Auction Conditions of Sale 2020 Summary

This document provides a comprehensive overview of the standard conditions under which auction sales are conducted by the Municipal Council. Key points include:

• Bid Acceptance: Every bid is under the discretion of the Municipal Council for acceptance or rejection. This highlights the Council's prerogative to not only assess bids but also to decline them as per their judgment.

• Council's Rights: The Council reserves the right to reject all bids. This clause ensures the Council's authority in decision-making, underscoring the flexibility to reject bids in entirety.

• Decision Timeline: The Municipal Council is obligated to decide on the acceptance or rejection of bids by no later than the second regular meeting following the auction's conclusion. This provision sets a clear timeline for decision-making, aiming to provide bidders with a definitive timeframe.

• Automatic Rejection: If the Council does not take any action by the stipulated deadline, all bids are automatically considered rejected. This clause eliminates the necessity for further communication regarding bid status, streamlining the process.

The conditions outlined in this document are crucial for participants in the auction process, ensuring clarity on the procedural aspects and the decision-making authority of the Municipal Council.