TERMS AND CONDITIONS OF AUCTION Please note there is an asking price/reserve that is required to be met to bid in this auction. PACIFIC AUCTION EXCHANGE, AS AGENT FOR THE SELLER will offer the property in auction according to the following terms and conditions: 1. Announcements made at the auction will take precedence over printed material. 2. THE PROPERTY IS SOLD AS IS, AND ALL SALES ARE FINAL. THE SUCCESSFUL BIDDER ACKNOWLEDGES THAT THE AUCTIONEER AND THE SELLER HAVE MADE NO IMPLIED WARRANTY OR REPRESENTATION OF ANY TYPE AS TO THE PROPERTY AND THAT THE PROPERTY IS SOLD WITHOUT ANY WARRANTIES WHATSOEVER, EXPRESSED OR IMPLIED, AND SPECIFICALLY THERE IS NO WARRANTY OF MERCHANTABILITY AND NO WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE. Though all descriptions and commentary are believed to be correct, in no event shall auctioneer or seller be held responsible for having made or implied any warranty of description, genuineness, condition, etc. The property is open to thorough public inspection and making a bid is an acknowledgment that each bidder has made ample opportunity to, and has inspected the property. 3. Auctioneer reserves the right to withdraw any item before or during the auction. 4. Only registered bidders may bid on the property being sold, any exceptions to this requirement shall be within the sole discretion of PACIFIC AUCTION EXCHANGE. No allowances, adjustments, or rescission of sale will be allowed based upon failure of the property to correspond to a particular need. The registered party will be responsible for any purchase made with this card. Destroy this number when leaving the sale. 5. A BUYER’S PREMIUM OF TEN PERCENT (10%) OF THE SUCCESSFUL BID WILL BE USED TO ESTABLISH THE FINAL CONTRACT PRICE BY ADDING THE PREMIUM TO THE SUCCESSFUL BID. 6. Bidder acknowledges that a 10% deposit will be required from the highest bidder at the time of the auction. The 5% deposit will be calculated from the final contract price as defined in paragraph 5. Bidder acknowledges that a $ 45,000. Cashier’s/certified check payable to PACIFIC AUCTION EXCHANGE will be required to bid at the auction, and that bidder will supplement these certified funds, as necessary, to make the 5% deposit. The successful bidder will be required to place the 5% deposit in PACIFIC AUCTION EXCHANGE’S trust account until the time of closing. 7. RESPONSIBILITY OF BIDDER AND INDEMNIFICATION. Bidder agrees to assume the defense of and indemnify and save harmless PACIFIC AUCTION EXCHANGE for all claims, loss, damage, injury and liability of every kind, directly or indirectly caused by the acts of Bidder and/or its agents in connection with this auction or the use of the property by the successful Bidder, regardless of responsibility for negligence. 8. If the foregoing conditions or any other applicable conditions herein are not complied with, in addition to other remedies available to PACIFIC AUCTION EXCHANGE and the Seller by law, including, without limitation, the right to hold the successful bidder liable for the bid price, PACIFIC AUCTION EXCHANGE, at its option, may either (a) cancel the sale, retaining as liquidated damages all payments made by the successful bidder, or (b) resell the property publicly or privately and in such event, the successful bidder shall be liable for payment of any deficiency plus all costs, including the holding costs of the property, the expense of both sales and PACIFIC AUCTION EXCHANGE commission (which is equal to the Buyers Premium) and incidental damages. In any action to enforce and/or recover damages pursuant to this paragraph 8, PACIFIC AUCTION EXCHANGE shall be entitled to recover its attorney fees, expenses, and costs of suit incurred in such action. 9. BIDDER AGREES THAT ANY CONTROVERSY OR CLAIM ARISING OUT OF THIS AGREEMENT OR THE AUCTION OF SELLER’S PROPERTY SHALL BE SETTLED BY ARBITRATION AS SET FORTH IN PARAGRAPH 19 OF THE AUCTION PURCHASE AGREEMENT. Thank you for your attendance and patronage. We hope you enjoy the sale and are able to make an advantageous purchase.