Pace Glass, Inc. - Glass Recycling & Sorting Equipment

Pace Glass, Inc.
Timed Online Auction Ends:  Wednesday, April 13^th @ 11AM
Inspection:  By Appointment.

Assets to be sold:
A group of equipment consists of all the machinery and equipment related to the sorting and recycling of glass cullets located in and the facility in Jersey City, NJ.  This equipment is being offered As-Is, Where-Is in one single auction lot.

Successful Bidder’s Responsibilities:
The successful bidder will be required to utilize a qualified and licensed rigger and any other related contractors for the own removal of the equipment.  The equipment is housed within a modular steel building which will need to be deconstructed in order to safely remove the equipment to be sold.  The buyer will need to address the dismantled building together with the rigging of the equipment and related components.  Successful bidder is not responsible for the removal of the processed glass or concrete barriers which are situated outdoors, on the property.

The buyer will be required to adhere to all applicable laws and ordinances that govern its conduct on and near the premises, whether in connection with the destruction of the building, the removal of the equipment, or otherwise.  The buyer will be responsible for any damage that it may cause to the streets and sidewalks, fire hydrants, neighboring properties, power lines and other utility equipment, and will be responsible for obtaining all government-issued permits and other authorizations that may be required, as well as commercially reasonable insurance for its operations and personnel.  The landlord will not be responsible for any injuries, property damage or other losses suffered by the buyer or its agents or personnel.

Insurance:

The successful bidder will be required to provide a Certificate of Insurance naming the court appointed Assignee, Auctioneer & Landlord additionally Insured.

Allotted Time for Removal:
(6) months from the date of court approval.

Terms and Conditions

REGISTRATION
A valid credit card is required in order to confirm bidders identity and will remain on file.

PAYMENT
Successful bidder will be required to post a $100,000 deposit via wire transfer by 4PM April 14th, 2022.  Balance of payment will be due via wire transfer within 72 hours of Court Hearing to be held on April 20th, 2022.

COURT APPROVAL
Final sale is subject to a court approval hearing to be held on April 20th, 2022 at Sussex County, NJ Superior Court, Chancery Division, Probate Part in Newton, NJ.  (The purpose of the sale hearing is to confirm the sale "Free & Clear" of any liens, claims or incumbrances.) 

BUYER PREMIUM
A 15% Buyer Premium applies.

SALES TAX
No Sales Tax.

PICK UP DEADLINE
All items must be removed from the premises within (6) weeks of court approval.  Successful bidder will be required to utilize the services of an insured and licensed rigger for removal and provide a Certificate of Insurance indemnifying auctioneer, landlord, assignee and attorney of any liability in connection with removal of said equipment. 

As-Is, Where Is
The auction inventory is being sold, "As-Is, Where-Is".  Neither Seller nor Auctioneer make any representations or warranties about the condition of the equipment.  Neither Seller not Auctioneer represent that the equipment is fit  for the Buyer’s purpose for  purchasing the equipment.  Buyer assumes all risks with respect to the purchase of the equipment and/or  utilization of the equipment. No returns or adjustments will be made after the auction.

DISPUTES / DISCREPANCIES
A record of sale kept by the Auctioneer will be taken as final in the event of any dispute. In the event the auctioneer cannot release all or part of the lot, the extent of the auctioneer's responsibility will be to refund all monies paid in connection with the lot in question. Auctioneer records the sale by voice recorder. No adjustments will be made to an invoice once the inventory leaves the premises.

LIABILITY
All persons attending, inspecting or removing merchandise assume all risks whatsoever of damage or loss to person and property and specifically release the Auctioneer and Seller from all liability therefore. Auctioneer and Seller shall not be liable by reason of any defect in condition of the merchandiser premises on which the sale is held. 

Additional Terms of Sale may be announced by auctioneer on day of auction and a bid signifies acceptance of these Terms of Sale.