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Auction Highlights:
SEALED BID SALE OF CERTAIN INTELLECTUAL PROPERTY Including "IMPAC" Lift System product line, and related Finished Goods, W.I.P., spare parts and raw material inventory to be offered for sale subject to owner confirmation. Auction of Real Property, building and land, to be offered for sale subject to owner confirmation, and On-site/On-line piecemeal auction sale of the remaining tangible personal property, material handling equip., etc.
SEALED BID OPENING: 9:00 A.M.
EQUIPMENT AUCTION: 10:00 A.M.
Inspection:
SEE REQUIRED BIDDER'S PACKET FOR SEALED BID SALE INSPECTION INFORMATION.
The piecemeal auction inspection will be Wednesday, September 28th from 9:00 a.m. to 4:00 p.m. and the morning of the sale.
Directions:
FROM THE VALLEY INTERNATIONAL AIRPORT IN HARLINGEN: Exit airport via Hackberry Street and proceed to Iwa Jima Blvd. Turn right on Iwa Jima Blvd. and proceed to N 25th Street/FM 507. Turn right on N 25th Street and proceed north to Rio Hondo Road. Turn right on Rio Hondo and proceed to General Brant Road. Turn left (east) on General Brant and proceed to FM 1847. Turn right (south) on FM 1847 and proceed to FM 510/San Jose Road. Turn left (east) onto FM 510 and proceed to auctio n site on your right, 41786 FM 510, Los Fresnos, TX 78566. Watch for auction signs. Total trip distance is 29.6 miles.
Terms & Conditions:
PLEASE SEE REQUIRED BIDDER'S PACKET FOR TERMS AND CONDITIONS OF THE SEALED BID SALE.
A 15% Buyer's Premium will apply on-site. An 18% Buyer's Premium will apply via webcast.
A 100% refundable $3000 (US) or $10,000 (Foreign) deposit may be required for webcast bidding for the auction.
Everything will be sold to the highest bidder or bidders for cash in accordance with the auctioneer's Customary Terms of Sale, copies of which will be posted on the premises.
ALL PAYMENTS MUST BE MADE BY CASH, CASHIER'S CHECK, WIRE TRANSFER OR COMPANY CHECK WITH BANK LETTER GUARANTEEING PAYMENT TO PLANT & MACHINERY, INC.
Here is an example of what your letter should be: Mr. "Customer Name" is a customer of this bank. This bank will guarantee unqualified payment to PMI on the account listed herein up to the amount of $________. This letter is good until _________.
In default of payment of bills in full within the time therein specified, the Auctioneer in addition to all other remedies allowed by law, may retain all monies received as deposit or otherwise, as liquidated damages. All items must be removed by the time announced at the start of the sale.
Lots not paid for and/or removed within the time allowed may be resold at public or private sale without further notice, and any deficiency, together with all expenses and charge of resale, will be charged to the defaulting purchaser.
The buyer acknowledges that he or an agent has inspected all of the assets upon which he will be bidding and/or does purchase.
Buyer agrees to accept assets purchased "AS IS,""WITH ALL FAULTS" and "WITH REMOVAL AT BUYER'S RISK AND EXPENSE."
THE AUCTIONEER EXPRESSLY DISCLAIMS ON THE PART OF THE AUCTIONEER AS AGENT AND THE SELLER, ANY WARRANTY AS TO FITNESS OR USABILITY OF ALL THE ASSETS, AND THE BUYER EXPRESSLY WAIVES ANY CLAIM IN RESPECT TO ANY POSSIBLE FUTURE USE OF ANY ASSET PURCHASED FOR ANY PURPOSE WHATSOEVER.
The buyer does hereby assume and does agree to indemnify and hold the auctioneer harmless from any future claim which shall pertain to the fitness or use of that asset as being purchased. Riggers, movers, electricians and buyers performing work at the Auction Site must provide PMI with evidence of insurance. The insurance coverage must be at a level acceptable to PMI and to the seller. PMI reserves the right to withdraw items, alter the order of the sale, accept bids from the seller, and group lots as it may deem appropriate.
Although all information has been obtained from sources deemed reliable, the auctioneer and seller make no warranty or guarantee, expressed or implied, as to the accuracy of the information herein contained, or contained in our catalog. It is for this reason that buyers should avail themselves of the opportunity to make inspection prior to the auction. Although it is not likely, auction sales are subject to cancellation or postponement. Kindly contact auctioneer prior to attendance.
These terms and conditions may be modified or supplemented by language in the catalog available at the sale site or by announcement at the start of the sale. Bidders should be attentive to those announcements and to the catalog language.
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