THIS AUCTION WILL BE CONDUCTED PER THE TERMS AND CONDITIONS LISTED BELOW PLUS ANY
OTHER PROVISIONS ADDED BY MRI AUCTIONS, INC (auctioneer) AT ANYTIME OR AS POSTED ON
- Registration: MRI AUCTIONS, INC, at its
sole discretion, may deny registration to any person or entity.
- Any and all announcements made by the Auctioneer on the day of the auction sale shall supersede any other
written or oral information previously distributed.
tioneer and seller make no representations, warranties, promises, covenants or guarantees, expressed or
implied, as to defects in or the completeness or accuracy of the description in any advertising of any item(s) being
auctioned and is not responsible fo
r any advertising discrepancies or inaccuracies of any kind. All items are sold on
an AS IS, WHERE IS AND WITH ALL FAULTS BASIS WITHOUT EXCEPTION and WITH REMOVAL AT BUYERS
SOLE RISK AND EXPENSE. THE AUCTIONEER AND SELLER MAKE NO REPRESENTATIONS, WARRANTIE
PROMISES, COVENANTS OR GUARANTEES OF ANY KIND, EXPRESSED OR IMPLIED, AS TO THE NATURE,
QUALITY, DURABILITY, CAPABILITY, FUNCTION, PERFORMANCE, VALUE OR CONDITION OF THE ITEM(S)
BEING AUCTIONED OR ITS (THEIR) SUITABILITY FOR ANY USE. THE AUCTIONEER AND S
EXPRESSLY AND SPECIFICALLY DISCLAIM, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY
OR FITNESS FOR A PARTICULAR PURPOSE. The undersigned hereby waives, releases, remises, acquits and
forever discharges the Auctioneer and seller, and their respec
tive employees, agents, or any other person acting on
behalf of the Auctioneer and seller, of and from, and shall indemnify and hold the Auctioneer and seller, and their
respective employees, agents, or other persons acting on behalf of the Auctioneer and
seller from and against any
claims, actions, causes of action, demands, rights, damages, costs, expenses or compensation whatsoever, direct or
indirect, known or unknown, foreseen or unforeseen, which the undersigned now has or which may arise in the futur
on the account of or in any way growing out of or connected with any defects, latent or otherwise, or the physical
condition of any item(s) purchased or any law or regulation applicable thereto. The undersigned specifically waives
the provisions of Calif
ornia Civil Code section 1542, which provides: "A general release does not extend to claims
which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known
by him must have materially affected his sett
lement with the debtor."
- The Auctioneer and seller encourage the undersigned to avail itself of the opportunity to make inspections prior to
bidding and/or purchasing. The undersigned hereby acknowledges that it has inspected or voluntarily
inspection of all of the items upon which it will be bidding and/or does purchase. Auction sales are subject to
cancellation and items are subject to prior sale. The seller’s secured creditors must confirm all sales. The Auctioneer
and seller r
eserve the right to augment this auction with items from additional sellers. These items may be
interspersed and not specially identified throughout the auction sale.
- The Auctioneer shall regulate all matters relating to the conduct of the a
uction and the Auctioneer’s decisions shall
be final and binding on all bidders. The Auctioneer reserves the right to group, regroup, reduce, add to or delete lots
as well as accept or reject any or all bids at the Auctioneer's sole discretion. The Auction
eer also reserves the right to
offer any or all of the items in bulk at any time during the auction at the Auctioneer’s sole discretion. The Auctioneer
shall determine the bidding increments and the Auctioneer and/or seller may bid on any item(s) to protec
t its financial
interest or indebtedness at its sole discretion. Some items may be auctioned with reserve, subject to the seller’s right
of confirmation. Immediately upon knockdown and the Auctioneer has declared the undersigned to be the purchaser,
ems comprising of the lot become the sole and absolute responsibility of the undersigned and the undersigned
shall thereupon and thereafter assume all risk of loss (including, but not restricted to loss by way of theft or damage)
and liability relating to
such items. The undersigned is advised to pre
arrange insurance coverage for its purchases.
Title to and possession of the lot shall not pass to the undersigned until the Auctioneer has received payment for all
lots duly purchased in full. PLEASE NOTE: ON
SITE BIDDERS and INTERNET BIDDERS will be charged a Buyer's
Premium. Please check each sale for the Premium to be charged.
- On the day of the auction (unless otherwise announced) all purchases must be paid in full (No exceptions) by
company check with a bank letter of guarantee
or bank wire made payable to the Auctioneer. Credit
cards are not accepted. A fee will be charged by the auctioneer for wire transfers. Personal and company checks will
be accepted at the Auctione
er’s sole discretion, only if accompanied by a letter of guarantee by payers bank
guaranteeing unqualified payment to Auctioneer for the total amount of purchase. Auctioneer must approve all payment methods in its sole and absolute discretion prior to bidd
ing. The Auctioneer reserves the right to determine,
in the sole judgment of the Auctioneer, the validity of all cashier checks and letters of guaranty. Wire transfer
information for payments to the Auctioneer is set forth below. If for any reason the unde
rsigned fails to pay the
purchase price within the time limit set forth in the catalog or announced by the Auctioneer at the sale and/or fails to
remove 100% of its purchases on or before the date and time announced by the Auctioneer prior to bidding durin
the opening announcements, and/or fails to comply with any other conditions or term of sale, such item(s) will be
considered abandoned and the Auctioneer may resell at public or private sale without further notice, or otherwise
dispose of any and all of
such items and the undersigned hereby agrees to pay any deficiency and all removal and
other costs relating to such resale together with all charges, legal fees, interest and expenses in connection with such
sale or disposition, plus a $500.00 per diem fee
per item until such item(s) is (are) removed. The undersigned further
agrees that the Auctioneer and/or seller may retain all monies received pursuant to any such resale and apply such
monies to any such deficiency without further notice. No claim will be
considered for allowance or rescission of any
sales based upon failure of the property to correspond with any standard expected.
Note to Internet Bidders: Final
payment information will be provided in a separate invoice within 48 hours following the aucti
must be received in full within 24 hours of receipt of invoice.
- Applicable sales tax will be added to the purchase price and the buyer’s premium of all taxable auction items. The
undersigned shall provide proof satisfactory to th
e Auctioneer of its entitlement to claim exemption from sales tax,
which proof must be representative of the same industry as the item(s) that are purchased. In the absence of proof
satisfactory to the Auctioneer, the buyer shall pay all taxes. The Auction
eer or seller will not be responsible for any
penalties regarding registration fees or smog certificates related to motor vehicles. Certain vehicles as announced
and/or noted on buyers invoice will be sold “AS IS” with a Bill of Sale only, excluding a Depa
rtment of Motor Vehicles
Title or Pink Slip.
- The Auctioneer or seller shall in no event be liable to the purchaser for non
delivery of any item(s) for any reason
except for the return to the buyer of the deposit or other sums paid for such n
on delivered items. This non
period extends from the fall of the hammer until the time allotted for the removal process concludes. In no event will
the Auctioneers or sellers liability to the undersigned exceed the amount actually paid by the unde
UNDERSIGNED HEREBY ACKNOWLEDGES AND AGREES THAT THE AUCTIONEER AND SELLER SHALL NOT
BE LIABLE FOR SPECIAL, CONSEQUENTIAL OR INCIDENTAL DAMAGES.
- Bidder’s paddles are nontransferable. All bids made by the holder of the paddle will
be the responsibility of the
registered bidder. A successful bid at auction constitutes a legally binding contract of sale. All sales are final! No
refunds, returns, credits or exchanges! NO EXCEPTIONS!
- The Auctioneer reserves the right to r
emove any person from the auction site and refuse that individual's bid or
proxy bid. In the event of such removal any outstanding deposit will be immediately returned.
TERMS AND CONDITIONS FOR DISCONNECT AND REMOVAL:
All electrical disconnect, rigging,
loading, removing, broom cleaning, trash & debris removal and
transportation are the sole and absolute responsibility of the undersigned. The undersigned agrees to
remove its purchases in full, with no abandonment privileges, from the premises on or befor
e the date and
time announced by the Auctioneer prior to bidding during the opening announcements. NO EXTENSIONS
WILL BE GRANTED. ALL REMOVAL MUST BE BY APPOINTMENT. AUTHORIZED RIGGERS AND
- The undersigned must present conf
irmation of payment and a copy of the customer invoice to the Auctioneers
personnel prior to the removal of any item.
- No item(s), no matter how small, may be removed while the auction is in progress. Representatives of the
Auctioneer at the
auctioneer’s sole discretion may stay one hour after the auction is completed for the removal of
small items. All small items must be removed by 4:00 pm on the day following the auction.
- The undersigned must present the Auctioneers personnel
with a valid commercial general liability insurance
certificate in a minimum amount of $1,000,000.00 combined single limit per occurrence coverage naming the
Auctioneer, the Seller and the Landlord as additional insured. If available, bridge cranes and ho
ist may be used only
by the undersigned if crane insurance is included on their certificate and only with the written permission of the crane
owner. In addition, the undersigned must provide the Auctioneer proof of workers compensation insurance.
- Should any pits, floor bolts or hazards of any type exist after removal of equipment, it is the responsibility of the
undersigned, at its cost, to guard these areas using generally accepted safety practices, such as safety tapes, pipes
or bars welded
in place or suitable safety barriers acceptable to the Auctioneer. All floor bolts and/or anchoring
fasteners are to be cut flush to the floor and the area left broom clean and all debris removed. It is the responsibility of
the undersigned to be sure tha
t the power to the item(s) is off and then to safely disconnect all electrical wiring and
utility piping from the item(s) and to cap at the first electrical or air junction of the item(s).
- Item(s) are to be staged for loading in the area ass
igned by the Auctioneer's personnel.
- t is the undersigned's responsibility to secure all safety equipment to meet all applicable government safety
standards in using or removing any items purchased. Certain items may contain residual chemic
als and/or hazardous
materials. The undersigned hereby agrees to indemnify and hold harmless the Auctioneer and seller from any and all
damages, claims or liabilities from any injuries to persons or property of any type whatsoever caused by the
, its agents, employees or contractors during the sale or during the removal, use or operation of the
purchased item(s). Any hydraulic fluid removal and/or oil leaks are the undersigned's responsibility to remove and
clean up. The undersigned must take ful
l responsibility for compliance with applicable environmental laws and
exercise all reasonable care to ensure that there is no release to the environment of any hazardous wastes or
substances as defined in applicable Federal, State and Local Statues, Regul
ations, Rules or Ordinances.
- No trucks are to be left running in an enclosed building. The Auctioneer is not liable for personal belongings left on
- Any surface or structural damage to the premises including but not l
imited to the walls, ceilings, floors, overhead
doors, gates and/or any other item(s), etc. will be the undersigned's sole responsibility. The undersigned will not be
permitted to leave with its purchases until repairs are made.
- Theft will n
ot be tolerated and Auctioneer reserves the right to inspect all trucks, toolboxes and rigger cases, etc.
Instances of theft will result in immediate termination of removal privileges and full prosecution by law. All quantities
must be checked prior to rem
oval, as adjustments will not be made thereafter.
- GOVERNING LAW/ATTORNEYS FEES.
This Agreement shall be construed and interpreted according to the
laws of the State of California.
The Bidder and or Purchaser or its representative further
agrees to have Los Angeles
California as the Forum City & State in the event any lawsuit is initiated by either party. If any action or arbitration
based on the performance, breach or interpretation of this Agreement is brought, the prevailing party in suc
h action or
arbitration (as determined by the court or other body having jurisdiction) shall be entitled to recover from the losing
party all actual costs and expenses of litigation or arbitration, including attorney's fees, court costs, costs of
tion, and other costs related to such proceeding.
- These terms and conditions together with any amendments or modifications, expressly made by the Auctioneer at
the time of the auction constitute all the terms and conditions with respect to th
e sale of items at this auction.
are no representations, warranties, terms, conditions, undertakings or collateral agreements except as herein above
SITE BIDDERS and INTERNET BIDDERS will be charged a Buyer’s Premium.
Please check each sale for
the Premium to be charged.