South Street, 305 Gas Station

Convenience Store with Gas Station
305 South Street, Bennington, VT
Auction: June 27, 10:00am ET
Auction Location: On-site
Property#: AP13046-1
Tranzon Auction Properties
93 Exchange Street
Portland ME
P: 866-503-1212
F: 207-773-7275
[email protected]
Thomas W. Saturley ~ VT AUC Lic. #057-0002223
TRANZON.COM
May 25, 2013
Dear Prospective Bidder:
Enclosed for your review is the detailed Property Information Package you requested on the auction of
the property located in Bennington, Vermont.
The auction will be conducted on Thursday, June 27, 2013 at 10:00 a.m., on-site. Parties interested in
bidding may register for the sale anytime after 9:30 a.m.
Additionally, please check our website, www.tranzon.com/AP13046-2, www.tranzon.com/AP13046-3
and www.tranzon.com/AP13046-4, for information on our similar properties in Brattleboro and Bellows
Falls.
Property Inspections: Properties are currently operating and may be viewed during normal business hours.
Please do not discuss sale with store managers or clerks as they have been instructed to refer any questions
from any bidders directly to Tranzon Auction Properties. All inspections are limited to non-invasive
investigation. Thank you for your understanding and cooperation.
Deposit money for this auction will be $10,000.00 in cash, cashier's check, certified or bank check or the
equivalent made payable to Tranzon Auction Properties Escrow Account and deposited with the
Auctioneer at the time of registration. A 10% Buyer’s Premium will be added to the high bid to determine
the total purchase price. Deposit must be increased to equal 10% of the total purchase price within 5
business days of the Auction. The balance will be due and payable within 30 days upon presentation of
the Deed.
Our staff is readily available to assist you with any questions you may have regarding the property or the
auction process.
As a reminder to real estate sales agents, associate brokers and brokers, we offer a broker participation
fee. Please call us at (866) 503-1212 for details.
Thank you for your interest in this property and we look forward to seeing you on the day of the auction.
Sincerely,
MICHAEL B. CAREY
Vice President
MBC/spr
Tranzon Auction Properties | 93 Exchange Street | P.O. Box 4508 | Portland, ME 04112-4508 | T 207-775-4300 | F 207-773-7275
tranzon.com
TABLE OF CONTENTS
PAGE
Disclaimers
1
Area Map
2
Property Location Map
3
Copy of Advertising
4
Property Description
5
Note Regarding Environmental Reports
6
DEC Underground Storage Tank Information
7
Summary of Data
9
Copy of Tax Map
10
Copy of Tax Card
11
Demographic and Income Profile
13
Traffic Count Map & Profile
15
Portion of Zoning
17
Terms and Conditions of Sale
19
Purchase And Sale Agreement
21
NOTICE
ATTENTION PROSPECTIVE BIDDERS
Auction Company is acting solely as agent for the Seller
ALL INFORMATION CONTAINED IN THIS AND OTHER ADVERTISEMENTS WAS
OBTAINED FROM SOURCES BELIEVED TO BE ACCURATE. HOWEVER, NO
WARRANTY OR GUARANTEE, EITHER EXPRESSED OR IMPLIED, IS INTENDED
OR MADE. NEITHER THE AUCTION COMPANY NOR ITS EMPLOYEES,
AFFILIATES, OR AGENTS (HEREINAFTER “AUCTION COMPANY”) REPRESENT
THE BUYER/BIDDER. ALL PROSPECTIVE BUYERS/BIDDERS MUST
INDEPENDENTLY INVESTIGATE AND CONFIRM ANY INFORMATION OR
ASSUMPTIONS ON WHICH ANY BID IS BASED. NEITHER AUCTION COMPANY
NOR SELLERS SHALL BE LIABLE FOR ANY ERRORS OR THE CORRECTNESS OF
INFORMATION.
ALL ANNOUNCEMENTS MADE AT THE AUCTION TAKE PRECEDENCE OVER ANY
OTHER PROPERTY INFORMATION OR PRINTED TERMS OF SALE. ITEMS MAY BE
ADDED OR DELETED. THE PROPERTY AND IMPROVEMENTS ARE SOLD “AS IS,
WHERE IS, WITH ALL FAULTS” AND WITHOUT REPRESENTATION OR
WARRANTY OF ANY KIND WITH RESPECT TO THE ACCURACY, CORRECTNESS,
COMPLETENESS, CONTENT OR MEANING OF THE INFORMATION CONTAINED
HEREIN. PROSPECTIVE BUYERS/BIDDERS SHOULD VERIFY ALL INFORMATION.
ALL PROSPECTIVE BUYERS/BIDDERS RECOGNIZE AND AGREE THAT ANY
INVESTIGATION, EXAMINATION, OR INSPECTION OF THE PROPERTY IS WITHIN
THE CONTROL OF THE OWNER OR OTHER PARTIES IN POSSESSION AND
THEIR AGENTS. POTENTIAL BUYERS/BIDDERS ARE ENCOURAGED TO SEEK
INFORMATION FROM PROFESSIONALS REGARDING ANY SPECIFIC ISSUE OR
CONCERN. ANY DECISION TO PURCHASE OR NOT TO PURCHASE IS THE SOLE
AND INDEPENDENT BUSINESS DECISION OF THE POTENTIAL BUYER/BIDDER.
NO RECOURSE OR CAUSE OF ACTION WILL LIE AGAINST ANY OF THE ABOVEMENTIONED PARTIES SHOULD BUYER BECOME DISSATISFIED WITH ITS
DECISION, WHATEVER IT MAY BE, AT A LATER DATE.
AUCTION COMPANY AND SELLER HAVE THE RIGHT TO POSTPONE OR CANCEL
THE AUCTION IN WHOLE OR IN PART, IN ITS SOLE DISCRETION. AUCTION
COMPANY AND SELLER RESERVE THE RIGHT TO REFUSE ADMITTANCE TO, OR
EXPEL ANYONE FROM THE AUCTION PREMISES FOR INTERFERENCE WITH
AUCTION ACTIVITIES, NUISANCE CANVASSING, SOLICITING OR OTHER
REASONS.
TRANZON AUCTION PROPERTIES IS A MEMBER COMPANY OF TRANZON, LLC
AND TRANZON INTERNATIONAL, LLC. ALL TRANZON COMPANIES ARE
INDEPENDENTLY OWNED AND OPERATED.
1
AREA MAP
0 mi
5
10
15
Copyright © and (P) 1988–2012 Microsoft Corporation and/or its suppliers. All rights reserved. http://www.microsoft.com/streets/
Certain mapping and direction data © 2012 NAVTEQ. All rights reserved. The Data for areas of Canada includes information taken with permission from Canadian authorities, including: © Her
Majesty the Queen in Right of Canada, © Queen's Printer for Ontario. NAVTEQ and NAVTEQ ON BOARD are trademarks of NAVTEQ. © 2012 Tele Atlas North America, Inc. All rights
reserved. Tele Atlas and Tele Atlas North America are trademarks of Tele Atlas, Inc. © 2012 by Applied Geographic Solutions. All rights reserved. Portions © Copyright 2012 by Woodall
Publications Corp. All rights reserved.
2
20
PROPERTY LOCATION MAP
0 mi
0.2
0.4
0.6
Copyright © and (P) 1988–2012 Microsoft Corporation and/or its suppliers. All rights reserved. http://www.microsoft.com/streets/
Certain mapping and direction data © 2012 NAVTEQ. All rights reserved. The Data for areas of Canada includes information taken with permission from Canadian authorities, including: © Her
Majesty the Queen in Right of Canada, © Queen's Printer for Ontario. NAVTEQ and NAVTEQ ON BOARD are trademarks of NAVTEQ. © 2012 Tele Atlas North America, Inc. All rights
reserved. Tele Atlas and Tele Atlas North America are trademarks of Tele Atlas, Inc. © 2012 by Applied Geographic Solutions. All rights reserved. Portions © Copyright 2012 by Woodall
Publications Corp. All rights reserved.
3
0.8
COPY OF ADVERTISING
Corporate Surplus
Property - Four
Gas & C-Stores
• All in Operation! • Prime Locations Throughout
Vermont • Sold Individually • Great Visibility
• All with Convenience • Many Recent Upgrades
Sale 1: 305 South Street, Bennington, VT
Sale 2: 584 Putney Road, Brattleboro, VT
Sale 3: 450 Western Avenue, Brattleboro, VT
Sale 4: 97 Westminster Street, Bellows Falls, VT
Auctions: June 27 | Sale 1 at 10am (On-Site), Sales 2 & 3 at 1pm (at Western Avenue
Location), Sale 4 at 3:30pm (On-Site)
Tranzon Auction Properties | Thomas W. Saturley | VT AUC Lic. #057-0002223
10% Buyer’s Premium. Sales subject to Terms & Conditions. Brokers welcome.
TRANZON.COM
866-503-1212
4
PROPERTY DESCRIPTION
Address: 305 South Street, Bennington, VT
Location: Bennington is situated in
Southwestern Vermont in Bennington
County. Subject property is located just
south of the downtown area on US
Route 7, a major route for commuters
and tourists.
Site: Consists of 0.23± acres, with 111’±
of frontage on South Street (Route 7),
83’± of frontage on Elm Street, two curb
cuts along South Street and one curb
cut on Elm Street. Property has paved
on-site parking and is serviced by public
water and sewer.
The facility has a 1,440± SF steel
canopy with recessed lighting and a fire suppression system covering two fuel islands with two
fuel dispensers, each with two fueling positions. Pumps are multi-product equipped with credit
card readers. Underground fuel storage tanks reportedly consist of two fiber-coated steel tanks
one with a 12,000 gallon holding capacity and the other with an 8,000 gallon holding capacity.
Building: Property is improved by a 1,225± SF, single-story convenience store containing a
retail floor and cashier counter, a single public restroom and a 192± SF walk-in cooler with
eight cooler doors.
The store is of masonry and wood frame construction with brick exterior siding, and has an
asphalt and gravel roof. Heat is provided via a forced warm air system and there is central air
conditioning. Building is equipped with 400 amp, two-phase electrical service.
Summary of Salient Facts:







Site Area: 0.23± acres
Total Building Area: 1,225± SF
Canopy: 1,440± SF
Fueling Islands: 2
Dispensers: 2
Fueling Positions: 4
Fuel Storage Capacity: 20,000 Gallons
▪
▪
▪
▪
▪
▪
▪
Construction: Masonry & Wood
Exterior: Brick
Roof: Asphalt & Gravel
Electrical: 400 amp, two-phase
HVAC: FWA/Central AC
Water/Sewer: Public
UST’s: 2; 12,000 gals & 8,000 gals
WEBSITE OF INTEREST
Town of Bennington at www.benningtonvt.org
DISCLAIMER: This information was derived from sources believed correct, but is not guaranteed.
Buyers shall rely entirely on their own information, judgment and inspection of the property
records. All properties sold on an "AS IS, WHERE IS" basis.
5
TRANZON AUCTION PROPERTIES NOTE
On the following page(s) are excerpts from the Vermont Department of
Environmental Conservation’s WM-ID search tool, which can be found on the
DEC website at http://www.anr.state.vt.us/dec/. The DEC can be reached by
telephone at 802-828-1138.
Confidential Information:
Environmental reports are available for your review. Prior to reviewing this
Confidential Information you will be required to electronically execute an
Environmental Release Agreement (Form).
In order to access the Form, please complete the following steps:
 Please visit the individual property detail page at www.tranzon.com
 Look for the words titled “Documents to Download”.
 Click on a document link and you will be prompted to enter your
information and acknowledge and accept the terms of the Form.
 Once you have appropriately completed this execution process we will
email you a unique user identification number allowing you access to
download a printable version of the Confidential Information.
6
UST
1 of 2
7
Stormwater
Water Quality
Solid Waste
Hazardous Waste
UST
Spills
Brownfield Sites
Hazardous Sites
Waste Management
Search All Programs
Vermont.gov
Sites Mgt
Disclaimer
Help
Please send us your feedback
Search Tips
View Map
Click to view map
Facility Detail
Facility Name Twin State Food Marts
1779
Facility ID
941597
Site ID#
RU98-0234
DEC Pin#
305 South Street
Address
Bennington
Town
Permit Issued 12-28-2011
Permit Starts 12-28-2011
Permit Expires 08-01-2013
Town
Facility ID
Facility Name
Enter the search criteria below and click the [Search] button when done. (Search will display a maximum of 500 results)
Underground Storage Tanks
DEC Home
Agency of Natural Resources - Environmental Research Tool
5/23/2013 9:52 A
http://www.anr.state.vt.us/WMID/UST2.asp
UST
2 of 2
8
ACTIVE
PULLED
PULLED
PULLED
PULLED
1994-1-2
1956-4-R
1985-1-R
1985-2-R
1985-3-R
ACTIVE
1994-1-2
Tank_____ID
Tank
Status
1
1
1
1
1
1
6000
10000
10000
550
20000
20000
CAT Capacity
1985
1985
1985
1956
1994
1994
Year
Installed
1994
1994
1994
1988
GS
GS
GS
GS
UO
6000
10000
10000
550
8000
12000
Compartment
Capacity
Full Database to Excel
Compartment
Substance
11865
11864
11863
11862
11867
11866
Compartment
ID
Privacy Policy
Accessibility Policy
A Vermont Government Website Copyright © 2008 State of Vermont. All rights reserved
GOOD
GOOD
GOOD
LUST
GS
Facility Tank Status
Year
Condition
Removed
5/23/2013 9:52 A
http://www.anr.state.vt.us/WMID/UST2.asp
SUMMARY OF DATA
Town of Bennington
LOCATION INFORMATION
Address: 305 South Street, Bennington, Vermont 05201
Reference: Map 50, Block 56, Lot 47
Zoning: Per the Town, property is located in the Central Business District. Please note that
current use is a grandfathered, nonconforming use. For your convenience, a portion of the
zoning is included in this package. Please contact the Town to verify and obtain complete
zoning information at (802) 442-1037.
TAX INFORMATION
Tax Year: July 1st to June 30th
Taxes Due: November 13, 2012
Real Estate Assessed Value: $138,100.00 (Land) + $167,500.00 (Building) = $305,600.00
Real Estate Annual Taxes: $8,285.00 (2013 Tax Year)
UTILITIES
Water & Sewer: Public. Billed quarterly by the Town.
The foregoing information is based on a telephone conversation with the municipal office and its
accuracy is not certified. Tranzon Auction Properties strongly recommends you contact and visit
the Town office to verify information as well as review files pertaining to this property,
including, but not limited to, Code Enforcement, Zoning, Planning Board, Assessor, and
Collector files. The telephone number for the Town is (802) 442-1037.
9
10
11
12
Demographic and Income Profile
South Street, Bennington, VT
305 South St, Bennington, VT, 05201,
Ring: 10 mile radius
Summary
Prepared by Thomas Saturley
Latitude: 42.876149695
Longitude: -73.19726023
Census 2010
2012
2017
Population
31,587
31,760
31,476
Households
12,740
12,745
12,768
8,130
8,086
8,010
2.36
2.37
2.35
Owner Occupied Housing Units
8,832
8,887
8,915
Renter Occupied Housing Units
3,908
3,858
3,853
42.6
43.2
44.2
Area
-0.18%
0.04%
-0.19%
0.06%
4.33%
State
0.13%
0.38%
0.13%
0.39%
2.70%
National
0.68%
0.74%
0.72%
0.91%
2.55%
2017
Families
Average Household Size
Median Age
Trends: 2012 - 2017 Annual Rate
Population
Households
Families
Owner HHs
Median Household Income
2012
Households by Income
Number
Percent
Number
Percent
<$15,000
1,972
15.5%
1,908
14.9%
$15,000 - $24,999
1,610
12.6%
1,231
9.6%
$25,000 - $34,999
1,583
12.4%
1,150
9.0%
$35,000 - $49,999
2,232
17.5%
1,806
14.1%
$50,000 - $74,999
2,325
18.2%
2,817
22.1%
$75,000 - $99,999
1,443
11.3%
1,971
15.4%
$100,000 - $149,999
1,044
8.2%
1,230
9.6%
$150,000 - $199,999
310
2.4%
396
3.1%
$200,000+
226
1.8%
259
2.0%
Median Household Income
Average Household Income
Per Capita Income
$41,796
$55,678
$23,182
Census 2010
Population by Age
$51,664
$63,648
$26,688
2012
2017
Number
Percent
Number
Percent
Number
Percent
0-4
1,739
5.5%
1,733
5.5%
1,699
5.4%
5-9
1,818
5.8%
1,807
5.7%
1,764
5.6%
10 - 14
1,899
6.0%
1,868
5.9%
1,845
5.9%
15 - 19
2,352
7.4%
2,258
7.1%
2,133
6.8%
20 - 24
2,038
6.5%
2,067
6.5%
1,909
6.1%
25 - 34
3,145
10.0%
3,201
10.1%
3,159
10.0%
35 - 44
3,788
12.0%
3,699
11.6%
3,539
11.2%
45 - 54
4,961
15.7%
4,825
15.2%
4,389
13.9%
55 - 64
4,387
13.9%
4,606
14.5%
4,740
15.1%
65 - 74
2,655
8.4%
2,842
8.9%
3,349
10.6%
75 - 84
1,840
5.8%
1,842
5.8%
1,898
6.0%
964
3.1%
1,012
3.2%
1,052
85+
Census 2010
Race and Ethnicity
2012
3.3%
2017
Number
Percent
Number
Percent
Number
Percent
White Alone
30,458
96.4%
30,571
96.3%
30,111
95.7%
Black Alone
263
0.8%
288
0.9%
354
1.1%
87
0.3%
94
0.3%
113
0.4%
222
0.7%
231
0.7%
254
0.8%
15
0.0%
15
0.0%
17
0.1%
Some Other Race Alone
126
0.4%
137
0.4%
166
0.5%
Two or More Races
415
1.3%
423
1.3%
461
1.5%
Hispanic Origin (Any Race)
473
1.5%
516
1.6%
621
2.0%
American Indian Alone
Asian Alone
Pacific Islander Alone
Data Note: Income is expressed in current dollars.
Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2012 and 2017.
May 21, 2013
©2013 Esri
13
Page 1 of 2
Demographic and Income Profile
South Street, Bennington, VT
305 South St, Bennington, VT, 05201,
Ring: 10 mile radius
Prepared by Thomas Saturley
Latitude: 42.876149695
Longitude: -73.19726023
Trends 2012-2017
Annual Rate (in percent)
4
3.5
3
2.5
2
1.5
1
Area
State
USA
0.5
0
Population
Households
Families
Owner HHs
Median HH Income
Percent
Population by Age
15
14
13
12
11
10
9
8
7
6
5
4
3
2
1
0
2012
2017
0-4
5-9
10-14
15-19
20-24
25-34
2012 Household Income
$25K - $34K
12.4%
35-44
45-54
55-64
65-74
75-84
85+
2012 Population by Race
$15K - $24K
12.6%
90
80
<$15K
15.5%
70
$200K+
1.8%
$150K - $199K
2.4%
$100K - $149K
8.2%
Percent
60
$35K - $49K
17.5%
50
40
30
20
10
$50K - $74K
18.2%
$75K - $99K
11.3%
0
White
Black
Am. Ind.
Asian
Pacific
Other
Two+
2012 Percent Hispanic Origin: 1.6%
Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2012 and 2017.
May 21, 2013
©2013 Esri
14
Page 2 of 2
Traffic Count Map - Close Up
South Street, Bennington, VT
305 South St, Bennington, VT, 05201
Ring: 10 Miles
Prepared by Thomas Saturley
Latitude: 42.87615
Longitude: -73.19726
Source: ©2011 MPSI (Market Planning Solutions Inc.) Systems Inc. d.b.a. DataMetrix®
May 21, 2013
15
©2013 Esri
Traffic Count Profile
Prepared by Thomas Saturley
South Street, Bennington, VT
305 South St, Bennington, VT, 05201
Ring: 10 miles radius
Latitude: 42.87615
Longitude: -73.19726
Distance:
Street:
Closest Cross-street:
Year of Count:
Count:
0.06
Elm St
South St (0.05 miles E)
2001
4,300
0.11
South St
Franklin Ln (0.01 miles S)
2002
8,000
0.13
Union St
Valentine St (0.14 miles E)
2001
2,800
0.16
Silver St
Hillside St (0.03 miles N)
2001
1,500
0.16
Main St
Depot St (0.18 miles NW)
1992
12,400
0.17
Washington Ave
Weeks St (0.2 miles S)
2001
3,700
0.18
South St
Prospect St (0.06 miles S)
2002
8,000
0.19
Silver St
Hillside St (0.08 miles S)
1993
1,100
0.22
Pleasant St
Park St (0.13 miles E)
1989
1,100
0.24
Weeks St
Washington Ave (0.03 miles E)
2001
1,900
0.25
Silver St
Hillside St (0.23 miles N)
2001
780
0.27
Main St
Depot St (0.03 miles SE)
1992
9,800
0.30
Depot St
Main St (0.07 miles S)
2001
7,500
0.32
North St
River St (0.09 miles N)
2002
10,700
0.33
Dewey St
Everett St (0.36 miles S)
2001
4,800
0.39
Gage St
Safford St (0.4 miles E)
2001
1,600
0.41
Gage St
Safford St (0.32 miles E)
1989
1,400
0.44
Benmont Ave
Leonard St (0.4 miles N)
2001
9,300
0.44
Pleasant St
Park St (0.19 miles W)
2001
1,600
0.57
Safford St
Scott St (0.03 miles S)
2001
2,700
0.61
Depot St
Main St (0.39 miles S)
2001
4,100
0.62
Beech St
S Branch St (0.28 miles SE)
2001
2,900
0.64
Park St
Pratt St (0.27 miles S)
2001
7,000
0.64
Morgan St
Forest Veiw Dr (0.14 miles N)
2001
1,500
0.65
Gage St
Safford St (0.06 miles W)
2001
2,800
0.67
Main St
N Branch St (0.19 miles E)
2002
9,200
0.67
Benmont Ave
Leonard St (0.13 miles N)
2001
12,400
0.69
Elm St
South St (0.69 miles E)
2001
1,900
0.74
Main St
Convent Ave (0.09 miles SE)
2002
10,400
0.83
Monument Ave
W Rd (0.38 miles N)
2001
2,200
Data Note:The Traffic Profile displays up to 30 of the closest available traffic counts within the largest radius around your site. The years of
the counts in the database range from 2011 to 1963. Just over 68% of the counts were taken between 2001 and 2011 and 86% of the counts
were taken in 1997 or later. Traffic counts are identified by the street on which they were recorded, along with the distance and direction to
the closest cross-street. Distances displayed as 0.00 miles (due to rounding), are closest to the site. A traffic count is defined as the two-way
Average Daily Traffic (ADT) that passes that location.
Source: ©2011 MPSI Systems Inc. d.b.a. DataMetrix®
©2011 Esri
5/21/2013
16
Page 1 of 1
TRANZON AUCTION PROPERTIES NOTE: PER THE TOWN, PROPERTY IS LOCATED IN THE CENTRAL BUSINESS
DISTRICT. FOR YOUR CONVENIENCE, A PORTION OF THE ZONING IS INCLUDED IN THIS PACKAGE. PLEASE
CONTACT THE TOWN TO VERIFY AND OBTAIN COMPLETE ZONING INFORMATION.
17
18
TERMS AND CONDITIONS OF SALE
1.
Auctioneer is Tranzon Auction Properties with offices at 93 Exchange Street, Portland,
Maine (hereinafter called “Auctioneer”). The Seller is Eagle-Knight Realty Company, Inc.
(hereinafter called “Seller”).
2.
This sale is of certain real estate and personal property (hereinafter called “Property”)
located at 305 South Street, Bennington, County of Bennington, Vermont.
3.
The sale may be adjourned from time to time as the Auctioneer may determine.
4.
To bid, a bidder must first deposit ten thousand dollars ($10,000.00) and register with
the Auctioneer. Deposits must be in cash, certified, cashier's or bank check payable to
Tranzon Auction Properties Escrow Account. As appropriate, successful bidder shall pay to the
Auctioneer the additional amount necessary to achieve a deposit of ten percent (10%) of the
purchase price, by cash or certified U.S. funds, not later than five (5) business days following
the auction. No bid will be considered unless such bidder has first registered with the
Auctioneer and deposited with him the required earnest money deposit. Bids will be made
orally. The Auctioneer reserves the right to control the increments of the bids. Any bid not in
compliance with the terms of sale may be rejected. A ten percent (10%) Buyer’s Premium, to
be paid by successful bidder, will be added to the bid price (high bid). The bid price (high bid)
when added to the 10% Buyer’s Premium will be the purchase price of the property.
5.
The Auctioneer may withdraw the “Property” at any time until he announces the
completion of the sale. The Seller of the “Property” reserves the right to reject the high bid and
any and all bids in its sole discretion.
6.
Bidding will be conducted as a public auction. The highest bidder will be the buyer of
the property, subject to the Seller's right to reject any and all bids, including the highest bid in its
sole discretion. At the acceptance of the bid, the winning bidder (the “Buyer”) will sign a
Purchase and Sale Agreement in the form of the specimen attached hereto, the terms of which
are incorporated herein.
7.
The balance of the purchase price payable by the successful bidder shall be made in
U.S. certified funds or wire transfer. Closing is to be held no more than 30 days following the
date of a Purchase and Sale Agreement.
8.
The Property is sold "AS IS, WHERE IS" with all existing defects and without any
warranties of any kind, including but not limited to fitness for a particular purpose, habitability or
merchantability. Bidders are invited to inspect the premises and public records prior to making
a bid. No warranties, guarantees or representations of any kind are made; and all warranties
are disclaimed with respect to any improvements located above ground and underground, the
location and/or boundaries of the premises or improvements thereon, environmental
compliance, or its compliance with any applicable zoning or land use regulations, laws or
ordinances. The Buyer acknowledges that the Seller has no responsibility to the Buyer for any
hazardous waste, asbestos, oil, petroleum waste, lead paint, urea formaldehyde and other
liability causing substances on, under or emitting from the Property, Buyer is relying upon its
own inspection, and its own professional advisors in its examination of the Property and all
improvements thereon. Buyer hereby represents, warrants and covenants to Seller that, prior
to the Agreement Date, Buyer has conducted Buyer's own investigation of the Property and the
19
physical condition thereof. Buyer agrees that Seller is not giving any express warranty, has no
successor liability and is not obligated to give any implied warranties. The Buyer will assume
responsibility and expenses for any title search, title examination or title insurance, as set forth
in said Purchase and Sale Agreement.
THE BUYER WILL ASSUME RISK OF ANY DEFECTS, AND EACH BIDDER EXPRESSLY
ACKNOWLEDGES AND AGREES THAT THE AMOUNT BID REFLECTS THE "AS IS,
WHERE IS" CONDITION OF UNDISCLOSED DEFECTS. EACH BIDDER FURTHER
ACKNOWLEDGES AND AGREES THAT SUCH BIDDER IN NO WAY RELIES UPON
REPRESENTATIONS MADE BY SELLER OR HIS AGENTS.
The disclaimers, representations, and acknowledgements contained in this paragraph 8 of the
Terms and Conditions of Sale shall not become merged in, but shall survive the closing of the
conveyance of title to Buyer. At Seller’s election, the form and substance of the foreclosing
disclaimers, representations and acknowledgements may be set forth in the quitclaim deed of
conveyance as further evidence of Buyer’s acceptance of the foregoing disclaimers,
representations and acknowledgements.
9.
In the case of disputed bidding, the Auctioneer shall be the sole and absolute judge of
such dispute.
10.
The Auctioneer acts only as agent for the Seller and represents the Seller’s interests
and, as such, has a fiduciary duty to disclose to the Seller information which is material to the
sale, acquired from the Buyer or any other source.
11.
In the event of any conflict between these Terms and Conditions of Sale and the
Purchase and Sale Agreement, the Purchase and Sale Agreement shall control.
12.
NOTE: By registering, you have signed a written, binding contract agreeing to these
Terms and Conditions of Sale and further agreeing that any bid you make is subject to Vermont
Auction Law.
13.
This sale is subject to confirmation by the Seller.
14.
Other terms or conditions may be announced at the sale. The Property is subject to
sale prior to auction. Seller expressly reserves the right to cancel the sale or modify the terms
and conditions prior to announcing completion of the sale.
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PURCHASE AND SALE AGREEMENT
This Purchase and Sale Agreement (hereinafter called “Agreement”) is made this _______
day of_____________________, 2013 by and between Eagle-Knight Realty Company, Inc, a
Vermont s-corporation with an address of P.O. Box 938, Brattleboro, VT 05302-0938
(hereinafter called “Seller”) and ________________________________________________
with an address of___________________________________________________________
__________________________________(hereinafter called "Buyer"), who agree as follows:
1.
Property. Seller agrees to sell and Buyer agrees to buy, subject to the terms and
conditions hereinafter stated, Seller's right, title and interest in and to the following
(collectively, the “Property”):
A. Real Property. The Lands and Premises located at 305 South Street, Bennington,
County of Bennington, Vermont, which real estate is more particularly described in Deed
description (EXHIBIT A) attached hereto and incorporated herein by reference. Seller is not
required to deliver any state or local permits with this Property.
B. Personal Property. All tangible personal property, equipment, and furnishings
located on the real property at the time of Closing belonging to Seller, excepting such excluded
items which are not being conveyed by Seller or are not owned by Seller, as are described on
Exhibit B attached hereto and incorporated herein.
C. Inventory. All Retail Merchandise Inventory and Fuel Inventory existing on site as of
the date of Closing.
This Agreement is subject to the Terms and Conditions of Sale attached hereto and made a
part hereof.
2.
Price. Purchase price calculated as:
High Bid:
$
10% Buyer’s Premium: (+) $
Purchase Price:
set forth below.
(=)
$
plus cost of Inventory as
Separate payment shall be made by Buyer to Seller for Seller’s Retail Merchandise Inventory
and Fuel Inventory existing on site as of the date of Closing. Inventory shall be valued at
Seller’s cost. Buyer shall have the right to reasonably reject any Retail Merchandise
Inventory that is out of date or not resalable. The Retail Merchandise Inventory shall not
include proprietary products bearing the logo or trademark of any fuel brand or Seller’s store
brand.
Buyer has this day deposited cash or certified United States funds, made payable to Tranzon
Auction Properties Escrow Account (hereinafter called "Auctioneer") in the amount of
$10,000.00, the receipt of which non-refundable deposit is hereby acknowledged. Buyer shall
pay to the Auctioneer the additional amount necessary to achieve a deposit of ten percent
(10%) of the purchase price, by cash or certified U.S. funds, not later than five (5) business
days following the date of this Agreement.
3.
Closing. Buyer is required to pay the balance in wire transfer or certified United States
funds at the time of closing. Closing shall occur no more than 30 days following the date of this
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Agreement and shall take place at a mutually agreed upon location. Seller and Buyer mutually
agree that time is of the essence with respect to this Agreement and the closing.
Notwithstanding the above, the closing date shall be extended for any period of time necessary
for Seller to cure title defects as more fully described below.
4.
Risk of Loss. The risk of loss to the premises by act of God, fire, or other casualty is
assumed by Seller until transfer of title. In the event of any casualty, loss or damage to the
property, unless otherwise agreed, this contract shall remain in full force and effect, and the Seller
will assign to the Buyer the right to any proceeds of insurance arising from such loss or damage.
In the event of taking by condemnation or eminent domain prior to closing, this Agreement shall
remain in full force and effect and Seller shall pay over or assign to Buyer at the closing any
condemnation proceeds, rights or awards receivable or received as a result of such taking or
condemnation.
5.
Title Examination. Buyer may examine title for ten (10) days after date of this Agreement
and shall within that time notify Seller in writing (the “Title Defect Notice”) of any defects in title
which may render the title uninsurable. The Title Defect Notice shall state with specificity the
title defect and the requested remedy and include any recorded documents causing the defect.
Seller may, at its option, either terminate this Agreement, or proceed to cure the title defects
referenced in the Title Defect Notice. In the event Seller elects to cure such title defects, Seller
shall provide written notice to Buyer of its intent to cure such defects within ten (10) days after
receiving the Title Defect Notice. Seller shall have forty-five (45) days to cure any defects of
title so brought to its attention, which may render the title uninsurable. The Closing date shall
be extended in the event Seller elects to cure such defects. In the event Seller fails to remedy
the defects within such time frame, Buyer’s exclusive remedy is the right to rescind and have
refunded the deposit. If Buyer fails to rescind within ten (10) days of Seller’s notice that it has
not cured title or lapsing of the 45 day cure period, Buyer will be deemed to have waived such
defects in title.
6.
Title. On the date of Closing and subject to Seller’s receipt of the purchase price (less
the Buyer’s Premium), Seller shall convey to Buyer by Quitclaim Deed, subject to: (a) all
general and special taxes not then due and payable; (b) special taxes becoming a lien after
the date thereof; (c) all applicable building and zoning ordinances; (d) any agreements,
easements, restrictions and other matters of record (except for existing deeds of trust,
mortgages, mechanics’ or materialmen’s or similar liens caused or created by Seller that can
be discharged by the payment of money, which encumbrances Seller shall discharge at or
before Closing); (e) the disclaimers, representations and acknowledgments contained in
paragraph 8 of the Terms and Conditions of Sale; and (e) all matters that would be disclosed
by an accurate survey of the Property.
7.
Costs and Expenses. Buyer will assume responsibility and all associated costs of: Title
search and/or examination and all inspections and property reports obtained by Buyer; title
insurance coverage; Buyer’s share of pro-rated real estate taxes; deed recording costs;;
Buyer's pro-rated share of fuel, water, sewer, and/or other utility charges, if any; auction
commissions payable to Tranzon Auction Properties as provided for herein; and representation
by legal counsel. Seller will assume responsibility and all associated costs of: Seller’s share of
pro-rated real estate taxes;; pro-rated share of fuel, water, sewer, and/or other utility charges, if
any; auction fees and/or commissions, except as provided herein, payable to Tranzon Auction
Properties; Seller’s document preparation and processing fees; and representation by legal
counsel.
22
8.
Property Transfer Tax/Act 250 Disclosure Statement: Buyer shall be responsible for
and shall pay the Vermont Property Transfer Tax due on the sale covered by this contract.
In the event Seller is required to provide Buyer with an Act 250 Disclosure Statement and
fails to provide such a statement or provides the statement in an untimely manner, Buyer's
closing on this transaction and acceptance of Seller's deed shall constitute a waiver and
release of Buyer's right to declare this a contract unenforceable, to rescind this transaction or
to pursue Seller for damages arising out of the failure to provide an Act 250 Disclosure
Statement.
9.
Land Gains Tax: Any Land Gains Tax due on this sale shall be the responsibility of
Seller except as otherwise provided by law or by this contract. At or prior to closing, Seller
shall provide Buyer with satisfactory proof either that there is no such tax due or that the tax
has been paid in full.
Income Tax Withholding Requirements if Seller is a Nonresident of Vermont: If Seller
10.
is a nonresident of Vermont, unless a withholding certificate is issued by the Vermont
Commissioner of Taxes in advance of the closing, Buyer shall withhold 2.5 percent of the
total purchase price and file a Withholding Tax Return with the Vermont Department of
Taxes. As required by Vermont Law, If Buyer fails to withhold such tax, Buyer may be liable
to the Vermont Department of Taxes for the amount of such tax. Buyer shall have the right
to reasonably request evidence that Seller is exempt from payment of the tax in the form of a
certificate of residence. In the event Buyer is determined to be liable for the payment to the
Vermont Department of Taxes for such tax, Seller shall indemnify and hold Buyer harmless
for all such liability together with any interest, penalties and reasonable expenses, including
attorneys' fees, incurred by Buyer.
11.
Possession. Buyer shall only be entitled to possession at Closing.
12.
Buyer Default/Termination. If Buyer shall either default in the making of any payment
required herein or shall fail to comply with any term, condition or covenant of this Agreement,
Seller may, in addition to any other right or rights available as a matter of law or equity, retain
the deposit(s) as liquidated damages; declare Buyer's rights under this Agreement
terminated and at an end; and Seller may resell the Property or readvertise the Property for
sale, at Seller’s option. Notice of intention to declare this Agreement so terminated shall be
given in writing to Buyer and shall be deemed to be effective upon mailing of such notice by
certified mail, return receipt requested by Seller to Buyer at the address listed above. Seller
shall be entitled to recover from Buyer all attorneys’ fees and costs, including paralegal fees
incurred by Seller in connection with any default or breach by Buyer of any term, condition or
covenant of this Agreement. The Buyer’s commitment under this Agreement will NOT be
contingent upon securing financing or upon any other condition; and the Buyer’s deposit will
not be refunded due to any inability to obtain financing or any other failure by Buyer to
perform, except as to title matters outlined in the Agreement.
13.
Limitation of Buyer’s Damages. Buyer agrees that in any dispute or action arising out
of this Agreement or the matters described herein, the damages to which Buyer may be due
at any time and as against Seller for any reason shall be specifically limited to the amount of
Buyer’s deposit(s), repayable without interest, and that under no circumstances may such
damages include without limitation, any claims for punitive damages, lost profits,
compensatory damages, consequential damages and/or attorneys’ fees.
14.
Number/Gender/Joint and Several Obligations. The term "Buyer" or any pronoun used
in its place shall mean and include the masculine and the feminine, the singular, or the plural
number and jointly and severally, individuals, friends or corporations and their respective
23
successors, executors, administrators and assigns according to the context hereof. This
Agreement and any Additional Terms and Conditions shall be equally binding upon and shall
inure to the benefit of the legal representatives and successors in interest of the parties
hereto.
15.
Entire Agreement. This Agreement and any Additional Terms and Conditions
incorporated herein by reference constitute the entire agreement between the Seller and
Buyer, supersedes all prior negotiations and understandings, shall not be altered or amended
except by written amendment signed by Seller and Buyer, and Buyer hereby acknowledges the
Agreement and any Additional Terms and Conditions have been carefully read and are fully
understood.
This Agreement shall be governed by Vermont law.
IN WITNESS WHEREOF, the Buyer and Seller have executed this Agreement in triplicate
originals on the day, month and year first above written.
Witness:
SELLER: Eagle-Knight Realty Company, Inc
_______
Date:_________________
By: ______________________________
Printed Name:_____________________
Title:__________________, duly authorized
Date:__________________________
Witness:
BUYER:
Date:
__________
By:_________________________________
Printed Name:________________________
SSN or EIN: _________________________
Date:_______________________________
Witness:
BUYER:
__________
Date:___________________
By:_________________________________
Printed Name:________________________
SSN or EIN: _________________________
Date:_______________________________
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Schedule A
305 South Street, Bennington
Being all and the same lands and premises as were conveyed to Eagle-Knight Realty
Company, Inc. by warranty deed of Eagle-Knight Realty Company dated July 31, 1996,
recorded in Book 0-328, Page 43 of the Bennington Land Records, and being all and the same
lands and premises as were conveyed to Eagle-Knight Realty Company by Warranty Deed of
Andre Hector Betit and Donna M. Betit dated April 14, 1989, recorded April 17, 1989 in Book
0-278, Page 103 of the Bennington Land Records, and in said deed described as follows:
“IT BEING ALL AND THE SAME LANDS AND PREMISES CONVEYED TO ANDRE
HECTOR BETIT AND DONNA M. BETIT BY QUIT CLAIM DEED FROM TEXACO,
INC. DATED AUGUST 15, 1984 AND RECORDED AUGUST 30, 1984 IN BOOK 0-248
AT PAGE 56 OF THE BENNINGTON LAND RECORDS AND THEREIN DESCRIBED
AS FOLLOWS:
“Being a piece or parcel of land with the improvements thereon situated at the intersection of
the west line of the main highway U.S. Route #7, and the south line of Elm Street, so-called,
bounded and described as follows:
“Beginning at an iron pipe, driven in the ground, at the intersection of U.S. Route #7 (South
Street) and Elm Street, being the northeasterly corner of the parcel herein conveyed, said iron
pipe being located 24.75feet from the center line of U.S. Route #7;
“thence running along the highway, U.S. Route #7, South 18º 57’ 25” West a distance of
111.39 feet to a corner point, 0.2 feet off the edge of a concrete right of way, being the
northeast corner of Lot #307, now or formerly of Miriam Murphy;
“thence turning and running along lands of Murphy along a concrete right of way North 78º
01’ 32” West a distance of 98.67 feet past the Texaco Gas Station building (the southwest
corner of said building being 1.2 feet from the edge of the property line) and passing over an
underground stream in a stone masonry culvert to a 1” x 3’ iron pipe marking the southwest
corner of the parcel herein conveyed (said iron pipe being 9.4’ east from an existing ½” iron
pipe);
“thence turning and running along lands of Hildred B. Martin North 26º 34’ 14” East (passing
through an existing ¾” pipe on property line) a distance of 130.00 feet to an 1” x 3’ pipe (said
iron pipe being located 0/3’ from an existing iron pipe in or near the edge of the concrete
sidewalk);
“thence turning and running along the concrete sidewalk on the south side of Elm Street South
61º 15’ 00” East a distance of 82.59’ to an iron pipe being the point or place of beginning.
25
“There is included herewith all rights of the Grantor in and to the centers of the highways
abutting said parcel on the North and on the East.
“The above description is from a survey and map prepared by Leonard A. Lamoureaux of
Donald L. Hamlin Consulting Engineers, Inc., Essex Junction, Vermont, entitled “Helga A.
Jennings property at corner of South and Elm Streets, Bennington, Vermont” dated July 30,
1971.
“Being all and singular the same lands and premises conveyed to Helga A. Jennings by deed
of Corner Craft Shop, Inc. dated 19 January 1971 and to Texaco Inc by deed dated October 8,
1971 and recorded in Bennington Land Records.
“Excepting the rights, if any, of the owners of land formerly of Shakshober to take water from
the spring on the premises granted herein.
“Reference may be had to said deeds, survey maps and the Land Records of the Town of
Bennington for a more particular description.
“This conveyance is made subject to the following:
“1. Any state of facts an accurate survey may disclose including changes in street lines;
“2. Zoning regulations and ordinances and building restrictions and regulations and any
violations thereof;
“3. All assessments, costs and charges for any and all municipal improvements affecting or
benefitting said premises; and
“4. Covenants, restrictions, easements and agreements of record, affecting or benefitting said
premises, as the same may be of present force and effect.”
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EXHIBIT B
VENDOR OWNED EQUIPMENT
305 South Street
1. Pepsi Cooler
2. Red Bull Cooler
3. Ice Cream Freezer
4. Frito Rack
5. Little Debbie Cake Rack
6. Coffee Pots and Brewers
7. Cappuccino Machine
8. Milk/Cream Dispenser
9. Outside Ice Chest
10. Food Stamp POS Equipment
11. Phone Card POS Equipment
12. Air Machine
13. Lottery Machine
14. POS Software
27