BY PLACING A BID AT A GUINN AUCTION COMPANY AUCTION, BUYER WARRANTS THAT BUYER HAS READ AND UNDERSTANDS THE FOLLOWING CONDITIONS OF SALE AND AGREES TO BE BOUND BY THEM. 1. REGISTRATION All bidders must register and qualify with Guinn Auction Company, Inc. prior to placing a bid. Guinn Auction Company, Inc. hereinafter referred to as Auction Company, reserves the right to refuse any applicant for bidding privileges and may revoke bidding privileges at any time. 2. TERMS 10% (onsite) 12% (online) Buyer's Premium will be added to the high bid to arrive at the total contract price. Payment will be due in full on the day of the auction and will be made in the form of cash, wire transfer, and credit card (additional 3% Convenience fee when using credit cards). No purchase will be released without payment as described above and until funds have cleared our bank. 3. SALES TAX Sales tax will be added to the purchase price including buyer's premium of all taxable purchases unless the buyer files with the Auction Company proof of exemption from all such taxes in a form that is satisfactory to the Auction Company and the appropriate governing authority. Proper proof of sales tax exemption must be provided upon registration prior to placing a bid. If sales tax is not collected and at a later date is determined due, buyer agrees that buyer will bear the liability of the sales tax for his/her purchase. All titled vehicles will be taxed at the DMV upon registration of title. All Louisiana residents and onsite buyers will be charged 10.5% sales tax (Excluding Titled Vehicles). All non Louisiana residents that purchase online and arrange their own shipping or pick up in person items won (Excluding Titled Vehicles) will be subject to 10.5% sales tax. All items purchased online that Guinn Auction Company arranges shipping for and delivers outside the state of Louisiana to non Louisiana residents will not be charged sales tax. It is the responsibility of all non-Louisiana residents that purchase online and have Guinn Auction Company arrange shipping of their items to be delivered outside the state of Louisiana to report and pay sales tax in accordance with their local and state government. 4. WARRANTY All property is being sold "AS IS, WHERE IS" WITH NO WARRANTY, EXPRESSED OR IMPLIED, INCLUDING BUT NOT LIMITED TO ANY WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE OR MERCHANTABILITY. All buyers must satisfy themselves as to the condition, authenticity, usefulness, and merchantability of the property prior to placing a bid. All information regarding this auction provided in written, verbal, or image form was derived from sources believed to be true and correct, but is not guaranteed or warranted by Guinn Auction Company, Seller, or Publisher. Guinn Auction Company makes no guarantees or warranties, expressed or implied, statutory or otherwise of any nature as to the conformity to any safety or pollution standard or any other standard or requirement of any applicable authority, law, or regulation. It is the sole responsibility of the buyer to ascertain, confirm, research, inspect, and/or investigate any property for sale at auction prior to placing a bid. Buyer expressly agrees that his/her bid is based entirely upon their own personal inspection and/or opinion of property being sold. 5. CONTESTED AND/OR LATE BID Auction Company will accept the highest bid and the highest bid shall be the purchaser. ALL SALES ARE FINAL when the auctioneer declares the property sold. The Auctioneer shall designate the buyer after each item of merchandise is auctioned. If a dispute arises between two or more bidders the auctioneer reserves the right at his sole discretion to reopen the bidding between bidders in dispute even after declaring item sold. Auctioneer reserves the right to accept, reject, or negotiate any and all bids. Some items may be sold subject to seller's confirmation or subject to reserve. 6. LOTTING The Auctioneer reserves the right to group lots, make lots smaller, or to add or to delete at his sole discretion, as well as the right to offer individually and/or by group. 7. RESALE The Auction Company reserves the right to resell any property that is not paid for in accordance to the terms as stated in this contract or any property left at sale site beyond announced checkout period (which property shall be deemed abandoned). Such items may be resold without notice to buyer and the buyer shall be responsible to the Auction Company and Seller for any expenses of resale and collection and any damages resulting from the resale. 8. NON PAYMENT (WALK OFF) IN THE EVENT OF NON PAYMENT DUE TO BUYER NOT FULFILLING THE TERMS OF PAYMENT AS STATED IN THIS CONTRACT, BUYER EXPRESSLY AGREES TO PAY A 20% FEE PER ITEM (or $1,000.00 per item whichever is greater) or forfeit whatever deposit may have been placed in order to receive bidding privileges. Buyer expressly agrees not to bid on his/her personal property to be sold. 9. TITLES AND/OR BILLS OF SALE There will be a $ 25.00 notary fee for all titled items and items requiring a notarized bill of sale. Titles will be certified mailed to the purchaser within 14 business days. Titles and Bills of Sale will not be issued until funds have cleared our bank. 10. DEPOSITS Some bidders may be required to place a deposit. Deposit will not be applied to the total due. Deposits will be returned within 48 hours of the close of an auction for non-winning bidders and within 48 hours of receipt of successful payment from winning bidders. Winning bidders who fail to complete payment in full will forfeit their deposit. 11. HOLD HARMLESS All buyers and their guest enter auction site at their own risk and will hold harmless and indemnify Guinn Auction Company, consignors, and landowners from any damages/personal injury occurring while on auction site. Any minor guest on sales yard will be accompanied by legal guardian and will be the responsibility of that person. To the fullest extent allowed by the law, buyers shall assume all risk and hold harmless Guinn Auction Company and its agents, consignors, and land owners for any and all liabilities that may arise including those related to: environmental hazards/pollutants; all risk to purchases including vandalism, theft, fire, or any other unforeseen occurrence or intentional act(s); any damages resulting from failure of negligence of the buyer or their agents to perform their obligations as stated in this contract; any damages arising from or related to the auction. Buyer further agrees to indemnify Guinn Auction Company for any costs, expenses, and attorney fees incurred in relation to any claims, actions, or losses related to this contract. This agreement constitutes the entire agreement of the parties. This contract shall be governed by and construed in accordance with the laws of the State of Louisiana. Any clause or portion of this contract which is contrary to Louisiana law shall be severed. If it is necessary to sever a portion of this contract it will be done so in the most restrictive and minimal manner that retains as much of the contract as possible. The parties agree that the remaining terms shall be enforceable and valid. I swear and affirm that all information I have given is true and correct and authorize the investigation of my credit worthiness. I HAVE READ AND UNDERSTAND ALL OF THE TERMS AND CONDITIONS OF SALE. I AM PURCHASING BASED ON MY OWN PERSONAL INSPECTION AND/OR OPINION OF PROPERTY BEING SOLD AND AGREE TO ABIDE BY ALL THE TERMS AND CONDITIONS SET OUT BY GUINN AUCTION COMPANY.