2863 Highway 27 East Lincolnton, NC 28092
Phone(704) 735 1977 ~ Fax (704) 732-4848
Contract ForExclusive Right To Sell Personal Property at Public Auction
______
This agreement entered into this24th day of April, 2008, by and between George Jones (SELLER) and United Country Gates Real Estate And Auction, hereinafter referred to as “Auctioneer”. For valuable consideration, Seller hereby grants unto Auctioneerthe exclusive right to sell and hereby employs Auctioneer to sell at public auctionWITHOUT RESERVE properties described on attached Exhibit “A”. The terms “with reserve” and “without reserve” being as defined in N.C. General Statutes Section 25-2-328. It is agreed that by this document seller has conveyed to Auctioneer an irrevocable offer to enter into this contract. Upon acceptance, and at the expense of the Seller, Auctioneer shall have the right and option to post all materials promoting sale on properties described in Exhibit “A” or upon Seller’s properties, including but not limited to the Auction Site as described below.
It is understood that auction will be conducted on the property owned by George Jones and located at 123 Main Street, Town of Shelby, State of North Carolina on the 24th day of May, 2008 at 10AM, and at the time and place of such sale Auctioneer shall have the right, at his sole discretion, to accept for sale other consigned items. All consigned items shall be advertised at no expense to Seller and no commissions due Auctioneer by Seller shall be diminished by any commissions received on consigned items unless otherwise shown on Exhibit "A". Auctioneer shall have custodial rights to the site of the auction for the purpose of evicting and arresting. Seller agrees to deliver listed property to sale site 30days prior to sale. Should Seller fail to deliver property to be sold at the sale site on or before the above date, Seller agrees for Auctioneer to have the property delivered to the sale site at Seller's Expense and deduct said amounts from Seller's net proceeds.
Reserve or “minimum acceptable prices” must be communicated to Auctioneer and documented on Exhibit "A" at the time of execution of this Agreement. Upon such minimum bid being received, Seller agrees to execute all necessary documents to transfer title. In all events upon Seller's failure or refusal to execute documents of conveyance, Seller will pay Auctioneer full commission, whether due from Seller or Buyer, as if such conveyance had occurred. In the event that none of the bids equals or exceeds the reserve price, Seller agrees to pay a "No Sale" fee of0dollars on each item not sold. SELLER FURTHER AGREES THAT SELLER WILL PAY FULL COMMISSION ON ANY PARCEL AND/OR ITEM SOLD REGARDLESS OF WHETHER THE HIGH BID IS PLACED BY OR ON BEHALF OF SELLER.
AGREEMENT BETWEEN SELLER and AUCTIONEER:
Seller agrees as follows:
- To pay full commission on any item sold.
- To prepare an accurate description of the property to be sold.
- To inform Auctioneer of any encumbrances on the property being sold.
- To obtain release from any and all encumbrances on the property being sold.
- Seller gives Auctioneer authority to pay from Seller's Funds any and all creditors, holding liens on property.
- To be present at the time and place of sale and assist Auctioneer as needed in the sale of property.
- To make known to Auctioneer or any prospective purchasers any latent or patent defects in property sold.
- Seller further agrees not to sell or encumber any property contracted to be sold by Auctioneer.
- To execute all titles, bills of sale, or other instruments conveying title to the highest bidder.
- To indemnify Auctioneer from any cost, loss or expense -- including a reasonable attorney's fee – resulting from Sellers failure to comply with any of the foregoing agreements.
- To acknowledge that, for the purposes of carrying out the terms of this agreement,Auctioneer is the agent of the Seller.
- To pay SELLERS COSTS, which, in addition to commissions, will bean advertising budget not to exceed $1,000.
2. Auctioneer agrees as follows,
(a)To prepare advertisements of the property for sale, schedule public auctions at appropriate times, provide experienced and qualified personnel for the sale and documenting of all records of such sale, and to comply with all provisions of law in obtaining the highest sales price all at the expense of the auctioneer.
3. It is mutually agreed between Auctioneer and Seller as follows:
(a) This Agreement begins on the day of execution and ends on the 25th day of May, 2008. Seller agrees to pay to Auctioneer a commission of ZERO percent (0%) of the highest bid obtained on property to be sold. If any property is sold during the term of this Agreement, Auctioneer shall receive its full sales commission, whether payable by BUYER OR SELLER on such portion sold. It is further agreed that Auctioneer may charge an additional "Buyer's Premium" of Ten percent (0%)of the high bid received from the Buyer in addition to the commission charged to the Seller. The Buyer’s Premium shall be retained by the auctioneer in full.
(b) All sales by Auctioneer shall be final sales and upon the payment of purchase price by purchaser, Seller shall convey to such purchaser by Title or Bill of Sale. Further, Seller agrees to pay the expenses of conveyance in obtaining marketable title to any property being sold. All payment for sales shall be made to Auctioneer and held by the Auctioneer in his escrow account WITHOUT INTERESTuntil distributed. After payment of commission to Auctioneer, Auctioneer agrees to pay from Seller's remaining sums all liens known to Auctioneer so long as sufficient funds exist. All payments of net proceeds to Seller will be paid not less than _10_days nor more than _30_ days after clearance of all checks, money orders, or other evidences of cash. Any deposit money retained as liquidated damages by reason of the purchaser failing to make settlement shall be divided equally between Auctioneer and Seller.
The sum paid to Auctioneer shall not be in excess of the commission due per sale. It is further agreed that Auctioneer is an agent of the Seller and NOT guarantor of any checks received on behalf ofsellers goods nor will auctioneer be responsible for obtaining funds from checking account with non sufficient funds. It is the sole responsibility of the seller to take whatever actions necessary to obtain funds from sale of good from individuals or companies purchasing such items with bad checks. The auctioneer’s commission will be paid in full on all items sold regardless of seller’s deficiency of funds from bad checks.
SEVERABILITY/JURISDICTION/MERGER - Both parties agree that if any portion of this agreement is declared void or unenforceable for any reason then each and every remaining portion shall remain in full force and effect. In all matters of jurisdiction and applicability of laws, the parties agree that the jurisdiction for any action related to this agreement is North Carolina, and the parties agree that this written agreement represents the culmination of their agreements and supersedes any verbal agreements or representations made by or to either of the parties by the other or any agent of them.
INDEMNIFICATION BY SELLER: SELLER AGREES TO DEFEND, INDEMNIFY, AND HOLD AUCTIONEER HARMLESS FROM ANY ACTION, CIVIL OR CRIMINAL, DERIVING FROM THE SALE OF THE ITEMS SUBJECT OF THIS AGREEMENT INCLUDING CLAIMS CONCERNING HAZARDOUS WASTE.
SELLER FURTHERAGREES THAT ALL EXPENSES INCLUDING ATTORNEYS AND OTHER LEGAL AND INVESTIGATIVE FEES INCURRED BY AUCTIONEER ARISING FROM ANY ACTION CONCERNING THIS CONTRACT, OTHER THAN THOSE ARISING FROM AUCTIONEER’S WILLFUL ACTS, INCOMPETENCE OR NEGLECT, SHALL BE BORN BY AND REIMBURSED FROM SELLER. SELLER DOES FURTHER AGREE BY THE EXECUTION OF THIS AGREEMENT, TO SAVE AND HOLD AUCTIONEER HARMLESS FROM ANY AND ALL CLAIMS, ACTIONS, CAUSES OF ACTION, DEMANDS, RIGHTS, DAMAGES, LOSSES OR COSTS INCLUDING REASONABLE ATTORNEYS FEES FROM OR WITH RESPECT TO THE SELLER’S INABILITY TO TRANSFER GOOD AND MARKETABLE TITLE TO THE PROPERTY , OR THAT RESULT OR OCCUR BECAUSE OF ANY CLAIMS, LIENS DEFAULTS, DEFECTS OR ENCUMBRANCES UPON SUCH PROPERTY OR BECAUSE OF THE BREACH OF ANY WARRANTY OR REPRESENTATION MADE BY SELLER AS TO THE CHARACTER OR CONDITION OF THE PROPERTY AT THE TIME OF EXECUTION OF THIS AGREEMENT, TIME OF SALE, OR OTHERWISE.. THE VENUE FOR ANY AND ALL PROCEEDINGS ARISING FOR THE RESOLUTION OF DISPUTES AND DISAGREEMENTS BETWEEN AUCTIONEER AND SELLER SHALL BELINCOLN COUNTY, NORTH CAROLINA. I have read and understand and hereby acknowledge receipt of a copy of this Exclusive Right to Sell Agreement. This the day and year first above written.
______(SEAL)
SELLERS / WITNESSADDRESS/PHONE
______(SEAL)
AUCTIONEERPHONE
2863 Hwy. 27 East Lincolnton, NC 28092
Phone (704) 735 1977 ~ Fax (704) 732-4848
______
Contract For Exclusive Right To Sell Personal Property - Exhibit “A”
Reserve Price / Number / Description of Property To Be Sold EXHIBIT “A”0 / Entire Contents of 123 Main Street, Shelby, NC28152