BANKRUPTCY AUCTION BY ORDER OF BUNCE D. ATKINSON TRUSTEE FORMOSA HAMILTON INC. CASE # 1103-33-038-005 LIQUOR LICENSE - HAMILTON TOWNSHIP, NJ TUESDAY MARCH 27, 2018 AT 11:00 AM TERMS AND CONDITIONS OF SALE 1. You must be registered and issued a number to bid. At registration, the auction company will verify that you have in your possession the required $25,000 deposit in cash, certified or bank check. 2. All persons acknowledge to have full knowledge of these “Terms and Conditions of Sale” and agree to be bound thereby. The auctioneer reserves the right to add one or more to the following “Terms and Conditions of Sale” by announcement at the sale. No employee is authorized to alter these terms. If the purchaser fails to comply with any of the stated and printed “Terms and Conditions of Sale” included but not limited to full payment and method of payment the auctioneer at his option may declare the purchaser in default and retain all monies paid as liquidated damages. 3. A $25,000 deposit (TWENTY FIVE THOUSAND DOLLARS) DEPOSIT is required from the purchaser at the conclusion of the bidding. CASH, CERTIFIED OR BANK CHECK ONLY, drawn to the order of THE AUCTIONEERS GROUP. No other method of payment will be accepted. The successful bidder will also be required to sign a purchase agreement which will include all the terms and conditions at the conclusion of the bidding. 4. The high bid price is subject to the approval and acceptance of the trustee. Once approved, the successful bidder will have 48 hours to pay the complete purchase price balance. The balance of the purchase prices including the buyers premium of 5% and the pro rata license fees are due within 48 hours of notice of approval and must be paid in cash, certified, bank check, or wire transfer only. NO OTHER METHOD OF PAYMENT WILL BE ACCEPTED. In the event of a billing error the buyer is obligated to pay any deficiency upon presentation of a corrected bill. Auctioneers reserves the right to resolve any disputes regarding bids or bidders. 5. The conference room at the Mercer County Bar Association will be open at 10am for registration, document inspection, and review of the terms and conditions. The auction will begin at 11 am. Once the purchase price is approved by the trustee, THE SALE WILL BE FINAL. The license is not sold subject to transfer. Failure to transfer the license for any reason does not invalidate the purchase. Buyer represents that they have never been denied a liquor license and have never been convicted of a crime and knows of no reason why a transfer would be denied. 6. Buyer must apply for transfers of the license within 20 days of purchase. Time can be extended at the discretion of the trustee. 7. Buyer is responsible for the renewal fee if transfer is not completed by the renewal date of June 1, 2018 and is paid by the trustee. Additionally buyer shall be responsible for all legal fees incurred by the trustee to renew the license. 8. Buyer is responsible for the pro rata portion of the 2017 fee from July 1, 2017 to June 30, 2018. 9. If buyer defaults and does not transfer the license to buyer, buyer shall forfeit the $25,000 initial deposit. 10. Auctioneer reserves the right to resolve any dispute regarding bids or bidders. 11. Record of the sale is being kept by the auctioneer & bookkeeper and will be taken as final in the event of any dispute. 12. The sale is "as-is, where-is" with no warranties expressed or implied free and clear of all liens. This sale is subject to 5% buyer’s premium. Auctioneer reserves the right to reject any bid or bidder. THE AUCTIONEERS GROUP is acting solely as the agent for the sellers. THE AUCTIONEERS GROUP A.P. NATOLI / PETER COSTANZO (609) 693-6899 (732) 776-7222 www.theauctioneersgroup.com

THE AUCTIONEERS GROUP

A.P. NATOLI /PETER COSTANZO

(609) 693-6899  (732) 776-7222

www.theauctioneersgroup.com