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TERMS & CONDITIONS General Info Dayton Lease & Pipeline Services, Inc (dba DL&PS Auction Services), herein referred to as auctioneer, reserves the right to deny or revoke any buyer at any time, without notice or consent at their sole discretion. Auctioneers at their discretion will have the final say as to disputes among bidders. Auctioneer reserves the right to add or remove items from the auction and make alterations to any auction items or terms & conditions at any time. Announcements posted from the auction block will take precedence over all printed matter and advertising. Buyer’s Premium 10% Buyers Premium applies to all purchases. An additional 5% will be applied to all online purchases. Buyer’s premium will be capped at a purchase price of $5,000 for onsite bidders. The buyer’s premium for online bidders will also cap at $5,000, although an additional 5% will be assessed for all purchases made online, regardless of sales price. This amount will be added to the hammer price. Example: An onsite bidder makes a purchase of $6,000. The total price will be $6,000 + 10% BP (Capped at $5,000) $500=$6,500 Example: An online bidder makes a purchase of $6,000. The total price will be the bid price of $6,000 + 10% BP (Capped at $5,000) $500 + 5% Online Fee $300=$6,800. Shipping NO SHIPPING PROVIDED – BUYER MUST MAKE THEIR OWN ARRANGEMENTS IF THEY DESIRE SHIPPING. AUCTIONEER WILL NOT PACKAGE OR HANDLE ANY ITEMS. AUCTION COMPANY CAN PROVIDE THIS SERVICE FOR AN ADDITIONAL FEE IF NEEDED. Settlement Terms All purchases must be settled on Sale Day or within 1 business day following the sale, and prior to removing any items. Auctioneer is granted authority to charge the credit card on file for the balance due immediately following the auction. A handling fee will be charged for all credit card transactions. All items exceeding $3,500 must be paid by cash, check, or wire transfer. If desire is to pay by Wire Transfer, Cash, or Check please notify auctioneer prior to auction ending. Cash will only be accepted on sale day unless other arrangements are made in advance. Company and Personal Checks must have a Bank Letter of Credit if amount owed is greater than $1,500. All checks should be made payable to DL&PS Auction Services. All wire transfers should contain the bidder name, the buyer number and sale date in the subject line. Wire transfer ***Sample Bank Letter of Guarantee***Must be on bank letterhead***Original*** (Date) "(NAME ) is a customer of this bank, (NAME OF BANK, BRANCH, LOCATION, ADDRESS, PHONE#). This bank will guarantee unqualified payment to DL&PS Auction Services, P.O. Box 72, Dayton, TX 77535 on account # _________up to the amount of $_________. No stop payment will be issued regarding this transaction. This letter expires on (please write the date as 30 days from auction date)" Sincerely, (Bank representative) Sales Tax State, county, and local sales tax applied to invoice total, including buyer’s premium. If applicable, off-road diesel vehicles over 50 HP will be charged TERP tax fee, required by the Texas Comptrollers Office. All Sales will be subject to State and Local Sales Tax Laws set forth by the Texas Comptrollers Office. Tax Exemptions Any person with a Texas Resale Tax Exemption must present it at auction registration or before checking out. A person claiming an exemption from sales tax for farm use on certain items is required to have a Texas Agriculture Exemption registration number. The following items DO NOT qualify for sales and use tax exemption for agricultural production. • Automotive parts, such as tires, for vehicles licensed for highway use, even if the vehicle has farm plates • Construction materials utilized for housing, storage, or workspace (examples include general storage barns, sheds or shelters) • Clothing, including work clothing, safety apparel and shoes • Motor vehicles and trailers • Computers and computer software used for any purposes other than agricultural production • Pet food • Furniture, home furnishings and housewares • Taxable services such as nonresidential real property repairs, golf carts, dirt bikes, dune buggies and go-carts remodeling, security services and waste removal • Guns, ammunition, traps and similar items • * See www.comptroller.texas.gov/taxes/ag-timber/. Liability ALL BIDDERS AT THE AUCTION SITE ARE THERE AT THEIR OWN RISK. BIDDER AGREES THAT THE AUCTION SITE IS POTENTIALLY DANGEROUS WITH MOVING EQUIPMENT AND OTHER HAZARDS. ALL PURCHASES ARE MADE AT THE BUYERS DISCRETION. NEITHER DAYTON LEASE & PIPELINE SERVICES (dba DL&PS AUCTION SERVICES), ITS MANAGEMENT, PARTNERS, EMPLOYEES, SUBSIDIARIES, SALE MANAGEMENT, AUCTIONEERS, CONSIGNERS, OR ANY OTHER PARTY WILL BE RESPONSIBLE FOR ANY ACCIDENTS, INJURY, OR ILLNESS THAT OCCURS ON ANY PROPERTY OR SALE SITE UNDER IT’S CONTROL. BY ACCEPTING THESE TERMS, THE BIDDER AGREES TO INDEMNIFY AND HOLD HARMLESS DAYTON LEASE & PIPELINE SERVICES, INC (dba DL&PS AUCTION SERVICES), ITS MANAGEMENT, PARTNERS, EMPLOYEES, SUBSIDIARIES, SALE MANAGEMENT, AUCTIONEERS, CONSIGNERS, OR ANY OTHER PARTY REGARDLESS OF FAULT FOR ANY ACCIDENT OR INJURY WHERE A LOSS MAY OCCUR. NO WARRANTIES. ALL ITEMS ARE SOLD AS/WHERE IS WITH NO WARRANTY OR GUARANTEES EXPRESSED OR IMPLIED. ALL SALES WILL BE CONSIDERED FINAL AND WITHOUT RECOURSE. IN THE EVENT OF ANY LEGAL DISPUTES, THE CHOICE OF VENUE SHALL BE LIBERTY COUNTY, TEXAS. Inspection We encourage all prospective bidders, live or online, to inspect all items before bidding. All items will be available for onsite inspection prior to the sale and typically several days in advance. Bidders will not be entitled to any allowance, adjustment, damages, or any other remedy regarding the condition of items purchased. While the Auctioneer makes every effort to honestly represent auction items, is the Bidders responsibility to determine condition, age, genuineness, value, or any other determinative factor. Hours are listed as shown on equipment. Auctioneer does not guarantee authenticity of listed equipment hours nor will be responsible for any errors or omissions in the description of the merchandise. Online Bidding The Auctioneer is providing online bidding as a service to both Bidder & Seller. If service is interrupted or a communication error occurs, under no circumstances shall Bidder or Seller have any kind of claim against Auctioneer financially or otherwise. International Buyers International buyers are always welcome but may have additional requirements at registration in order to bid. Risk of Loss The Buyer is responsible for their items once the online auction closes. Buyer assumes all risk and holds neither DL&PS Auction Services nor Seller harmless of any liability resulting from theft, accidents, or fire. The Buyer agrees to obtain full liability insurance coverage as may be required by law. Titles Titles are not available on sale day and will be mailed to the purchaser approximately 10 business days after satisfactory settlement. No items will be sold in auction unless the title is present before the auction. No titles will be available if vehicles are marked 'No Title'. Loading / Shipping The Buyer is responsible for all shipping logistics and costs. All items must be removed no later than 5 business days after the sale. DL&PS Auction Services or employees are not responsible for loading or unloading equipment but will assist you with your equipment. We are not responsible for securing loads. We will have several trucking companies on hand during the sale to assist with trucking needs should they be requested. All trucking costs are the responsibility of the buyer. Agency The Auctioneer is an agent of the seller and has completed a consignment contract with the seller. All auctions are with Reserve, unless stated otherwise. The Auctioneer is permitted to place bids on behalf of seller or an absentee bidder at their sole discretion. Auctioneer is granted access to preview all bids placed during auction, including proxy bids. Reserve Bids This auction is with reserve. At the conclusion of bidding, all items will be marked as either sold, reserve not met, or pending call. • If a lot is placed on a pending call, the highest bidder will be responsible for the bid price until the item is either marked sold or passed. • THE HIGHEST BIDDER ON A LOT MARKED “PENDING CALL” WILL BE RESPONSIBLE FOR THE BID PRICE IF THE SELLER ACCEPTS THE PRICE. DL&PS Auction Services, a full-service auction company specializing in selling construction equipment, industrial equipment, and farm/ranch equipment. Please contact one of our Auctioneers at 1-936-258-4859 to discuss your auction needs.