Service Solicited - 2023 - Downs Auction Service Inc - Downs Auction - Auction Contract for 8285 W Equest Lane DOWNS AUCTION SERVICE INC
DOWNSAUCTION.COM
Estate-Real Estate`Commercial-Liquidations
221 S.Eagle Rd.,Eagle,ID 83616 Phone#208-939-4456 Fax#208-995-2904
Name: tX C{ _ Rep/Trustee:
- ,Auction Address: laQ v2 si- ('+l1, Mailing Address: P,0 a)t15 z 0
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CQNStrlunR AGREEc TO CONSIGN BELOW DESCRIBED ARTICLES FOR AUCTION UNDER THE FOLLOWING TERMS AND CONDITIONS:
1.The date for the auction of the consigned articles described below('Consigned Artkles")will be
2.All aspects of the auction shall be solely within the discretion and control of the Downs Auction Service INC.reserves the right to cancel auction
at any time.Any and all reimbursable costs are to be paid by Consignor to Auction Company within 10 days after cancellation.
*3.There are no minimum or reserve prices on the Consigned Articles,and Auctioneer will not guarantee any selling price for said articles.Neither
consignor,nor anyone acting for Consignor,may bid on or buy-back any item Consignor has consigned to auction,unless prior arrangements have
been discussed and agreed upon between Consignor,Auctioneer and Auction Company.
4.Consignor agrees to pay auctioneer a commission for selling the Cons*m d Articles and all reimbursable expenses as follows:
VEHICLES: BUYER'S PREMIUM:_Z0 70) SECURITY:
GUNS: FLYER: LABOR SET-UP:
HOUSEHOLD: POSTAGE: PORTABLE TOILETS:
MISC.- WEB PAGE: OTHER:dOrrmIS.Siciig(
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ADVERTISING:
IDAHO STATESMAN: N Approx.Cost: C
IDAHO PRESS TRIBUNE: Approx.Cost: i<_) L C 1
Other: Approx.Cost:
Other. / Approx.Cost:
5.At the completion of the auction,Auctioneer shall furnish to Consignor a list of the Consigned Articles sold together with the sale prices
obtained.After deducting from the auction proceeds all amounts due Auctioneer under this agreement(including amounts for commission,
reimbursable expenses,and Indemnification),and any amounts necessary to pay other parties(including lienors)as may be required by law or
under this agreement,Auctioneer shall pay to Consignor the net proceeds within 10 business days after the auction.
6.Consignor agrees not to sell or in any manner dispose of any of the Consigned Articles prior to auction.If Consignor sells or disposes of any of the
Consigned Articles prior to auction,Consignor shall reimburse Auctioneer for commission on any article thus sold or disposed of(as well as for any
reimbursable expenses and indemnification due Auctioneer under this agreement for said article)as if the article had been sold at auction.Further,
Auctioneer may deduct any commission,reimbursable expenses,and indemnification due on any such article from the proceeds of articles
consigned by Consignor that were sold at auction.
7.Consignor warrants that he has full authority to sell Consigned Articles and further,that he will make available all necessary documents of title
within three(3)days prior to the day of auction.Consignor warrants and guarantees that his title to the Consigned Articles is unencumbered and
free from any liens except for the following(if none,so state):
S
Consignor's Initials( )Date:
1
&If there are any liens against the Consigned Articles,Consignor authorizes Auctioneer to deduct amounts from the auction proceeds with which
to pay off lien holder(s).Auctioneer shall deduct all amounts owing to Auctioneer before making payments to lien holder(s).Notwithstanding the
foregoing,Auctioneer shall have no duty to determine the existence of liens or to pay lienors.
9.Consignor assumes all risk of loss to the Consigned Articles until such risk passes to buyer.Auctioneer is not responsible for fire,theft,vandalism,
or other losses(i.e.,auction funds not paid due to fraudulent/returned checks or non-payment in any form.It is the Consignor's responsibility,at
his sole expense,to keep said articles insured until such risk passes to buyer.
10.Consignor warrants to Auctioneer,solely for the protection of Auctioneer,that there are no known hidden defects in articles sold or to be sold.
1L Consignor hereby engages Auctioneer as the agent of Consignor for purposes related to the auction.Auctioneer shall have authority to execute
bills of sale to purchasers at the auction,and to receive,demand,and collect sale proceeds.Auction company and/or auctioneer issue no written or
implied guarantee that all auction funds will be collected.Auction company will take reasonable,commonly practiced measures,within it's
purview,to collect delinquent and/or non-sufficient fund checks of auction funds but does not guarantee payment on those funds if not collected.
12.Auctioneer does not guarantee that any sale to a bidder at the auction will be completed.If for any reason a bidder refuses to pay for an
auctioned item prior to or after removal of the item from the auction site,Auction company/Auctioneer may,at its option and if possible,return
the item in question to Consignor(in which case Auctioneer shall not be required to make any payment to Consignor)or re-auction such item
within a reasonable time,determined by Auctioneer,after the auction specified herein.
13.Auctioneer may charge Consignor for actions required to prepare the Consigned Articles for auction.
14.Consignor authorizes Auctioneer to start and move equipment in the auction area..
15.Consignor understands that there are inherent unknown factors and risks involved in an auction,(such as:soft or unusual market prices,NSF or
fraudulent checks,etc),and releases Auctioneer and Auction Company from all risk and liability which may arise from any unexpected auction
outcome.
16.Consignor/Seller understands the buyer's premium is paid by the buyer directly to the Auction company.
17.Consignor assumes,and indemnifies Auctioneer from,all risk and liability which may arise from the failure of the Consigned Articles to comply
with government regulations,including environmental regulations,and Consignor shall pay all costs of cleanup of such articles and any other costs
incurred due to environmental pollutants associated with said articles.
18..Consignor will indemnify Auctioneer from any loss,casualty,or liability(including attorneys fees,costs,expenses,settlements and judgments)
incurred by or threatened against Auctioneer by any third party from any claim(whether or not suit is filed)not the fault of Auctioneer,including
but not limited to the following matters:claims asserting defects In Consignor's title or in Consignor's authority to consign for auction any goods
sold or to be sold;injury(including environmental injury)resulting from any goods sold or to be sold;or claims caused by any breach of this
agreement by Consignor.Consignor authorizes Auctioneer to withhold net auction proceeds as necessary to assure Auctioneer of indemnification
hereunder,but Consignor's obligation to Indemnify shall not be limited to amounts withheld(if any).
19.Consignor will indemnify Auctioneer for all attorneys fees and costs(whether or not suit is filed)Incurred by Auctioneer to enforce any term of
this agreement,or to determine conflicting or uncertain claims by third parties to the auction proceeds,whether by negotiation,arbitration,or
commencement of suit(including interpleader action).Consignor authorizes Auctioneer to withhold net auction proceeds as necessary to assure
reimbursement of Auctioneer for attorneys fees and costs hereunder,but Consignor's obligation to indemnify shall not be limited to amounts
withheld(if any).
20.In the case of conflicting or uncertain claims(including Consignor's and/or Auctioneer's claims)to the auction proceeds,Auctioneer may obtain
determination of those claims(including filing of suit for interpleader)for the protection and release of Auctioneer from any further liability for the
auction proceeds.In case of interpleader,Auctioneer may deduct all commissions,expenses,and Indemnification amounts to which Auctioneer is
entitled under this agreement before the net proceeds are interpleaded.
21.This contract contains the entire agreement between the parties.No representations or warranties have been made by Auctioneer,Bill Downs
Auction Service,Inc,or by any of Auctioneer's agents or employees.No modification of the terms herein shall be effective except in writing and
signed by both parties.
22-Consignor agrees to submit,at Auctioneer's election,to the jurisdiction and venue of the Superior Court of the State of Idaho for Canyon or Ada
County(in which case Consignor waives any right of removal)or to the jurisdiction and venue of the United States District Court for the State of
Idaho in any action concerning in any way this agreement.This agreement shall be governed by the laws of the State of Idaho.
Consignor agrees,by signature,to abide by the foregoing terms and conditions,and further,acknowledges receipt of a copy of this contract.
Consignor/Representative: J -- Date:
Auction Company Representative: Date:
Z
❑OWNS REALTY
07/26/23
City Of Eagle
Auction Proposal
August 16,2023-10:00am
8285 E. Equest Ln.Eagle,ID
Items for sale:
Home:With a minimum bid of$20,000.00
Barn.with a minimum bid of$10,000.00
• Commission to be 10%
• We will post the home and the shop on IMLS and offer 3%commission to agents.
• Advertising not to exceed$1500.00.City of Eagle to be responsible for advertising costs.
• Downs Auction to collect all funds and pay City of Eagle once funds have cleared the bank.
• Buyer to pay Downs Auction a 10%buyer's premium.
• We will place a reader board off Hwy 16 announcing the auction.
Downs Realty and Auction would love to help the City of Eagle.Let me know if there are any
questions.
Thank you,
Larry Downs
208-941-1075