Agreement to Bid

I, the undersigned, in consideration of the United States Government offering for public sale the property described below, agree to bid at least the amount of $210,000.00 for the property if offered for sale within 120 days from the date of this agreement.  

Property Description:   Lot  Twenty-Four (24), Block One Hundred and Sixty-Nine (169), PADRE BEACH SEXTION XI, an Addition to the Town of South Padre Island, Cameron County, Texas, according to the map thereof recorded in Volume 15, Page 41, of the Map Records, Cameron County, Texas.

Street Address:  122 Georgia Ruth, South Padre Island, Texas  78597

I authorize the enclosed deposit of $42,000.00 to be applied against the sale price if I am the successful bidder.

I further understand and agree that if I do not bid at least the amount specified in this agreement to bid and the property is not sold within the time specified above for at least such amount, my deposit will be retained pending final determination of the damages sustained by the Government because of the default.  If damages exceed the amount of the deposit, I will be liable for the excess damages.

  

I understand that the Government reserves the right to reject any and all bids, and to withdraw the property from sale.

     

Name (print)__________________________________

 

Address _____________________________________

 

City, State, Zip ________________________________

 

Telephone No._________________________________

 

Date_________________________________________

 

Signature_____________________________________