Vintage Sail Boat with Trailer

TERMS OF SALE

Set forth below are the Terms and Conditions (the "Terms") that shall apply to any purchase by any party (a "Buyer") either directly from Equipment Recycle(ER)/Spencer Davis Auctions or in a transaction (a "Transaction") in which ER serves as broker, agent, liquidator or auctioneer for any third party owner. The Terms apply to all Transactions, including without limitation, public auctions conducted by ER and direct purchases by Buyer of any item either before, after or independent of any public auction. By using or accessing any and all ER services and or Websites you agree you have read and understand the Terms stated herein and are bound to these Terms. You may not use or access any and all ER services if you do not agree to the Terms stated herein.

1. All machinery, equipment, merchandise and other items (the "Goods") are sold on an "AS IS/WHERE IS" basis with no warranties or representations whatsoever either expressed or implied. Neither ER nor the consignor makes any warranties or representations of any kind or nature with respect to the property or its value, and in no event shall they be responsible for correctness of description, genuineness, attribution, provenance, authenticity, authorship, completeness, condition of the property or estimate of its value. No statement (oral or written) in the catalog, at the auction, or elsewhere shall be deemed such a warranty or representation, or any assumption of responsibility. Prospective bidders are urged to contact ER directly for detailed information regarding any lot. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, THE WARRANTIES OF FITNESS FOR A PARTICULAR PURPOSE AND MERCHANTABILITY are expressly disclaimed.

2. Registration. Buyers must register prior to bidding at any auction sale and must be of legal capacity to enter into this agreement. All bidders must provide their name, company (if applicable), mailing address and phone number prior to the auction. By registering you represent and warrant any and all Buyer Information is accurate and complete. It is solely the Buyers responsibility to maintain current Buyer Information for completeness and accuracy. ER reserves the right to deny and or terminate Registrations at any time at its sole discretion without notification. ER reserves the right to deny usage and access of ER Services and Websites at any time without notice or liability to any persons or third parties. When applicable, Electronic bidders are required to provide a valid email address and Visa, MasterCard, Discover or American Express are approved forms of payment for any purchased UNDER $5,000. ER WILL ONLY BE ACCEPTING WIRE TRANSFERS FOR PURCHASES OVER $5,000.

4. Invoices & Payment Instructions: Electronic bidders will be sent an electronic invoice to the email address provided during registration along with detailed payment instructions via email along with their invoice.

5. Payments. ER must receive the balance of the total purchase price no later than the close of business on the day following the auction.

6. Removal. (1) Buyers or their Agents must remove all Goods purchased before the final removal date and time announced by ER at the auction (the "Removal Date"). (2) No Goods shall be removed until the full purchase price and all applicable taxes thereon have been received by ER in the form required herein. ANY ITEMS NOT REMOVED ON OR BEFORE THE REMOVAL DATE, (unless stated specifically in the individual listing), SHALL BE DEEMED ABANDONED AND ER SHALL HAVE NO FURTHER OBLIGATION TO BUYER WITH RESPECT TO SUCH ITEMS.

7. Items that required rigging must be removed by an insured rigging company .Buyer does hereby indemnify ER, the owner of the Goods and the owner of the premises in which the Goods are located, from any and all claims, damages, and losses arising from Buyer's actions or actions with respect to the Goods and Buyer's presence on the premises in which the Goods are located, including without limitation, injuries to persons or property and environmental violations or contamination. Risk of loss on any Goods shall pass to the Buyer upon payment in full to PIS of all sums due from Buyer in respect to the Goods.

8. Small Lot Removal.ER shall have no responsibility whatsoever for any missing or lost items that can be removed by hand if such items have not been removed within forty-eight (48) hours of the conclusion of the sale. There will be NO removal of any lots until the auction is complete.

9. Default. Bidders must bid only on those items they are prepared to pay for and remove in accordance with the terms and conditions of this sale. All items awarded to high bidders are contractually theirs and must be paid for by the Final Payment Date and removed by the Final Removal Date. IN THE EVENT BUYER FAILS TO PERFORM CONTRACTUAL OBLIGATIONS (PAYMENT AND REMOVAL) AS SPECIFIED IN THIS INVITATION TO BID, THE FOLLOWING ACTION APPLIES: PURCHASER WILL AUTOMATICALLY BE PLACED IN DEFAULT. THIS IS YOUR OFFICIAL NOTICE OF DEFAULT. Upon default, the purchaser shall lose all right, title, and interest which he/she might otherwise have acquired in and to such property as to which default has occurred. ER will re-market and re-sell this property. 9A. Payment Default. Failure to pay invoices in full by the Final Payment Date in accordance with payment terms will subject Bidder to pay as Liquidated Damages a sum equal to the lesser of (1) 20 percent of the invoice price of the item(s) as to which the default has occurred, or (2) the full amount of the difference between the original invoice price and the re-sold price plus any expenses incurred to re-market or re-sell these items. IF PIS HAS NOT RECEIVED PAYMENT FOR WINNING BIDS WITHIN 24 HOURS OF THE FINAL PAYMENT DATE, THE BIDDER AUTHORIZES ER TO CHARGE LIQUIDATED DAMAGES TO THE CREDIT CARD LEFT ON FILE DURING THE REGISTRATION PROCESS.

10. After Buyer has removed any item from ER possession, ER shall have no obligation to make any adjustment or accommodation to Buyer because of any mistake in quantity or other defect or problem with respect to such item. Buyer must make all requests for adjustments in writing to ER before any item is removed from the premises where the auction is conducted.

11. ER shall not be responsible for any damages, loss ort heft of Goods except in the case of ER willful misconduct. Without limiting the foregoing, ER shall not be responsible for damages or losses caused by strikes, civil disorders, or acts of God.

12. Minimum or Reserve Prices. ER, in its sole discretion, reserves the right to establish a reserve or minimum price on any Goods without having to announce, post or publish notice to attendees and buyers at any auction. ER reserves the right to confirm or reject the final bid.

13. ER, in its sole discretion, reserves the right to refuse the bid of any person without providing any notice or reason therefore. ER reserves the right to deny the usage and access by any person or third party of any and all ER Services and Websites without notification.

14. All information provided by ER to Buyers, including without limitation, any advertising, lot sales catalogs or otherwise, is subject to deletions, errors, additions, and changes without notice. Although information is gathered from sources thought to be reliable, ER shall have no responsibility whatsoever for any information provided to any attendee or buyers. All buyers shall rely solely on their own investigation and inspection of any Goods

15. ER reserves the right to amend any and all of the Terms and Agreements stated herein at any time without notification at ER sole discretion. It is the Buyers responsibility to read and review the Terms and Conditions for each sale. ER provides the Terms and Conditions through its Websites and in printed form at on-site auctions

16. Buyers agree to comply will all US export control and related laws, and acknowledge that ER is not the exporter of any purchased item. Certain items offered for sale at the auction may constitute "Restricted Technology." Under federal law, such items may not be shipped outside the United States. ER makes no representation or warranty concerning, and has conducted no investigation to ascertain which items, if any, constitute Restricted Technology.

17. Buyers acknowledge that an auction site is a potentially dangerous place, Flammable, noxious, corrosive and pressurized substances may be present. Heavy equipment may be operated and electrical circuits may be live. Every person enters the auction site at his or her own risk with notice of the condition of the premises and the activities that will be or have been conducted on the premises. No person shall have any claim against ER, the seller or their respective agents for any injuries sustained or for damages to or loss of property that may occur

18. Buyers agree they will not participate in any bidding practices with the intent of manipulating the bidding. Any and all forms of collusion between Buyers are forbidden. Buyers agree they will not place bids under false names or Buyer Information.

19. Buyers agree they will defend, indemnify and hold harmless ER, including its affiliates, directors, officers, employees, agents, shareholders, co-branders, or partners, from and against any and all claim, loss, damage, liabilities, judgments, fees and expenses incurred by ER, including its affiliates, directors, officers, employees, agents, shareholders, co-branders, or partners, through the use of ER Services and Websites.

20. The following is specific to the access and usage of ER Websites including and not limited to any and all features and applications: a. Each Registrant will specify a unique Username and Password and it is solely the responsibility of the Registrant to maintain the confidentiality of this User Name and Password. b. Registrants are solely responsible for any and all transactions or transmissions using their Username and Password c. ER is not responsible for any and all unauthorized or compromised usage of the Registrants Username and Password. Registrants are responsible for contacting ER in writing for any and all unauthorized usage of their Username and Password. d. Registrants agree they will not: i. Disrupt, interfere or create outages to computer networks that directly or indirectly affect ER Websites. ii. Falsely misrepresent or impersonate any other person or entity. Registrants are forbidden from misrepresenting a Registrants employment by or affiliation with any third party. iii. Registrants are forbidden from posting, uploading, transmitting, publishing or distributing any and all information that contains viruses, code, files or programs with the malicious intent of affecting ER Websites. iv. Registrants agree they will not copy, modify, reproduce, distribute or sell any information or material provided through ER Websites with the intent of commercially ER Services and Websites. e. ER is not responsible for any and all products, content, information or material provided by links to or statements regarding third party services. This includes but not limited to riggers, shippers, partners and any third party services listed. f. Registrants agree ER and its affiliates, including partners, officers, directors, employees, agents, shareholders or co-branders, are not responsible for any and all damages, actual or alleged, resulting from the downloading of any information or materials from ER Websites. Credit / Debit Card Accepted. Payments via credit card are accepted up to $5,000.00. Any invoice totaling more than $5.000.00 must be paid by cash, wire transfer, or certified check. A 3% discount will be applied to any transaction paid through cashiers check, cash or wire transfer. By agreeing to these terms you are releasing Silver-top Manufacturing, Equipment Recycle LLC and Spencer Davis Auctions of any liability incase a injury or even death.