Tranzon Auctions

All items, property or product offered for sale ("Items", "Property", "Product") are offered by Tranzon Asset Strategies (“Agent”), as an agent of the Trustee ("Seller") in the following matters:  United States Bankruptcy Court, Eastern District of California, Sacramento Division, Case #19-27849 in the matter of Cool Roofing Systems, Inc., subject to the following general terms of sale (“General Terms of Sale”), which, combined with any supplemental or revised terms posted in materials, on the web or as announced by Agent at the time of sale (“Sale Specific Terms”), make-up the complete and entire Terms of Sale (“Terms of Sale”) that govern any sale by Agent to a Buyer.  References to “Landlord(s)” throughout these terms shall be defined to include the property owners of each sale location upon which Items are located (“Sale Site”).

In order to qualify to bid, Buyer must provide Agent with a valid credit card for verification purposes.

Unless posted otherwise in the Sale Specific Terms, Payment of the Balance Due (“Final Payment”) is required by 12:00 noon PT on the day following the Sale.

Final payments must be cash, cashier's check or wire transfer. All Deposits and payments must be made in U.S. Dollars.  IRS regulations require us to report all cash payments, as defined by the IRS, exceeding $10,000 from any one purchaser for one transaction or two or more related transactions. 

A 13% Buyer's Premium will be added to the price of each item purchased.

When required by law, Agent shall collect and Buyer shall pay all sales/use taxes or other applicable taxes, which will be added to the purchase price, including the Buyers’ premium, on all purchased items.  VEHICLES: AGENT WILL NOT COLLECT SALES TAX ON VEHICLES - BUYER WILL BE RESPONSIBLE FOR PAYMENT OF ALL SALES TAX TO THE APPROPRIATE TAXING AUTHORITY. 

All costs associated with registration or transfer of title (including past-due registration fees and penalties) are the responsibility of purchaser.  The buyer must register the vehicle after purchasing it within time frames set forth by the Department of Motor Vehicles. Buyer assumes full responsibility for transfer and ownership.  All emission related repairs are the responsibility of the buyer.  Buyers assume responsibility for verifying any past due registration fees.  

Any requests for additional DMV paperwork must be made to the auctioneer within 30 days; following that time, all funds will be released to the Court/Seller and we will be unable to issue a refund FOR ANY REASON.

Full removal must be completed within 48 hours.   All Items purchased must be paid in full before Items will be released from the premises.   Buyer is solely responsible to pick up its purchased Items within the timeframes provided. 

In no event shall Agent’s liability to Buyer exceed the purchase price actually paid for an individual item or lot. A Buyer’s claim shall be limited to the amount paid for the merchandise, and shall not extend to any obligation, risk, liability, right, claim, remedy for loss of use, revenue or profit, liability of Buyer to any third party, personal injury, or any other direct, indirect, incidental or consequential damages.

Payment. Full payment is due within 24 hours (unless specified otherwise for a specific sale). Payments and deposits will only be accepted in the form of cash, cashiers check, wire transfer or pre-approved check accompanied by a bank letter of guarantee (Bank letters must contain specific information which may be obtained from auction personnel). All transactions must be paid in U.S. dollars.

Buyer’s Premium.  A Buyer’s premium of 13% of the bid price will be added to the price of each item purchased.  

Taxes.  When required by law, Auctioneer shall collect and Buyer shall pay all sales/use taxes or other applicable taxes, which will be added to the purchase price, including the buyers’ premium, on all purchased items.  At the time of payment, dealers who purchase for resale must file with Auctioneer their resale permit numbers and complete a resale certificate, without which all applicable taxes will be collected by Auctioneer at the time of purchase.  However, sales/use taxes will be refunded in full to qualified Buyers at the time such documentation is provided to Auctioneer.  Buyers purchasing for immediate shipment out-of-state will not be required to pay sales tax if a valid bill of lading is provided to Auctioneer.

Absence of Warranties.  The condition of the items being offered varies.  The Buyer understands and agrees: (1) that any description, sample or photograph of the items given or furnished by Auctioneer, its employees, agents or representatives, is solely for identification, and does not create any warranty expressed or implied, that the item actually conforms to such description, sample or photograph, (2) that Buyer or agent on Buyer’s behalf has inspected or has had the opportunity to inspect, all of the items upon which Buyer will be bidding and/or does purchase, 3) that all items are purchased and accepted by Buyer “AS IS”, “WHERE IS” and “WITH ALL FAULTS”.  AUCTIONEER MAKES NO WARRANTIES OR GUARANTEES WHATSOEVER WHETHER WRITTEN, ORAL OR IMPLIED AS TO ACCURACY, GENUINESS, ATTRIBUTION, ORIGIN, RARITY, IMPORTANCE, AUTHENTICITY, QUALITY, QUANTITY, CONDITION, USEABILITY, SALEABILITY, WEIGHT, MEASUREMENT, YEAR, MODEL, MECHANICAL CONDITION, PERFORMANCE, OR OTHER SPECIFICATIONS, INCLUDING ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR WARRANTY AGAINST PATENT, TRADEMARK, COPYRIGHT OR TRADE SECRET INFRINGEMENT, (4) in the event there are manufacturer warranties in effect for the item purchased, Buyer must make all claims thereunder directly with the provider of the warranty. No statement or statements of any other paragraph herein shall be construed to in any way contradict the provisions of this paragraph.

Photo Representations.  In certain cases, photos may be used to represent similar, but not identical items.  In the event of a discrepancy, descriptions, not photos, will be the basis for confirming Buyer’s purchases.

Appropriate Rights and Clearances Not Included. All sale items sold by Auctioneer are sold without any corresponding grant of rights or clearance from any third parties.  Since some of the sale items may, if commercially used, infringe third party rights, Buyer acknowledges and agrees that it shall be solely responsible for acquiring all appropriate rights and clearances from all third parties.  Such rights and clearances include, but are not limited to, third party copyright, trademark, patent, trade secret, and privacy rights.

Bidding.  Auctioneer reserves the right to group, reduce, add to or delete lots.  In the event there is a dispute between two or more claims of entitlement as the successful bidder, Auctioneer reserves to determine the successful bidder or re-auction the item in dispute, at its sole discretion.  Auctioneer reserves the right to hold all bulk bids in abeyance and at the conclusion of the auction or after the offering of a specific item, to accept either the bulk bid or the aggregate of the individual bids received during the auction, which ever is higher.  Auctioneer reserves the right to reject any bid which is only a fractional advance over the preceding bid or which is not commensurate with the value of the lot.  Some of the items offered may be subject to a reserve price (minimum allowable selling price).

All Sales are Final.  A successful bid at auction, whether live or online, constitutes a legally binding contract of sale.  All sales are final.  There will be no refunds, returns or exchanges.

Buyer’s Responsibility. Upon the Auctioneer's declaration of an item as "Sold", title to the offered lot shall pass to the Buyer, subject to Buyer's full payment, who shall forthwith assume full risk and responsibility for the lot. Buyer is solely responsible to provide any personnel, equipment or material needed to pick up items purchased and shall assume all responsibility for the removal of any item purchased at the sale and any and all risks associated with such removal including, without limitation, the responsibility for providing licensed, qualified and bonded professionals to ensure proper water, gas and/or power disconnection.

Removal of Items Purchased.  Checkout will be scheduled by appointment only. Buyer must pay in full before an appointment can be scheduled.  Buyer is solely responsible to pickup its purchases within the timeframes provided.  Buyer must provide its invoice at time of pickup. 

Failure to Remove Purchases.  All items shall be paid for and picked up in accordance with the deadlines provided by Auctioneer.  If not, the items purchased shall be deemed abandoned and Buyer will lose any right, title or interest Buyer may have acquired and the items shall revert and repossess to Auctioneer without further notice to Buyer.

Non-Delivery.  Until such time as purchased items are removed from the premises by the Buyer, Auctioneer shall have the right to cancel or void the sale of any such items purchased by Buyer.  Auctioneer shall have no liability to Buyer due to the non-delivery of any purchased item other than the return of Buyer’s deposit for a canceled or voided sale item.  No claim of any kind for purchased items, whether or not based on negligence, shall be greater in amount than the purchase price paid by Buyer. 

Non-Compliance.  In the event Buyer fails to pay the entire purchase price by the payment deadline, fails to pickup its purchases by the pickup deadline, and/or fails to comply with any of the conditions of these Terms of Sale, Auctioneer may retain and/or recover, upon demand, from Buyer the required Deposit per Paragraph 1 as liquidated damages for such failure.  In addition thereto, Auctioneer may resell Buyer's items at a public or private sale without further notice to Buyer.  Any difference between the bid price for an item by the defaulting Buyer and the price received by Auctioneer at a resale shall be paid to Auctioneer by the defaulting Buyer. Auctioneer shall also be entitled to any costs associated with the removal, storage and reselling of Buyer's items, and any other charges, fees, and expenses incurred as a result of Buyer's failure, including all attorney fees and costs incurred by Auctioneer to enforce Buyer’s obligations hereunder.  In addition, a defaulting Buyer shall be deemed to have granted Auctioneer a security interest in the item which Auctioneer shall retain as collateral security for Buyer’s obligation to Auctioneer.

Acts of Others.  Persons in attendance during inspection, sale or removal of merchandise assume all risks of damage or loss to persons, property, or merchandise and shall exercise proper precautions at all times for the protection of persons and property and shall comply with all safety and health requirements as directed by Auctioneer, Seller, Property Owner and local, state and federal regulations. Neither Auctioneer, Seller, Property Owner, or their agents, their employees or representatives shall be liable by reason of any defect in or about the condition of the premises on which the auction is held. Buyer specifically releases Auctioneer, Seller, Property Owner and their agents and representatives from all liability thereof.

Limits of Liability.  In no event shall Auctioneer’s liability to Buyer exceed the purchase price actually paid for an individual item or lot.  A Buyer’s claim shall be limited to the amount paid for the merchandise, and shall not extend to any obligation, risk, liability, right, claim, remedy for loss of use, revenue or profit, liability of Buyer to any third party, personal injury, or any other direct, indirect, incidental or consequential damages. Buyer further acknowledges that each item it purchases at the sale represents a separate transaction, and that no one transaction shall be conditioned upon another transaction.  Buyer hereby holds Auctioneer harmless from: (1) the acts or omission of any party who provided any items to Auctioneer for sale, (2) the acts or omission of the owner or Lessor of the auction site or the site where the auctioned items are stored,  (3) any claims Buyer may have against Auctioneer, Auctioneer’s client(s) or any former owner of the property being sold, (4) Buyer’s failure in any way to properly inspect items and/or fulfill its obligations per the terms and conditions of the sale, as indicated within this document or as announced by Auctioneer at the time of sale. In the event Buyer provides a deposit or payment using a Credit Card, Buyer acknowledges that it is purchasing under the As-Is, Where-Is terms of the auction and that Buyer shall waive all rights of charge back based on any claims of misrepresentation, non-delivery or non-performance.

Right of Removal.  Auctioneer reserves the right to remove any person from the auction site and to refuse that individual’s bid or proxy bid.  In such event, any outstanding deposit will be immediately returned.

 Indemnification.  Buyer shall indemnify, hold harmless and defend Auctioneer and Seller from and against any and all losses, damages, liabilities and claims, including attorney fees, costs and expenses arising out of based upon or resulting from: (1) failure to secure all safety equipment and to meet all applicable government safety standards in removing items purchased or used by Buyer, (2) failure to comply with safety instructions issued to Buyer from Auctioneer, (3) any act or omission of Auctioneer, owners, or their respective agents, representatives or employees, relating to or affecting the items bid on or purchased by Buyer, (4) the claim of any third party claiming or challenging title to any items purchased by Buyer or claiming infringement of any proprietary interest, (5) the claim of any person resulting from Auctioneer offering for sale or selling the items purchased by Buyer, (6) any injury to Buyer or any other person or property of any type whatsoever caused during the inspection, dismantling, removing or transporting of items purchased by Buyer.

Hazardous Materials.  Buyer agrees that in the event any purchased items contain environmental hazards, toxic waste or other type of hazardous material in any form whatsoever, Buyer shall provide evidence that Buyer or its representatives are licensed for such removal and shall comply with all applicable local, state and/or federal rules, laws and regulations.  Auctioneer, its agents or representatives shall not be responsible for its containment, storage or removal.  Buyer shall indemnify, defend and hold Auctioneer harmless with respect to all costs, expenses, liabilities, damages or claims, including attorneys’ fees, asserted by any person, entity or governmental agency or against Auctioneer directly or indirectly relating in any manner to any hazardous or toxic materials which may be regulated under applicable laws, rules or regulations and which relate in any way to the dismantling and removal of any purchased item.  Auctioneer shall in no event be obligated to sell any item which contains any hazardous materials or to incur any costs or expenses relating in any manner, either directly or indirectly to any hazardous materials.  Buyer shall be responsible for any and all remediation costs relating to the dismantling and removal of any purchased item containing hazardous materials.

Bidder’s Paddle.  The bidder’s paddle is nontransferable.  All bids made by the bidder number registrant will be the responsibility of Buyer. 

Governing Law.  The validity, construction and performance of these Terms of Sale shall be governed by the substantive law of the United States Bankruptcy Court.  The prevailing party shall be entitled to reimbursement by the losing party of all statutory and non-statutory costs and expenses, including, but not limited to, all of its attorney fees.

Severability.  If any provision of these Terms of Sale is deemed to be illegal, invalid, or unenforceable, the legality, validity, and enforceability of the remaining parts shall not be affected.