General Terms

EVERYTHING SELLS AS IS – NO WARRANTIES EXPRESSED OR IMPLIED:

All equipment is sold “AS IS”, “WHERE IS” with no warranties or guarantees, expressed or implied by the Seller and Burton W. Wiand, Receiver (“Receivership-Auctions”). All sales are final.

There shall be no returns, exchanges, or refunds for any reason. All property is sold “as-is”. It is the bidder’s responsibility to determine the nature, condition, and state of each item or property bid on or purchased.

Receivership-Auctions

Receivership-Auctions is a trade name used by Burton W. Wiand, Receiver to conduct online and live auctions of property for Receivership Estates. Receivership-Auctions.com is a website used to conduct these auctions. The auctions are judicial sales conducted pursuant to Order of the United States District Court for the Middle District of Florida. Orders authorizing auctions are contained on that website. See www.EquialtReceivership.com.

Disclaimer of warranties

There are no understandings, agreements, representations, or warranties, express or implied not specified herein, respecting this contract or the item or property sold hereunder, including but not limited to the merchantability or fitness for a particular purpose. Information about the property being sold is provided from records acquired by Seller that is a Receiver who acquired the property pursuant to Court Order. Purchasers must review public records regarding the properties being sold. The Receiver has no personal knowledge of the property and while the information provided is believed to be reliable all buyers must rely solely on their examination of the property and its condition.

Inspections

It is the responsibility of the buyer to conduct their own inspection. No testing or operational assessments have been made by Receivership-Auctions. Contact Receivership-Auctions prior to bidding with any questions regarding any item or property. Inspection of vehicles may be made by appointment. Inspections of properties may be arranged by contacting employees of EquiAlt LLC, Tony Kelly, Alex Ellis or Sam Wiand. All known material facts conveyed to Receivership-Auctions have been disclosed. The buyer is accepting the property “as-is”.

Internet Bidding

This is a live online Auction, All bids will be entered online. The highest bid online when the bidding closes will be the winning bid for the item unless a bid is accepted prior to the expiration of the auction. By placing a bid, you agree to all of the terms and conditions which may be set forth by Receivership-Auctions (Burton W. Wiand, Receiver) and expressly acknowledge and affirm that you have read and are familiar with all terms and conditions including these General Terms and the Participation Terms. Bidding will be controlled by Receivership-Auctions. Be prepared to bid accordingly. No bidding by the sellers will be allowed for absolute auctions or after a Reserve is met. All sales are final as is the determination of the winning bidder by Receivership-Auctions.

Auctioneer’s Discretion

The content displayed on the Receivership-Auctions website may contain inaccuracies and typographical errors and we do not warrant the accuracy or completeness of the content or that any defects will be corrected. Any reliance on any such content, advice, statement, or other information shall be at your sole risk. We reserve the right, in our sole discretion, to correct any errors or omissions in any portion of the online bidding service and to make any changes to the features, functionality, or content at any time.

Choice of Law, Venue & Jurisdiction of Disputes

The law of the state of Florida shall govern the interpretation of any and all disputes or other matters relating to the subject sale and/or stemming from the auction sales. Bidder acknowledges that no relationship of any nature or type, agent, employee, independent contractor, or otherwise, is created between bidder and Burton W. Wiand Receiver. Any dispute shall be resolved before the SEC v. EquiAlt Receivership Court (The United States District Court for the Middle District of Florida) in summary proceedings without a jury. Prevailing parties shall be entitled to their cost and attorney’s fees.

Auction Software

Receivership-Auctions will not be held liable for any software or software malfunction discrepancies.

Bidding Closure

Auctions will be conducted online and on occasion live and will terminate with respect to each property when the Receivership-Auctions accepts a bid, an event that can occur at anytime during an auction.

Register

All bidders must register and be in good standing with Burton W. Wiand-Receiver in order to bid on items listed on the online auctions. Bidders must satisfy financial qualifications as required by Receivership-Auctions and receive approval prior to being allowed to bid. Burton W. Wiand-Receiver reserves the right to remove a bidder for any reason. Registration for each auction will be subject to a charge of a $10 dollar administration fee that will be collected on line through payment by credit card.

Photos

Please consider the photos as only part of the buying process and not the definitive authority. Photos may or may not depict all the positives or negatives of an item. These photos and descriptions are to be used as guidelines only. All bidders are responsible for their own personal inspection of the item(s).

Odometer/Mileage/Hours

Odometer, Mileage & Hour Meter are assumed to be correct. However, these assumptions do not constitute a guarantee. It is up to the BUYER to validate the accuracy of the reading during the inspection process. Receivership-Auctions is not liable for any inaccuracies pertaining to the odometer, mileage, or hour meter readings. Receivership-Auctions has no knowledge of the history of these vehicles except as provided in the documentation made available.

Reserve

Burton W. Wiand Receiver (Receivership-Auctions) has the ability to protect its merchandise with a minimum selling price. Reserve prices are designed to protect the owner of an auctioned item from an unfavorable outcome. Receivership-Auctions may withdraw any lot, item or property from the auction and all lots are subject to prior sale. Consigners have the right to bid until the reserve price is met. Consigners are not authorized to bid beyond the agreed reserve. Consignors may not bid on their lots in an absolute auction. Some Lots may have minimum bids, a minimum bid is not a Reserve.

Auction details page

The auction details page and Participation Terms contains the auction specific terms, location details, and category list for the auction. The auction details page can be assessed by clicking on each lot. Please review the attached contractual documents.

First bid notice

By placing a bid in an auction, you will be agreeing to the auction terms and conditions as contained herein and specified elsewhere on the Recievership-Auctions.com website. Registration for an auction shall constitute written agreement to the terms of the auctions and all Real Estate contracts that are a part of the auction.

Buyers Premium

A Buyer’s Premium shall be added to all winning bids resulting in a total purchase price exclusive of any applicable taxes. Buyers Premiums on Real state transaction shall be 5% of winning bid price and shall be added to the total contract price. 2% of the 5% buyers premium may be paid to Licensed Real Brokers who represent bidders in an auction purchase. Bidders/Buyers brokers must be disclosed in bidder Registration, Bidders must make all bids and Buyers Brokers are not authorized to bid on their behalf. Should a bidder allow a buyers broker to make bids on their behalf the bidder is bound by such bids. All bids made under a bidders registration number are binding.

Taxes

In order to comply with state and local sales tax requirements, it is necessary that we have in our files a properly executed exemption certificate from all of our customers who claim sales tax exemption. Buyers are responsible for all sales and transfer taxes.

Receivership-Auctions will NOT release equipment until we receive any necessary and properly executed tax exemption form or until required taxes, if any, are paid (Buyers Responsibility). We need the sales tax form from the state in which the equipment was sold, not from the state in which you are located. Guidelines and regulations regarding tax exemptions may vary between states. Receivership-Auctions does not provide any legal or tax advice. Please consult your advisors.

All taxes relating to real estate transactions will be dealt with at closing specifically according to the applicable Purchase and Sale agreement.

Invoicing

An invoice with payment instructions will be sent to each successful buyer’s registered email at the close of bidding. If you do not receive an invoice via your email within 24 hours after the close of the auction, please contact us at 727-235-6769 immediately.

Bidder’s Payment

Payment instructions will also be included on your invoice. Successful bidders on non-real estate items must contact Receivership-Auctions within 24 hours after receiving their invoice to confirm their method of payment.

Payments must be received within 48 hours after the conclusion of the auction absent written extension from Burton W. Wiand Receiver.
Any payment received between 7 to 14 days after the conclusion of the auction, the buyer will be assessed a 2% fee on the invoice total.
If payment is not received within 14 days after the conclusion of the auction, the buyer will lose all rights, title, and interest to the property, including any and all moneys. Buyer shall remain responsible for any damages or expenses incurred by Burton W. Wiand, Receiver as a result of any buyer default.
All transactions must be paid by wire transfer.
NO equipment will be released until payment is made in full. Burton W. Wiand Receiver will after payment clear all encumbrances on the vehicles and deliver title promptly to the Buyer.
All funds wired to Burton W. Wiand Receiver will be held in a trust account with Burton W Wiand, PA, and used to satisfy any incumbrances on the items sold. No funds shall be released to the Burton W. Wiand Receiver until all encumbrances and liens are satisfied and the item and or title thereto is delivered to the buyer.

For real estate transactions, 10% of the total purchase price must be wired to the Trust Account of Burton W. Wiand PA within 24 hours of the acceptance of a winning bid. The remainder of the purchase price shall be wired to the closing agent. The wiring instruction for the closing agent will be included with the Sales Procedures Agreement for each real property. Failure to timely wire funds as required will allow the Receiver or Receivership-Auctions.com to void a transaction but shall not impact the obligation of a successful bidder for damages or specific performance if the Receiver so chooses.

Payment Procedures

Payments for real estate transactions shall be wired as described above.

Payments for non-real estate items will be made directly to Burton W. Wiand-Receiver. They will be deposited into the trust account of Burton W. Wiand, PA, and disbursed to satisfy liens and distribute funds to the Receiver upon delivery of property to Buyers. All payments for purchased items shall be made by wire transfer.

Wire Instructions:

ABA Routing Number: 062006505

Beneficiary Bank: ServisFirst Bank

Address: 2500 Woodcrest Place

City: Birmingham, AL 35209

Beneficiary Account #: 500120XXXX

Beneficiary Name: Burton W. Wiand PA Special Trust Account

Further Information: Lon=t No;

Credit card

Credit Cards may be used for the payment at the time of Registration for administrative processing fees. Payments by credit card may only be used for such fees. Auction items may only be paid for by wire transfer.

Titles for Vehicles

There will be a $100 title processing fee applied to all items requiring a Department of Motor Vehicles tag. Buyers will be contacted via email the day of the auction in regard to titling information. The Receiver will require title information including name(s) and complete address via email. The title will be mailed to the buyer via certified mail as soon as possible after receipt of payment, regardless of payment type.

**ALL TITLES WILL BE ENDORSED, UNDER NO CIRCUMSTANCES WILL ANY OPEN TITLES BE ISSUED**

Removal of Items

All items shall be removed from 2101 W. Cypress, Tampa, FL subsequent an auction at the buyer's sole expense and risk. Items shall be removed within 72 hours of notification to the buyer by Burton W. Wiand Receiver that the item is available for removal. Should any item not be removed within that time period storage fees shall apply. Any extension of these deadlines shall be in writing signed by Burton W. Wiand Receiver.

Closing of Real Estate Transactions

The closing of each sale of real property shall occur according to the terms of the Sales Procedures Agreement that is included on the website with each lot.

Participation Terms

These Participation Terms (“Terms”) apply to each auction of Real Property and marketing or transaction event relating to Real Property (each, an “Event”) conducted by Receivership-Auctions.com (Burton W. Wiand Receiver) on behalf of a seller (each, a “Seller”) of real property (each, a “Property”, and collectively, “Properties”). As used in these Terms, each prospective buyer who participates in any Event is a “Participant”. As used in these Terms, the terms “Receivership-Auctions.com”, “Seller” and “Participant” shall also refer to the respective principals, agents, and affiliates of each. They are in addition to the General terms of Receivership-Auctions.com and other procedures provided on the website. “Winning Buyer” is the Participant that (a) submits the highest net bid in an auction Event and is acknowledged by Receivership-Auctions.com by email or telephone as the winning bidder, or (b) submits any offer during any Event that is accepted by Seller. As used in these Terms, each bid or offer submitted in any Event is an “Offer”. The Seller of the properties sold in this auction is Burton W. Wiand, Receiver or an entity for which Mr. Wiand is Receiver.

Receivership-Auctions.com conducts Events solely on behalf of the Receiver (Burton W. Wiand) and is not acting as an agent for any Participant in any capacity. By registering for an Event or submitting an Offer at www.Receivership-Auctions.com, Participant acknowledges having read and accepted these Terms. By submitting an Offer on a Property, Participant is deemed to have accepted any additional terms and conditions posted on the Receivership-Auctions.com website at the time an Offer is submitted, and such terms and conditions shall govern and control over these Terms to the extent of any conflict.

1. ACCOUNT CREATION AND REGISTRATION PROCESS

Upon registering for an Event, Participants are required to place a deposit to secure compliance with these Terms (“Service Fee”). The amount of the Service Fee and acceptable payment methods will be shown during registration. At request of the Receiver, Receivership-Auctions.com may modify, waive, or impose additional participation requirements for certain Properties or Participants in its sole and absolute discretion or at the request of the Receiver.

2. DUE DILIGENCE

Purchase Documents. Prior to submitting an Offer, Participants must review the Sales Procedures Agreement (“SPA”), any applicable addenda, Seller’s disclosure documentation, and all other transaction documents and terms (collectively, “Purchase Documents”), on the Property Page. All Offers must be based on the posted Purchase Documents. Unless otherwise specified on the Property Page, the Purchase Documents are non-negotiable. A SPA is posted with each property. Successful bidders agree to the terms of the agreement by entering bids and the property sale will be closed under the terms of that agreement. Each Participant agrees that by registering for an auction and bidding on a lot a written enforceable contract for the purchase of a lot is formed according to the terms specified on Recievership-Auctions.com

Due Diligence. It is each Participant’s responsibility to conduct its own due diligence and investigate all matters relating to each Property that Participant is interested in purchasing, including, without limitation, legal matters, physical condition and attributes, environmental matters, economic matters, encumbrances, and all other aspects. Participant must coordinate any such inspection with Seller by contacting employees of EquiAlt LLC, Tony Kelly (tony@EquiAlt.com) Sam Wiand (samwiand@gmail.com) or Alex Ellis (alex@EquiAlt.com). In some circumstances Seller may be unable to provide physical access for inspections and Participants must submit Offers accordingly at their own risk. All Offers should be based solely on Participant’s independent due diligence and any information contained in the Purchase Documents.

Participants are also cautioned to review public records with respect each property and consider any available information in making their decisions to bid on offered properties.

Property information has been gathered from a variety of sources and has not been independently verified by Receivership-Auctions.com. This information is provided on an “as is, as available” basis with all faults and defects. Participant may use this information for their own internal purposes and in a manner that is usual and customary for professionals within the ordinary scope of Participant’s licensed or regular business activity. Participants are encouraged to consult with a licensed real estate broker, contractor, attorney, financial advisor, tax advisor, and/or other relevant professionals.

Participant is responsible for all liability, damages and/or costs directly or indirectly arising from Participant’s inspection, visit, or investigation of the Property. Participant agrees to indemnify, defend, and hold harmless the Receiver (Burton W. Wiand) and Receivership-Auctions.com and their agents and affiliates from any such liability, damages and/or costs, and to maintain all applicable policies of insurance insuring over such liability, damages and/or costs.

3. BUYING

Irrevocability of Offers. All Offers submitted during any Event are irrevocable, except where an Offer withdrawal option is expressly made available to Participants through the Website or as otherwise set forth herein. Offers may be accepted at any time after submission.

Signing Purchase Documents. The final Purchase Documents will be emailed to Winning Buyer for electronic signature using the email address associated with Winning Buyer’s Receivership-Auctions account. Winning Buyer must sign the Purchase Documents within one business day after they are sent to Winning Buyer (unless a longer timeframe is specified in writing by Receivership-Auctions.com), time being of the essence. If Winning Buyer fails to timely sign the Purchase Documents, Receivership-Auctions.com or Seller may declare Winning Buyer to be in default of these Terms and reject Winning Buyer’s Offer or seek specific performance of the contract or damages. Registering for and bidding in the auction constitutes the written agreement of a winning bidder to purchase a property.

Payment for Purchases by Winning Bidder. The Purchase Documents for each Property require Winning Buyer to pay a deposit to the Special Trust Account of Burton W. Wiand, PA. The amount of the initial deposit is specified in the SPA on the Property Page for each Property. Unless otherwise specified in the Purchase Documents, the initial deposit must be received within 24 hours after Winning Buyer is notified of acceptance of its bid and receives wire instructions, time being of the essence. If the initial deposit is not timely received, Receivership-Auctions.com or Seller may declare Winning Buyer to be in default of these Terms and Seller may reject Winning Buyer’s Offer or seek the other remedies described above. Payment of the remaining portion of the purchase price must be made by wire transfer to the closing agent as specified in the SPA. A winning bidder my request the Recievership-Auctions.com to allow a period of time to secure financing. However, purchases are cash purchases and under no circumstances are the Winning bidders’ obligations contingent on financing. Absent separate written agreement for a delay to secure financing all payments must be made pursuant to the SPA in the times specified therein.

Proof of Funds and Additional Information. Receivership-Auctions.com may require Participants to provide proof of readily available funds and/or additional information at any time. Participant must respond to such inquiries within one business day, time being of the essence. If such proof of funds or additional information is not timely received, Receivership-Auctions.com or Seller may reject Winning Buyer’s Offer. Winning Buyers wanting to take title in the name of an entity (not as an individual) may be required to provide entity formation documents and resolutions authorizing the purchase within the timeframe specified by Receivership-Auctions.com (which may be before or after the Event, in Receivership-Auctions.com sole discretion). Seller and/or the escrow/closing agent may require additional documentation prior to closing.

Buyer’s Fee. If the Property Page for a Property states that a Buyer’s Premium or transaction fee (“Buyer’s Fee”) applies to the sale, then Winning Buyer will be required to pay the Buyer’s Premium in addition to Winning Buyer’s Offer amount at closing. Unless otherwise specified for a particular Property, the Buyer’s Fee will be added to Winning Buyer’s Offer amount to establish the total purchase price payable by Winning Buyer. It will be included in the purchase price in the SPA forwarded to the Winning Bidder.

Receivership Transactions. Each property will be sold by Burton W. Wiand as Receiver appointed in the EquiAlt Receivership. The transfer of these properties requires approval of the United States District Court for the Middle District of Florida. Upon submission of the signed Sales Procedures Agreement by a successful bidder, the Receiver will promptly apply to the Court for approval of the transaction. This process is generally efficient and can be promptly completed. The PSA and related documents will be immediately forwarded to the closing agent. Should the Court reject a transaction which in the Receiver’s experience is unlikely the winning bidder will be refunded all funds deposited as per the terms of the SPA. Purchaser will receive title through a Receiver’s Deed authorized by Court Order directing that the property is transferred free and clear of any liens or encumbrances.

Any disputes relating to the auction or any transaction shall be resolved by summary proceeding without a jury before the United States District Court overseeing the EquAlt Receivership.

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