All bidders residing outside of the United States or Canada are required to submit via wire transfer a qualifying deposit of 25% of their total expected purchases. Deposit must be received and confirmed prior to start of auction, and can take up to 48 hours to clear. Please register at least 2 business days prior to sale to allow sufficient time to process deposit. Please contact Accounting at Maynards Industries for wire transfer information.
Surplus Assets of Pace Industries - an Elite Die Cast Facility
Auciton Date & Time: Thursday, September 24, 2020, 11:00 AM US/Eastern
Location: 3737 Lexington Ave N St. Paul , MN , 55126
Preview: Tuesday & Wednesday, September 22nd & 23rd, from 9am to 4pm each day or by appointment
Removal: Removal by October 2nd for small hand carry items, October 16th for major machinery
Buhler Die Cast Machines, Trim Presses, CNC Machines, Robo Drills, Denison Multipresses, C-Frame presses, Air Compressors, Bridge Cranes, Forklifts, Misc plant support, Transformers, Electrical Switches, Circuit Boards, Motors, Spare parts, etc
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Frequently Asked Questions
MAYNARDS INDUSTRIES USA, LLC, HEREINAFTER REFERRED TO AS MAYNARDS, AUCTIONEER, SELLER OR OWNER.
BIDDER HEREINAFTER REFERRED TO AS BIDDER, REGISTERED BIDDER, PURCHASER, UNDERSIGNED AND BUYER.
THIS AUCTION WILL BE CONDUCTED PER THE TERMS AND CONDITIONS BELOW AND SUPERSEDED BY ALL OTHER PROVISIONS, AMENDMENTS, MODIFICATIONS AND ANNOUNCEMENTS ADDED BY AUCTIONEER AT ANYTIME PRIOR TO OR DURING THE AUCTION SALE AND OR AS POSTED ON WWW.MAYNARDS.COM. BIDDER HEREBY AGREES AND ACKNOWLEDGES AUCTIONEER IS NOT RESPONSIBLE OR LIABLE FOR BIDDERS ACKNOWLEDGMENT OF ANY SUCH ANNOUNCEMENTS AND BIDDER ASSUMES ALL RISKS AND LIABILITIES BELOW ONCE IT BIDS.
AUCTIONEER SHALL HAVE THE RIGHT TO MAKE IMAGE AND AUDIO VIDEO RECORDINGS OF THE AUCTION, TO USE SAID RECORDINGS AND IF DEEMED APPROPRIATE IN AUCTIONEERS SOLE DISCRETION TO MAKE THIS PUBLIC. BUYERS HEREBY GIVE THEIR PERMISSION AND CONSENT BY PARTICIPATING IN THE AUCTION.
Auctioneer at its sole discretion may deny entry, registration or bidding at any time to any person or entity. Bidder paddles and invoices are nontransferable. All bids made by the holder of the bid paddle will be the responsibility of the Registered Bidder, Bidder and the Undersigned. All sales are final and there are no refunds, returns, credits, exchanges or rebids once the Auctioneer knocks down the item or declares it sold to the Bidder.
The Bidder, Registered Bidder, Purchaser, Undersigned and Buyer agree a successful bid at auction constitutes a legally binding contract of sale and this contract is binding upon the Registered Bidders Company, the Bidder, Purchaser, Undersigned and Buyer personally for all amounts due and owing at the conclusion of bidding and time of invoice.
BUYER BEWARE AND CAVEAT EMPTOR.
“THE BUYER ALONE IS RESPONSIBLE FOR CHECKING THE QUALITY AND SUITABILITY OF GOODS BEFORE A BID IS MADE”.
Auctioneer makes no representations, warranties, promises, covenants or guarantees, expressed or implied, as to defects in or the completeness or accuracy of the description in any advertising of any item(s) being auctioned and is not responsible for any advertising discrepancies, descriptions, nomenclature or inaccuracies of any kind including but not limited to descriptions, age, year of manufacturer, model, make or otherwise. There is to be no reliance on information provided by Auctioneer. All descriptions, photographs, slides shows, advertising, lot catalogs, or any other source of information (oral or written) concerning the Assets provided by Auctioneer or otherwise obtained by a Bidder from a source other than Auctioneer (collectively, the “Information”) are subject to additions deletions, changes, and modifications at any time prior to purchase and sale. Each Bidder expressly acknowledges and agrees that no sale of any asset may be invalidated by a Bidder because of an error, inaccuracy, or other fault in the Information. Each Bidder hereby expressly acknowledges and agrees that the Information has been prepared for informational purposes only and shall not and may not be relied upon by any Bidder for any purpose, including (without limitation) accuracy or completeness. By bidding, a Bidder represents, warrants, covenants and agrees that each such Bidder is relying upon each such Bidder’s own investigation, inspection, research, and analysis of the asset(s) for which a bid has been submitted and is not in any way relying upon the Information provided by auctioneer or any other third party.
ALL ITEMS ARE SOLD ON “AS IS, WHERE IS” BASIS AND WITH ALL FAULTS WITHOUT EXCEPTION AND WITH REMOVAL AT BUYERS SOLE RISK AND EXPENSE. THE AUCTIONEER AND OWNER MAKE NO REPRESENTATIONS, WARRANTIES, PROMISES, COVENANTS OR GUARANTEES OF ANY KIND, EXPRESSED OR IMPLIED, AS TO THE NATURE, QUALITY, DURABILITY, CAPABILITY, FUNCTION, PERFORMANCE, VALUE OR CONDITION OF THE ITEM(S) BEING AUCTIONED OR ITS (THEIR) SUITABILITY FOR ANY USE. THE AUCTIONEER AND OWNER EXPRESSLY AND SPECIFICALLY DISCLAIM, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.
The Undersigned hereby waives, releases, remises, acquits and forever discharges the Auctioneer, Owner and their respective employees, agents, or any other person acting on behalf of the Auctioneer or Owner, of and from, and shall indemnify and hold the Auctioneer, Owner and their respective employees, agents, or other persons acting on behalf of the Auctioneer or Owner and against any claims, actions, causes of action, demands, rights, damages, costs, expenses or compensation whatsoever, direct or indirect, known or unknown, foreseen or unforeseen, which the undersigned now has or which may arise in the future on the account of or in any way growing out of or connected with any defects, latent or otherwise, or the physical condition of any item(s) purchased or any law or regulation applicable thereto. The undersigned specifically waives the provisions of California Civil Code section 1542, which provides: "A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his settlement with the debtor."
The Auctioneer encourages the Undersigned to avail itself of the opportunity to make inspections prior to bidding and/or purchasing. The Undersigned hereby acknowledges that it has inspected or voluntarily waived said inspection of all of the items upon which it will be bidding and/or does purchase. Once the Auctioneer knocks down the item or declares it sold to the Bidder, there are no credits, returns, exchanges, refunds or rebidding unless at the Auctioneers sole discretion and such request for rebid is made directly to the Auctioneer and within no more than 5 minutes from the Bidder after the item has been sold. No claim will be considered for allowance or rescission of any sales based upon failure of the property to correspond with any standard expected.
In order to participate in the auction, all Bidders must provide Auctioneer a 25% deposit, in cash, cashier’s check or company check accompanied by a bank letter of guarantee of unqualified payment to Auctioneer, or a wire transfer (with a wire transfer fee included) of your maximum expected spending. The final payment in full of Bidders invoice must be received by Auctioneer within the first banking day 24 hours after the auction or the Buyer will be in default of this Contract. The Auctioneer will charge all Bidders a taxable surcharge buyer's premium on its invoice. The Undersigned shall provide proof satisfactory to the Auctioneer of its entitlement to claim exemption from sales tax, which proof must be representative of the same industry as the item(s) that are purchased. In the absence of proof satisfactory to the Auctioneer, the Buyer shall pay all taxes. Neither Auctioneer nor Owner will be responsible for any Department of Motor Vehicle fees, tax, registration, licensing, penalties, smog certificate or fees. Certain vehicles as announced and/or noted in the auction catalog or on Buyers invoice will be sold “AS IS” with a Bill of Sale only, Each titled item will be charged a $75 title transfer fee. If available by Auctioneer, titles will be sent to Buyers approximately 7-10 business days after receipt of payment. There will be no refunds if Auctioneer is unable to produce a title. Sales tax on Motor Vehicles is the responsibility of the Buyer to be remitted to its appropriate states Department of Motor Vehicles. All vehicles are sold “AS IS, WHERE IS, WITH NO WARRANTIES EXPRESSED OR IMPLIED”. It is the Buyer’s responsibility to inspect the vehicle to verify accurate description, model, year, mileage, condition and any and all details pertaining to the vehicle. Auctioneer and Owner are not responsible for any inaccuracies of any kind. Credit cards are not accepted.
Auction sales and items are subject to cancelation without prior notice.
The Auctioneer reserves the right to augment this auction with items from additional sellers. These items may be interspersed and not specially identified throughout the auction sale.
The Auctioneer shall regulate all matters relating to the conduct of the auction and the Auctioneer’s decisions shall be final and binding on all bidders.
The Auctioneer reserves the right to group, regroup, reduce, add to or delete lots as well as accept or reject any or all bids at the Auctioneer's sole and absolute discretion.
The Auctioneer reserves the right to offer any or all of the items in bulk at any time during the auction at the Auctioneer’s sole and absolute discretion.
The Auctioneer shall determine the bidding increments and the Auctioneer may bid on any item(s) to protect its financial interest or indebtedness at its sole and absolute discretion.
Immediately upon the Auctioneer announcing sold or knockdown and the Auctioneer has declared the Undersigned to be the Purchaser, all items comprising of the lot become the sole and absolute responsibility of the Undersigned and the Undersigned shall thereupon and thereafter assume all risk of loss (including, but not restricted to loss by way of theft or damage) and liability relating to such items. The Undersigned is advised to prearrange insurance coverage for its purchases as there will be no refunds for missing, lost, damaged or stolen items unless and only at the Auctioneers sole discretion. The Auctioneer and Owner shall in no event be liable to the Purchaser for non-delivery of any item(s) for any reason except for the return to the Buyer of the deposit or other sums paid for such non delivered items. This non-delivery period extends from the knock down until the time allotted for the removal process concludes. In no event will the Auctioneer’s or Owner’s liability to the Undersigned exceed the amount actually paid by the Undersigned. THE UNDERSIGNED HEREBY ACKNOWLEDGES AND AGREES THAT THE AUCTIONEER AND OWNER SHALL NOT BE LIABLE FOR SPECIAL, CONSEQUENTIAL OR INCIDENTAL DAMAGES.
Title to and possession of the item(s) shall not pass to the Undersigned until the Auctioneer has received payment for all items duly purchased in full. All items and the entirety of the Purchasers invoice require payment in full prior to Auctioneer releasing any items. If all the items are not paid in full by Purchaser for any reason, and Purchaser has provided Auctioneer any monetary consideration, Auctioneer will retain all the items and the monetary consideration paid by Purchaser to mitigate Auctioneers financial damages caused by Purchaser. If after the subsequent mitigation amounts (if any) received by Auctioneer exceed the amount of the Purchasers invoice and below, the Auctioneer will refund such amounts to the Purchaser once determined by Auctioneer in its sole discretion. The Purchaser hereby agrees items purchased at this auction will be invoiced in totality, although in some cases separately priced on the invoice, the total amount due Auctioneer of the Purchasers invoice is deemed a single contract if in the event of a legal dispute.
If for any reason the Undersigned fails to pay the full amount of its invoice within the first banking day 24 hours after the auction, and/or fails to remove all of its items on or before the date posted on Purchasers invoice, and/or fails to comply with any other terms and conditions of this Contract, all the items on the Purchasers invoice will be considered abandoned and the Auctioneer and/or Owner in their sole discretion and without further notice to Purchaser may remove, dispose of, scrap, resell at public or private sale any or all the items and the Undersigned hereby agrees to pay to Auctioneer and/or Owner, as applicable, any monetary mitigation deficiency and costs as a result thereof, including all removal, rent, lay and hold over fees. The bidder understands and acknowledges that there is sufficient consideration by both parties to perform, and that if payment in full is not made within the specific time outlined in the contract, the bidder is agreeing to be bound by a “consent judgment” and is violation and in default of contract. By signing below you are consenting to the terms of a judgment entered against you and are waiving your rights to any court hearing. In addition, relating to such disposition together with all charges, including attorney, court and legal fees, interest and any and all other expenses in connection with such disposition, plus a $500.00 per diem administrative fee per item until such item(s) is (are) removed. The Undersigned agrees that the Auctioneer may retain all deposits previously received and apply such deposits to any such deficiency without further notice to Purchaser. Purchaser hereby agrees that “time is of the essence” in regards to this Contract regarding payment of its invoice and removal of its items. For purposes of clarity, Purchaser further acknowledges and agrees Auctioneer and/or Owner will be monetarily damaged for the subsequent disposal of any item(s) for any reason and that the Purchaser will be responsible to pay Auctioneer and/or Owner for all of the above and any other such monetary mitigation deficits, damages known and unknown, and any and all other cost of Auctioneer and/or Owner to collect and enforce this Contract. Any monetary deficiencies to the Auctioneer and/or Owner become the debt of the Undersigned.
This Agreement shall be construed and interpreted according to the laws of the State of California. The Bidder further agrees to have Burbank California as the Forum City & State in the event any lawsuit is initiated by either party. If any action based on the performance, breach or interpretation of this Agreement is brought, the prevailing party in such action (as determined by the court or other body having jurisdiction) shall be entitled to recover from the losing party all actual costs and expenses of litigation or arbitration, including attorney's fees, court costs, costs of investigation, and other costs related to such proceeding.
AUCTIONEER DOES NOT WARRANT THAT THE FUNCTIONS, FEATURES OR CONTENT CONTAINED IN THE ONLINE OR WEBCAST BIDDING PLATFORM OR SOFTWARE, INCLUDING ANY THIRD-PARTY SOFTWARE, PRODUCTS OR OTHER MATERIALS USED IN CONNECTION WITH THE WEBSITE OR BIDDING WILL BE TIMELY, SECURE, UNINTERRUPTED OR ERROR-FREE, OR THAT DEFECTS WILL BE CORRECTED. AUCTIONEER RESERVES THE RIGHT TO ACCEPT AND OR REJECT AND OR REMOVE ANY ELECTRONIC BIDS FOR ANY REASON AT ANY TIME IN ITS ABSOLUTE SOLE DISCRETION. BIDDER AGREES ALL OF ITS ELECTRONIC BIDS ARE BINDING REGARDLESS OF ORDER AND OR TIME IN WHICH THEY ARE ACCEPTED OR REJECTED.
TERMS AND CONDITIONS FOR DISCONNECT AND REMOVAL:
As a courtesy only, Auctioneer may provide contact information for riggers, machinery movers or other service providers. Auctioneer is not affiliated with, nor shall Auctioneer be responsible or liable for the action of, any rigger, machinery mover or other service provider utilized by a Purchaser or Purchaser Representatives. Auctioneer may require the use of one or more specific riggers, machinery movers or other service providers at the premises at which the assets are located. Such a requirement does not constitute a guarantee or endorsement by Auctioneer.
All electrical disconnect, liquid removal, rigging, loading, broom cleaning, trash & debris removal, floor stud removal and transportation are the sole and absolute responsibility of the Undersigned. The undersigned agrees to remove its purchases in full, with no abandonment privileges from the premises on or before the date on the Buyers invoice.
No item(s), no matter how small, may be removed while the auction is in progress. Representatives of the Auctioneer at the Auctioneer’s sole discretion may stay one hour after the auction is completed for the removal of small items. All small subject to disappear items must be removed by 4:00 PM on the day following the auction.
The Undersigned must present the Auctioneer’s personnel with proof of valid workers compensation insurance and a commercial general liability insurance certificate in a minimum amount of $2,000,000.00 combined single limit per occurrence coverage naming the Auctioneer, the Seller, Owner and the Landlord and/or Property Owner as additional insured.
If available at Auctioneers sole and absolute discretion, bridge cranes and hoist may be used by the Undersigned if crane insurance is included on the above certificate and only with the written permission of the crane owner.
Should any pits, floor bolts or hazards of any type exist after removal of equipment, it is the responsibility of the Undersigned, at its cost, to reasonably safe guard these areas using generally accepted safety practices, such as safety tapes, pipes or bars welded in place or suitable safety barriers acceptable to the Auctioneer. All floor bolts and/or anchoring fasteners are to be cut flush to the floor and the area left broom clean and all debris removed. It is the responsibility of the Undersigned to be sure that the power to the item(s) is off and then to safely disconnect all electrical wiring and utility piping from the item(s) and to cap at the first electrical or air junction of the item(s).
Item(s) are to be staged for loading in the area assigned by the Auctioneer's personnel.
It is the Undersigned's responsibility to secure all safety equipment to meet all applicable government safety standards in using or removing any items purchased. Certain items may contain residual chemicals and/or hazardous materials. The Undersigned hereby agrees to indemnify and hold harmless the Auctioneer, Owner and the Landlord and/or Property Owner from any and all damages, claims or liabilities from any injuries to persons or property of any type whatsoever caused by the Undersigned, its agents, employees or contractors during the sale or during the removal, use or operation of the purchased item(s). Any hydraulic fluid removal and/or oil leaks are the Undersigned's responsibility to remove and clean up. The Undersigned must take full responsibility for compliance with applicable environmental laws and exercise all reasonable care to ensure that there is no release to the environment of any hazardous wastes or substances as defined in applicable Federal, State and Local Statues, Regulations, Rules or Ordinances.
No trucks are to be left running in an enclosed building.
The Auctioneer and Owner are not liable for personal belongings left on premises.
Any surface or structural damage to the premises including but not limited to the walls, ceilings, floors, overhead doors, gates and/or any other item(s), etc. will be the Undersigned's sole responsibility. The Undersigned will not be permitted to leave with its purchases until repairs are made.
Theft will not be tolerated and Auctioneer and Owner reserve the right to inspect all trucks, toolboxes and rigger cases, etc. Instances of theft will result in immediate termination of removal privileges and full prosecution by law. All quantities must be checked prior to removal, as adjustments will not be made thereafter.
These terms and conditions together with any amendments or modifications, expressly made by the Auctioneer at the time of the auction constitute all the terms and conditions with respect to the sale of items at this auction. There are no representations, warranties, terms, conditions, undertakings or collateral agreements accept as herein-above provided. Owner is a third-party beneficiary to these terms and conditions, is entitled to the rights and benefits hereunder, and may enforce the provisions hereof as if it were a party hereto.
I acknowledge that I have provided Maynards Industries USA, LLC. a signed check for which I am the authorized signatory for all purposes, without restriction, sufficient to pay this negotiable instrument upon demand. I authorized Maynards to obtain my financial information from any source and complete the check as necessary for the amount of my invoice at the auction to be presented for payment. I agree to pay all cost of collections including attorney’s fees, to pay interest at the rate of 18%, unless prohibited by law, and in such case at the highest amount permitted by law from the date of issuance of this check if dishonored by a financial institution, to waive any requirement of presentment, to the exclusive jurisdiction of the executed Auction Bidders Agreement for any dispute relating to this instrument. A credit instrument is identical to a personal check. Willfully drawing or passing a credit instrument knowing there are insufficient funds in an account upon which may be drawn, or with the intent to defraud, is a crime which may result in criminal prosecution.
I PERSONALLY AND COMPANY, CORPORATION, BIDDER, REGISTERED BIDDER, PURCHASER, UNDERSIGNED AND BUYER herby expressly represents, warrants, covenants and agree that each Bidder have received, read, fully understand, accept and hereby acknowledge and agree to be legally bound by all of the Terms & Conditions of this Contract as stated above and shall be bound by and comply in all respects with and shall be liable for breaches of the forgoing terms and conditions and further hereby agree to abide by any and all posted notices and announcements made hereafter pertaining to the terms and conditions of this auction sale whether present or not by my signature below.