10% deposit of the Contract Sales Price of which Twenty Thousand Dollars ($20,000) must be presented in certified or bank check at the auction. In the event the Total Purchase Price, inclusive of Buyer’s Premium, is less than $200,000, the deposit shall be $20,000. Remainder of the 10% deposit in personal or business check at the conclusion of the auction when you sign the Purchase & Sale Agreement. Balance is due at closing, and the closing is in 50 days, subject to the P&S.