Airlock, MAC Process , M/N HD 16 x 12 (connected to lot #142 Bag House)

2017 Terms of Sale Agreement

SELLER RESERVES THE RIGHT TO ACCEPT OR REJECT ANY AND ALL BIDS 15% Buyer's Premium on all sales, 3% Internet Fee. Full Payment at Termination of Sale. All Bills must be completed on Day of Sale unless other arrangements made with Auctioneer.

ALL BUYERS BE AWARE THAT RIGGING FEES MAY APPLY TO ALL PURCHASES. APPROVED RIGGERS WILL BE POSTED ONLINE FOR PRE AUCTION RIGGING FEES IF NOT POSTED IN EACH LOT DESCRIPTION.

BULK BIDDERS MUST PRE-REGISTER WITH AUCTIONEER.  For the sale events of both the Auction and Sealed bid, lots 1-5 are bulk packages. Equipment and Real Estate is available in this sale in varying packages. These bulk lots include: 

Lot 1 All Assets (including the Plant and the Plant Real Property); 

Lot 2 All Plant Real Property, including the building structure located thereto (but excluding all other equipment, and personal property);

Lot 3 All Plant equipment (excludes the Plant Real Property and the building structure located thereon);

Lot 4   Chipping equipment only;

Lot 5  Drying, dust collecting and pelleting equipment only.

In order to bid on these lots, such a bidder must register with auctioneer as a bulk bidder and put a refundable deposit down with auctioneer in the amount of $250,000.00 USD.  Should the bidder be awarded the bid this deposit shall be credited toward bidder's purchases. To become a bulk bidder and for full terms and conditions of bidding in bulk for lots 1,2,3,4 or 5; SEE BULK BIDDER TERMS AND CONDITION AT END OF PIECEMEAL BIDDER TERMS.

Sealed Bid Sale Event --  Online Only SEALED BID Sale PRIOR TO AUCTION for BULK PACKAGE LOTS 1-5 is due January 31st, 2018.  Bids to be awared by February 2nd, 2018.  If a Sealed Bid offer is accepted by Trustee, Auction may be modified, canceled or postponed.  See website www.schneiderind.com (under Go Green Sale information box) on February 5th, 2018 to verify if Auction is still scheduled and if any modifications have been made.

Auction Sale: If the Sealed Bid is unsuccessful to sell the complete facility and or real estate, an auction sale is scheduled to take place. The auction sale will also offer bulk lots #'s 1,2,3,4,5 (should they still be available after sealed bid sale). Auction sale will also be offered as piecemeal lots for the equipment starting with lot #6 and up (should they still be available after the sealed bid sale).  BULK AND PIECE-MEAL AUCTION ON FEBRUARY 22, 2018 AT 10:00 AM. Please check the website at www.schneiderind.com on or after 5pm Feb. 5th 2018 for an update on the results of the Sealed Bid Sale and any modification to the auction sale.  

Real Estate: Real Estate is to be offered at both Sealed Bid and Auction Sale (if not sold at Sealed Bid Sale)

PIECEMEAL BIDDER TERMS:
1. Only Cash, Checks, Wire Transfers or Cashiers Checks payable to Schneider Industries Inc. will be accepted. No equipment will be removed from the sale site until payment is received by Schneider Industries. NO EXCEPTIONS! 

2. While descriptions are believed to be correct, the seller's agent or the owners make no warranties or guarantees expressed or implied, as to the genuineness, authenticity of, or defect in any lot and will not be held responsible for advertising discrepancies or inaccuracies. Everything sold "AS IS" and "WHERE IS" except as expressly made in writing. No warranties are made as to the merchantability of any items or their fitness for any purpose.

3. Purchaser hereby agrees to defend, indemnify and hold harmless Seller its directors, officers, employees and other agents and representatives from and against any and all liabilities, judgments, claims, settlements, losses, 
damages, penalties, obligations and expenses, including attorney`s fees and expenses and other professional fees and expenses, incurred or suffered by such person arising from, by reason of, or in connection with any loss, damage or injury to person or property arising from, by reason of or in connection with the Goods sold hereunder. This indemnification shall survive delivery of the Goods to Purchaser and any subsequent sale or other transfer of the Goods to a third party.

4. It is the buyer's responsibility to secure all equipment to meet all applicable government safety standards in using or removing items purchased. All Import, Export, Taxes, Packaging, Rigging & Transportation fees are the buyer`s responsibility. Schneider Industries will provide our customary invoice. 

5. Sales Tax will be added to the purchase of all taxable items. Dealers who purchase for resale must file their resale permit numbers. If sales tax is not collected at the time of sale and is deemed needed to be paid at a later date, buyer agrees to pay all required taxes.

6. Purchaser does hereby indemnify and hold harmless auctioneer and seller from any and all damages, claims or liabilities from injuries to persons or property of any type whatsoever caused during the sale or by the removal of items purchased.

7. Seller's agent and Seller shall have no liability to the purchaser due to non-delivery of any item for any reason other than to return to the Purchaser the monies deposited for non-delivered items.

8. In the event the purchaser fails to pay the whole of the purchase within the time set forth by the auctioneers and/or fails to comply with any of the conditions or terms of sale, the seller may retain and/or recover the deposit specified as liquidated damages and, in addition thereto, items that are not paid for can be resold at public or private sale without further notice. Any deficiency resulting from such resale shall be paid to the auctioneers by the defaulting purchaser together with all charges, fees, and expenses incurred by such resale and enforcement of the obligation hereunder.

9. The Bidder becomes solely responsible for all items purchased by him immediately following his winning bid at the auction. Therefore, he is advised to further guard and insure his items at his own discretion.

10. Items must be removed from the premises within the removal time announced at the sale. No item can, on any account, be removed before termination of the sale. Removal shall be at the expense, risk and liability of the purchaser. Auctioneers shall not be responsible for items not removed within the time allowed. If equipment is not removed within specified removal time, purchaser shall be liable for any moving and storage costs incurred and, if not so removed, the items shall be deemed abandoned.

11. If any shortage exists on estimated counts, an adjustment will be made if claims are made at time of removal. No adjustment will be allowed after items are removed from the premises.

12. Technology Disclaimer: Auctioneer does not warrant that the functions, features or content contained in the website, including any third-party software, products or other materials used in connection with the website, will be timely, secure, uninterrupted or error-free, or that defects will be corrected.

13. If any dispute arises between two or more bidders, the seller's agent may or may not put the lot up again at once, and resell. 

14. The seller's agent, when acting as agent only, is not responsible for acts of its principals.

15. 15% Buyer's premium will be applied to all sales. Seller reserves the right to accept or reject any and all bids. A 3% Internet fee will be applied to all online purchases.

16. Some items may have minimums or reserves.  Therefore, bidder acknowledges they have been informed that Auctioneer may bid at the auction for its own account or on behalf of a third party or the seller.

17. By accepting a sale listing catalog and signing this form the buyer agrees to these terms and any announced terms at the sale.

18. Any non-real property asset purchased, whether in the Bulk Auction or the Live Auction, shall be removed from the Plant Real Property within 56 days of the close of the respective auction. All disassembly and removal of any Asset purchased shall be the sole responsibility of and at the sole cost of the buyer. To the extent that a buyer's purchased Asset is affixed to an Asset that the buyer did not purchase it shall be the purchasing parties' responsibility to separate the Assets.

BULK BIDDER TERMS & CONDITIONS (For bulk lots 1,2,3,4,5 only):

A bulk bidder must submit a $250,000 deposit with Auction Company and agree to the below terms. (Piecemeail bidders not required to put down bulk bidder deposit)

BULK BIDDER AUCTION TERMS FOR “GO GREEN” SEALED BID AND AUCTION SALE

In Phase 1 of the Auction, For the Sealed Bid, the Trustee through Schneider will market and auction the Assets in the following Bulk Lots:

Lot 1 All Assets (including the Plant and the Plant Real Property);

Lot 2 All Plant Real Property, including the building structure located thereto (but excluding all other equipment, and personal property);

Lot 3 All Plant equipment (excludes the Plant Real Property and the building structure located thereon);

Lot 4   Chipping equipment only; and

Lot 5  Drying, dust collecting and pelleting equipment only.

1. The Sealed Bid Sale shall be an auction via written, sealed bids on the Bulk Lots submitted to Schneider. Only written, sealed bids from Bulk Qualified Bidders may be considered. The initial bid deadline ("Initial Bid Deadline") is listed on www.schneiderind.com and is subject to change as posted on website.. Upon receipt of the initial bids, Auction Company and or it’s principles may contact bidding parties and reject the bid, accept the bid, or seek higher and better written bids for the Bulk Lots. Any subsequent bid for a Bulk Lot over the initial bid after the Initial Bid Deadline shall be in bid increments of $10,000 or as agreed by Auction Company and it’s principles. Within forty-eight hours of the Initial Bid Deadline, Schneider shall announce the winning bidders and backup bidders for each Bulk Lot (the "Bid Determination Date"). A buyer's premium of 15% will be added to the winning bid and shall be due and owing from the winning bidder as part of the purchase price owed by the buyer at closing. All sales are "AS IS WHERE IS WITH ALL FAULTS" without representation or warranty and due and payable upon Schneider or the Trustee announcing the winning bid. The sale of the Bulk Lots shall close and fund within seven days of the Bid Determination Date. All deposits, winning bids and buyer's premiums shall be paid to Schneider via cashier's check, money order, or wire.

 2. There may minimum bids on the Bulk Lots. Schneider Industries the agreement of it’s principles, may to reject bids on the Bulk Lots for any reason.

3. In order for an interested party to bid on the Sealed Bid Bulk Lots during the Sealed Bid Sale, such bidder must be a qualified bidder. In order to be a qualified bidder for the Bulk Auction (a "Bulk Qualified Bidder"), a bidder must tender a $250,000 deposit (the "Bulk Deposit") to Schneider on or before the Initial Bid Deadline. The Bulk Deposit shall be fully refundable to all bidders that are not winning bidders or backup bidders for a Bulk Lot. The Bulk Deposit of the winning bidder of one or more Bulk Lots shall be applied to the purchase price of the Bulk Lot. The Bulk Deposit of any backup bidder will be held pending closing of the winning bid. If the winning bid closes, the backup bidder's Bulk Deposit will be refunded. If the winning bidder does not close the sale of the Bulk Lot the winning bidder's Bulk Deposit shall be forfeited and constitute proceeds from the sale of Bulk Lot and the backup bidder and backup bid will be considered the winning bid and bidder and shall close the sale of the Bulk Lot. For the avoidance of doubt, if the winning bidder fails to close, the winning bidder's Bulk Deposit shall not be used to reduce the amount owed by the backup bidder. The Bulk Qualified Bidder requirements shall be noted in the solicitation materials distributed by Schneider and on Schneider's website. The Trustee, with the approval of CNB, may amend or waive the Bulk Qualified Bidder requirements in total or on a bidder by bidder basis.

 4. Any Assets not sold during the Phase 1 Sealed Bid Sale may be offered for sale in the Phase 2 Live Auction. The Live Auction may take place at the Plant Real Property and be simulcast, online to allow Live Qualified Bidders to bid on the Assets. The Auction Date shall be posted on www.schneiderind.com and is subject to change.

5. To the extent that the Assets are not sold during the Sealed Bid, the Debtor's Assets will be sold in individual lots at the Live Auction. Live Qualified Piece-meal Bidders will be allowed to bid on  the lots.  To the extent  that a Bulk Lot is not sold during the Bulk Auction, such Bulk Lot will be offered during the Live Auction; however, the winning bidder for the Bulk Lot and each individual lot will not be fully announced until the conclusion of the Live Auction. If there is a bidder at the Live Auction for a Bulk Lot, the Trustee (with the approval of CNB) may choose to accept the Live Auction bid for the Bulk Lot or accept the Live Auction bids for the smaller lots that make up the Bulk Lot. The Trustee with the Agreement of CNB may implement  minimum  bid requirements  on any lot.

6. All sales are "AS IS WHERE IS, WITH ALL FAULTS" without representation or warranty and are final, due, and payable upon auctioneer closing each individual sale. The winning bidder for each lot or Asset will have until close of business two business days to deliver the purchase price to Schneider. All winning bids for the Live Auction must be paid in cash, cashier check, money order, or wire directly to the Schneider. A buyer's premium of 15% will be added to each winning bid for purchasers that are physically at the Live Auction and 18% to each winning bid cast online; and such buyer premiums shall be due and owing from the winning bidder as part of the purchase price.

8. In order to bid in the Live Auction, a bidder must become a Live Qualified Bidder by registering with Schneider online via Schneider's website (www.schneiderind.com) or at the Plant Real Property on the Live Auction day. Schneider, with the consent of the Trustee and CNB reserve the right to decline approval of any prospective bidder to be a Live Qualified Bidder.

9. Any non-real property asset purchased, whether in the Bulk Auction or the Live Auction, shall be removed from the Plant Real Property within 56 days of the close of the respective auction. All disassembly and removal of any Asset purchased shall be the sole responsibility of and at the sole cost of the buyer. To the extent that a buyer's purchased Asset is affixed to an Asset that the buyer did not purchase it shall be the purchasing parties' responsibility to separate the Assets. For the avoidance of doubt, Schneider, the Trustee, the Debtor's bankruptcy estate, and CNB shall have no responsibility or obligation to remove or aid in the removal of purchased Assets from the Plant Real Property and shall not be liable for any damage or injury caused or incurred during such process.

10. All Bulk Bidders also Agree to Piecemeal Bidder Terms and Conditions.