Bankruptcy Auction of McMahon’s Prime Steakhouse – Tucson, AZ

NOTE: Special terms and conditions take precedence over these GENERAL terms and conditions. For example, most real estate auctions will have special or additional terms and conditions.

REGISTRATION: All bidders are required to register and provide the necessary information requested. A major credit card is required to bid online. A $25 hold will be placed on the bidder’s credit card account. Said hold will be reversed within 48 hours of the end of the auction if an unsuccessful bidder. If you are a successful bidder, the hold will remain until payment has been made in full. Bidders are responsible for all purchases made with his/her number, whether by the registered bidder or by anyone he/she might allow to use their number.

TERMS: All purchases require PAYMENT-IN-FULL prior to removal and before 2:00pm Arizona time on second business day following the auction at 6502 N. 27th Ave., Phoenix, AZ. CASH, CASHIER’S CHECK, WIRE TRANSFERS, or CERTIFIED FUNDS accepted. We no longer accept credit cards.

BUYERS PREMIUM FOR BANKRUPTCY ITEMS: No Buyer’s Premium.

BUYERS PREMIUM FOR ALL OTHER ITEMS: 10% for buyers paying with cash or cashier's check.

SALES TAX: For general assets and rolling stock, unless an Arizona tax resale license is provided at time of payment, the purchaser will be required to pay the combined Arizona State and local sales tax totaling 8.3%. There is no sales tax on real estate.

DEFAULT: In default, the second highest bidder will be given the option to become the successful bidder at his/her last bid. The bidder in default will be responsible for the difference in the bids, or the entire amount of his/her bid should the second highest bidder not take the option to become the successful bidder. The default bidder will also forfeit his/her deposit. A service charge of 1-1/2% per month, 18% APR, will be added to all overdue accounts. The bidder in default is also liable for all legal and collection fees.

PAYMENT DEADLINE: An account becomes overdue at 2:00pm Arizona Time on the second business day following the auction if the total has not been paid in full.

NO WARRANTY: There is no warranty relating to title, possession, quiet enjoyment or the like in this disposition. Everything in this auction is being sold ""AS IS - WHERE IS"" to the highest bidder, without warranty or guarantee of any kind. ALL SALES ARE FINAL. Cunningham & Associates, Inc. is not responsible for missing or broken items after the auction has ended. ABSOLUTELY NO REFUNDS.

CONDITION OF ITEMS SOLD: The auctioneer shall not be responsible for the correct description, authenticity of, or defect in any lot, and makes no warranty in connection therewith. No allowance will be made or sale set aside on account of any incorrectness, error in cataloging, or any imperfection not noted. No deduction will be allowed on damaged articles as all goods being exposed for public exhibition are sold ""as is"" and without recourse. Vehicle emissions on items sold are the sole responsibility of the purchaser.

DEPOSIT: $25.00 authorization will be placed on your credit card to verify identity and your ability to pay. This authorization will be reversed to you upon full payment for your purchases or if you are not a winning bidder. You are responsible for all purchases made with your number. You acknowledge and agree that you have read and fully understand the Terms and Conditions of this Auction, and agree to be bound thereby.

SALES LIST: The sales list is furnished by the auctioneer as a guide only. No guarantee as to the accuracy or description is made. Deletions and additions may take place.

REMOVAL: All items require PAYMENT-IN-FULL and an authorized receipt prior to removal. Items should be removed from the premises by 4:00 PM the second business day following the auction. Larger items that require special equipment to remove have will be granted additional time, but removal must be scheduled by appointment. Removal shall be at the expense, liability and risk of the purchaser. Cunningham and Associates, Inc. provides assistance in finding your assets for load-out. C&A associates may help you load your assets although it is YOUR responsibility to bring your own assistance to load-out the items you have purchased. It is a courtesy to help you load out, ONLY if time permits. Our personnel are not required to help you load-out.

NOTE: Even if items are paid in full, they are deemed abandoned at 4:00PM the second business day following the auction and become the property of Cunningham & Associates, Inc.

STORAGE FEES: A $15.00 storage fee per lot will be charged per day if the items are not picked up by the second business day following the auction. Storage fees must be paid prior to removal of the items.

SHIPPING: Bidders are responsible for the shipping of all items purchased.

PERSONAL AND PROPERTY RISK: Persons attending the auction preview, during exhibition, or at the time of removal of purchases all risks of damage of or loss to person or property and specifically release the auctioneer from liability therefor. Neither the auctioneer nor his principal(s) shall be liable by reason of any defect in, or condition of, the premises at which the preview or sale is held.

DISPUTE BETWEEN BIDDERS: If any dispute between bidders occur, the auctioneer may decide to put the lot up for sale again. The auctioneer’s decision is final and absolute.

THE BIDDER MUST UNDERSTAND WHAT HE/SHE IS BIDDING ON AND HOW IT IS BEING SOLD. NO REFUNDS.

ADDITION TO OR WITHDRAWAL FROM SALE: The auctioneer reserves the right to withdraw from the sale any property listed and also to add property not listed to the sale. The auctioneer reserves the right to sell the property listed in bulk.

RECORD: The record of sale that is kept by the auctioneer or his clerk will be taken as final word in the event of a dispute. "