Complete Bidders Package.pdf - Capital Recovery Group, LLC

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Complete Bidders Package.pdf - Capital Recovery Group, LLC

The following materials are furnished solely for information purposes.No warranties or representations are made by either the mortgageholder or the auction company as to the accuracy, completeness orusefulness of these materials or the information contained therein.Prospective purchasers should make their own investigations andinspections and draw their own independent conclusions. Thesematerials and the information contained therein are also subject topossible change prior to or at the time of the scheduled foreclosure sale.TABLE OF CONTENTSSection 1: Property InformationSection 2: Tax InformationSection 3: BrochureSection 4: Purchase & Sale Agreement1654 King Street. Enfield, CT 06082 (800) 300-6852 www.crgauction.com


85 S. Main StreetBarre City, VT 05641Additional information:Parcel# 1345-0085-0000Built in 2000Exterior Description:One story, pre-engineered steel buildingConcrete foundationExterior walls are metal w/granite block facing along the frontMetal roofConstructed on a slabShop is fully insulatedMechanical Systems:Oil fired radiant floor heatAir conditioning in office/retail areasElectric – 3 phase – 480 amp service(2) 5-ton crane waysTerms of SaleA deposit of Twenty-Five Thousand Dollars ($25,000) is required by cash, certified or bank cashier’s check at time and place of sale,with the deposit to be increased to 10% of the sale price within Five (5) days of the public sale. No buyer’s premium. Other terms tobe announced at the time of sale.


Tax Information


85 S. Main StreetBarre City, VT 05641Taxes:‣ Assessed Value: $806,320‣ Yearly Total Taxes: $23,903.32 payable quarterlyOutstanding Debt:‣ Taxes Past Due: $27,115.90‣ Past Due Water Bill ending September 2010: $117.14


Brochure


Secured Party SaleCOMMERCIALSTONE CUTTINGTOOL & SUPPLYDISTRIBUTORDesirable CommercialReal Estate PackageAUCTIONLIVEONLINE BIDDINGAVAILABLE!85 S. Main StreetBarre CityVermont 05641DATE:TuesdayNovember 9th, 2010TIME: 10:00 A.M.INSPECTION:Morning of SaleBeginning at 8:00 A.M.NEW & LIKE NEWCONTRACTOR’STOOLSn Portable PneumaticEdge Routern Polished Stone SuctionLifting Toolsn Graphtec Flat BedMarking Machinen Masonry Toolsn Power & PneumaticHand Toolsn Tool HeadSharpener-Grindern Saw TipRe-Dressing Toolsn Slings & SafetyEquipmentAPUANIA R30 TOOL SHARPENERSUCTION HANDLERSGISON EDGE ROUTERGRAPHTEC FLAT BED PLOTTERFor complete catalog andmore information visitcrgauction.comor call 1.800.300.6852MASONRY HAND TOOLSBID ONLINE ATFACE GUARDS HEARING PROTECTIONAuction Specialists • Appraisal Experts • Online or On-site1654 King Street, Enfield, Connecticut 06082(860) 623-9060 • (800) 300-6852 • Fax: (860) 623-9160Bill Firestone, President • VT Lic. No. 570002254


All New Stone Cutting& Polishing Tool Inventoryn CNC Tool Holdersn Diamond Dressed Facing & Shaping Toolsn Grinding Wheelsn Diamond Tipped Saw Bladesn Abrasives & Polishing Compoundsn Brushes, & Polishing WheelsSpare Parts, Supplies & Stores Inventory Including:motors, bearings & pillow blocks, valves, hardware, drills,end mills, fasteners, & related supplies & equipmentWarehouse, Shop Equipment,Office Equipmentn Clark 6,000-Lb. Forkliftn (2) Pellegrini 5 UST Bridge Cranesn (2) Water Treatment-Dust CollectionSystemsn Puma Air Compressorn Racking & Displaysn Pallet Jacks, Carts, & Laddersn Office Furnituren Computers, Printers, Telephone System& More!CNC TOOL HOLDERS CNC PROFILING WHEELS ASSORTED POLISHING WHEELS AND BRUSHESPROFILE FINISHING WHEELS BUSH HAMMERING HEAD SAMPLE PILLOW BLOCK BEARING SETSTERMS OF SALETo be sold in accordance with CRG Termsof Sale as published on our website andin the auction catalog. A buyer’spremium will apply.American Societyof AppraisersLIVEONLINE BIDDINGAVAILABLE!Desirable Commercial Real Estate PackageFEATURES:n 10,000+ Sq. Ft. Steel Clear Span Buildingn 2,000± Sq. Ft. Office Arean 1,000± Sq. Ft. Retailn 4,000± Sq. Ft. Mezzanine Storagein Warehousen 1± Acre Zoned Commercialn Municipal Water & Sewern 480 AMP 3 PH Electric Servicen Oil Radiant Floor Heatn Only 5 Minutes to Montpeliern Direct Access to US 89REAL ESTATE TERMS: $25,000 deposit required, cash orcertified funds. Please refer to crgauction.com for all otherterms and conditions. Bidder’s Package available uponrequest.For complete catalog and more information visit crgauction.com or call 1.800.300.6852QS-0006671


Purchase and Sale Agreement


AUCTION PURCHASE AND SALE AGREEMENTReceived from____________________________________________________________________________(Purchaser’s Full Name)SS#____________________________________________, with an address of_____________________________________________________________________________, the“Purchaser”, the sum of $25,000.00 (the “initial deposit”) and other valuable consideration, on accountof the purchase of the following land and premises, foreclosed upon by TD Bank, N.A. (Transferor),located in the City of Barre, Vermont, with an address of 85 South Main Street, and more particularlydescribed on Schedule A annexed hereto and made a part hereof (the “Property”).Purchaser shall make an additional deposit equal (with the initial deposit) to ten percent (10%) of thepurchase price and which additional deposit is due and payable to with Capital Recovery Group, LLC,within five (5) business days of the date of this agreement. The initial deposit and the additional depositshall be referred to as the “Deposit”.It is hereby agreed that Purchaser shall purchase, and Transferor shall transfer the Property in accordancewith 12 VSA section 4533 and the following terms and conditions:1. Total Purchase Price is ($ )____________________________________________U.S. Funds, with the balance after crediting the Deposit referenced above, to bepaid in certified or cashiers check to Transferor at the closing. The Deposit will be held by with CapitalRecovery Group, LLC, in a non-interest bearing trust account.2. Transfer of title to the Property shall be in accordance with the procedure set forth in12 VSA section4533 and by Order of Confirmation as issued by the State of Vermont, Civil Division, Washington Unit,and in AS IS condition existing as of the date of delivery of possession, with all faults. Any personalproperty to be conveyed by quit claim bill of sale. Transferor’s obligation to transfer the Property iscontingent upon a confirmation order of the Washington Superior Court, in the matter of TD Bank, N.A.f/k/a TD Banknorth, N.A., f/k/a Banknorth, N.A. v. Pyramid Supply, Inc., et al, per court Docket #20-1-10Wncv.3. Subject property is to be conveyed “AS IS”, it being fully understood that no representations are madeas to the condition of the buildings located on the lands and premises, the land itself or the acreage of saidpremises or condition of any personal property. The Property is sold subject to all existing buildinglines (if established), all laws, ordinances and governmental regulations (incl. building and zoningordinances) affecting the Property, and easements and restrictions of record, if any. Purchaser agrees toaccept said Property in its present condition, without representations or warranty. This provision shallsurvive the Closing. Conveyance is subject to the terms and conditions as announced at the public sale ofthe Property. The Property is sold subject to a commercial tenant occupying a portion of the Property.Transferor has no information on any lease terms. Transferor shall not have any obligation to remove thetenant. Removal of the tenant, should Purchaser desire to remove the tenant, shall be at Purchaser’s costand expense.4. The closing shall be conducted within 10 days after confirmation by the court or forty-five days (45)days from date of auction (the “Closing Date”), whichever is longer. The closing will take place atcounsel’s office for TD Bank at 98 Merchants Row, Rutland, Vermont, or at such other place as may be


agreed between the parties. Possession of the Property shall be given to the Purchaser at the time ofclosing.5. Should Purchaser fail to tender the additional deposit as required on or within five (5) business daysof the date of this agreement; or having tendered such additional deposit, fails to tender the balance due atclosing; all deposit(s) from Purchaser shall be retained by Transferor as liquidated damages and shall beapplied to cover the expenses of sale, and any subsequent sale and the foreclosure sale shall be void.6. If the Property is damaged by fire or casualty between the date of the signed purchase and salesagreement and the date of closing, the Transferor at its option shall have the right to repair said damage tothe same condition the subject property was in prior to the date of damage or of terminating this contract,and if the contract is terminated by Transferor, the deposit will be returned to Purchaser, and this contractnull and void.7. Purchaser shall pay any costs incident to searching the title to the Property, should they desire tosearch the title, and shall pay any property transfer tax and land gains tax due. Transferor shall not beresponsible for remedying any defects in title. Transferor will prepare the property transfer tax return,and the Land Gains Tax Return, if one is required.8. The property will be sold subject to the City of Barre taxes and all municipal assessments (delinquentand current, with all penalties and interest) and all liens of record, restrictions, easements, improvements,covenants, tenancies, rights, encumbrances, and matters of any kind and every nature which may takeprecedence over the lien of the mortgage being foreclosed. These taxes and assessments due to the Cityof Barre shall be paid by Purchaser over and above the Purchase Price.9. Purchaser agrees that, in entering into this agreement, he/she is not relying on any representationsmade by Transferor or Auctooneer, but, rather, is relying solely on his/her own judgment, reached afteran investigation made by Purchaser into the condition of the Property, and Purchaser’s own personalinspection thereof. Purchaser has inspected the Property which is the subject of this Agreement, isfamiliar with the condition of such Property, and accepts the same in its condition, “AS IS, WITH ALLFAULTS” without warranty, expressed or implied, except that Transferor has the right to convey title. Itbeing fully understood that Transferor has made no warranties, express or implied, or representationspertaining to the Property, the condition thereof, or any other matter pertaining thereto, including but notlimited to matters relating to boundaries, acreage, or compliance with Vermont zoning, subdivision andenvironmental laws, and environmental conditions or hazards on the Property. Expressly excluded fromapplication are all warranties of merchantability, fitness for any particular purpose or any other warrantiesexpress or implied at law. It is further understood that Transferor makes no warranties or representationswith respect to boundaries, acreage, or compliance with Vermont zoning, subdivision and environmentallaws, and environmental conditions or hazards on the Property, the availability of permits, licenses,zoning, variances, certificates of occupancy, or any other matters pertaining to the use of the Property.Transferor makes no warranties as to permits or permitted use of this Property. Purchaser acknowledgesthat in no event is Transferor responsible for obtaining any permits to comply with state, federal ormunicipal laws or for making any repairs, upgrades, and/or treatments to the Property.This Agreement and subsequent conveyance is subject to these disclaimers and as set forth in Addendum#1.10. By execution of this agreement, Purchaser represents that he/she has performed such due diligencethat the Purchaser deems sufficient and as a result of such due diligence, Purchaser desires to enter into2


this agreement to purchase and is not entering into this agreement as a result of any advertisement orannouncement or representations made by the Transferor and/or Auctionerr or with the understanding thatthe purchase is subject to any further due diligence review. This provision shall survive the closing11. Transferor and Purchaser agree that Capital Recovery Group, LLC as Auctioneer brought aboutthis sale and that Capital Recovery Group, LLC acted solely as an arm of the court in the judicialforeclosure.12. Purchaser agrees that in any dispute or action arising out of this Agreement, or the matters describedherein, the damages to which Purchaser may be due at any time and as against Transferor for any reasonshall be specifically limited to the amount of Purchaser’s deposit, repayable without interest, and thatunder no circumstances may such damages include any claim for punitive damages, lost profits, profits orinvestment opportunities, or attorneys’ fees. Purchaser agrees that in the event of any dispute as betweenPurchaser and Transferor and relating to the subject matter of this Agreement, or the Property herebycontemplated to be transferred by Transferor to Purchaser, such dispute shall be tried before the presidingjudge of the Superior Court in Washington County sitting without a jury.13. WAIVER OF JURY TRIAL. PURCHASER HEREBY WAIVES ITS RIGHT TO A JURYTRIAL WITH RESPECT TO ANY ACTION OR CLAIM ARISING OUT OF ANY DISPUTE INCONNECTION WITH THIS AGREEMENT, THE PROPERTY OR RIGHTS OROBLIGATIONS HEREUNDER OR THE PERFORMANCE OF SUCH RIGHTS ANDOBLIGATIONS. THE PURCHASER (a) CERTIFIES THAT NO REPRESENTATIVE ORAGENT OF THE TRANSFEROR OR AUCTIONEER HAS REPRESENTED, EXPRESSLY OROTHERWISE, THAT THE TRANSFEROR WOULD NOT, IN THE EVENT OF LITIGATION;SEEK TO ENFORCE THE FOREGOING WAIVERS.14. This Agreement shall be enforced and construed in accordance with the laws of the State ofVermont. This Agreement contains the entire agreement of the parties, and it may not be amendedsubsequent to the execution hereof, except by a writing executed by each of the parties to this agreement.This Agreement shall be binding upon the respective heirs, successors, personal representatives andassigns of the parties hereto. Each party warrants and represents that it has the capacity, authority andability to legally consummate the transaction set forth herein.15. Purchaser acknowledges that Purchaser has not relied upon any oral or written representations ofany employee, agent or attorney for Transferor or Auctioneer not expressly set forth in this agreement as abasis for Purchaser’s decision to execute this Agreement. In express recognition thereof, Purchaseragrees that in the event of any ambiguity as to the meaning or intent of the terms or obligations set forthherein, or any documents executed in connection herewith, such ambiguous term or provision shall not beconstrued more favorably to one party than to another.16. The parties agree that, with respect to the performance of their respective obligations hereunder, timeis of the essence. Should Purchaser default in any obligation under this agreement or fail to close withinthe time herein described, Purchaser agrees to indemnify and hold Transferor harmless from any resultingor consequential loss, claim or damage of any kind whatsoever, including but not limited to any attorneys’fees incurred by Transferor. Paragraphs #s 3, 9-16, together with the Addendum shall survive the closingon the Property.Purchaser has read this agreement and understands the terms and is bound by its contents. THISIS A LEGALLY BINDING CONTRACT.3


IN WITNESS WHEREOF, the Purchaser(s) have executed this agreement at Barre, Vermont, this 9 th dayof November, 2010.IN THE PRESENCE OF:____________________________Witness_______________________________PurchaserIN WITNESS WHEREOF, the Transferor has executed this agreement at Barre, Vermont, this 9 th day ofNovember, 2010.IN THE PRESENCE OF:________________________________Witness_______________________________For TD Bank, N.A.(Transferor)4


ADDENDUM #1 TO AUCTION PURCHASE AND SALE AGREEMENTDISCLAIMER AS TO CONDITION OF PROPERTYPurchaser agrees to accept such property in its present condition, notwithstanding the possible existenceof hidden defects or other matters not visible or ascertainable from such inspections and Purchaser herebyexpressly assumes the risk of any and all defects in the Property. Purchaser acknowledges that Transferorhas made NO WARRANTIES OR REPRESENTATIONS concerning the condition of theProperty; Transferor hereby EXPRESSLY DISCLAIMS ANY AND ALL WARRANTIES, EXPRESSOR IMPLIED, INCLUDING ANY WARRANTY OF HABITABILITY; and Purchaser represents toTransferor as a material inducement to this contract, that Purchaser is relying solely on such inspectionsand examination, if any, that Purchaser has conducted prior to the expiration.DISCLAIMER AS TO LAND USE REGULATIONS AND PERMITSPurchaser acknowledges and represents that Transferor has made no representations in respect of, thatPurchaser has conducted such investigations as Purchaser deems appropriate relating to, and Transferorhereby EXPRESSLY DISCLAIMS ANY AND ALL WARRANTIES pertaining to, and concerning all ofthe following:1. The applicability of state and local laws, rules and regulations concerning the ownership, use andoccupancy of the property, including, but not limited to such laws, rules and regulations concerningstate and local land use, subdivision, zoning, health, public buildings, water supply, wastewaterdisposal, onsite sewage disposal, and the compliance of the Property with the same.2. Purchaser acknowledges that the Transferor has no responsibility to Purchaser for any hazardouswaste, asbestos, oil, petroleum waste, lead paint, urea formaldehyde and other liability causingsubstances on, under or emitting from the premises.3. The existence, status and availability of all permits, licenses, approvals, and certificates of occupancyapplicable to the Property, and the compliance of the Property with the same.Notwithstanding any other term or condition of this contract, any defect in the status of permits, licenses,approval or certificates of occupancy or noncompliance with any such laws, rules or regulations shall notbe deemed a defect in marketability of title.SURVIVAL OF TERMS AND INCLUSION IN ORDER OF CONFIRMATIONTransferor’s disclaimers and Purchaser’s representations and acknowledgements contained in thisAddendum shall not become merged in, but shall survive the closing of the conveyance of title toPurchaser. At Transferor’s election, the form and substance of the foregoing DISCLAIMERS may, butneed not, be set forth in the Order of Confirmation of conveyance as further evidence of Purchaser’sacceptance of the foregoing terms and conditions in the conveyance of the Property.TRANSFEROR:__________________________________TD Bank, N.A., agentPURCHASER: ________________________________DATE: ______________DATE: ______________5


ADDENDUM #2 TO AUCTION PURCHASE AND SALE AGREEMENTI/We _______________________________________, Purchaser(s) hereby state that I/we am/are notemployed by The Toronto-Dominion Bank or any of its subsidiaries or affiliated corporations (the“Bank”) nor am I related in any way with solicitors or agents retained by or on behalf of the Bank inrelation to the property that is the subject of this transaction and confirm that I am dealing at arm’s lengthwith the aforementioned parties.If the above is not applicable, state the nature of relationship with any of the aforementioned parties:_____________________________________________________________________________________DATED at Barre, Vermont, this 9 th day of November, 2010.__________________________________________Purchaser6


SCHEDULE ABeing all and the same lands and premises conveyed to Pyramid Supply, Inc. by Warranty Deedof Ronald J. York, dated July 28, 1999, and recorded in Book 176 Page 945 of the City of BarreLand Records.“Being all and the same lands and premises conveyed to Robert L. Norway and Ronald J. Yorkby Quitclaim Deed of the Administrator, Small Business Administration which Quitclaim deed isdated January 24, 1989 and recorded on January 26, 199 at Book 138, Pages 644-645 of the Cityof Barre Land Records. The interest of Robert L. Norway was conveyed to Ronald J. York byQuitclaim Deed dated March 16, 1994 and recorded on March 22, 1994 at Book 155, Pages 271-272 of the City of Barre Land Records.Meaning and intending hereby to convey the lands and premises more commonly known as 85South Main Street, so-called, in the City of Barre, Vermont.Said land and premises are subject to the terms and conditions of Wastewater Permit WW-5-1553dated October 13, 2000. This conveyance is made subject to and with the benefit of any utilityeasements, public rights-of-way, spring rights, easements for ingress and egress, and rightsincidental to each of the same as may appear more particularly of record; provided, however, thatthis paragraph shall not reinstate any such encumbrance previously extinguished by theMarketable Record Title Act, Chapter 5, Subchapter 7 of Title 27, Vermont Statutes Annotated.If it should be determined that all or a portion of the conveyed lands and premises are Vermontperpetual lease land, then same are conveyed as such.Reference is hereby made to the aforesaid deeds and their records and to the deeds and recordscited therein for a further and more particular description of the land and premises herebyconveyed.”324-660/3630177

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