AUCTIONS PLUS INC. 1-2005 - Laserfiche WebLink

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2) All Sales Shall Be For Cash and the purchase price shall be paid forthwith upon the sale being declared by the Auctioneer. 3) Auctioneer shall sell City surplus property to the highest bidder unless otherwise previously agreed upon by the City and Auctioneer in writing executed by the Executive Director of Finance and the City Attorney. 4) Auctioneer shall at its own expense provide for all advertising. 5) Auctioneer shall furnish and provide at its own expense such clerks and assistance necessary for the proper conduct of the sales. 6) As soon as reasonably possible after the completion of the sale, Auctioneer will make full settlement with the City less Auctioneer' commission in accordance with this Agreement. 7) City shall execute and deliver any and all bills of sale or other documents which may be necessary to evidence transfer of ownership of any surplus item or items or otherwise to effectuate the terms of this Agreement. 8) Auctioneer will announce at the sale that all surplus items are being sold as is and without any warranty, expressed or implied, of merchantability or otherwise except as to title and the accuracy of the description in the public auction. 9) Auctioneer agrees to receive any and all surplus items regardless of condition. 10) Auctioneer will to respond to a request for pick -up of surplus personal property within 24 hours to schedule a time and place for pickup of said property. 11) Auctioneer agrees to work with the City to set a minimum bid on any all property subject to this agreement. 12) If minimum bid is not met after (2) auctions. Auctioneer agrees to contact the City to determine whether to continue with said minimum bid or to reduce the minimum BID amount. Any determination to reduce the minimum bid amounts shall be evidenced by a writing signed by the City and Auctioneer. 13) Auctions Plus will not charge the City a fee or commission for auctioneer services. 2. COMPENSATION a. City agrees to pay, and Auctioneer agrees to accept as total payment for its services, a sum equal to ten percent (10 %) of the sale price of vehicles and equipment sold and fifteen percent (15 %) of the sale price for miscellaneous surplus property. City shall at its discretion determine whether any property subject to this agreement is considered vehicles and equipment or miscellaneous property. Said determination will be made before the items are transferred to Auctioneer. Said percentage shall be retained by Auctioneer from the proceeds of sale, with the