TERMS AND CONDITIONS PART 2

TERMS AND CONDITIONS CONTINUED...

Auction sales and items are subject to cancellation without prior notice. 

The Auctioneer reserves the right to augment this auction with items from additional sellers. These items may be interspersed and not specially identified throughout the auction sale. 

The Auctioneer shall regulate all matters relating to the conduct of the auction and the Auctioneer's decisions shall be final and binding on all bidders. 

The Auctioneer reserves the right to group, regroup, reduce, add to or delete lots as well as accept or reject any or all bids at the Auctioneer's sole and absolute discretion. 

The Auctioneer reserves the right to offer any or all of the items in bulk at any time during the auction at the Auctioneer's sole and absolute discretion. 

The Auctioneer shall determine the bidding increments and the Auctioneer may bid on any item(s) to protect its financial interest or indebtedness at its sole and absolute discretion. 

Immediately upon the Auctioneer announcing sold or knockdown and the Auctioneer has declared the Undersigned to be the Purchaser, all items comprising of the lot become the sole and absolute responsibility of the Undersigned and the Undersigned shall thereupon and thereafter assume all risk of loss (including, but not restricted to loss by way of theft or damage) and liability relating to such items. The Undersigned is advised to pre-arrange insurance coverage for its purchases as there will be no refunds for missing, lost, damaged or stolen items unless and only at the Auctioneers sole discretion. The Auctioneer shall in no event be liable to the Purchaser for non-delivery of any item(s) for any reason except for the return to the Buyer of the deposit or other sums paid for such non delivered items. This non-delivery period extends from the knock down until the time allotted for the removal process concludes. In no event will the Auctioneers liability to the Undersigned exceed the amount actually paid by the Undersigned. THE UNDERSIGNED HEREBY ACKNOWLEDGES AND AGREES THAT THE AUCTIONEER SHALL NOT BE LIABLE FOR SPECIAL, CONSEQUENTIAL OR INCIDENTAL DAMAGES. 

Title to and possession of the item(s) shall not pass to the Undersigned until the Auctioneer has received payment for all items duly purchased in full. All items and the entirety of the Purchasers invoice require payment in full prior to Auctioneer releasing any items. If all the items are not paid in full by Purchaser for any reason, and Purchaser has provided Auctioneer any monetary consideration, Auctioneer will retain all the items and the monetary consideration paid by Purchaser to mitigate Auctioneers financial damages caused by Purchaser. If after the subsequent mitigation amounts (if any) received by Auctioneer exceed the amount of the Purchasers invoice and below, the auctioneer will refund such amounts to the Purchaser once determined by Auctioneer in its sole discretion. The Purchaser hereby agrees items purchased at this auction will be invoiced in totality, although in some cases separately priced on the invoice, the total amount due Auctioneer of the Purchasers invoice is deemed a single contract if in the event of a legal dispute.     

If for any reason the Undersigned fails to pay the full amount of its invoice within the first banking day 24 hours after the auction, and/or fails to remove all of its items on or before the date posted on Purchasers invoice, and/or fails to comply with any other terms and conditions of this Contract, all the items on the Purchasers invoice will be considered abandoned and the Auctioneer in its sole discretion and without further notice to Purchaser may remove, dispose of, scrap, resell at public or private sale any or all the items and the Undersigned hereby agrees to pay to Auctioneer any monetary mitigation deficiency and costs as a result thereof, including all removal, rent, lay and hold over fees.  The bidder understands and acknowledges that there is sufficient consideration by both parties to perform, and that if payment in full is not made within the specific time outlined in the contract, the bidder is agreeing to be bound by a “consent judgment" and is violation and in default of contract. By signing below you are consenting to the terms of a judgment entered against you and are waiving your rights to any court hearing. In addition,  relating to such disposition together with all charges, including attorney, court and legal fees, interest and any and all other expenses in connection with such disposition, plus a $500.00 per diem administrative fee per item until such item(s) is (are) removed.   

The Undersigned agrees that the Auctioneer may retain all deposits previously received and apply such deposits to any such deficiency without further notice to Purchaser. Purchaser hereby agrees that “time is of the essence" in regards to this Contract regarding payment of its invoice and removal of its items. For purposes of clarity, Purchaser further acknowledges and agrees Auctioneer will be monetarily damaged for the subsequent disposal of any item(s) for any reason and that the Purchaser will be responsible to pay Auctioneer for all of the above and any other such monetary mitigation deficits, damages known and unknown, and any and all other cost to Auctioneer to collect and enforce this Contract. Any monetary deficiencies to the Auctioneer become the debt of the Undersigned.       

This Agreement shall be construed and interpreted according to the laws of the State of California.  The Bidder further agrees to have Burbank California as the Forum City & State in the event any lawsuit is initiated by either party. If any action based on the performance, breach or interpretation of this Agreement is brought, the prevailing party in such action (as determined by the court or other body having jurisdiction) shall be entitled to recover from the losing party all actual costs and expenses of litigation or arbitration, including attorney's fees, court costs, costs of investigation, and other costs related to such proceeding. 

AUCTIONEER DOES NOT WARRANT THAT THE FUNCTIONS, FEATURES OR CONTENT CONTAINED IN THE ONLINE OR WEBCAST BIDDING PLATFORM OR SOFTWARE, INCLUDING ANY THIRD-PARTY SOFTWARE, PRODUCTS OR OTHER MATERIALS USED IN CONNECTION WITH THE WEBSITE OR BIDDING WILL BE TIMELY, SECURE, UNINTERRUPTED OR ERROR-FREE, OR THAT DEFECTS WILL BE CORRECTED. AUCTIONEER RESERVES THE RIGHT TO ACCEPT AND OR REJECT AND OR REMOVE ANY ELECTRONIC BIDS FOR ANY REASON AT ANY TIME IN ITS ABSOLUTE SOLE DISCRETION. BIDDER AGREES ALL OF ITS ELECTRONIC BIDS ARE BINDING REGARDLESS OF ORDER AND OR TIME IN WHICH THEY ARE ACCEPTED OR REJECTED.