I, the undersigned, agree to the following terms and conditions, should I be the high bidder.
1. Auction Day Requirements: I hereby agree to sign the contract of sale immediately upon the conclusion of bidding. The full amount of the contract price is required on Auction Day. All bidders must be pre-registered and are required to have a bank/cashier's check in the amount of $5,000 made payable to yourself and endorsed to escrow holder after completion of auction. A second bank/cashier’s check, is required for the balance of the contract price. The Bidder will be permitted to go to the bank and obtain the second bank/cashier’s check as long as they return by the end of business day. NO EXCEPTIONS PLEASE!
2. I have read the terms of this sale posted on the premises, printed on the sale brochures and said terms are incorporated herein by reference, as are any public announcements made sale day.
3. I agree to review the Property Information Packet prior to attending Auction.
4. A Buyer’s Premium of 10% of the Bid Price will be added to the bid price and become the Final Contract Price. The successful high bidder will be required to enter into a developer’s agreement with the City within 45 days of the sale to rehabilitate or otherwise reuse the property consistent with the municipality’s plans and regulations.
5. If any check given in payment is not honored for any reason, I agree, whether said check be signed by me as maker or endorser, that if such check is placed in the hands of any attorney for collection, to pay all reasonable attorney’s fees, together with all costs of suit in the event is instituted.