39ft. Wood Lobster Yacht M/V Sarah Holloway

Terms: A $25,000 deposit (nonrefundable as to highest bidder) in cash, certified US funds, or wire transfer, made payable to the Keenan Auction Company, Inc. (deposited with the Auctioneer as a qualification to bid), with balance due and payable to auctioneer in cash, certified US funds, or wire transfer within 5 calendar days of the public sale. Keenan Auction Company, Inc. will act as escrow agent in the transaction. A Buyer’s Premium in the amount of 13% for online bidders will be added to the high bid price to establish the total purchase price. Bidding and acknowledgment will be by bid number only. Please register with the auctioneer to bid. The online bidders will be required to provide to the auctioneer the bid deposit on or before July 10, 2019 by 4PM. The deposit will need to be mailed to Keenan Auction Company at 1 Runway Rd., South Portland, ME 04106. For wiring information please email info@keenanauction.com or call 207-885-5100. Once you become a winning bidder, and upon approval of the high bid by the Seller, title passes (UCC) and you are responsible for the vessel. Auctioneer and Seller are not responsible for theft or damage to vessel after title passes. The risk of loss with respect to the vessel shall be with the successful purchaser. Sales Tax: 5.5% Maine sales tax will apply. Dealers or exempt agencies must provide us with a copy of their annual resale certificate at time of registration. Out-of-state residents are non-taxable if the vessel is berthed outside of the State of Maine. If the non-resident berths the vessel in Maine for more than 30-days they are 40% exempt from paying sales tax (2.2% Sales Tax). Out-of-State purchasers will be required to complete the State of Maine Affidavit of Exemption Form indicating their intentions regarding removal of the vessel. This form is available from the auctioneer. Removal: Vessel may not be removed until the sale is completed and after complete payment has been made. Purchaser will be responsible for removing or storing the vessel at Rockport Marine at time of closing, and the closing needs to occur on or before July 16, 2019. The sale may be subject to an objection by the owner or lienholder Camden National Bank, for lack of sufficient sale price or some other unforeseen issue which may delay the confirmation of the sale by the U.S. District Court here in Maine. Should such unforeseen issue arise, then there may be a delay on such closing date. Thus, any issue on the confirmation may take at least 10 business days from the date of sale. Arrangements to store or remove the vessel from Rockport Marine are the purchaser's responsibility. Document/Wire Fees: Any document filing fees will be the purchaser's responsibility. Bidders making the required deposit via a wire will be responsible for any and all wire transaction fees, whether assessed to the bidder or Keenan Auction Company. Warranties: While descriptions are believed to be correct, the Auctioneer and the Seller make no warranties or guarantees, expressed or implied as to the genuineness, authenticity of, or defects in the asset, and will not be held responsible for advertising discrepancies or inaccuracies. Purchaser acknowledges that purchaser has had the opportunity to inspect the asset, and that the asset is sold on an "AS IS", "WHERE IS" basis except as expressly made in writing. No warranties are made as to the merchantability of the asset or its fitness for any purpose. Auctioneer and Seller do not guarantee the accuracy or completeness of the information contained in the auction catalog. Purchaser does hereby indemnify and hold harmless Auctioneer and Seller from any and all damages and claims of any type whatsoever, caused during the sale or arising out of the sale, or by the removal of the item purchased. If any dispute arises between two or more bidders, the Auctioneer at his sole option may put up the lot again for sale at once and resell to the highest bidder. The auctioneer’s word will be absolute and final in resolving any disputes. The Auctioneer reserves the right to bid and to reject any and all bids including any bid, which is only a fractional advance over the proceeding bid. Absentee bids will not be accepted. All bids subject to confirmation of the Seller. Default: In the event the Purchaser fails to pay the whole of the purchase price within the time set forth by the Seller, and/or fails to comply with any of the Terms and Conditions of Sale, the Seller/Auctioneer may retain and/or recover the full deposit specified as liquidated damages, and in addition thereto, can be resold at public or private sale without further notice. Any deficiency resulting from such resale shall be paid to the Seller by such resale and enforcement of the obligation thereunder. Buyer agrees to pay any and all charges and expenses incurred by reason of any breach of the Terms and Conditions of Sale, including without limitation reasonable attorney's fees. Severability: These terms and conditions of sale shall not be construed against the party preparing them, but shall be construed as if all parties jointly prepared these terms and conditions of sale and any uncertainty or ambiguity shall not be interpreted against any one party. If any provision hereof is held to be illegal, invalid or unenforceable under any present or future applicable laws, such provision shall be fully severable and the terms and conditions herein shall be construed and enforced as if such illegal, invalid or unenforceable provision had never been made a part hereof. The remaining provisions herein shall remain in full force and effect and shall not be affected by such illegal, invalid or unenforceable provisions or by their severance herefrom. Please Note: You have signed or electronically agreed to a written binding contract agreeing to the Terms and Conditions of Sale, and understand that any bid you make falls under the Maine Auction Law, Title II, Section 2-328 of the Uniform Commercial Code, and the Statute of Frauds. Maine auctions are under the jurisdiction of the State of Maine Department of Professional and Financial Regulations, Board of Licensure of Auctioneers, 35 State House Station, Augusta, Maine, 04330. If you do not agree with the Terms and Conditions of the Sale, please return your bid card to the auctioneer.