TERMS & CONDITIONS OF SALE UNRESERVED CLASSIC CAR AUCTION 10-202 THE PHIL HALL COLLECTION at the CUMBERLAND COUNTY FAIRGROUNDS 197 BLANCHARD RD., CUMBERLAND, ME SATURDAY, AUGUST 7, 2010 AT 10 A.M. TERMS: CASH, Cashiers Check, Personal or Business check accepted w/ Bank Letter of Guarantee. Credit Cards: Visa/Master Card Only. Please make all checks payable to the Keenan Auction Company. Complete payment due day of sale. No exceptions. BUYER’S PREMIUM: In addition to the final bid price, a Buyer’s Premium will be added to the final bid for each vehicle purchased. The Final Bid, plus the Buyer’s Premium, plus any applicable Sales Tax will equate the total purchase price for that vehicle. Onsite purchases: 12% Buyer's Premium, Absentee Purchases: 12%, Online purchases: 15% Buyer’s Premium. Discount for cash, check, or wire transfer: 2%. REGISTRATION: Bidding and acknowledgment will be by bid number only. All persons wishing to bid must complete a registration contract at the Registration Office prior to placing a bid. The Registration Fee is $50 (non-refundable) for each bidder and is payable at time of registration. A copy of current driver’s license will be required. A bid number and Auction Catalog will be provided to each registered bidder. (2) "Reserved Seating" cards will be provided to each registered bidder for reserved seating in the Auction Gallery. TRANSFER OF OWNERSHIP & RISK OF LOSS: Once you become a winning bidder, risk of loss and title transfer according to the Uniform Commercial Code (UCC) and you are responsible for your own merchandise. Please watch your merchandise after you have become the winning bidder. Auctioneer is not responsible for lost, stolen or damaged items. No purchases may be transferred from one bidder to another; neither prior to nor after payment has been made. Buyer is responsible for all risk of loss or damage immediately upon purchase of the vehicle or item, and Buyers should make their own insurance arrangements prior to attending the auction. Keenan Auction Company provides no such insurance and is not an insurer of any vehicle or other article offered for sale. SALES TAX: 5% Maine sales tax on all items. Dealers or exempt agencies must provide us with a copy of their annual resale certificate at time of registration. Out-of-state residents must complete a ST-MV-33 “Affidavit of Exemption For Immediate Removal” form from the Maine Revenue Service at time of settlement and prior to removing vehicle to their state. Click Here To PRINT ST-MV-33 FORM. DOCUMENT FEES: Purchasers of items requiring State of Maine motor vehicle paperwork will be required to pay a $25.00 documentation fee at time of settlement. TITLED VEHICLES: A motor vehicle 1994 and older is exempt from a Certificate of Title in the State of Maine. Vehicles, which we have title document to and paid for with a check, buyer will receive title in 10 business days from the date of sale, and upon check clearing auctioneer's account. Vehicle descriptions indicate whether vehicle has a Title or Registration. REMOVAL OF MERCHANDISE: Items may be removed after complete payment has been made. Complete payment must be received TODAY. Removal today until 5PM and Sunday, August 8th from 8AM until 12PM. ALL ITEMS MUST BE REMOVED FROM THE SALE LOT AT BUYER’S EXPENSE BY SUNDAY, AUGUST 8th AT 4PM. NO EXCEPTIONS. Items not removed by AUGUST 8th at 4PM, auctioneer may remove the items with all costs of moving and storage to be paid by the Buyer. DISCLAIMER: While descriptions are believed to be correct, the Auctioneer and the Seller make no warranties or guarantees, expressed or implied as to the genuineness, authenticity of, or defects in any lot, and will not be held responsible for advertising discrepancies or inaccuracies. Purchaser acknowledges that purchaser has had the opportunity to inspect the lots and that everything is sold on an "AS IS", "WHERE IS" basis except as expressly made in writing. No warranties are made as to the merchantability of any item or their fitness for any purpose. Auctioneer and Seller do not guarantee the accuracy or completeness of the information contained in this catalog. Purchasers should verify and inspect desired items/lots prior to bidding. All statements printed in the auction catalogues, ads, brochures, signs and car cards as well as verbal statements made by the auctioneer or staff, have come from the Seller and are accepted as reliable. Auctioneer assumes no responsibility or liability for representations made by Sellers and shall have no obligation to verify or authenticate such statements or claims. Any announcements made sale day supercede printed information in the catalogues, ads, brochures, signs and car cards. Purchaser does hereby indemnify and hold harmless Auctioneer and Seller from any and all damages and claims of any type whatsoever, caused during the sale or arising out of the sale, storage, transportation, or by the removal of the items purchased. The Auctioneer reserves the right to bid and to reject any and all bids including any bid, which is only a fractional advance over the preceding bid. The Auctioneer reserves the right to group one or more lots into one or more selling lots and to add to or delete from lots at Auctioneer's sole discretion. Absentee bids will be accepted with proper completion of bid form. BREACH: Because the Vehicle subject to this agreement is unique, breach of this agreement is not fully remedied by monetary damages. Therefore, in addition to all rights and remedies available in law or equity, Keenan Auction Company shall have the following rights and remedies: (i) The right to an order for specific performance requiring Bidder to pay the Final Settlement Figure and take possession of the Vehicle; (ii) The right to resell, at public or private auction, any Vehicle upon fifteen (15) days written notice to Bidder and hold Bidder liable for the difference between the amount received at public or private auction and the Final Settlement Figure, plus all costs of storage and removal of the Vehicle, and all costs and expenses of sale; (iii) The right to sue for damages in the amount of the difference between the Final Settlement Figure and the fair market value of the Vehicle; and (iv) The right to rescind the sale and retain as liquidated damages any amount paid to Keenan Auction Company by Bidder. Bidder shall be limited to an action for damages against the owner of the Vehicle, without right of rescission, upon the auctioneer's call of "Sold" and Buyer shall not be permitted to maintain any action for consequential damages. In addition, Buyer agrees to pay any and all charges and expenses incurred by reason of any breach of the Terms and Conditions of Sale, including without limitation reasonable attorney's fees. If any check given in payment is dishonored for any reason (including but not limited to insufficient funds, stop payment or the like), Buyer agrees, whether such check is signed by Buyer as maker or endorser, that if such check is placed in the hands of an attorney for collection, to pay all reasonable attorney fees incurred, together with all court costs and associated expenses in the event suit is instituted. PLEASE NOTE: You have signed a written binding contract agreeing to the Terms and Conditions of Sale, and understand that any bid you make falls under the Maine Auction Law, Title II, Section 2-328 of the Uniform Commercial Code, and the Statute of Frauds. Maine auctions are under the jurisdiction of the State of Maine Department of Professional and Financial Regulations, Board of Licensure of Auctioneers, 35 State House Station, Augusta, Maine 04330. If you do not agree with the Terms and Conditions of the Sale, please return your bidding card to the clerk. ADDITIONAL TERMS: Additional Terms & Conditions may be announced on day of sale. Auctioneer reserves the right to modify the terms & conditions of the sale.