Kitzman Auction & Realty Company LLC Office Line 731-256-2703 Auction Consignment Sales 731-234-7170 Terms and Conditions for Buyers Buyer's Premium: A fee of 12% will be added to the final bid amount of each auction item. Additional Options: Wire Transfer Payment Instructions: Buyers are permitted to make payments through wire transfers. Administrative Fees: A charge of $125 applies to all titled or transferable items. A fee of $10 will be assessed on non-titled items sold for prices ranging from $0 to $499. A fee of $50 will apply to non-titled items sold at $500 and above. These fees are applicable regardless of the buyer's exemptions or their state of residence. Sales Tax: Sales tax will be collected according to applicable state regulations, with tax rates determined based on the physical location of the item(s). Payment Process: Winning bidders will receive notification of their successful bid on the day of the sale. Invoices will be emailed no later than the end of the first business day following the sale. Full payment must be submitted within three business days of the sale via WIRE TRANSFER International buyers must wire transfer payments directly to Kitzman Auction's bank account, as international checks will not be accepted. Domestic company and personal checks are accepted. Should the buyer fail to make full payment within the specified timeframe, they will remain liable for the purchase amount and any applicable buyer’s fees. Kitzman Auction reserves the right to impose a 2% late fee on outstanding balances, along with interest of 2% per month (the “Default Interest Rate”), or declare any auction items for which payment is unpaid as a “No Sale” and apply a 20% restocking fee based on the greater of 20% of the sale price or $250. If a court finds the Default Interest Rate excessive, it will adjust to the maximum allowable rate while keeping all other terms enforceable. All payments made via wire transfer are encouraged to call office and verify wiring instructions. Storage and Gate Fees: A storage fee of $25.00 per item, per day, will be charged starting on the 10th calendar day following the sale date. Additional gate fees may also apply at select locations. All item removals must be conducted by appointment, with pickups requiring at least 24 hours' notice before desired removal. Payment of storage fees must occur prior to the item’s removal. Items remaining unclaimed after 30 calendar days will be deemed abandoned. Currency: All transactions will be conducted in USD. Shipping Information: Contact our office for help with shipping, if necessary we can assist with lining up a shipper. Inspection Schedule: Buyers must contact Kitzman Auction to schedule inspection times for auction items. Checkout Requirements: All items must be picked up within 10 calendar days of the sale date without exceptions, and the buyer must present a 'paid in full' receipt during the removal process. Special Terms & Online Auction Conditions Introduction: These terms and conditions govern all auctions conducted by Kitzman Auction & Realty Company LLC. By registering to participate in any auction, including live or online bidding, you agree to these terms. Participation by anyone under the age of 18 is strictly prohibited. Auctioneer Role: Kitzman Auction & Realty Company acts as the agent for the seller and does not own the auctioned items. No Warranty; As-Is Sales: All auction items are sold on an 'as-is, where-is' basis. This means that purchasers agree to accept the items in their current condition without any guarantees regarding the condition, functionality, or fitness for a particular purpose. Descriptions of items provided during the auction are for identification purposes only and do not constitute any form of warranty or guarantee. The auctioneer and the seller do not perform inspections of the items, and no certification of operability is made. There is no assurance that the items will function in any capacity after removal from the auction site. Purchasers are encouraged to conduct their own thorough inspections prior to placing bids on any auction items, as the responsibility to assess the quality and suitability of the items rests solely with the purchaser. Auctioneer Errors and Omissions: Kitzman Auction & Realty Company LLC shall not be liable for any errors or omissions in the items listed in the auction. This includes, but is not limited to, inaccuracies in item descriptions, photographs, or other provided material. It is the sole responsibility of the buyer to verify information about item conditions, specifications, and other details before bidding. If an error occurs that materially affects the transaction, Kitzman Auction reserves the right to correct such errors at its discretion, which may include revising item descriptions or prices prior to the conclusion of the auction. However, no refunds or recompense will be offered if the buyer fails to realize that a mistake has been made after a bid has been placed. Inspection Responsibilities: Buyers are entirely responsible for performing any inspections necessary for their satisfaction with the items. Kitzman Auction does not provide warranties or guarantees regarding mechanical or electronic systems, and no claims related to the item's operational capabilities shall be honored after a sale. Buyers should ensure that they have fully assessed any potential hazards or defects before completing a purchase. Lack of proper inspection does not excuse a buyer from liability following a successful bid. Fees and Taxes: Buyers agree to pay any transaction or additional fees as outlined. Specific taxes will be applied in accordance with state and local laws, and buyers must supply any necessary documentation to Kitzman Auction within the stipulated time frames to ensure proper compliance. Title to Vehicles: Kitzman Auction guarantees free and clear title to all vehicle items for which full payment has been received, unless otherwise specified in the auction description. Should there be a delay in the title transfer process, Kitzman Auction assumes no liability for any related costs or damages resulting from such delays. All title transfers will be processed according to state law, and the auctioneer acts solely as an agent for the seller. Please allow up to 90 days for titles. Title Request Form: To receive an executed title within three days following the auction, buyers must complete and return a Title Request Form provided by Kitzman Auction. Titles will be processed according to the name and address on the auction registration unless the form is returned within the specified timeframe. Online Bidding Process: Auctions will utilize an established online bidding platform. All prospective bidders must pre-register, adhering to the attached terms and policies specified for online transactions. For help with online bidding concerns, bidders should contact the designated customer support number. Bidding Rules: Once a bid is confirmed by the auctioneer, a Binding Obligation is created. This obligates the winning bidder to purchase the auction item. In online bidding scenarios, the bidding platform serves as the final authority on bid acceptance. Buyers are bound by their bids, and any attempt to retract or cancel a bid after 8 a.m. Central Time on the auction date will not be permitted. Removal and Transportation of Items: Removal Responsibility: Buyers must collect auction items within ten calendar days of winning a bid. It is the buyer’s obligation to schedule the pickup with at least 24 hours' notice. A valid receipt evidencing full payment must be provided at the time of item collection. If Kitzman Auction staff are available to assist in loading, it does not diminish the buyer’s responsibility for the proper handling and securement of items. Should any items remain uncollected past the 30-day limit, they will be deemed abandoned, and Kitzman Auction will take possession to determine appropriate disposition. Digger Derricks and Aerial Devices: Specific clauses apply to multi-functional aerial devices and digger derricks. Buyers acknowledge receiving maintenance manuals (if available) and accept full responsibility for adhering to operational guidelines to safeguard against injury or damage. Safety and Liability Disclaimer: Attending an auction site comes with inherent risks, including exposure to hazardous materials and heavy equipment. Attendees acknowledge that they enter at their own risk and waive any claims against Kitzman Auction for accidents, injuries, or property loss incurred during participation. Additional Provisions: Kitzman Auction reserves the right to update or amend these terms as necessary. All agents, representatives, or contractors of the buyer must complete a Site Access Release and Waiver upon arrival at the auction premises to gain entry. Online Marketplace: Participation in online auctions presents inherent risks, including potential outages or interruptions in service. Kitzman Auction is not liable for any losses incurred due to such technical problems. Communication and Data Sharing: By participating, buyers consent to being contacted regarding auction-related matters. The auctioneer may share relevant information with manufacturers of purchased equipment for warranty and service purposes. Assumption of Risk and Liability Waiver: Upon winning a bid, the risk of loss or damage to the auction item immediately shifts to the buyer. Buyers must secure adequate insurance coverage for their auction items immediately after the Binding Obligation is established. Kitzman Auction & Realty Company LLC, along with the property owner of the auction site, shall not be liable for any losses or damages incurred after this transfer of risk, including those resulting from theft, accidents, natural disasters, or vandalism, unless caused by gross negligence or willful misconduct by Kitzman Auction or the site owner. Indemnification: Buyers agree to indemnify and hold Kitzman Auction, its affiliates, and their respective officers, employees, agents, and representatives harmless from any claims, damages, losses, or liabilities arising out of or relating to: The buyer's failure to comply with these terms and conditions. Any injury or damage caused by the buyer’s handling of auction items. Any legal actions taken against Kitzman Auction due to the buyer’s actions or omissions relating to the auction items. Class Action Waiver: Purchasers fully understand and agree that all claims related to these terms—whether arising from the auction process, the purchase of auction items, or any actions at the auction site—must be filed individually. By agreeing to these terms, the purchaser waives the right to participate in any class action or representative proceeding and also waives the right to a jury trial. Governing Law: These terms and conditions are governed by the laws of the State of Tennessee. Any disputes or legal actions arising out of these terms shall be brought exclusively in the U.S. District Court of the Western District of Tennessee or the courts of Crockett County, Tennessee. By engaging in the auction, both the buyer and Kitzman Auction agree to submit to the exclusive jurisdiction of these courts.