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Karlin Daniel & Associates , Inc . <br /> 50 SE Kindred Street • Suite 1034 <br /> Stuart , Florida 34994 <br /> (772) 220-2557 <br /> FL## AB878-AU1207 <br /> AUCTION AGREEMENT <br /> This AUCTION AGREEMENT , made and entered into this day of April 2009 <br /> by and between_ Indian River County <br /> of 1800 27 `x' St . Vero Beach Florida <br /> hereinafter referred to as " SELLER " and KARLIN DANIEL and ASSOCIATES , Inc . Auctioneers , Real Estate Brokers , and <br /> Yacht Brokers , hereinafter referred to as " AUCTIONEER " . <br /> For good and valuable consideration , the receipt and sufficiency of which is hereby acknowledged , the Seller does <br /> hereby give Auctioneer the exclusive right to sell at public auction the following described real and/or personal property, to <br />wit : <br /> Surplus vehicles and equipment as per inventory to be supplied by seller and attached to this agreement <br /> Auction location . Indian River County Sheriff' s Compound <br /> The Seller does hereby retain the professional services of the Auctioneer. The Auctioneer shall charge the buyer and <br /> retain the " 10 % Buyer ' s Premium " (surcharge added to the bid price of the highest and last bid) from the buyer(s) as <br /> their fee . <br /> The fee (s) and any costs are to be paid out of the first proceeds received from the auction . <br /> This Auction is subject to a 10 % Buyer's Premium (for bid paid) ; all references herein to highest and last bid shall <br /> not <br /> include said Buyer's Premium , <br /> The Seller hereby agrees to pay the following auction expenses over and above the fee percentage stated above : <br /> Advertising $ -0 - Survey $ -0 - Tent $ -0 - Auction Set-up $ -0 - <br /> Repairs $ -0 - Catering $ -0 - Other $ <br /> The Seller warrants that ( 1 ) it (is) (afe) the sole and legal owner(s) of all the real and/or personal property <br /> mentioned in this agreement; (2 ) the real and/or personal property is free from any and all liens , adverse claims , encumbrances <br />, <br /> concealed physical defects and any environmental problems as defined by Federal or State law except as listed in this <br /> paragraph ; and (3 ) it (has) ( e) full authority to sell and to dispose of said property in accordance with this agreement <br /> and <br /> will give marketable title to said property. <br /> No liens exist. <br /> It is understood and agreed that none of the property herein listed for sale shall be withdrawn from this agreement <br /> nor <br /> shall said auction be cancelled except by the express written consent of the Auctioneer . <br /> The Auctioneer agrees to provide counsel to the city/county for establishing sale order; advertise said auction as <br /> appropriate ; provide registration of bidders ; clerking and cashiering of auction proceeds ; and microphone services to conduct <br /> said auction . It is understood and agreed that the Auctioneer by this agreement assumes no liability for the loss by fire , <br /> theft, <br /> destruction or damage to the property to be sold or to the premises where the sale is to be conducted or for any <br />losses or <br /> deficiencies caused by insufficient funds on any checks received for payment for any property sold . <br /> The terms of the above mentioned sale are in accordance with the City of Port St. Lucie, Contract # 20070156 awarded Karlin Daniel <br /> & Associates August 2007 and as follows : Buyer(s) shall accept everything on an "AS IS " "Where Is " basis with no warranties <br /> expressed or implied • buyer(s) shall make payment in full the day of the auction ; buyer(s) shall remove all items the daof <br /> the auction with vehicles and heavy equipment by May 11 2009 • settlement of auction proceeds with the Indian River <br /> County to occur on the 10 °' banking day following the auction Any consigned items remaining at the auction site Tuesday <br /> May 12 , 2009 must be removed by seller, <br /> In the event that the terms of this auction require an earnest money deposit, and the purchaser at auction then defaults , <br /> the earnest money deposit will be divided equally between the Seller (as damages) and the Auctioneer (as fee) . In no event <br /> shall <br /> the auctioneer receive more than the fee shown above . The Auctioneer shall also receive accrued interest on any escrowed <br /> funds . <br /> This Agreement is binding upon the parties hereto and their heirs , successors and assigns . <br />