TERMS OF SALE: The Mortgagee is auctioning the property located at 0 Main Street and 1022 Main Street, and the Mortgagee intends to solicit bids for the properties separately. Following that, the Mortgagee intends to solicit bids for the properties together and reserves the right to sell both parcels to the bidder who bits the most for the combined parcels. A deposit of TEN-THOUSAND ($10,00.00) DOLLARS will be required to be paid in cash, certified check or cashier's check of any bank or trust company doing business in the Commonwealth of Massachusetts, by the purchaser, at the time and place of sale as a deposit for 0 Main Street, and a deposit of TEN-THOUSAND ($10,00.00) DOLLARS will be required to be paid in cash, certified check or cashier's check of any bank or trust company doing business in the Commonwealth of Massachusetts, by the purchaser, at the time and place of sale as a deposit for 1022 Main Street. If the Mortgagee elects to sell both 0 Main Street and 1022 Main Street to the bidder who bids the most for the combined parcels, a deposit of FIFTEEN-THOUSAND ($15,000.00) DOLLARS will be required to be paid in cash, certified check or cashier's check of any bank or trust company doing business in the Commonwealth of Massachusetts, by the purchaser, at the time and place of sale as a deposit. A Memorandum of Sale (“Memorandum") shall be executed upon acceptance of the bid and all terms thereunder shall be binding upon the bidder, including the condition that should the high bidder for whatever reason fail to perform under the aforesaid Memorandum, in such event, the bidder shall forfeit the deposit in full which shall become the property of the Mortgagee. The Mortgagee reserves the right without further publication, advertisement or notification to offer the property to the second highest bidder (or other successive bidders, in order of their bid) under the same conditions set forth herein. The Mortgagee further reserves the right without further publication, advertisement or notification, to purchase the within described property at the amount bid by the second highest bidder. The terms of the Memorandum of Sale shall be announced prior to the bid. The balance of the bid price is to be paid in cash, certified check or cashier's check drawn upon any bank or trust company doing business in the Commonwealth of Massachusetts within thirty (30) days after the date of sale to be deposited in escrow by Road Glider Enterprises, LLC. Deed (which shall be in the form of the usual Mortgagee's Deed under the Statutory Power of Sale) to be delivered within three (3) days thereafter at which time it shall be the sole and exclusive responsibility of the successful bidder to cause the same to be recorded with the .Worcester County (Northern District) Registry of Deeds and Registered with Worcester County (Northern District) Registry of the Land Court in accordance with law.
Other terms, if any, to be announced at the sale.