These are Kiefer Auctioneers Terms & Conditions for this auction. They consist of the complete outline below between you (“the Bidder”) and Kiefer Auctioneers known as (“Auctioneer”). These purchaser Terms and Conditions (“Purchaser Terms”) apply to all bidding at any auction conducted by Kiefer Auctioneers, LLC, hereinafter called (“Auctioneer”). By registering to participate in an Auctioneer auction sale, whether at a live auction sale, via online bidding in a timed internet auction or a live internet auction (“Online Bidding”) or by electing to purchase equipment or other auction items (“Auction Items”) by clicking the "Bid Now" and “Buy Now” icon on the applicable Auctioneer online marketplace (each, an 'Auction'), each person or entity (“Bidder”) expressly agrees to abide by these Purchaser Terms. Participation in an Auction by any person under the age of 18 is strictly prohibited and in violation of these Purchase Terms. A Bidder who is the highest accepted bidder at a live Auction or an Online Bidding Auction, or a person or entity purchasing an Auction Item, is referred to herein as a “Purchaser”. By registering to bid in Auctioneers auction, the Bidder hereby agrees and understands that they have read, understand, and agree to abide by Kiefer Auctioneers Purchaser Terms & Conditions by becoming a registered bidder. It is the bidders responsibility to obtain and understand these Terms and Conditions prior to bidding on any items and/or lots. The bidder agrees to accept and be legally bound to the Purchaser Terms and Conditions. Additional Terms may be posted or announced from the Auction Block the day of auction, which shall also become legally bound to the Bidder. It is solely the Bidders responsibility to request the Purchaser Terms and Conditions for each auction from Auctioneer. All announcements made by auctioneer the day of auction, shall supersede any printed or oral materials. Kiefer Auctioneers Terms & Conditions Kiefer Auctioneers Public Auction: May 15, 2021 The Paddack Ranch: 7235 Plainview Rd., Krum, Texas 76249 Follow Auction Signs On-site Live Auction Start Time: 10:00am Online Live Simulcast Bidding via ProxiBid: 10:00am Please arrive EARLY for Bidder Registration! Auction Preview Date: Friday, May 14, 2021 from 10:00am-3:00pm 1. This is a Public Auction. By registering to bid in this auction, you acknowledge and agree to Kiefer Auctioneers Terms & Conditions. Bidding on-site will begin at 10:00am. Online Live Simulcast Bidding will start immediately at 10:00am CST via ProxiBid. Lots will begin with Lot#1 and end with the last Lot# and bidding will be available through online bidding via simulcast through ProxiBid while utilizing a ProxiBid agent with a live auction staff ring man present at the on-site auction. Bidders must provide a valid credit card to register to bid online. Auctioneer reserves the right to remove any item(s) from auction or skip item(s) once auction has begun. In the event an item is removed from auction or skipped any prebids / absentee will be void. A 2. Payment will be processed immediately after each lot is sold. You MUST check out and process payment with a staff member of Kiefer Auctioneers at the on-site office. Payment can be made by online via credit or debit card with a 3.79% convenience fee, or by an authorized Wire Transfer with approval from Kiefer Auctioneers, Check with a Bank Letter of Guarantee, (with permission from the Auction Company PRIOR to the start of the auction) or by cash or cashier’s check. Kiefer Auctioneers must have a Bank Letter of Guarantee PRIOR to bidding in the auction if purchasing with check. Any check written over $250 must clear the bank before the buyer will be able to remove their items.  No exceptions.  So, we HIGHLY ENCOURAGE YOU TO BRING CASH.  International Buyers must wire transfer full payment in US dollars directly from your bank to Kiefer Auctioneers bank account no later than the Monday following the auction date. No International checks will be accepted. International Purchasers are required to wire transfer full payment directly from Purchaser’s banking institution to Auctioneers bank deposit account the Monday following the auction date. International checks will not be accepted. All buyers should be available by cell phone (or other phone number provided at registration) immediately following the auction. Once payments are received, a paid invoice will be given to the winning buyer to present to auction staff when removing any item. A paid invoice will be required to remove purchases. No items may be removed until payment is made in full. AUCTIONEER IS NOT RESPONSIBLE OR LIABLE FOR ANY ITEM(S) NOR THE ITEM(S) CONDITION AT THE COMPLETION OF THE AUCTION. The Purchaser is fully responsible for the item(s) purchased at the conclusion of the auction and releases any and all liability from the Seller and Auctioneer. Should Purchaser fail to pay in full for an Auction Item(s) within 48 hours following the completion of the auction, Purchaser shall remain fully responsible for the purchase price therefor and the buyer’s fee applicable thereto. In addition to all other rights of Auctioneer contained herein, if a default occurs and Purchaser has not made full payment by 48 hours from auction completion, Auctioneer may, in its sole discretion, elect to: (a) charge a 2% late fee and, for so as long as the default continues to occur, all outstanding financial obligations shall bear interest at the interest rate of 18% ANNUM (the “Default Interest Rate”) . The Default Interest Rate shall apply from the date of the default through the time any judgment thereon is paid in full; or (b) declare any Auction Item(s) for which full payment has not been received a “No Sale” and charge a 20% restocking fee with respect to each such Auction Item equal to the greater of (i) 20% of the applicable sale price for the Auction Item or (ii) $250. • If for any reason a court or arbitrator(s) deems the Default Interest Rate excessive or impermissible, the arbitrator(s) or judge shall impose the maximum default interest rate permitted and all other terms contained herein shall remain valid and enforceable. The Bidder acknowledges and agrees that Purchaser shall be responsible for any applicable towing, storage and restocking fees and all reasonable attorneys’ fees, court costs, default interest and other costs incurred by Auctioneer associated with the enforcement of this provision. Additionally, the Bidder agrees to pay for purchases, and Bidder represents that he/she has funds necessary for such payment and purchased items. All item(s) must be paid in full before bidder leaves the auction premises. No item(s) will be removed until payment is made in full. Payment not made by final removal date deadline will be subject to late fees, penalties, and any and all interest plus, any and all expenses related to collection cost. Should Bidder fail to pay for any or all purchased item(s), for whatever reason, including an insufficient check or stopped check, and credit card charge back, Auctioneer shall have the cumulative and legal rights set forth herein these Purchaser Terms and Conditions of the auction. Auctioneer will contact the District Attorney and/or Sheriff's Office, for any checks that are returned for insufficient funds, stopped payment, or closed account and will proceed with all necessary legal action as needed for collection and / or prosecution. Bidder agrees to not reverse or dispute charges for purchases paid for by credit card. By agreeing to the these Terms and Conditions of auction, the Bidder does authorize Kiefer Auctioneers, LLC to capture and collect any and all balance due on an invoice and charge credit cards on file if the invoice is not paid in full within 48 hours of auction completion. If any form of payment does not go through and the winning buyer cannot be reached by cell phone within 2 hours of Auctioneer notifying the Purchaser, Auctioneer reserves the right to re-sell the item(s) to the back-up bidder without notice and solely up to the Auctioneers discretion. There will be 10% Buyer's Premium added to the items purchased price, in addition to any tax and other fees imposed. 3. Sales Tax: will be charged unless the buyer has provided a signed Sales Tax Resale Certificate or Agriculture Exemption Certificate. All buyers MUST email or provide their signed resale certificate or agriculture exemption certificate prior to the end of the auction in person or emailed to: info@kieferauctions.com or Sales Tax will be applied. No exceptions will be made. International buyers will be required to pay sales tax unless, the purchaser is eligible for a refund of such sales tax after presenting the Auctioneer with a signed bill of lading from a Licensed and Certified Shipping Company that is authorized and approved to ship exports into such Country and showing the Auction Item(s) have been successfully removed from the State of Texas. Furthermore, the Bidder understands they are liable for payment of sales or use taxes which may become due for failure to comply with the provisions of Federal, State, and Local tax codes for any item(s) sold as tax exempt or for resale. The Bidder additionally understands that it is a criminal offense to give an exemption certificate to the seller for taxable items that the bidder knows is a taxable purchase at the time of purchase, and will be used in a manner other than that expressed in the certificate and depending on the amount of tax evaded, the offense may range from a Class C Misdemeanor to a Felony of the Second Degree. 4. Removal: Immediately following the conclusion of the auction until 5:30pm or 1 1/2 hours from the conclusion of the auction. Any additional arrangements MUST be made with the Auctioneer immediately following the auction in writing with buyer and auctioneer signature authorizing agreement. AUCTIONEER DOES NOT OFFER SHIPPING BUT CAN PROVIDE SHIPPING RECOMMENDATIONS. SHIPPING IS NOT INCLUDED IN BUYERS PURCHASE PRICE. Bring your paid receipt for removal of all items purchased. Anything remaining after removal time will be considered abandoned. The Auctioneer is not obligated to issue you a refund if you are unable to pick up and remove your items during the published removal times. Auctioneer, nor Seller, is responsible for any type of thefts, accidents, fires, and/or property damage and personal injuries. 5. Firearm sales: must comply with applicable Texas & Federal regulations, and a “DENIED” status issued by the NICS System will not cancel the successful bidders obligations purchase payment. Firearm purchases not picked up in person must be transferred to a FFL Licensee Dealer. BUYER AGREES TO HOLD HARMLESS KIEFER AUCTIONEERS, THE OWNERS OF THE PROPERTY BEING AUCTIONED OFF AND ANY EMPLOYEES FROM ANY LIABILITY RESULTING FROM THE PURCHASE OF INHERENTLY DANGEROUS PRODUCTS. The cost of shipping and transfer from the Licensed Dealer being used to the designated FFL Licensee Dealer is the buyers responsibility for each firearm. ALL SALES ARE FINAL. All items are offered subject to federal, state and C.I.T.E.S. treaty requirements. All buyers must pass a background check before picking up any firearms. No exceptions will be allowed. 6. Loading On-Site: Kiefer Auctioneers will be onsite to help load anything out within reasonable weight from the auction. If additionally loading requirements are needed, that is the buyers responsibility. 7. Contract Movers: If buyer wishes to hire or contract with a machinery mover or other such type of outside contractor, the Auctioneer will not allow them to work on the sale premises unless they have placed with the Auctioneer PROPER INSURANCE protecting Kiefer Auctioneers, and the owner, against any or all such claims arising from personal injury and/or property damage created by their actions. This requirement is for the Seller’s and Auctioneer’s protection – NOT FOR BUYER’S, therefore the Auctioneer suggest that the buyer review the insurance policies of the machinery mover or contractor regarding the coverage they have, protecting the purchaser and damage or loss of the equipment they may be moving for the buyer. Any buyer who brings their own motorized or powered equipment onto the sales premises to dismantle or remove equipment, must provide the Auctioneer with PROPER INSURANCE as stated above. 8. Everything is sold “As-Is”: NO WARRANTY; AS-IS/WHERE-IS AUCTION SALES: ALL SUCCESSFULLY BID OR PURCHASED AUCTION ITEMS AT AN AUCTION ARE SOLD ON AN “AS-IS WHERE-IS” BASIS WITHOUT ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, NON-INFRINGEMENT, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. THE DESCRIPTION OF EACH AUCTION ITEM IS SOLELY FOR THE PURPOSE OF IDENTIFICATION AND DOES NOT CONSTITUTE A REPRESENTATION OR WARRANTY THAT THE AUCTION ITEM WILL CONFORM TO SUCH DESCRIPTION OR TO ANY CONDITION REFERRED TO THEREIN. NEITHER AUCTIONEER NOR THE AUCTION ITEM SELLER (“SELLER”) MAKES ANY WARRANTY THAT THE AUCTION ITEM WILL PROPERLY FUNCTION OR OPERATE WHEN REMOVED FROM THE AUCTION SITE NOR THAT IT WILL CONTINUE TO OPERATE OR FUNCTION FOR ANY PERIOD OF TIME AFTER SUCH REMOVAL. Bidders should rely solely on their own inspection of all items prior to the sale and should satisfy themselves as to the usefulness and value of each item. Any statement in the description regarding the items to be sold should be considered a limited guide only. Any error in description does not relieve the buyer or his/her agent of their responsibilities to inspect. There are NO REFUNDS OR RETURNS. 9. Bidding; Buy Now: (a) When bidding at a live Auction, after the winning bid has been established by Auctioneer, the bid will be automatically accepted by Seller and create a binding obligation to purchase and sell the Auction Item between Purchaser and Seller (a “Binding Obligation”). (b) When Online Bidding, Proxibid is the final judge for determination of winning bids and, upon such determination, the bid will be automatically accepted by Seller and create a Binding Obligation between Purchaser and Seller. Purchaser and Seller will be notified of the completion of the Binding Obligation by an email or other notification generated automatically by Auctioneer’s online marketplace. (c) When purchasing an Auction Item via “Buy Now” on Auctioneer’s website, by clicking the “Buy Now” icon for the listed purchase price of such Auction Item, the purchase commitment of Purchaser will be automatically accepted by Seller and become a Binding Obligation between Purchaser and Seller. Purchaser and Seller will be notified of the completion of the Binding Obligation by an email or other notification generated automatically by Auctioneer’s online marketplace. (d) Should a Bidder become the winning Purchaser at an Auction, such Purchaser will be contractually obligated to pay for and remove the Auction Item from the lot where such Auction Item is located in accordance with the paragraph entitled Removal of Auction Items below. Bids cannot be removed for any reason after 8 a.m. Central Time on the close date of Auction. 10. Bidder’s Duty: To Inspect and Investigate: You acknowledge that the Auctioneer is providing you with the opportunity to inspect the items being offered for sale in this auction. The Auctioneer strongly encourages you to attend the scheduled Auction Preview Day for this auction, which will take place on the date listed above or make an appointment with the Auction Company prior to the day of auction. If you choose not to attend the scheduled preview or are in doubt about the condition, completeness, or suitability of a given item, please bid accordingly. After a Bidder has won the bid with his / her high bid, all risk of loss and damage passes to Bidder, even though Bidder may have not paid for the item(s) yet. Buyers should pay and guard their item(s) accordingly. 11. Choose Wisely: We want everyone to get a good deal and most will. However, when you bid on the wrong item or decide an item is not suited for your intended use, our sellers will not assume the cost of your mistakes. You agree that your failure to inspect or otherwise become fully informed about the items offered for sale in the auction will not be grounds for refusal to pay any and all amounts due, nor for any claim against the Auctioneer. 12. Inspections: Neither Auctioneer nor Seller is responsible for any inspections prior to or after the purchase of any auction item. Descriptions provided by Auctioneer are solely for the purpose of reporting on the visible condition of the Auction Item(s) major systems and attachments observed on the day of inspection and do not include road testing or load testing of mechanical condition. Purchaser acknowledges that conditions can change during the time between initial inspections, auction and time of removal. Purchaser is solely responsible for any inspection required with respect to equipment or vehicle Auction Item(s) that have upper units or chassis (e.g., cranes, man lifts, buckets, diggers, construction equipment, trailers or vehicles of any type). Purchaser is solely responsible for ensuring that each Auction Item is given thorough inspections according to the manufacturer’s recommendations by only those persons who are able to detect and assess defects and potential hazards that could limit the safe performance of the Auction Item’s functions. Bidder agrees it is bidders responsibility to inspect each item before bidding, and acknowledges that Auctioneer makes no guarantee or warranties, either expressed or implied, as to the condition of any item. Bidder agrees and understands that descriptions or statements in the auction catalog and internet websites are only for a guide and Auctioneer makes no guarantee of the accuracy of the descriptions in the catalog or on internet websites. 13. Injury and Damage: Bidder acknowledges responsibility for any personal injury or property damage caused by Bidder, Bidders guests, or agents. Bidder agrees to hold harmless Kiefer Auctioneers, LLC and Seller, from any personal injury to himself, guests, agents, and any property damage incurred on auction premises. Bidder releases Auctioneer and Seller from any and all liability connected with the removal and transportation of purchases and any and all future uses for the goods purchased herewith. 14. Buyer is Responsible: Seller, Auctioneer, and Purchaser expressly agree that the Purchaser is responsible for and agrees to indemnify Seller, Auctioneer and their respective affiliates for any and all damages (whether based on contract, tort, warranty, negligence, strict liability or any other legal theory, and including special, incidental and consequential damages), losses, expenses, attorneys’ fees, court costs, etc., that arise out of or result from the removal, possession or use of any items purchased at this auction, or any other claim regarding the use or possession of any asset purchased at this auction. 15. Chargebacks Prohibited: Buyer agrees that they will accept all charges placed on the credit card associated with your account, and you agree that you will not charge back any amount that the Auctioneer charges to your credit card. You agree that this provision applies equally to amounts charged in connection with any items you have won and any such buyer’s premium or sales tax applicable. 16. Default and Resale: You agree that if, after being declared the winning bidder, you fail to pay for any item that you have won for any reason, your account will be declared in default. If you still fail to pay for any item after being notified of your account’s being in default, you agree that the Auctioneer will have the right to immediately resell your item, and you further agree to pay (a) any cost associated with the resale and (b) any deficiency between your original purchase price and the resale price. 17. Disposal of Unclaimed Items: In the event, you refuse to pay for or abandon any item that you win at auction, the Auctioneer will have the option of reselling, removing, storing, or disposing of the unpaid-for or abandoned item. You understand and agree that you will be personally responsible for all deficiencies – and all legal, collection, transportation, and storage expenses – associated with your delinquent account and/or abandoned items. In the event of resale, you agree to pay any cost associated with the resale as well as any deficiency between your original purchase price and the resale price. 18. Suspension of Bidding Privileges: Bidder understands and agrees that any violation of these Terms and Conditions — and/or any unsafe or illegal activity during any auction-related event — may result in the Auctioneer suspending your bidding privileges indefinitely. Nothing in this paragraph will limit the Auctioneer’s right to any other remedies at law or in equity. Auctioneer reserves the right to revoke bidder number and bidding privileges from registered bidder and have that individual and their parties leave the auction premises. Bidder acknowledges responsibility for payment of any bids placed prior to revocation. Photography, video and audio recording is used on the premises and will be used for security and/or promotional purposes. 19. Titles to Vehicles: With respect to each vehicle Auction Item for which Auctioneer has received payment in full, unless otherwise provided in the Auction Item’s description on the Auctioneer’s online marketplace for the Auction Item, Auctioneer guarantees free and clear title to the vehicle Auction Item and Auctioneer shall use its best efforts in accordance with applicable law to obtain and convey to Purchaser title to such vehicle Auction Item; provided, however, that should a delay in the obtaining the title occur, Auctioneer shall in no way be responsible for any losses, damages, attorney’s fees, costs of any kind, interest, punitive damages or any other type of damages resulting from such delay and Auctioneer shall have no liability to Purchaser or any subsequent purchaser for any title delays for any reason whatsoever. Auctioneer may provide the name of Seller upon request by Purchaser. 20. Attendance At Auction Site: Each person attending an Auction acknowledges that an auction site is a potentially dangerous place. Flammable, corrosive and pressurized substances will be present, heavy equipment is being operated and electric circuits may be live. Each person attending an Auction at an auction site before, during or after the Auction shall be deemed to be there at his or her own risk with notice of the condition of the premises, the activities on the premises and the conduct of third parties, and each Bidder shall notify such Bidder’s agents and employees of the foregoing. No person or entity shall have any claim against Auctioneer, its agents, employees or principals for any injuries sustained, or for any damages to or loss of property which may occur from any cause whatsoever at an Auction site. 19. 21. Additional Terms: Auction Items may be added to the Auction. In an emergency situation, Auctioneer reserves the right to remove any Auction Item from the Auction. The information listed online or included in any Auction brochure is only a guideline and the accuracy of such information cannot be guaranteed. Bidder also agrees and understands by registering for an auction, the Bidder agrees to receive advertisements by email, regular mail, phone call or text message from Auctioneer. Bidder understands and agrees to any phone or text charges that may apply. 22. Communication; Information Sharing: Bidder authorizes Auctioneer to (i) contact it via phone, email or text regarding company business and (ii) process and share information regarding the bidder with the original equipment manufacturer (“OEM”) of any Auction Item purchased hereunder and any of the OEM’s dealers or service providers in Purchaser’s geographic area. Auctioneer shall have no liability to Purchaser for the disclosure of any information regarding such Purchaser to the applicable OEM, its dealers, service providers or other representatives. 23. Assumption; Waiver; Indemnity; Non-Sales: Purchaser assumes all liability whatsoever resulting from the possession, use or disposition of each Auction Item purchased at an Auction. Purchaser hereby releases, waives, discharges and covenants not to sue Auctioneer and each of its parent, subsidiaries and affiliates and each of their respective directors, officers, employees and other representatives (collectively, “Released Persons”) of and from any and all claims, liabilities, losses or damages that Purchaser may have or has ever had against any Released Person arising out of or relating to the Auction Items purchased at the Auction or use thereof, including without limitation, any liability or damage relating to injury to person or property. Purchaser hereby agrees to indemnify, defend and hold Auctioneer and its parent, subsidiaries and affiliates and each of their respective directors, officers, employees and other representatives (collectively, “Indemnified Persons”) harmless from any and all costs, expenses, damages and liabilities (including, without limitation, attorneys’ fees) incurred or sustained by, or imposed upon any Indemnified Person arising out of or relating to (i) the loading, transport, ownership, repair, maintenance (or lack thereof) and/or use of the Auction Items, and/or any property damage or bodily injury arising therefrom, or (ii) the enforcement of this indemnity by Auctioneer. In the event any Auction Item is deemed a “Non-Sale” by Auctioneer for any reason, Purchaser’s sole remedy shall be an adjustment to or refund of Purchaser’s invoice by an amount that shall in no event exceed the original purchase price of the adjusted lot and Auctioneer shall have no additional liability to Purchaser for any loss or damage arising from or relating to such “Non-Sale”. 24. Governing Law and Venue: These Terms and Conditions will be governed by and construed under the laws of the State of Texas. 25. Claims and Choice of Venue: Any claim or controversy arising out of or relating to these Terms and Conditions, or to any breach thereof, will be resolved exclusively by a state court having jurisdiction in Denton County, Texas, or in the Federal District Court of Texas, where federal jurisdiction exists. Each party hereby submits to the jurisdiction and venue of such courts. You agree that all claims instituted by you will be litigated on an individual basis, and will not be consolidated with any claim made by another party. You agree that any judgments awarded may be applied to and collected from you personally or corporately. Should you file an action contrary to this paragraph, the defending parties may recover reasonable legal fees and costs. Further, if you bring a claim against the Auctioneer and do not prevail, and/or if the Auctioneer takes action against you as a result of your violation of these terms and conditions and is the prevailing party, you agree that you will reimburse the Auctioneer for all reasonable legal fees and costs including reasonable attorney’s fees. 26. Entire Agreement: These Terms and Conditions contain our entire agreement and supersede any prior oral or written agreements relating to the same subject matter. 27. For questions, please contact Auctioneer, Cory Kiefer: (903) 821-8717 or info@kieferauctions.com. TX LC#16155