Page Two CONTRACT
8. Online auction shall commence in early October (and last until end time, usually 6 days
from the start of the sale).
9. if any assets as designated in this agreement are sold on or after the signing of this
agreement, it shall be considered to have been sald by the Auctioneer and will become part of
the revenue from the sale of the assets. However, if in the event of a fire, acts of God, or other
damage, caused to said personal property not due to negligence of Auctioneer, but preventing
sale thereof, due to such damage, Municipality agrees to compensate Auctioneer in accordance
with Paragraph 4 of this agreement to the extent of such sums as are recovered from insurance
companies or such other amounts recovered from all sources, Total settlements and all, shall be
considered as gross.receipts of sale.
10, Auctioneer will provide clerking services and a full accounting of the Auction to the
Municipality. Auctioneer will invoice and collect payments for the liems sold,
11. It is agreed by all parties that the personal property being offered for sale will be sold on
an “as is, where is” basis, without warranty or guarantee as to condition of said property.
Successful bidders of any personal property shall furnish all necessary labor and expense of
moving and an/or all personal property. All machinery movers and Riggers will furnish insurance
certificates naming Municipality as additional insured,
12. Auctioneer will use its best efforts to secure the highest and best prices for all personal
property offered and further warrants to Municipality that it will not purchase any of said personal
property for its own account or benefit.
13. Auctioneer agrees to furnish evidence of liability and property damage insurance in
aggregate amount of Four Million Dollars ($1,000,000.00 plus a 3,000,000.00 umbrella policy)
naming Municipality as additional insured.
14, Personal property may remain on the premises at said location for a period not to
exceed 30 days from date of auction, rental free thereon, unless otherwise extended in writing,
and Auctioneer will have its representative present during such period. Auctioneer may abandon
any unsold and unclaimed items from the Auction and will not be required to remove trash or
debris from the facility.
15, Municipality agrees to put for sale by online auction, the items of equipment currently
located at the facility known as Ultima NIMCO, located at 1 Pine Street Extension, Nashua, New
Hampshire 03060,
_ 16. In the event that the said sale does not take place through no fault or act on the part of
the Auctioneer, the Municipality shall pay fo Auctioneer as liquidated damages, any and all
expenses incurred by Auctioneer uncer paragraphs 4 and 10, including but not limited to the
stated amount in Paragraph 4, ,
