Turning Dirt To Gold

Bankruptcy Auction
Radio Station, Frequency & Tower

by Rowell Auctions, Inc.

When

Jul 24, 2014 - 2:00 pm Eastern

Where

2416 Dawson Rd
Albany, GA

How

Online Only Auction

Share this Auction

Conducted By

Rowell Auctions, Inc.

P.O. Box 3428
Moultrie, GA 31776

1-800-323-8388

http://www.rowellauctions.com

Ending Time

Jul 24, 2014 2:36 PM

Auction Listing

BANKRUPTCY AUCTION

Selling by Order of the United States Bankruptcy Court!

Radio Station, Frequency, and Tower

 

Auction Date:  Thursday, July 24, 2:00 PM

Property:  Lamad Media Ministries a division of Lamad Ministries, Inc

Tower Address:  280 June Lane, Dawson, Georgia 39842 (Terrell County)

Station Address:  2416 Dawson Road, Albany, GA   31707

Assessor’s Parcel Number:   D15 133 Terrell County

Tower Parcel Size (Acres):  2.424 +/- Acres

Tower GPS Coordinate:  31° 38' 42" N,  84° 21' 15" W

Tower Google Map Link:    https://goo.gl/maps/FwKYV  

Directions the Tower:  In Albany at the intersection of Liberty Expressway / US Hwy 82 and Dawson Road, head southeast on Dawson Road toward. Pointe N. Blvd for 2/10 miles.  Take the 1st right onto Pointe N. Blvd and travel 5/10 miles to Old Dawson Road.  Turn right onto Old Dawson Road and travel 7.2 miles staying on Old Dawson Road.   Turn right onto Tallahassee Road and travel 2.2 miles to June Lane on the left.  Turn Left onto June Lane and travel 2/10 miles to the tower location.  Watch for Auction Signs!

Taxes (2013):     Currently tax exempt

Studio Location:  2416 Dawson Road, Albany Georgia

Radio Station Website:  http://www.wwvothevoice.com

Important Selling Features: 

Radio Tower:  The tower and transmitter are located on 2.424 +/- acres off June Lane near Dawson, GA. The GPS coordinates for the tower are 31° 38' 42" N,  84° 21' 15" W.  The overall tower height above ground is 97.8 meters.  Located at the tower site is a small transmitter building that contains the tower rack mixing board, emergency broadcast system, satellite downloader, microphones, cable modem, DOS formatted time scheduler, and a tube style transmitter.  The tower also has two existing leases that total $1300 per month and are viewable in the documents section.  If the tower sells separately from the Radio Station / Frequency the purchaser of the tower agrees to rent space on the tower to the purchaser of the radio station for $700 per month.  For more information on the tower please click the following link:  http://transition.fcc.gov/fcc-bin/fmq?list=0&facid=36447

Radio Station / Frequency:  “The Voice”, WWVO 90.7 MHz is a 5500 Watt Licensed Class A Non-Commercial FM Station.  The station format is Gospel Music.  Radio station equipment at the studio location includes;  Two computers and server, soundboard, voice modulator, computer in book keeping area, assorted desk tables and chairs, assorted CD’s.  The radio station and associated equipment are located at 2416 Dawson Road and are only available for inspection by appointment.  The website for the radio station is http://www.wwvothevoice.com.   For detailed FCC information click the following link:  http://www.fcc.gov/encyclopedia/fm-query-broadcast-station-search

For More Information Please Contact:

Mark L Manley, CAI, AARE
Rowell Auctions, Inc.
[email protected]
(229) 891-1377

 

 

 


Contract for Sale of Real Property: Each property is offered under the specific terms provided in the contract. The Contract for Sale of Real Property is available at the auction site and at www.rowellauctions.com, in the pre-bid package located from within the “View Documents” tab. Please read and review the contract thoroughly prior to bidding on any property. If you have not read and reviewed the Contract for Sale of Real Property, Do Not Bid!

INTERNET BIDDING INCREMENTS
Range Minimum Range Maximum Increment
$1,000.00 $5,000.00 $100.00
$5,000.00 $10,000.00 $250.00
$10,000.00 $25,000.00 $500.00
$25,000.00 $50,000.00 $1,000.00
$50,000.00 $75,000.00 $1,500.00
$75,000.00 $100,000.00 $2,000.00
$100,000.00 $250,000.00 $2,500.00
$250,00.00 $500,000.00 $5,000.00
$500,000.00 $500,000.00+ $10,000.00

Rowell Auctions, Inc. has the sole authority to resolve any bidding disputes as they may arise.

Auction End Times: All Rowell Auctions, Inc. Online Real Estate Auctions are timed events and subject to extended bidding due to bidding activity. Rowell Auctions, Inc. reserves the right to adjust the auto extension time period.

Example: Rowell Auctions, Inc. Online Real Estate Auctions have a “Dynamic Close” auto extend feature. Once the bidding reaches 5 minutes before the scheduled bid closing, the “Rowell Dynamic Close” will begin. Upon receiving the first bid with under 5 minutes remaining, the bid closing will have an additional 5 minutes added. At that point the countdown continues. Example: If an auction scheduled to end at 2:00 p.m. receives a bid at 1:56 p.m., the close time of the auction automatically extends to 2:05 p.m. The auto-extend feature remains active until no further bids are received on the entire bidding group of properties within the 5 minute time frame.

Bidder Verification: The identity of all bidders will be verified, bidding rights are provisional, and if complete verification is not possible, Rowell Auctions, Inc. will reject the registration, and bidding activity will be terminated.

Terms: At the close of the auction, successful bidders will be emailed the contract package to execute and return to Rowell Auctions, Inc. Successful bidders will deposit 10% of the contract price in the form of cashier's check or bank wire transfer with Rowell Auctions within 24 hours of receipt of the contract package. The entirety of the remaining balance is due at closing as stipulated in the “Contract for Sale of Real Property”. Purchaser shall be responsible for all wire transfer fees.
Buyer's Premium: A 10% Buyer’s Premium will be added to the bid price on all properties to determine the final contract price.

10% Buyer's Premium Example:
Bid Price: $100,000
Plus 10% Buyer's Premium: $10,000
Total Contract Price: $110,000

The conveyance of the property from the seller is subject to the conditions contained in the Deed of Gift from Larry M. Frith to Lamad Ministries, Inc. dated December 30, 1988 and recorded in Deed Book 3-K Pages 702 and 703. A copy attached in the documents as Radio Station Exhibit.

Contracts: Contract Packages will be sent by email to the successful high bidder at the conclu-sion of the auction. Successful high bidder must execute and fax or email back to Rowell Auctions, Inc within 24 hours of receipt. Successful high bidders not executing and returning their contract with earnest money deposit within 24 hours of receipt will be considered in default and subject to an Administrative Fee (as defined below). All Administrative Fees are non-refundable.

Auction Administrative Fee: In the event a winning bidder fails to submit the signed 'Contract for Sale of Real Property' and deposit earnest money as provided in the pre-stipulated Auction Terms, the winning bidder will be charged an administrative fee of $2,500.00 on the credit card provided at auction registration. Additional default remedies are reserved by Rowell Auctions, Inc. and the Seller as provided in the Auction Terms & Conditions and the 'Contract for Sale of Real Property'. All administrative fees are non refundable.

Closing: Time being of the essence, these sales shall be closed on or before 30 days from bank-ruptcy court approval. The Lamad Auction Confirmation Hearing is set for August 5, 2014 at 3:00pm in Albany, Georgia. The purchaser will pay for all closing costs associated with the trans-action. The 2014 ad valorem taxes will be prorated as of the date of closing. (Please refer to the Contract for Sale of Real Property)
Software and Server Technical Issues: In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Rowell Auctions, Inc., reserves the right at its sole discretion to extend bidding, continue the bidding, or close the bidding. THE COMPANY PROVIDING THE SOFTWARE nor Rowell Auctions, Inc. WILL BE HELD RE-SPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. Email notifications are sent to registered bidders with updated information as deemed necessary by Rowell Auctions, Inc.

Refresh Bidding: Refresh your screen constantly during the closing minutes of the bidding, or En-able the Auto Refresh feature
Agency Disclosure: In all transactions, Rowell Auctions, Inc. is acting as agent for the seller, not as buyer's agent. Rowell Auctions, Inc. reserves the right to remove or cancel the bids and or bid-ding rights and privileges of any party, deemed not to be in the best interest of the seller, at any time. At auctions with reserve, the seller and/or auctioneer reserves the right to bid. On all other auctions, auctioneer reserves the right to bid on auctioneer’s behalf when permitted by law.

Disclaimer: All information contained herein is believed to be correct to the best of the auctioneer's knowledge. The information is being furnished to bidders for the bidder's convenience and it is the responsibility of the bidder to determine that information contained herein is accurate and complete. Any reliance on the contents shall be solely at the recipient’s risk. Bidders must conduct and rely solely upon their own investigations and inspections. The property is being sold 'AS IS' with any and all faults. Please review all information supplied, and seek appropriate assistance prior to bidding.

In Albany at the intersection of Liberty Expressway / US Hwy 82 and Dawson Road, head southeast on Dawson Road toward. Pointe N. Blvd for 2/10 miles. Take the 1st right onto Pointe N. Blvd and travel 5/10 miles to Old Dawson Road. Turn right onto Old Dawson Road and travel 7.2 miles staying on Old Dawson Road. Turn right onto Tallahassee Road and travel 2.2 miles to June Lane on the left. Turn Left onto June Lane and travel 2/10 miles to the tower location. Watch for Auction Signs!