Historic Midway Retail Building w/Apartment

99 E Main, Midway, UT 84049
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99 E Main, Midway, UT 84049
Auctioned: 10:00 AM Wednesday, August 28, 2013

For questions about this auction,
please contact Williams & Williams Customer Support 1.800.801.8003

99 E Main, Midway, UT 84049
336027 00--DH-BB/08-2013

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Historic commercial building w/retail space on the ground floor & an apartment above offers an exceptional opportunity to a new owner with its rich history and income producing potential. First named Bonner Mercantile Store, the original brick structure built in 1879-80 by renowned local builder, John Watkins as commissioned by the Bonner Brothers, is now stuccoed and forms the southeast corner of the building. Significant additions & improvements, including the upstairs 3BR apartment & additional retail space were made to the property spanning 1913-1986. The building remained in the Bonner family and served all the needs of the Midway community, selling everything from dry goods to chicken feed, horse shoes, nails, nuts and bolts, flour and canned goods, until 1972 when it was sold to Richard Nielson and became Nielson's Midway Mercantile. In the early 1990s the store changed hands several times until 2002 when it was purchased by the current owner.


See below for more details.
Property ID:336027

Auctioned: 10:00 AM Wednesday, August 28, 2013

Details: Although much changed over the years, according to the Utah Office of Preservation, this is the only remaining pioneer commercial building in Midway. This turn of the century building is located approx 20 min from Park City, Utah recently voted overwhelmingly as Outside magazine's 2013 Best Town and & is amidst several world-class ski resorts such as The Canyons and Deer Valley. Only 20 min from Sundance, Utah the location of the annual Sundance Film Festival originally founded in 1981 by Robert Redford. Less than one hour to Salt Lake City Int'l Airport.

The building, with 5,214+/- total square footage, is situated on a flat lot of approx 0.22ac at the NW corner of Main Street & 100 East Midway. It was renovated in 2008 w/new roof, plumbing & electrical. Current retail tenants include an art gallery & the Owner's antique shop.

The owner of this historic building has chosen to auction this property and enjoy the certainty of a time-definite sale.

Personal property does not convey.

Legal Description: Beginning at the intersection of the East line of Block 12, Midway Townsite Survey of Building Lots with the North line of Main Street at a point 2 rods Northerly from the Southeast corner of said Block 12, as originally laid out; and running thence Westerly, parallel to the North line of said Block 12, 73.5 feet; thence Northerly, parallel to the East line of said Block 12, 129.27 feet; thence Easterly following parallel to the North line of said Block 12, 73.5 feet to the East line of said Block 12; thence Southerly following on and along the East line of said Block 12, 129.27 feet to the place of beginning. Said property is also known by the street address of: 99 East Main Street Midway, UT 84049


Auctioned: 10:00 AM Wednesday, August 28, 2013


Disclosures: Down Payment - Buyer and Seller agree that the Down Payment shall be deposited with the Closing/Title Agent identified herein upon Seller's acceptance of the offer. In the event no Closing/Title Agent is identified, the parties agree that the Down Payment shall be held by Williams & Williams, and transferred to the Closing/Title Agent upon acceptance by the Seller and appointment of the Closing/Title Agent.



Personal Property Not Included. Personal Property will not convey with the real estate and will be removed prior to Closing. Buyer may negotiate with the Seller directly regarding purchase of business inventory outside of the real estate transaction. Any such negotiation regarding same shall not be a contingency of nor otherwise affect the Buyer's high bid at auction of the real estate. Removal of personal property remaining on site at the time of closing is the responsibility of the Buyer.


Disclosures: Down Payment - Buyer and Seller agree that the Down Payment shall be deposited with the Closing/Title Agent identified herein upon Seller's acceptance of the offer. In the event no Closing/Title Agent is identified, the parties agree that the Down Payment shall be held by Williams & Williams, and transferred to the Closing/Title Agent upon acceptance by the Seller and appointment of the Closing/Title Agent.



Personal Property Not Included. Personal Property will not convey with the real estate and will be removed prior to Closing. Buyer may negotiate with the Seller directly regarding purchase of business inventory outside of the real estate transaction. Any such negotiation regarding same shall not be a contingency of nor otherwise affect the Buyer's high bid at auction of the real estate. Removal of personal property remaining on site at the time of closing is the responsibility of the Buyer.
Terms of Sale:

Registration at the commercial auction finalizes each bidder's agreement to the terms and conditions of sale as stated in the Contract and its Addenda which are incorporated by reference into your bidding. DO NOT BID unless you have registered and received a Bidder's Card and Sale Day Notes and agreed to be bound by the terms of sale in the Contract as they are final upon you becoming a high bidder.

All properties are sold "AS IS, WHERE IS" with no financing, inspection or other contingencies to sale. Williams & Williams represents the Sellers only and does not inspect properties on bidder's behalf. Do not bid if you have not inspected the property(s). By bidding you agree to all disclosures.

Buyers receive a deed and Title Insurance Policy as provided by the Closer indicated in the Contract (any mobile/manufactured housing not legally affixed to the property shall only be conveyed by a Hold Harmless Agreement or Quit Claim Bill of Sale unless otherwise noted in the Disclosures). Current year's taxes are pro-rated through day of closing as is customary.

A Buyer's Premium (Buyer's Fee in WI) of 3% ($2,500 minimum) will be added to the high bid and included in the total purchase price.

Each high bidder must make a 10% ($5,000 MINIMUM - whichever is greater) non-refundable deposit per property immediately following auction. Cash, cashier's checks, personal checks and business checks (electronically processed) are accepted. The balance of the purchase price and all closing costs are due within 30 days. Closing costs generally total approximately $1,500 and include, but are not limited to, title exam, title policy, closing fee and filing costs.

Bidding starts at the nominal Opening Bid(s) indicated and is open to the public. The Auctioneer reserves the right to group, add to, delete, withdraw, consolidate or break down lots and/or quantities offered, to sell out of scheduled sequence, to reject any bid which is only a fraction advance over the preceding bid, to regulate bidding, to accept or reject any or all bids, and to cancel or re-schedule an auction. The Auctioneer will call the sale and control any increments of bidding. To make a bid, raise your hand or Bid Card to be recognized. The bidding usually takes less than 3 minutes for each property. Absentee bids may be accepted at the discretion of the Auctioneer. The Auctioneer reserves the right to enter bids on behalf of absentee bidders as specified in 21 NCAC 4B. Any mistakes during bidding as to who has the high bid and/or at what price may be called to the Auctioneer's attention and corrected. The Auctioneer is the sole arbiter and controller of the conduct of the auction and shall be the final and absolute authority without liability to any party.

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All auctions are subject to court or seller approval. Most sales are approved within 7 business days. Buyers are not allowed possession until filing of the deed, at which time the property should be re-keyed.

If more than one property is being auctioned, the Auctioneer may choose to offer a group of the properties for auction at the same time. This is called "BUYER'S CHOICE" and is to accommodate buyers who have an interest in more than one property and/or have 2nd and 3rd choices if they are out bid for a favorite property. Upon winning the bid, please choose which property, or properties, you want. You pay the high bid price for each property selected. Each sale is final and stands alone. Remaining properties are then offered in another round of bidding. Anyone may bid at any time, including prior High Bidders.

Williams & Williams and the Seller expressly disclaim any liability for errors, omissions or changes regarding any information provided for these sales. Potential purchasers are strongly urged to rely solely upon their own inspections and opinions in preparing to purchase property and are expressly advised to not rely on any representations made by the seller or their agents. Property information may change without notice and potential purchasers should investigate all data fully before relying upon it.

Auction Network
TERMS & CONDITIONS OF SERVICE

The property offered in this auction will be offered and sold by Williams & Williams Marketing Services, Inc. ("Williams & Williams"). Any questions regarding the auction process or a property should be directed to Williams & Williams or its designated representative. Auction Network, LLC ("Auction Network") serves solely as the online bidding service (the "Service") for Williams & Williams. Your use of the Service is governed by these Auction Network Terms & Conditions of Service, and the Auction Network Terms of Use located at the following URL: http://www.auctionnetwork.com/Site/TermsOfUse.asp, as amended from time-to-time by posted notices or oral announcements made during any auction.

Williams & Williams serves as the auctioneer, and represents the owner of the property at auction. The auction and conveyance of each property shall be governed by property specific Contract for Sale, Sale Day Notes, Disclosures, and the Williams & Williams Terms & Conditions of Sale. These documents govern your bid and the sale of each property, and can be accessed and reviewed at the Williams & Williams property specific web page.

DO NOT BID unless you have read the Williams & Williams Terms & Conditions of Sale, the Contract for Sale, Property Disclosures, and the Sale Day Notes for each property. BY PLACING YOUR BID, YOU AGREE TO BE BOUND BY THE PROPERTY SPECIFIC CONTRACT FOR SALE, DISCLOSURES, SALE DAY NOTES, AND THE WILLIAMS & WILLIAMS TERMS & CONDITIONS OF SALE.

Auction Network, Williams & Williams and the Seller are not responsible for technical difficulties during online or remote bidding. Occasionally, the Auction Network online bidding interface may be unable to submit bids in the live auction due technical difficulties including, without limitation, the lack of sufficient communication infrastructure at the location of the live auction. Online bidders are advised to place an absentee bid at least 1 day prior to the live auction to ensure their bid is entered into the live auction on the online bidder's behalf.

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Neither Auction Network nor Williams & Williams assumes any risk, liability or responsibility for the authenticity of the authorship of any property or livestock offered at this auction (that is, the identity of the creator or the period, culture, source or origin, or lineage, as the case may be, with which the creation of any property is identified).

The auctioneer has the right at his or her absolute and sole discretion to refuse any bid, to advance the bidding in such a manner as he or she may decide, to withdraw or divide any lot, to combine any two or more lots and, in the case of error or dispute, and whether during or after the sale, to determine the successful bidder, to continue the bidding, to cancel the sale or to reoffer and resell the item in dispute. If any dispute arises after the sale, our sale record is conclusive.

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These Auction Network Terms & Conditions of Service, Terms & Conditions of Use, Williams & Williams' Terms & Conditions of Sale, as well as the online buyer's rights and obligations hereunder, shall be governed by and construed and enforced in accordance with the laws of the State of Oklahoma. By bidding at this auction, whether in person or by agent, order bid, telephone, online, or other means, the buyer shall be deemed to have consented to the exclusive jurisdiction of the state and federal courts sitting in the State of Oklahoma.

You are registering to bid on the following properties, and as stated above, your bid, and the sale of the property, will be governed by the property specific Williams & Williams Contract for Sale, Disclosures, Sale Day Notes, and Terms & Conditions of Sale. Each of these documents are available for your review at the Williams & Williams property specific web page. DO NOT BID unless and until you review these documents. BY PLACING YOUR BID, YOU AGREE TO BE BOUND BY THE PROPERTY SPECIFIC CONTRACT FOR SALE, DISCLOSURES, SALE DAY NOTES, AND THE WILLIAMS & WILLIAMS TERMS & CONDITIONS OF SALE.



Legal Description: Beginning at the intersection of the East line of Block 12, Midway Townsite Survey of Building Lots with the North line of Main Street at a point 2 rods Northerly from the Southeast corner of said Block 12, as originally laid out; and running thence Westerly, parallel to the North line of said Block 12, 73.5 feet; thence Northerly, parallel to the East line of said Block 12, 129.27 feet; thence Easterly following parallel to the North line of said Block 12, 73.5 feet to the East line of said Block 12; thence Southerly following on and along the East line of said Block 12, 129.27 feet to the place of beginning. Said property is also known by the street address of: 99 East Main Street Midway, UT 84049
Property
99 E Main,
Midway, UT 84049
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