POWER OF SALE REAL ESTATE PUBLIC AUCTION

Click on large image to see full sized

Date: SUNDAY NOVEMBER 23, 2008
Time: 1 PM
Location: GOODWOOD, ONTARIO

WE HAVE BEEN INSTRUCTED BY THE COMMUNITY TRUST "THE MORTGAGEE" TO SELL UNDER OF POWER OF SALE THIS MAGNIFICENT 30+ ACRE EQUESTRIAN PROPERTY BY MEANS OF

PUBLIC AUCTION

1509 CONCESSION ROAD # 3

GOODWOOD, ONTARIO

SUNDAY NOVEMBER 23 rd, 2008 @ 1 PM

(OPEN HOUSE SATURDAY NOVEMBER 16TH, 2008  1 PM  TO 4 PM)

(404 NORTH TO HWY 47 BETWEEN HUXBRIDGE AND STOUFFVILLE NORTH AND MINUTES FROM TORONTO)

CHANCE OF A LIFETIME  

   NOTE: COVER-ALL ARENA (EQUESTRIAN BUILDING) WILL BE OFFERED FOR SALE BY PUBLIC AUCTION AS A SEPERATE PARCEL. GLOBAL ASSETS SOLUTIONS INC. WILL OFFER THE COVER-ALL ARENA BY PUBLIC AUCTION ON BEHALF OF GARDNER AUCTIONS INC OF LONDON ONTARIO. 10% BUYER'S PREMIUM IN EFFECT ON COVER-ALL. GLOBAL ASSETS SOLUTIONS INC IS ACTING ONLY AS AGENT FOR GARDNER AUCTIONS INC. SUBJECT TO VENDORS APPROVAL   

TERMS AND CONDITIONS OF REAL ESTATE AUCTION

A valid drivers license or proper identification is required along with a $5,000.00 refundable security deposit to bid on said Real Estate Property Auction. By means of Cash or certified funds.

No person shall advance less than $1,000.00 at any bidding at the sole discretion of the auctioneer and no person shall retract his bid and all bids shall be unconditional.

The highest bid plus the buyer’s premium at the auction shall represent the full purchase price of the property (the “Purchase Price”). Example: $100,000.00 plus 5% buyers premium = (The purchase price $105,000.00) GST applicable on buyer’s premium.

The highest bidder shall be the potential purchaser (the “Purchaser”), subject to mortgagee's approval. When a property is offered subject to approval the auctioneer shall close the bidding to the high bidder at the amount bid plus buyer’s premium. If the mortgagee is present at the auction he or she will have the option to accept or refuse his or her high bid. In the event the mortgagee accepts the high bid the Auctioneer will publicly declare that the property has been sold or the high bid has been refused. In the event the mortgagee is not available on the day of the auction the high bidder will be notified within 24 hours wether or not their bid has been accepted.  

Global Assets Solutions Inc. of Oakville, Ontario is acting solely as agent for the Vendor and not in any other corporate or personal capacity. By executing this agreement, the purchaser agrees and confirms it understands that Global Assets Solutions Inc. is acting as agent only and not in any other corporate or personal capacity. The Purchaser agrees to release and discharge forever Global Assets Solutions Inc. its representatives, principals, agents, successors and assigns from any losses, damages, costs or claims of any nature arising out of Global Assets Solutions Inc. auctioning of or dealing with the Property (as defined below) including any negligence on behalf of Global Assets Solutions Inc. Further, the Purchaser agrees and confirms that it has not relied upon any representations with respect to the Property by Global Assets Solutions Inc. its representatives, agents, principals, assigns and successors.

                       The Purchase Price shall be payable as follows:

A deposit of 10 % of the high bid (hammer price) payable by the Purchaser to Global Assets Solutions Inc. by means of cash or certified cheque on or before 3 o'clock in the afternoon of Monday the 24th, day of November, 2008. Pending completion or other termination of this Agreement and to be credited towards the Purchase Price on completion;

The balance of the Purchase Price shall be paid in full upon completion of the transaction subject to usual adjustments. All amounts payable by the Purchaser to the Vendor shall be in cash, bank draft or by certified cheque.

This Agreement shall be completed on or before the _____ day of ____________ 2008.

Global Assets Solutions Inc. the Vendor and the Purchaser agrees that there is no condition, expressed or implied, or representation or warranty of any kind and that the future intended use of the Property by the Purchaser is or will be lawful.  The Property is being sold "as is" and there is no warranty or representation as to compliance with development agreements or completion of any Plan of Subdivision, the presence or absence of contaminants (as such term is defined pursuant to the Environmental Protection Act (Ontario) on, in or about the Property; the discharge of contaminants from, on, or in relation to the Property; the existence, state, nature, identity, extent or effect of any administrative orders, control orders, stop orders, compliance orders or any other orders, proceedings or actions under the Environmental Protection Act (Ontario), the Ontario Water Resources Act (Ontario), or any other applicable law in relation to the Property, nor the existence, state, nature, kind, identity, extent or effect of any liability on the Purchaser to fulfil any obligations with respect to the environmental condition or quality of the Property. The Purchaser acknowledges that it accepts the Property subject to its environmental condition and any contamination, whether or not such environmental condition or contamination is known to the Vendor prior to the date hereof, and acknowledges that the Purchaser will have no recourse against the Vendor or Global Assets Solutions Inc. for any such pre-existing environmental conditions or contaminations. 

The Purchaser is to purchase the Property which is the subject of this agreement as it exists at the date of the completion of the purchase and sale and the Vendor makes no representation and no warranty of any kind in respect to any defects (including inherent defects) in workmanship, material, and any item of construction which has not been completed and the Vendor shall have no responsibility to complete any unfinished work or remedy any defect.

The Purchaser shall not call for the production of any title deed, abstract, survey or evidence of title to the property except such as are in the possession or control of the Vendor. Should the Vendor be unable to convey title for any reason, this agreement shall be at an end and the deposit returned to the Purchaser without interest.  There is no representation or warranty by the Vendor with respect to any improvements on the property.

The Purchaser hereby warrants that he (she, it) is not a non-resident of Canada pursuant to the Land Transfer Tax Act.

If the Purchaser shall neglect or refuse to comply with the above conditions, his or her deposit shall be forfeited.

If this transaction is subject to Goods and Services Tax (G.S.T.), then such G.S.T. shall be paid in addition to and not included in the purchase price, and shall be collected and remitted in accordance with applicable legislation. All legal fees are the purchasers and the vendor’s responsibility.

HAVE A GREAT DAY