TERMS & CONDITIONS OF SALE

COURT ORDERED AUCTION

1. BIDDER REGISTRATION:

• The auction is open to the public and all bidders will be required to register with the auctioneer. Bidder Registration will be available starting at 9:00 A.M. on Auction Day.

2. PREVIEWS:

• The vehicles offered at this auction will be available for previews beginning at 9:00 A.M. until the time the event begins. Vehicles included in the auction cannot be driven during previews.
• Vehicles will be opened during preview and started before the sale of each. Keys to individual vehicles will not be given during preview because of insurance requirements.
• All vehicles are being offered and sold in As-Is condition without warranty of any kind.
• The Trustees, Assignees and Auctioneer make no warranty or guarantee concerning the condition of any of the vehicles included in this auction. Information provided on the Auctioneer’s Website is correct to the best of our information and knowledge. Personal preview of the vehicles is suggested.
• For the convenience of prospective bidders, a copy of CarFax Reports are included. These reports were ordered by National Auction Company and information included is that available from CarFax. This information is not guaranteed and does not go beyond that provided by CarFax.

3. AUCTION SITE:

• The auction will be conducted at 11:00 A.M. on Saturday, May 13, 2023 at 1900 SW 100 Avenue, Miramar, Florida 33025.

4. DEPOSITS & FINAL PAYMENT:

• Payment in full is expected at the conclusion of the auction by Cash, Cashier's Checks or Money Orders. Corporate checks will be accepted only when accompanied by a current Bank Letter made specifically for this auction and addressed to National Auction Company guaranteeing payment and subject to verification at the time of Bidder's registration.
• Bidders who leave the auction site without paying in full may be required to make a deposit in the minimum amount of 25% of the full purchase price and advise auction staff when they are returning with the balance due. If no deposit is made, the Auctioneer has the option of reselling any vehicle sold during the auction.
• Please be advised credit cards, debit cards or other forms of payment including Zelle will not be accepted at this auction.
• Final payments can be sent to the Auctioneer’s Escrow Account by wire transfer. Wire instructions are available upon request.
• Any balances that are due must be paid no later than Monday, May 15, 2023 by 12:00 P.M. Final payment (s) must be in the form of Cash, Cashier's Check or Money Order only.

5. FLORIDA SALES TAX:

• All sales are subject to rules of the Florida Department of Revenue.
• Florida dealers who register as bidders should provide a copy of their Motor Vehicle Dealer’s License and Resale Certificate which must be presented at the time of Bidder registration.
• Florida Sales Tax required for motor vehicles is payable at the time of vehicle registration when the Motor Vehicle Title is transferred.
• Bidders with Resale Certificates must provide a copy of their 2023 Certificate at the time of registration for the auction.

6. FORM of AUCTION:

• This auction is conducted pursuant to the Order of the United States Bankruptcy Court, Southern District of Florida on behalf of Chapter 7 Trustees, Sonya S. Slott, Robert Furr and Leslie Osborne.
• This auction is conducted pursuant to Court Order, Circuit Court, Broward County on behalf of Leslie S. Osborne, Assignee.
• It is expected the Trustees, Assignee or their Representative will attend the auction in person or by Cell Phone. Confirmation of top bid prices is expected following conclusion of the event.

7. BUYER'S PREMIUM:

• A 10% Buyer's Premium will be added to all top bids and included in the total purchase price.
• The following examples are provided for your information:
  Bid Price: $5,000.00 Buyer’s Premium: $500.00 Total Price: $5,500.00
  Bid Price: $7,500.00 Buyer’s Premium: $750.00 Total Price: $8,250.00

8. METHOD of SALE

• The method and order of sale will be at the auctioneer's discretion.
• Determination and recognition of bid increments will be at the discretion of the Auctioneer.
• In the event items are offered at the auction and bids are not received, the Auctioneer may remove them from the order of sale and offer them at a later time or await specific instructions from the Bankruptcy Trustee, Court-Appointed Assignee or their Representative..
• The Trustees, Assignee and Auctioneer reserve the right to add or delete any item(s) from the auction. All top bid prices are subject to confirmation of each Trustee and/or Assignee.
• The terms and conditions of sale may be changed by announcement from the auction podium in the event such is necessitated by an Order of the United States Bankruptcy Court or the Circuit Court of Broward County. In the event changes are made, they will take priority over previously printed materials or oral statements made.
• Bids will only be accepted from bidders who have registered with the Auctioneer.
• In the event disputes arise between any of the bidders or there are tie bids, the Auctioneer's decision will be final.
• The Auctioneer reserves the right to ask for additional deposits from any bidder during the course of the auction. In the event a deposit is requested and not given, vehicles previously sold may be subject to resales at the option of the Trustees, Assignee or Auctioneer.
• All information contained in Auction Flyers, Post Cards, web site, CarFax Reports or furnished by staff members is believed to be correct but is not guaranteed. Bidders must rely upon their own information, judgement and inspection of the vehicles offered.
• The auction will be electronically recorded to provide a record of the event. The recording is the property of National Auction Company, Bankruptcy Trustees and Court-Appointed Assignee named in this document.
• Purchasers are not permitted to resell vehicles purchased during the auction to third parties or reassign auction clerking tickets to other bidders.
• In the event a Top Bidder fails to make final payment, any deposit given will be subject to forfeiture.
• Vehicles cannot be removed from the auction site until the entire auction has been completed.

9. CERTIFICATES OF TITLE

• Certificates of Title are available for some of the vehicles included in this auction and will be delivered to Purchasers upon confirmation of the top bid prices by the Bankruptcy Trustees or Court-Appointed Assignee and receipt of payment in full.
• Some of the vehicles included in this auction are subject to valid lender liens that have been verified by the Bankruptcy Trustees. Following confirmation of the top bid prices by the Trustees, lender liens will be repaid in full. Based upon past experience, Certificates of Title should be available within 30-60 days of the auction event.
• The title to most of the vehicles being offered on behalf of the Court-Appointed Assignee are available and will be delivered to the purchaser upon final payment.
• Open titles will not be delivered to any Purchaser.

10. REMOVAL:

• All purchases must be removed from the premises as soon as possible. Arrangements for removal of vehicles must be scheduled through George Richards of National Auction Company.
• Purchases can be removed on auction day after payment in full has been made until 5:00 P.M.
• All vehicles must be removed no later than Monday, May 15, 2023 by 12:00 P.M.
• Purchasers must advise National Auction Company who is authorized to remove vehicles or other items from the storage lot. Vehicles being removed from the auction site by contracted transporters or tow trucks must have written authorization, signed by the purchaser and accompanied by a copy of the paid receipt.

11. DIRECTIONS:

• From I-95 (Broward County)
  Exit at Pembroke Road and continue west to Palm Avenue. Make U-Turn and continue to SW 100 Avenue. Turn right on SW 100 Avenue and continue to auction site.
• From Florida Turnpike
  Exit at Hollywood Boulevard (Pines Boulevard) and continue west to Palm Avenue. Turn left and continue to Pembroke Road. At SW 100 Avenue turn right and continue to auction site.

12. AUCTIONEER CONTACT INFORMATION:

• If additional details are needed please contact George Richards at (954) 658-5033 (cell) or grichards@natlauction.com (E-mail).