!!! 13% BUYERS PREMIUM APPLIED TO ALL SALES !!
All Items To Be Removed By TBD
1. The services provided by Regal Equipment, Inc. (?Auctioneer?) are
governed by these Terms and Conditions. By participating in this auction, you
consent to be bound by these Terms and Conditions as well as by any
additional terms that may be imposed by the seller or announced at the sale.
(D-1)
2. Auctioneer reserves the right to sell articles by individual group lots and
?EN BLOC?, as it deems appropriate. The Auctioneer reserves the right to sell
on behalf of third parties, for its own account or for the account of others,
and may reject any and all bids. The Auctioneer reserves the right to refuse
the privilege of bidding or attending the auction and may revoke such
privilege at any time. (H-8, 18)
3. Any disputes as to bidding shall be settled by the Auctioneer at its sole
discretion and the Auctioneer may, at its discretion, put any lot in dispute up
for sale again. The Auctioneer is to regulate the bidding, shall be the sole
arbiter in any disputes related to the bidding, and the Auctioneer?s decision
shall be final and binding on all bidders. No bidder may retract his bid. (H-
9)
4. Only cash, wire transfer, cashier?s check or a company check
accompanied by a letter of guarantee from a bank payable to Regal
Equipment, Inc. will be accepted. The balance and full payment for all items
purchased is due to Regal Equipment, Inc. upon receipt of invoice. (R-1)
5. Auctioneer shall charge and collect from each successful bidder a 13%
buyer?s premium for each sale at the auction, in addition to the purchase
price as bid.
6. Collection of applicable taxes will be in accordance with the laws of the
state where the purchased asset is located, and shall be paid by purchaser.
(D-8).
7. Title to the offered item shall pass to purchaser upon (i) the payment in
full to Auctioneer; and (ii) removal of purchased item from the premises,
subject to compliance by purchaser of all other terms of sale. Auctioneer
reserves the right to cancel or void the sale of any items purchased by
purchaser up to the time such items are removed from the premises by
purchaser. (R-4)
8. If the Auctioneer is unable to deliver an article sold to a purchaser due to
fire, theft or any other reason whatsoever, the Auctioneer shall reimburse the
purchaser for all monies paid to the Auctioneer in respect of the article and
the Auctioneer shall have no further liability to the purchaser arising from or
relating to such loss, including without limitation, any damages for loss of
profits, travel time, expenses, or lost time. (H-17)
9. Bidders shall examine or inspect items prior to the day of the auction or
by appointment. ALL ITEMS ARE SOLD AS IS, WHERE IS AND WITH ALL
FAULTS. NEITHER SELLER NOR AUCTIONEER MAKES ANY WARRANTY, EXPRESS
OR IMPLIED, AS TO THE NATURE, QUALITY, VALUE OR CONDITION OF ANY
ASSET. AUCTIONEER AND SELLER EXPRESSLY DISCLAIM ANY WARRANTY OF
MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON-
INFRINGEMENT. (H-10 Last line) Descriptions have been prepared for guide
purposes only and shall not be relied upon by the purchaser for accuracy or
completeness. Purchasers shall be deemed to have relied entirely upon their
own inspections and investigations. (D-5)
10. All articles purchased shall be removed within the time frame specified
by the Auctioneer (providing payment has been received by Auctioneer). The
purchaser shall be responsible for all costs of removal and shall be liable for
any damage, including without limitation, any environmental damage, caused
during or as a result of the removal. Purchasers shall comply with all
environmental laws and regulations and all requirements established by the
Auctioneer for the removal of articles, including requirements as to bonding
of independent contractors. All independent contractors must provide the
Auctioneer, seller and landlord certificates of liability and worker?s
compensation insurance in amounts acceptable to the above parties. The
Auctioneer has sole discretion to refuse any independent contractor from
working on the premises. ( H-13 & 14) If items are not removed within the
specified time for removal, (i) such items will be deemed abandoned by the
purchaser, (ii) purchaser shall forfeit all monies paid to Auctioneer for the
purchase of such item(s), including any rigging costs and (iii) purchaser shall
forfeit the right to purchase such item(s). In addition, purchaser shall be
responsible for all damages suffered by purchaser, including, but not limited
to, any dismantling, transportation, storage or other costs, including
attorney?s fees incurred by Auctioneer as a consequence of purchaser?s
failure to remove such item(s). (H-9)
11. Bidder acknowledges that an auction site is a potentially dangerous place
with noxious, corrosive and pressurized substances being present, heavy
equipment being operated and electric circuits being live. Every person at the
auction site before, during and after the auction sale shall be deemed to be
there at their own risk with notice of the condition of the premises, the
activities on the premises and the conduct of third parties and the Bidder
shall so advise his agents and employees. No person shall have any claim
against the Auctioneers, their agents, employees or principals for any injuries
sustained nor for damages to or loss of property which may occur from any
cause whatsoever. (H-20).
12. Purchaser shall indemnify, hold harmless and defend Auctioneer and the
seller from and against any and all losses, damages, liabilities and claims, and
all attorneys fees, costs and expenses arising out of, based upon or resulting
from (i) any loss or injury resulting from purchaser?s failure to secure all
safety equipment and/or to meet all applicable government safety standards
in removing items purchased or in use, (ii) any act by or omission of
Auctioneer, the seller, or their respective agents, representatives or
employees, relating to or affecting the goods bid on and or purchased by
purchaser, or (iii) any injury to purchaser or any other person or property of
any type whatsoever caused during the inspection, auction, dismantling,
removing, transporting or use of the items purchased. (R-13)
13. Purchaser will indemnify, defend and hold Auctioneer and seller harmless
with respect to all costs, expenses, liabilities, damages or claims, including
without limitation, attorneys fees, asserted by any person, entity or
governmental agency or against Auctioneer or seller directly or indirectly
relating in any manner to any hazardous or toxic materials, which may be
regulated under applicable laws, rules or regulations, (collectively, Hazardous
Materials) and which relate in any way to the dismantling or removal of any
purchased item. Neither Auctioneer nor seller shall be obligated to sell any
items which contain any hazardous materials, or to incur any costs or
expenses relating in any manner, either directly or indirectly, to any
hazardous materials. Purchaser will be responsible for any and all
remediation costs related to the dismantling and removal of any purchased
item. (R-14)
14. Auctioneer or seller is not responsible for (i) the acts or omissions of any
party who provided any items to the Auctioneer for sale, (ii) the owner or
lessor of the auction site, (iii) the owner or lessor of the site where the items
are stored, or (iv) the acts or omissions of any party who provides services to
the Auctioneer, including, but not limited to telecommunication or internet
bidding services. (R-15)