2019/05/16 General Auction Company Auction AgreementAUCTION AGREEMENT
GENERAL AUCTION COMPANY
7015 Knott Avenue
Buena Park, CA 90620
(714) 670-8510
GENERAL AUCTION COMPANY (hereinafter'" GAC") and undersigned (Hereinafter "SELLER' agree as follows:
1. AGENCY. SELLER hereby appoints GAC as its agent to conduct a public auction of the personal property as described herein.
GAC shall be an independent contractor. SELLER authorizes and confers upon GAC the power to take all actions on SELLER' S behalf
necessary to complete the auction, including but not limited to publication and recordation of a "Notice to Creditors of Bulk Sale by
Auction" in compliance with the bulk sales law, giving any other notice or filing any documents that may be required by law, accepting
cash or checks on behalf of SELLER as registered and/or legal owner of any motor vehicle sold to effect a transfer, and satisfying or
comprising secured parties who hold or assert a lien in any property sold at action. SELLER hereby agrees to sell the property to the
highest bidder, with no minimum, reservation, buy -backs, or persons bidding for SELLER.
2. PROPERTY. The property is generally described as cars, trucks, vans, trailers, motor homes, camper vehicles of any kind,
make or model, equipment, machinery, tools, parts and/or miscellaneous items used, manufactured or distributed by any industry,
business, entity or agency.
3%Commission: Applies to the following: cars, trucks, vans, motor homes, boats and/or camper vehicles construction
equipment, trailers.
20% Commission applies to personal property, office equipment, furniture, and/or misc. items fees per Vehicle: Document: $00 00,
Smog: $00.00, KSR Fee: $00.00, Transportation: $65.00. Wash/Detail: Included.
At the option of GAC, vehicles may not be offered at auction unless the Certificate of Ownership and all other documents necessary to effect a
transfer of title of motor vehicles, trailers and towable forklifts are submitted to GAC at least five (5) days prior to the sale. The SELLER agrees to pay
advertising and all other costs as provided below on any property withdrawn from the sale as a result of the failure of the SELLER to submit the
required title documents. GAC reserves the right to add other personal property not owned by SELLER to the auction inventory.
3. TIME AND PLACE. GAC shall use GENERAL AUCTION COMPANY's yard, located at 7015 KNOTT AVE BUENA PARK
California, as the auction site. None of the property may be sold before the auction without the written consent of both parties, in which
case the sale proceeds shall be treated as part of the gross proceeds of the auction. GENERAL AUCTION COMPANY will accept items on
a continuing basis to be included in the next available and regularly scheduled auction subject to GENERAL AUCTION COMPANY'S
discretion to change such date. In the event of SELLERS breach of this agreement, SELLER agrees to pay the commission provided
below, based on current market value of said property plus all GAC's out of pocket costs.
4. COMMISSIONS AND EXPENSES. GAC shall receive as commission (SEE ITEM a2 ABOVE) of gross sales proceeds' makes no
representations or warranties as to the amount that the property (or a item thereof) will sell for GAC shall be reimbursed by SELLER
the cost Of a title search if one is deemed necessary by GAC. In the event GAC satisfies or takes an assignment of the interest of secured
parties, all amounts paid to the secured parties in satisfaction of the secured interest or for an assignment of the interest to GAC shall be
deemed to be advances by GAC, which advances shall be deducted by GAC out of the sales proceeds of SELLER after payment of
commissions and expenses.
TRANSPORTATION @: (PER UNIT) AGENCY: CONTACT
TRANSPORTATION @: (PER LOAD) ADDRESS: 144 AA1 i
DETAILING@: (PER UNIT) CITY: t, STATE: ZIP 0
PAINTING @: (PER UNIT) PHONE: M y � FAX:
OTHER: PER UNIT)
GAC REP: ChV_t_s4(C(-Vt C0lc-cyyCPvcc
SIGNATURE:
DATE:
ARMANDO G. VILLA
CITY MANAGER
REP POSITION: CITY OF MENIFEE
SIGNATURE:
DATE:
C
GAC BOND # 9$ 698 �(RE%/Z�
5. REPRESENTATION AND WARRANTIES OF SELLER. SELLER represents and warrants as follows
a. The property, and each item thereof, sold as is.
b. Each item of property is free of liens, charges or encumbrances.
c. The property is covered by insurance against normally insurable risks and such insurance shall be maintained by
SELLER until delivery of the property to a purchaser(s). GAC shall be named as an additional insured under such policies
d. SELLER has no business name or address other than the name and address specified in this Agreement.
6. INDEMNITY. SELLER hereby agrees to indemnify, defend and hold GAC harmless from any and all losses, liabilities,
claims, demands, causes of action, lawsuits or expenses (including GAC'S actual attorney fees) which arise against or are incurred by
GAC due to any of the representations or warranties of SELLER in this Agreement which are alleged to be false or because of any
breach by SELLER of any of the terms of this Agreement. SELLER agrees that this indemnity shall cover any and all losses of GAC
arising out of or in connection with death or injury to person or property damage caused in whole or in part by "known" defects in
the condition of the property
7. SECURITY INTEREST. SELLER hereby gives GAC a security interest in the property including any insurance proceeds and
in the sale proceeds in order to secure any and all advances which may be made to or on behalf of the SELLER by GAC, and to
secure any and all other obligations that SELLER owes GAC. GAC shall have all the rights of a secured creditor under the Uniform
Commercial Code and SELLER agrees to execute a financing statement enabling GAC to perfect this security interest The City will not
execute a financing statement. Auction company assumes liability upon removing property from City possession. If not sold, City will not
take property back. Auction company determines best method of sale or disposal. All City property is purchased with cash and there are
no financial liens associated with any City surplus.
8. GENERAL PROVISIONS. Payment to SELLER,
a. Within twenty- o n e (21) working days after the auction date and after the receipt of a signed Confirmation of
Consignment, GAC shall present a full accounting of the sales proceeds and expenses to SELLER. With such accounting, GAC shall
present SELLER with a check for all monies due from such auction, less any funds delayed by legal proceedings or inability of GAC,
through no fault of its own, to notify DMV of Transfer of Ownership (form 138), or to comply with the Uniform Commercial Code or
other laws. GAC reserves the right to eliminate from the settlement any property for which payment has not been made, and SELLER
agrees to accept responsibility for reclaiming same wherever located.
b. ShaWd-6ecd! , .,, essary to '^ ' a nsel-tar any-na##e rela#ed ta• auc#idra-Frr-#his Agreeeni
GAC---hall•-he-enti#fed-to-reimburs$rnent-from-SELLER-far-east-expense. In the event any dispute arises out of this Agreement, the
prevailing party shall be entitled to reasonable attorney's fees from the other party.
C. Both -parties waive-a44-slai^,,,a-f.,^� �'amage-te- the-proper4y-G€-e Ch-Party esultin94r4DM4he-negfigense of -the
ether -party where-suoh•,damages-wouhis waiver -does --root
apply to y.Xillf�l asts9-^�+�ghe�
d. GAC is authorized to satisfy or take assignment of the interest or liens of secured parties, but nothing herein shall
obligate GAC to acquire the interest of a secured party, unless GAC elects to do so in its sole and absolute discretion.
r �'� ARMANDO G. VILLA
GAC REP: Gh r13 ra.r., CITY REP: CITY MANAGER
SIGNATURE: SIGNATURE:
DATE: DATE:
GAC BOND # 988698 (REV 3/19)