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3. NATURE, TIME AND LOCATION OF SALE: The sale will be a public
auction sale for cash and will be held in the meeting room of the F.amada Inn,
964 South Harbor City Boulevard (U.S. Highway #1), Melbourne, Florida 32901.
The sale will be held at said site on Thursday, March 6, 1980, commencing at
2:.00 o'clock P.M., and continuing to its conclusion on said date.
4. THE AUCTIONEER AND HIS COMPENSATION: Malcolm A. McDougall, d/b/a
McDougall's Auction Company, 6305.Romilly Drive, Jacksonville, Florida 32210
(904/772-7980) is qualified to conduct the sale and will do so subject to the
approval of this Application. He has agreed to do so for a commission or fee
of lOX on the first $100,000.00 of the gross sale proceeds received and realized
by the Estate and for a fee or commission of 3X on all gross proceeds to the
Estate above $100,000.00. In computing the gross. sales proceeds for the purpose
of determining and computing the Auctioneer's commission there shall be no de-
ductions therefrom on account of mortgage, taxes, or special assessment due
against the property sold.
S. EXPENSES OF THE SALE: The Auctioneer shall pay all expenses of
. the sale from his commission, including, but not limited to, advertising, his
travel and that of his employees, salaries of his assistants, rental of the
sale location.
The Estate shall provide a minimum title insurance binder on each
parcel to be sold, at a cost not to exceed $75.00 on each parcel. Due to lack
of available .funds in the estate, the binder cost will not be advanced to the
title company.
In the event the sale is cancelled prior to sale date, through
no fault of the Auctioneer, the Estate shall reimburse the Auctioneer his out-
of-pocket expenses incurred by him to the date of cancellation, subject to
approval of the Court and the filing of an appropriate application therefor by
the said Auctioneer or the Trustee.
6. LIENS AND ENCUMBRANCES: The Trustee is unaware of any liens
or encumbrances. which Would attach to the proceeds of this sale.
7. TERNS AND CONDITIONS OF THE SALE: The Estate shall pay all
delinquent ad valorem taxes and the 1979 ad valorem taxes. In the event the
bid does not exceed the said taxes due and cost of title insurance binder, the
Trustee shall not be obligated to accept the high bid. There shall be no
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