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 $125,000.00 for the property if offered for sale within 120 days from the date of this agreement.
Property Description: All ofLot 8, Mercedes Industrial Park Amended, an Addition to the City of Mercedes, Hidalgo County, Texas, according to the map recorded in Volume 30, Page 110-B, Map Records in the Office of the County Clerk, Hidalgo County, Texas, reference to which is here made for all purposes.
I authorize the enclosed deposit of $25,000.00 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.
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