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SUMMARY FOR AUCTIONEER
Pursuant to an order entered June 4, 2009, by the U.S. District Court for the District of Alaska in KeyBank National Association v. Lee E. Baker, Jr., Patricia A. Baker, and the Vessel Discovery, Official No. 1069673, Case No. 3:08-CV-00146-JWS, Ron Alleva of Grubstake Auction Company, of Anchorage, Alaska, has been assigned and directed to sell the Vessel Discovery, Official No. 1069673, by public auction. There is a minimum bid of Ninety-Eight Thousand Five Hundred Dollars ($98,500), plus payment of a buyer's premium of ten percent (10%). The person whose bid is accepted as the successful high bid for the Vessel shall immediately pay the auctioneer the full purchase price, plus the buyer's premium of 10%. All bids are to be submitted to and handled by the auctioneer, The auctioneer has the authority to reject any bid that is not in compliance with the Court's June 4, 2009, order, or is not in compliance with the auctioneer's requirements for bidders to participate in the auction. No bids are to be made to the U.S. Marshal's Office. The sale of the Vessel at the public auction is subject to confirmation by an order of the Court to be entered subsequent to the auction, upon the application by plaintiff, KeyBank National Association. If the sale is not confirmed, then the amount paid by the successful bidder will be returned in full. Payment shall be made in cash or by cashier's check. The auctioneer will deliver the purchase price plus the 10% buyer's premium directly to the Court registry, or to the U.S. Marshal, for deposit with the Court. The sale shall be "as is, where is" with no warranty of any kind. The purchaser of the Vessel at the public auction must be a citizen of the United States and eligible to be a purchaser of the Vessel pursuant to applicable law, including 46 U.S.C. § 31329. After entry of the order of the Court confirming the sale to the purchaser at the public auction, the U.S. Marshal will then release the Vessel from arrest and issue a Bill of Sale to the purchaser.
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