TERMS OF SALE

NOTICE: All bidders and other
persons attending this sale
agree that they have read and
have full knowledge of these
terms and agree to be bound
thereby.

1. IDENTIFCATION: All
purchasers are required to
give full name, address and
license #.

2. DEPOSITS: Each purchaser
will be required to make a
deposit in cash or by
certified check or cashier’s
check of 25% of the bid on
each lot at the time of
purchase. In default of such
deposits, the lot may be put
up again immediately and
resold. $500 deposit on all
rolling stock.

3. TIME OF PAYMENT: All bills
must be paid in full by the
next business day following
the auction closing. A 15%
Buyer’s Premium will apply.
Also a 3% charge will be added
to any credit card payment.
There is a $20.00 fee for
wired funds.

4. REMOVAL: All purchases
must be removed no later than
one week after auction
closing. No removal of any
lots during the sale. Removal
shall be at the expense, risk
and liability of the
purchaser. Auctioneer shall
not be responsible for goods
not removed within the time
allowed, but shall have the
option to remove and store at
the expense and risk of the
purchaser any article
purchased, but not paid for
and removed with the time
aforesaid.

5. MANNER OF PAYMENT: All
checks for deposits and
balances shall be payable to
the order of Stockwell
Equipment Co.. All bills must
be paid to representatives of
the auctioneer at the auction
unless otherwise announced.
The full purchase price on all
lots sold to the same buyer
must be paid within the time
fixed and before removal of
any of the goods. ALL
PAYMENTS MUST BE MADE BY CASH,
CASHIER’S CHECK, CERTIFIED
CHECK, WIRE TRANSFER, OR
COMPANY CHECK WITH BANK LETTER
GUARANTEEING PAYMENT TO
STOCKWELL EQUIPMENT CO.. 3%
will be added to credit card
purchases. There is a $20.00
fee for wired funds. There is
a $25.00 charge for any
returned check, plus any legal
fees incurred in collection of
such payments.

6. CONDITION OF ARTICLES SOLD:
The auctioneer shall not be
responsible for the correct
description, genuine,
authenticity of, or defect in
any lot, and makes no warranty
in connection therewith. No
sale shall be set aside nor
allowance made on account of
any incorrectness, error in
cataloging, or any
imperfections not noted. NO
DEDUCTION ALLOWED ON DAMAGED
ARTICLES, WITHOUT RECOURS,
ARTICLES ARE NOT WARRANTED AS
MERCHANTABLE OR FIT FOR ANY
PARTICULAR PURPOSE, AND NO
CLAIM MAY BE MADE BY PURCHASER
RELATING TO THE CONDITION OR
USE OF ARTICLES PURCHASED, OR
FOR PROXIMATE OR COSNEQUENTIAL
DAMAGE ARISING THERFROM, and
Purchases are “AS IS, HERE
IS”.

7. INDEMNIFICATION: Purchaser
agrees to indemnify and hold
auctioneer harmless from and
against all claims and
liabilities relating to the
condition or use of the
articles purchased or failure
of user to follow
instructions, warning or
recommendations of the
manufacturer, or to comply
with federal, state and local
law applicable to such
articles, or from proximate or
consequential damages, costs
or legal expenses arising
therefrom.

8. CLAIMS: No claims will be
allowed after removal of goods
from premises

9. RESPONSIBILITY FOR NON-
DELIVERY: Auctioneer shall
not, in any event, be liable
for non-delivery or for any
matter or thing, to any
purchaser of any lot, other
than for the return to the
purchaser of the deposit or
sum paid on said lot, should
the purchaser be entitled
thereto.

10. COMPLIANCE WITH TERMS OF
SALE: In default of payment of
bills in full within the time
therein specified, the
auctioneer in addition to all
other remedies allowed below,
may retain all monies received
as deposit or otherwise. As
liquidated damages, Lots not
paid for and removed within
the time allowed therein may
be resold at public or private
sale without further notice,
and deficiency, together with
all expenses and charges of
resale, will be charged to the
defaulting purchaser.

11. RISK TO PERSON AND
PROPERTY: Persons attending
during exhibition, sale or
removal of goods assume all
risks of damage of or loss to
person and property and
specifically release the
auctioneer from liability
thereof. Neither the
auctioneer nor his principal
shall be liable by any reason
of any defect in or condition
of the premises on which the
sale is held.

12. ADDITION TO OR WITHDRAWAL
FROM SALE: The auctioneer
reserves the right to withdraw
from any sale any of the
property listed or to sell at
this sale property not listed
and selling lots to subdivide
into two or more selling lots.
Wherever the best interest of
the seller will be served, the
auctioneer reserves the right
to sell all property listed,
in bulk.

13. SALE BY ESTIMATED WEIGHT,
COUNT OR MEASURE: Where items
are sold by estimated weight,
count or measure, the
purchaser will be billed for
and required to pay for the
estimated weight, count or
measure. If, upon delivery,
any shortage exists, the
purchaser will receive a
refund at the rate of
purchase. If there be an
excess, the purchaser will be
required to take and pay for
such excess, at the rate of
purchase.

14. DISPUTE BETWEEN BIDDERS:
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, and resell to
the highest bidder. The
auctioneer’s decision shall be
final and absolute.

15. RESERVE: The auctioneer
reserves their 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.

16. RECORDS: The record of
sale kept by the auctioneer
and bookkeeper will be taken
as final in the event of any
dispute.

17. AGENCY: The auctioneer
is acting as agent only and is
not responsible for the acts
of its principle.

18. ADDITIONAL TERMS AND
CONDITIONS: The auctioneer
may add other terms and
conditions for the sale, such
as additional terms and
conditions to be announced
prior to the auction.