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Case 14-33427 Doc 256 Filed 12/14/15 Entered 12/14/15 15:37:17 Desc Main <br />Document Page 7 of 17 <br />Payment Date: The third (3rd) business day after the Effective Date. <br />Payment Method: <br />Purchase Price and Deposit: <br />As Is, Where Is: <br />Commissions and Fees: <br />Sale Process: <br />All payments shall be by wire transfer pursuant to <br />instructions provided by FRC's counsel to Purchaser. <br />The Purchaser shall pay $87,000 cash for the Personal <br />Property, with such payment to be free and clear of all <br />liens and encumbrances. Purchaser shall comply with <br />the pre -auction bid procedures applicable to any other <br />interested bidders as such procedures are published by <br />the Debtors in advance of the auction, provided, <br />however, that this agreement shall constitute <br />Purchaser's opening bid. <br />The sale of the Personal Property shall be on an "as is, <br />where is" basis without any representations or <br />warranties of any kind, nature and description. <br />Purchaser shall be responsible for the payment of any <br />and all commissions, brokerage fees, finder's fees, <br />agent fees and the like associated with, arising from or <br />related to the sale, regardless of origin so that the <br />Debtors receive a net purchase price payment of <br />$87,000, and Purchaser shall indemnify and hold the <br />Debtors harmless from any and all such fees and <br />claims. Debtors are informed by Purchaser that <br />Purchaser already has paid all commissions, brokerage <br />fees, finder's fees, agent fees and the like in the <br />amount of $3,150.00. <br />The sale of the Personal Property shall be subject to <br />higher and better offers, after appropriate notice as <br />determined by the Bankruptcy Court, provided, <br />however, that any higher and better offer must exceed <br />the Purchaser's purchase price by at least $5,000.00; <br />the Purchaser shall have the right to competitively bid <br />for the assets at an auction on the same terms as other <br />bidders. In the Debtors' discretion, the Personal <br />Property may be sold in one or more lots, and in any <br />order desired by the Debtors to generate the highest <br />and best aggregate price. At any time prior to the <br />entry of an order by the Bankruptcy Court approving <br />the sale, the Debtors may withdraw this Agreement, or <br />cancel the sale, in their sole and absolute discretion. <br />Removal of Personal Property: Within 90 days after entry of the order of the <br />Bankruptcy Court approving the sale, the Purchaser, at <br />26533488 <br />2 <br />