TERMS OF SALE

NOTICE: All Bidders and other persons attending this sale (?Bidders?)
agree that they have read and have full knowledge of these terms and
agree to be bound hereby. The Bidder identified by the Auctioneer as the
high bidder or successful bidder at auction (?successful Bidder?) shall have
entered into a legally binding contract to purchase the item bid upon
(?Lot?) at the price and subject to the terms and conditions set forth herein.
All determinations, rulings, and adjustments made by the Auctioneer in
good faith shall be final, binding, and conclusive upon all Bidders. The
term ?Auctioneer? herein means Cincinnati Industrial Auctioneers, Inc.

1. IDENTIFICATION - All Bidders are required to fill out all registration
forms before becoming approved.
2. DEPOSIT - Each successful Bidder will be required to make a
deposit in cash or by bank cashier?s or certified check of 25 percent (25%)
of the successful bid on each Lot at time of knockdown. In default of
such deposit, the Lot may be put up again immediately and resold.
3. TIME OF PAYMENT ? Each successful Bidder shall receive an
invoice during or at the conclusion of the auction. All invoices must be
paid in full by the close of business on the last day of the auction sale and
prior to removing any Lot. Any other arrangements must be made with
auctioneer prior to bidding. In the absence of payment or agreement by
the auctioneer, title to the Lot shall not transfer to the successful Bidder
and such Bidder will lose any right, title or interest such Bidder may have
acquired, and the deposit paid, if any, without further notice to such
Bidder. The Bidder shall nonetheless remain liable for any damages
caused by the Bidder?s failure to pay.
4. REMOVAL - All purchases must be removed not later than the date
specified in the Auction Catalogue and/or announced at the sale. No Lot
can, on any account, be removed during the sale. All goods are sold
?Where Is.? Removal shall be at the expense, risk, and liability of the
successful Bidder. Purchases will be released only on presentation of paid
invoice. Auctioneer shall not be responsible for Lots not removed within
the time allowed, but Auctioneer shall have the option to remove and store
at the expense and risk of the successful Bidder any article purchased,
but not paid for and removed within the time required.
5. MANNER OF PAYMENT ? All payments must be made by cash,
bank cashier?s check or company check with a bank letter of authorization
guaranteeing funds to ?Cincinnati Industrial Auctioneers, Inc.? All checks
for deposits and balances due shall be payable to the order of ?Cincinnati
Industrial Auctioneers, Inc." All invoices must be paid to representatives of
the Auctioneer at the auction site unless otherwise announced. The full
purchase price on all Lots sold to the same successful Bidder must be
paid within the time fixed and before removal of any Lot.
6. DISCALIMER OF ALL WARRANTIES INCLUDING IMPLIED
WARRANTIES OF MERCHANTIBILITY AND FITNESS FOR
PARTICULAR PURPOSE; CONDITION OF ARTICLES SOLD ? The
Auctioneer and any owner, seller, or secured party make no warranties
express or implied as to merchantability or fitness for purpose whatsoever.
All such express or implied warranties are expressly excluded hereby. No
oral statement or other writing by any person negates this exclusion. If you
think you have received any assurance or warranty of any kind as to a Lot
offered in this auction do not bid on such item unless the Auctioneer has
signed a writing specifically directed to you and identifying the Lot and
stating the modification of this exclusion The Auctioneer shall not be
responsible for the correct description, genuineness, authenticity of, or
defect in any Lot, and makes no warranty in connection therewith. No
sale will be set aside nor allowance made on account of any
incorrectness, error in commentary, cataloging, or any imperfection not
noted. No deduction, credit or avoidance shall be allowed on damaged
articles, all Lots being exposed for public exhibition are purchased and
accepted by successful Bidder ?AS IS?, ?WHERE IS? and ?WITH ALL
FAULTS?. Auctioneer makes no warranties or guarantees whatsoever
whether written, oral or implied as to quality, quantity, condition, usability,
salability, weight, measurement, age, model, mechanical condition,
performance or other specifications and all sales made are utterly without
recourse.
7. CLAIMS ? No Claims will be allowed after removal of Lots from
premises.
8. RESPONSIBILITY FOR NON-DELIVERY- Auctioneer, any owner,
seller or secured party shall not, in any event, be liable to any Bidder for
non-delivery of any Lot or for any other matter or thing, other than for the
return to the successful Bidder of the deposit or sum paid on said Lot,
should the successful Bidder be entitled thereto. This means that if are a
successful Bidder and for any reason your Lot is not made available to
you, you agree that the damages you may claim for such non-delivery are
limited to the amounts you have paid and you waive any claim for
damages for lost profits, opportunity, the value of the Lot in excess of the
purchase price, your time, expenses, incidental and consequential
damages, all of which are expressly waived.
9. COMPLIANCE WITH TERMS OF SALE ? In default of payment of
invoices in full within the time therein specified, the Auctioneer in addition
to all other remedies allowed by law, may retain all monies received as
deposit or otherwise, as liquidated damages. Lots not paid for and
removed within the time allowed herein may be resold at public or private
sale without further notice, and any deficiency, together with all expenses
and charges of re-sale, will be charged to the defaulting successful
Bidder.
10. RISK TO PERSON AND PROPERTY ? Persons attending during
exhibition, sale, or removal of Lots assume all risks of damage of or loss
to person and property and specifically release the Auctioneer from
liability therefore and agree to indemnify and hold the Auctioneer
harmless from any loss, claim, liability, cost, or expense caused all or in
part by such person(s). Neither the auctioneer nor his principal shall be
liable by reason of any defect in or condition of the premises on which the
exhibition, sale, or removal of Lots is held.

11. ADDITION TO OR WITHDRAWAL FROM SALE ? The Auctioneer
reserves the right to alter the order of the sale, withdrawal from the sale
any of the Lots or parts thereof or to sell at this sale Lots not listed, and
also reserves the right to group one or more Lots into one or more selling
Lots or to subdivide into two or more selling Lots, or make any
combination thereof which Auctioneer in its sole discretion determines.
Whenever the best interest of the Seller will be served, the Auctioneer
reserves the right to sell Lots in bulk.
12. SALE BY ESTIMATED WEIGHT, COUNT OR MEASURE ? Where
items are sold by estimated weight, count, or measure, the successful
Bidder will be invoiced for and required to pay for the estimated weight,
count, or measure. If upon delivery any shortage exists, the successful
Bidder will receive a credit at the rate of the bid. If there be an excess,
the successful Bidder will be required to take and pay for such excess, at
the rate of the bid.
13. DISPUTE BETWEEN BIDDERS/BID INCREMENTS ? If any dispute
arises between two or more Bidders, the Auctioneer may decide the same
or put the Lot up for sale again at once, or resell to the highest Bidder.
The Auctioneer may reject a nominal or fractional bid advance in the
Auctioneer?s sole discretion
14. RESERVE ? The Auctioneer reserves the right to reject any and all
bids. On Lots upon which there is a reserve, the Auctioneer shall have
the right to bid on behalf of the seller, owner or secured party and shall
have no obligation to denote or announce such reserve or bid.
15. RECORDS ? The record of sale kept by the Auctioneer and
bookkeeper will be taken as final in the event of any dispute.
16. AGENCY ? The Auctioneer is acting as agent only and is not
responsible for the acts of its principals.
17. SALES TAX ? All sales are subject to state and local taxes, which
will be collected from the successful Bidder unless a proper exemption
certificate including tax-exempt number is presented at the time of
payment.
18. BUYER?S PREMIUM ? The Auctioneer in its sole discretion may
impose a Buyer?s Premium on any Lots sold. The Buyer?s Premium is a
percentage that is added to the final purchase price of any Lot.
19. SHIPPING ? All coolants, oil and fluids must be drained from all
machinery and equipment prior to removal. All of the above must be
shipped in compliance with state and federal regulations. Unless otherwise
expressly provided in writing, preparation and shipment shall be at the
sole responsibility and cost of the successful Bidder.
20. INSURANCE ? All successful Bidders, or the their riggers must
provide the Auctioneer and the owner of the premises of the sale a
certificate of insurance in amounts acceptable to the Auctioneer prior to
removal of any Lot.
21. ADDITIONAL TERMS AND CONDITIONS ? Except as set forth in
Section 6 above, the Auctioneer may modify or supplement these terms
and conditions of sale by language in the catalog available at the sale site
or by announcement at the start of the sale.