Fees, Payments and Deposits - Payment in full is due not later than three (3) business days from the time and date of the winning bid. Payment for property must be made in the form of Certified Cashiers Check, Money Order or Cash. Checks shall be made payable to the City of Ann Arbor, 111 N Fifth Ave., Ann Arbor, MI 48104. Attn Fire Department Payment will include cost of listing items on GovDeals which is a minimum of $5.00 or 7.5% of the bid price. The amount of payment will be the winning bid plus a minimum of $5.00 or 7.5% of the bid price. When the purchase price (of a single item or the aggregate purchase price of multiple items) totals $5,000 or greater, the City may require a down payment from the winning Buyer. This non- refundable fee will be 20% of the total purchase price. When the City exercises this option, the Buyer will have 48-hours from the time of the winning bid to comply with this requirement. If Buyer fails to comply with this requirement within the stated time frame, the City can declare Buyer in default. If Buyer is in default, City may negotiate with next closest bidder, re-list at another auction and/or pursue all legal proceedings. All monies collected in escrow, will be deducted from total monies due at time of final payment. Sales and Use Tax - All items for sale are subject to all applicable Michigan Sales Tax in accordance with Michigan Sales Tax Act, (P.A. 167 of 1933, as amended). If business or government entity is tax exempt, you must submit a Michigan Sales and Use Tax Exemption document at the time of bid. Buyers are responsible for contacting the appropriate tax office, completing any forms, and paying any taxes that may be imposed.