TERMS OF SALE
DI PAOLO COMPANY AUCTION OCTOBER 18, 2012
PAGE 1

ALL REGISTRIANTS MUST PRINT THESE TERMS OUT, SIGN AND
DATE (3 PAGES TO THE AGREEMENT), AND RETURN THEM BY FAX
TO (847) 276-3332 (OR SIGN, SCAN, AND EMAIL kp@hyperams.com)
PRIOR TO BEING APPROVED TO PARTICIPATE IN THIS AUCTION.
1. ALL REGISTRIANTS MUST AGREE TO TERMS OF SALE PRIOR TO
BEING APPROVED TO PARTICIPATE IN THIS AUCTION.
2. Buyer is responsible for any applicable Sales and Use Taxes and will
supply AUCTION COMPANY/SELLER documentation that is acceptable to
the state of IL. Should the State of IL reject such documentation, buyer will
make the payment of said taxes immediately and agrees to defend
AUCTION COMPANY/SELLER from any and all tax claims. The sales tax
liability remains the sole obligation of the purchaser. For purchase without
proof of exemption, a sales tax rate of 9% will be added to the purchase
price plus the buyer?s premium and remitted to the Auction Company.
3. A Buyer?s Premium of 12% on site (15% on line) of the bid price will be
added to the price of each item purchased to arrive at the total purchase
price.
4. AUCTIONEER reserves the right to group, reduce, add or delete lots. In
the event there is a dispute between two or more claims of entitlement as
to the successful bidder, AUCTIONEER reserves the right to re-offer the
item in dispute or to declare the item sold at AUCTIONEER'S discretion.
AUCTIONEER reserves the right to bid on behalf of the owner.
5. Any announcements made the day of the sale take precedence over
catalog or other previously announced or documented information, but do
not alter in any way the basic terms and conditions of sale. Any additional
Terms and Conditions to be announced at sale.
6. Buyer is solely responsible to provide any personnel, equipment or
material needed to pick up purchases and shall assume all responsibility
for the removal of any item purchased at the sale. Asset removal is from
(October 19-26). Buyer is required to remove all merchandise within the
stated timeframe which is on their invoice unless prior arrangements have
been made in writing and approved by AUCTIONEER/SELLER. Items will
be considered abandoned, and buyer shall lose all rights to said equipment
without recourse or refund due from AUCTION COMPANY/SELLER after
the removal deadline.
7. Although information has been obtained from sources deemed reliable,
AUCTIONEER/SELLER makes no warranty or guarantee, expressed or
implied, as to the accuracy of the information herein contained or the
fitness for duty of any of the assets. All assets being sold ?AS IS, WHERE
IS, NO EXCEPTIONS and WITH ALL FUALTS AND WITHOUT
RECOURSE?.
8. If for any reason an item shall become non-deliverable,
AUCTIONEER/SELLER shall not, in any event, be liable for non-delivery,
or for any other matter or thing, to any Buyer of any lot, other than for the
return to the Buyer of monies actually paid to AUCTIONEER/SELLER for
said lot, should the Buyer be entitled thereto. No adjustments will be made
after the merchandise is removed from the sale site.
9. Full payment is due within 24 hours of completion of auction in cash,
certified check, cashier?s check, company check with bank letter of
guarantee or wire transfer. Time is of the essence as to payment and
removal portions of this agreement. Company checks will not be accepted
without a letter of verification from your bank similar to below. (Your Bank
Name) unconditionally guarantees payment to HYPERAMS, LLC from
(Your Company Name) up to the amount of __________. This guarantee
will be valid for purchases made at the auction of (Auction Name) on
(Auction Date).
10. All assets being sold ?AS IS, WHERE IS? and buyer acknowledges they
have inspected all assets prior to bidding. While all care was taken in
gathering information on the equipment that is for sale,
AUCTIONEER/Seller will not be held responsible for the correctness of the
descriptions. INSPECT BEFORE YOU BUY!
11. CONTRACT MOVERS: If purchaser wishes to hire or contract with a
machinery mover, rigger or other type of outside contractor, HYPERAMS
WILL NOT ALLOW them to work on the sale premises unless they have
placed with the auctioneer PROPER INSURANCE protecting HYPERAMS,
LLC and the people or company that the auctioneers are conducting the
sale for against any or all claims arising from personal injury and/or
property damage created by their actions. This requirement is for the
auctioneer?s protection-NOT FOR THE PURCHASER?S therefore the
auctioneer suggests that the purchaser review the insurance policies of the
machinery mover regarding the coverage that they have protecting the
purchaser and damage or loss of the equipment the may be moving for the
purchaser.
12. All persons are attending at their own risk and liability without recourse
to AUCTIONEER/SELLER. Further the undersigned and their employees
or agents agree to hold AUCTIONEER/SELLER and their agents and
employees harmless from all claims of any kind or type.
13. All sales are in US Dollars.
14. By signing these terms and conditions you signify that you have the
authority and you are binding your company, yourself (as an individual
and/or employee) and any agents or persons who conduct business using
your buyers number and/or under your employment or control. This
includes liability as to payment and all disclaimers.
15. Buyer hereby agrees to defend, indemnify and hold harmless
AUCTIONEER\SELLER their directors, officers, employees and other
agent representatives from and against any and all liabilities, judgments,
claims, settlements, losses, damages, penalties, obligations and expenses,
including attorney?s fees, incurred or suffered by such person arising from,
by reason of, or in connection with any loss, damage or injury to person or
property arising from, by reason of or in connection with the assets sold
hereunder.
16. Any controversy or claim arising out of or related to this Agreement, or
any alleged breach of the terms hereof, shall be settled by arbitration in
accordance with the rules, procedures, and regulations promulgated by the
American Arbitration Association (?Arbitration Proceeding?). The arbitration
hearing shall be held in the State of Missouri. The Parties hereby agree
that the award rendered by the person conducting the Arbitration
Proceeding?Arbitrator?) shall be final and nonappealable, and judgment
may be entered upon the award in any court of competent jurisdiction. The
Arbitrator shall not have the authority to award punitive damages against
either Party. The Party who files notice of demand for an Arbitration
Proceeding (?Initiator?) must assert in such demand all claims then known
to the Initiator against the other Party (?Respondent?), and the Initiator may
amend its demands and claims only with the consent of the Arbitrator.
17. Backup Bidder: If a winner at the auction does not meet obligations to
pay for the lot purchased, the next highest bidder will be considered the
winning bidder and will be required to close on such purchase within the
terms and conditions herein.

DATE_______________________________BUYER
NUMBER____________________
BUYER/S
ACCEPTANCE_______________________________________________
___
COMPANY NAME
_______________________________________________________
BUYERS NAME
PRINTED_________________________________________________
ADDRESS___________________________________________________
____________
CITY, STATE, ZIP
CODE___________________________________________________
PHONE_________________________________FAX
____________________________
EMAIL
ADDRESS___________________________________________________
______