Leased & Vacant Bank Branches
and Bank Sites
NJ, NC, FL & TX

15% DOWN
ALL PROPERTIES MUST CLOSE ON OR BEFORE MARCH 8, 2010

TERMS FOR LIVE AUCTION

Pay 15% down of the purchase price upon contract execution, of which $10,000 must be in the form of a bank cashier’s check made payable to yourself and endorsed over to the escrow agent with any balance in the form of a personal or business check. Under no circumstances will the down payment be less than $10,000 in certified funds. Balance will be paid in full at closing to be held on or before March 8, 2010. A copy of the sale contract may be reviewed prior to the auction by contacting the auctioneer. The successful high bidder will be required to sign a CONTRACT OF SALE immediately upon the conclusion of the auction with the deposit acting as a down payment (earnest money).  Contract of sale was prepared by seller's counsel and should be reviewed prior to the auction.

A 10% BUYER’S PREMIUM FOR THE LIVE AUCTION will be added to the high bid. Example: For each $10,000 of bid amount, there will be a 10% buyer’s premium of $1,000 added to arrive at the total purchase price of $11,000.

TERMS FOR ONLINE BIDDERS

All ONLINE bidders must be preregistered and are required to have a $5,000 deposit received in the "John Dixon & Associates Escrow Account." on or before Monday, February 15, 2010, 3 PM EST. This deposit can be by wire transfer or bank cashier's check. A second payment is required in the form of a personal check or wire transfer for the balance of the 15% deposit (along with an executed sales contract) by Friday, February 19, 2010. NO EXCEPTIONS!

An 11% BUYER’S PREMIUM FOR ONLINE BIDDERS will be added to the final bid and included in the total contract price. Auctioneer reserves the right to deny admittance to any person. Auctioneer may alter terms of sale through announcements on auction day.

SPECIAL NOTE: The properties are selling subject to easements, leases, restrictions, covenants, conditions, zoning and all other matters revealed by a current survey or an inspection of the property or contained in public records.

CLOSING: Balance of the purchase price is due on or before Monday, March 8, 2010.

AGENCY: John Dixon & Associates, auctioneer/broker, is acting exclusively as agent for the seller.

BROKER PARTICIPATION: A 2% commission of the high bid, before adding buyer’s premium, will be paid to any qualified licensed real estate broker whose prospect is the successful bidder at the auction and closes on the property. To qualify for a commission, the broker must first register the prospect by mail, deliver by hand or fax the prospect’s name and address on JDA’s broker registration form. The registration must include the signature of the prospective purchaser, the signature of the broker and the broker’s real estate license number. The registration must be received at 200 Cobb Parkway North, Suite 120, Marietta, GA 30062-3585, Attention: Bob Green, no later than 5:00 p.m. on the day prior to each auction. Broker registration may be faxed to 770.425.4413. UNDER NO CIRCUMSTANCES WILL BROKER REGISTRATION BE ALLOWED ON THE DAY OF THE AUCTION. In addition, to qualify for a commission, the broker must attend the auction with the prospect. Commissions will be paid only if property closes. A commission on a property will be paid only to the first broker registering a prospect. A BROKER CANNOT ACT AS A PRINCIPAL AND BROKER ON THE SAME TRANSACTION. Contact auctioneer for a broker participation form.

DISCLAIMER: Property is selling “as-is, where-is” with all faults. The only representation and warranties made are those contained in the Contract of Sale. Seller reserves the right to add or delete property, reject any bid and/or cancel the sale. Properties will be conveyed by Special Limited Warranty Deed. Information contained herein was obtained by sources deemed reliable. Although every precaution has been taken to ensure accuracy, neither the seller, John Dixon & Associates nor their agents will be responsible for any errors or omissions herein. Bidders should carefully verify all information and make their own decisions as to the accuracy thereof before submitting their bid. The seller and their agents reserve the right to place bids on the property up to seller’s reserve, if desired, at their sole discretion. The terms of the Contract of Sale are controlling in the event of any perceived inconsistency between its terms and any statements herein or other advertisement. Announcements made at the auction will take precedence over written matters.

AS-IS, WHERE-IS: All items of personal property are sold “as-is, where-is” with no warranties or representations, written or implied, by auctioneer. Personal property will be conveyed by Quit Claim Deed.

I have read and agree to the following terms and conditions, should I be the high bidder.

1.  I hereby agree to sign the contract of sale immediately upon the conclusion of bidding and at the same time pay $10,000 in the form of a bank cashier's check made payable to myself and endorsed to escrow holder after completion of auction.  A second payment is required in the form of a personal check or wire transfer for the balance of the 15% deposit.

2.  I recognize that this is an auction and is not subject to an attorney review period.  I will review the contract of sale prepared by seller’s counsel prior to the auction.

3.  I agree to review the property information package prior to attending auction.

4.  I have read the terms of this sale posted on the premises, as well as all printed and online information. Auctioneer may alter terms of sale through announcements on auction day.

5.  A buyer’s premium of 11% of purchase price will be added to ONLINE bid price and become part of the contract. The successful high bidder will be required to sign a contract of sale immediately upon the conclusion of the auction.

6.  If any check, given in payment that is signed by me as maker or endorser, is not honored for any reason, I agree to pay all reasonable attorney’s fees, together with all costs of suit in the event one is instituted, if such check is placed for collection.