by any purchaser that relate to the fitness, use or condition of any Equipment purchased or for any damages whether consequential or otherwise which arise there from.

5) METHOD OF PAYMENT: All checks, deposits, balances due shall be made payable to the order of Salvadore Auctions & Appraisals, Inc. All bills and invoices must be paid to an authorized representative of the Auctioneer unless other arrangements, terms or procedures are announced. The damage or loss to person and property and release the Auctioneer, Salvadore Auctions & Appraisals, Inc. from any and all liability. The Auctioneer shall not be liable for any defect in or condition of the premises upon which the auction, inspection or move out is held. All persons attending this sale do so at their own risk and hereby release the Auctioneer from any and all claims arising from attendance at this auction and hereby hold harmless the Auctioneer Salvadore Auctions & Appraisals, Inc. from all damages, costs, expenses and claims arising from any action or cause of action arising from this sale.

11) ADDITION TO/WITHDRAWAL FROM SALE, METHOD OF SALE: Auctioneer reserves the right to add or withdraw items, articles or lots from the sale whether listed or not, and reserves the right to group, split, combine or divide lots in to larger or smaller lots wherever the best interest of the Seller is served. The Auctioneer reserves the right to accept or reject, for any reason, any and all bids.

12) DISPUTE BETWEEN BIDDERS: Auctioneer reserves the right to put up for resale or decide winner should a dispute among bidders arise. The Auctioneer’s decision shall be deemed absolute and final.

13) RECORDS/AGENCY: The record kept by the Auctioneer or clerk shall be final in the event of dispute.

14) DEFAULT OF PAYMENT: Should purchaser default on payment for any reason or fail to pay bills in full by the conclusion of the auction on December 5, 2014 and/or by failure to remove the Equipment by December 9, 2014, Auctioneer and the Seller shall be entitled to, and in addition to any and all other remedies under applicable law, retain all monies received as deposit, partial payment or otherwise as liquidated damages. Any Equipment not removed within the fixed time above may be resold at a future sale whether public or private sale without further notice. All expenses, balances due, charges of resale, including reasonable attorneys’ fees and expenses incurred by the Auctioneer will be charges to and be the responsibility of the undersigned. 
15) ADDITIONAL TERMS AND CONDITIONS: Auctioneer may add additional terms and conditions to the sale. Such terms shall take precedence.