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:10 =4M O4 Karlin Daniel & Associates , Inc . & S . Lic, Florida Real Estate Broker • FL# AIB8784U1207 6Ad O ?Wvm ,J 772 . 220 . 2557 • 4285 SW Martin Highway • P. O . Box 1035 , Palm City, Florida 34991 AUCTION AGREEMENT This AUCTION AGREEMENT, made and entered into this day of September , 2009 by and between Indian River County of 1800 27 °i St Vero Beach Florida hereinafter referred to as " SELLER" and KARLIN DANIEL and ASSOCIATES , Inc . Auctioneers , Real Estate Brokers , and Yacht Brokers, hereinafter referred to as "AUCTIONEER" . For good and valuable consideration , the receipt and sufficiency of which is hereby acknowledged, the Seller does hereby give Auctioneer the exclusive right to sell at public auction the following described real and/or personal property , to wit : Surplus vehicles and equipment as per inventory to be supplied by seller and attached to this agreement Auction location : City of Vero Beach Vehicle Maintenance Facility The Seller does hereby retain the professional services of the Auctioneer. The Auctioneer shall charge the buyer and retain the " 10% Buyer ' s Premium" (surcharge added to the bid price of the highest and last bid) from the buyer(s ) as their fee . The fee ( s ) and any costs are to be paid out of the first proceeds received from the auction . This Auction is subject to a 10 % Buyer's Premium (for bid paid); all references herein to highest and last bid shall not include said Buyer's Premium . The Seller hereby agrees to pay the following auction expenses over and above the fee percentage stated above : Advertising $ -0- Survey $ -0- Tent $ -0- Auction Set-up $ -0 - Repairs S -0- Catering $ -0- Other $. -0- The Seller warrants that ( 1 ) it ( is)(are) the sole and legal owner(s) of all the real and/or personal property mentioned in this agreement ; (2 ) the real and/or personal property is free from any and all liens , adverse claims , encumbrances , concealed physical defects and any environmental problems as defined by Federal or State law except as listed in this Paragraph; and ( 3 ) it (has)(have) full authority to sell and to dispose of said property in accordance with this agreement and will give marketable title to said property . No liens exist. It is understood and agreed that none of the property herein listed for sale shall be withdrawn from this agreement nor shall said auction be cancelled except by the express written consent of the Auctioneer. The Auctioneer agrees to provide counsel to the city/county for establishing sale order; advertise said auction as appropriate ; provide registration of bidders ; clerking and cashiering of auction proceeds ; and microphone services to conduct said auction . It is understood and agreed that the Auctioneer by this agreement assumes no liability for the loss by fire, theft, destruction or damage to the property to be sold or to the premises where the sale is to be conducted or for any losses or deficiencies caused by insufficient funds on any checks received for payment for any property sold . The tern-is of the above mentioned sale are in accordance with the City of Port St. Lucie , Contract 1/ 20070156 awarded Karlin Daniel & Associates August 2007 with subsequent renewal and as follows : Buyer(s) shall accept everything on an "AS IS " " Where Is " basin with no warranties expressed or implied ; buyer( s) shall make payment in frill the day of the auction buyer(s) shall remove all items the day of the auction with vehicles and heavy equipment by Monday. November 2 , 2009 % settlement of auction proceeds with the Indian River County to occur on the 10`x' banking day following the auction. Any consigned items remaining at the auction site Tuesday November 3 2009 must be removed by seller. In the event that the terms of this auction require an earnest money deposit , and the purchaser at auction then defaults, the earnest money deposit will be divided equally between the Seller (as damages) and the Auctioneer (as tee). In no event shall the auctioneer receive more than the fee shown above . The Auctioneer shall also receive accrued interest on any escrowed funds . This Agreement is binding upon the parties hereto and their heirs, successors and assigns.