Notice of Public Sale
Under Illinois
Uniform Commercial Code
Pursuant to Section 9-601 of the
Illinois Uniform Commercial Code and 735 ILCS 5/2-1402(e), the following
described property will be sold by Dryco Group Explosion Proof
Equipment, LLC (hereinafter referred to as Seller), at public sale on
May 10, 2013 at 1:00 P.M. in the offices of Schopf & Weiss LLP,
28th Floor, One South Wacker Drive, Chicago, Illinois 60606:
Three (3) explosion proof dehumidification units (480
volts) belonging to judgment debtor Maximoff Advanced Engineering Systems and
Technologies, Inc., bearing serial numbers:
5-09-H-SS-480-0003
5-09-H-SS-480-0004
5-09-H-SS-480-0005.
One (1) 50% ownership interest in U.S. Patent No. 7,308,398
for a dehumidification system.
No representations or warranties are made as to the condition of the
aforementioned property, the condition of title thereto or the value
thereof. Units are available for
inspection upon request.
TERMS OF PUBLIC SALE
Subject to the terms hereinafter set
forth, the above described property will be sold to the highest bidder. There shall be a 25% deposit with bid and
balance of the bid price to be paid no later than 24 hours after acceptance of
any bids. All funds shall be paid in
cash, certified or cashier’s check payable to Dryco Group Explosion Proof
Equipment, LLC.
If a successful bidder defaults on
balance, the Seller may forfeit initial deposit and, at Seller’s option sell to
the next highest bidder. Seller reserves
the right to bid at sale without cash, certified check or cashier’s check
deposits as required for other bidders.
Seller reserves the right within twenty-four hours of completion of
bidding to reject all bids. Disposition of
said property pursuant to said public sale transfers to a purchaser for value
all of the rights of the debtor therein and discharges the security interest
under which it is made and any security interest or lien, if any, subordinate
thereto, the purchaser taking said property free of all such rights and
interest, the purchaser to receive upon payment of balance a certified copy of
a report of sale evidencing purchaser’s right, title and interest in and to
said property. Seller makes no
representations or warranties as to the condition of the aforementioned
property, the condition of title thereto or the value thereof.
Persons wishing to inspect the property
in question or desiring other information may call Anand C. Mathew, Schopf
& Weiss, LLP, by telephone at (312) 701-9300, or by electronic mail at mathew@sw.com.