Under the authority granted in N.J.S.A. 54:49-13a and R.S. 33:1-26, the property to be sold was seized for unpaid State taxes due from:

5700 Atlantic Avenue Corporation
3426 Atlantic Avenue
Atlantic City, NJ 08401


PROPERTY FOR SALE:

State of New Jersey, County of Atlantic, City of Atlantic City
Plenary Retail Consumption Liquor License # 0102-33-080-005

LOCATION OF SALE:

City of Atlantic City
Council Chambers, City Hall
1301 Bacharach Blvd.
Atlantic City, NJ 08401

DATE AND TIME: Thursday, April 16, 2009, 11:00AM

MINIMUM BID: $5,000.00

PAYMENT TERMS:

• Successful bidders must make a minimum deposit of 25% of respective bid IMMEDIATELY following their successful bid. Failure to do so will result in forfeiture of the bid.
• Payment must be in guaranteed funds such as cash, certified check, bank check or money order. No third party instruments will be accepted.
• Balance, also in guaranteed funds, due by 12 noon on Friday, April 17, 2009 at the Division of Taxation, 1915-A New Road, Rt. 9, Northfield, NJ 08225 or deposit monies will be forfeited.
• Make checks payable to:  New Jersey Division of Taxation

• This sale may be postponed or canceled at the discretion of the NJ Division of Taxation.
• The NJ Division of Taxation reserves the right to receive or reject bids or bidders.
• NJ Division of Taxation employees or member of the employees’ immediate family may not participate in auction.
• This liquor license is sold subject to any restriction imposed by the NJ Division of Alcoholic Beverage Control on this license as those set forth in N.J.A.C. 13:2-24 as well as any violations imposed by the municipality.
• The successful bidder for the liquor license must submit a complete “good faith” transfer application to the municipality and pay the fee for the transfer of the license by Thursday, April 30, 2009 .  Failure to do so will result in forfeiture of all monies paid to the NJ Division of Taxation for the license.
• The successful bidder for the liquor license must submit a renewal application to the municipality and pay the fee by June 30, 2009.  Unless the municipality approves the transfer of the liquor license prior to July 1, 2009, failure to timely submit a renewal application will result in forfeiture of all monies paid to the NJ Division of Taxation for the license.  The NJ Division of Taxation will assist with the renewal process at the request of the municipality.  Any monies paid by the NJ Division of Taxation for the renewal of the liquor license will be reimbursed directly to the NJ Division of Taxation by the successful bidder.
• If the successful bidder makes proper application for the transfer and renewal of the license, passes the background check conducted by the municipality follows all guidelines set by the municipality and the municipality denies the application, then the monies paid to the NJ Division of Taxation will be refunded. The NJ Division of Taxation then has the right to go to the next highest bidder or re-auction the license.