INTERNET GENERAL TERMS OF SALE You are invited to participate in this auction. All equipment will be offered for sale on the day of the auction at the auction location. Equipment offered will be located in yards other than the auction location, be sure you know exactly where the equipment is located prior to bidding. Kruse Energy & Equipment sells every lot, “as-is, where is, with all faults” and “no guarantee or warranties, expressed or implied”. Kruse reserves the right to refuse any person a bidder number and may revoke bidder privileges at any time. All print or internet descriptions in the brochure, trade advertisements, auction catalog or on the internet are only a guide. INSPECT THE EQUIPMENT BEFORE YOU BID. You will be charged a 5% Administrative/Internet fee on all purchases. All purchases must be removed by end of equipment checkout period shown below. NOTE: No purchase may be removed until paid in full. REGISTRATION: Internet Bidders must register for each individual auction and you must be registered for approval 48 hours prior to the auction. Anyone bidding on behalf of a third party must also register to bid and will be held responsible and liable for all purchases. No person shall bid on any item they own or on behalf of the owner. No exceptions! Buyers names are to remain confidential. The Auctioneer reserves the right to refuse any person a bidder number and may revoke the bidders’ privileges at any time. DEPOSIT: Unless you make prior arrangements with Kruse, you are required to place a refundable deposit of 25% of the total expected purchases or USD$10,000, whichever is higher. DEPOSIT MUST BE RECEIVED BEFORE YOU CAN BID. Failure to pay for purchases will result in a loss of your deposit. DEPOSIT TO BID - WIRE TRANSFER: Direct wire transfer from your bank per domestic or international wire transfer account information listed below. This deposit will be refunded if no purchases are made. INVOICE PAYMENT - WIRE TRANSFER: If successful, you will be invoiced for your total purchases plus all applicable fees and taxes less the deposit made. Your invoice for balance owed will be due and payable to Kruse on day of receipt of invoice and will be considered late 3 banking days after the auction termination. WIRE TRANSFER - DOMESTIC INSTRUCTIONS: Wire GRAND SAVINGS BANK PO BOX 451809 GROVE, OK 74345-1809 918-786-2203, Bookkeeping KRUSE ENERGY ESCROW ACCOUNT# 12013901 ROUTING# 303187675 **Please reference your Bidder Number** WIRE TRANSFER - INTERNATIONAL INSTRUCTIONS: Wire Bank of Oklahoma Swift Code: BAOKUS44 Credit Grand Savings Bank Account # 207205233 Final Credit to Kruse Energy & Equipment Account # 12013901 **Please reference your Bidder Number** SALES TAX NOTICE: U.S. state sales tax will be charged on all purchases and fees. Internet purchasers who are tax exempt in the United States must provide a copy of their SALES and USE TAX PERMIT, their Federal Identification Number and for proprietorship's, the purchaser's social security number, at time of BIDDER REGISTRATION. The company Federal Identification Number, or for a proprietorship, the purchaser’s social security number will also be required at registration. Buyer also agrees to pay any sales tax that may be assessed after payment has been received. ONLINE BIDDING: Online or left bids are provided as a service to the bidder. Bidder acknowledges that this service may not function properly during the sale. Bidders will have no claim over lost or missed bids from any source. Kruse Energy & Equipment Auctioneers, Inc. reserves the right to withdraw or re catalog items listed for auction for any reason. This may result in lost bids. NON-PAYING BIDDERS: Non-paying bidders for any reason will be reported to Proxibid and banned from bidding in future Kruse Energy & Equipment Auctioneers, LLC listings and auctions. Kruse Energy & Equipment Auctioneers, LLC. may at their discretion utilize credit reporting ,collection and or legal means at our disposal to collect the unpaid amount plus any associated costs. Any action taken by Proxibid is between Proxibid and the non-paying bidder. This may include permanent banning of said bidder from all Proxibid based auctions. No items may leave auction grounds without full payment being made. EQUIPMENT REMOVAL: No items will be removed until all items are PAID IN FULL, no partial removals, No Exceptions. Read the auction catalog for removal dates, times and checkout personnel contact information listed by individual yards. Storage charges may be charged for items remaining past checkout period. Buyer will be responsible for security of their purchases after normal checkout and 30 days after the auction, all remaining items will be considered abandoned property. LOADOUT: All loading/shipping costs are the BUYER'S RESPONSIBILITY. INTERNATIONAL BUYER NOTICE: Contact your customs broker in advance of sale day for information on your import/export obligations. Sales taxes will be collected subject to location of the equipment. Refunds, if any, will depend on your timely provision of all necessary export documents and bills of lading. Equipment dimensions and weights are your responsibility. RESALE OF MERCHANDISE: The Auctioneer reserves the right to reclaim any or all merchandise for any unpaid purchases in part or in full. Buyer agrees to pay any deficiencies from the initial sales price and all expenses incurred including attorney’s fees on merchandise that must be resold. In the event a buyer chooses to resale a lot, they must make up any deficiencies from the initial sales price. The resale of any merchandise is at the sole discretion of the Auctioneer. WARRANTY OR GUARANTEE: Every item is sold “AS IS, WHERE IS, WITH ALL FAULTS” and without warranty or guarantee of any kind, either written, expressed or implied, as to merchantability or fitness for a particular purpose or otherwise. There are no warranties or guarantees as to year, make, model, serial number, condition, performance, and/or dotting & numbering, and/or digital slide production. All items are listed as accurately as possible and information is derived from sources deemed reliable. However, Buyer must inspect all items personally and accept with any faults or defects. Buyer in no way holds Auctioneer or Seller responsible for any defects, inaccuracies or errors in any way. All announcements sale day supersede any printed material. Your bid indicates you have previously inspected the lot and your know what you are bidding on. CONTESTED OR TIE BID/LOTTING: In the event two (2) or more parties claim the same bid at the fall of the Auctioneer’s gavel (sold), the Auctioneer may re-open the sale and commence the bidding between said parties until a high bidder and new owner is established. This is entirely at the sole discretion of the Auctioneer and he may elect not to re-open the bidding if he deems the bid was late and the item was considered sold. The Auctioneer may also refuse any bid he deems as a mere fractional advance. The Auctioneer reserves the right to group, withdraw or break-apart any lot he determines is necessary. INDEMNIFICATION & HOLD HARMLESS/INJURY & DAMAGES: Bidders and their agents, employees or representatives agree to hold harmless Kruse Energy & Equipment Auctioneers, its agents, employees or representatives along with the same for the Seller for any damages, injury or death occurring on or near the auction site. The auction site shall include any yard or location at which any lot is located as well as the actual location where the bid calling is conducted. The Bidder agrees to enter any site at their own risk. No person shall have any claim against Kruse Energy & Equipment Auctioneers, its agents, employees or representatives along with the same for the Seller or Site Owner for any injury, damages or loss of life which may occur from any cause or nature. The Buyer also agrees to the same terms for load-out and check-out on all auction sites and will provide insurance where applicable. TITLES/BILLS OF SALE: All Titles and Bills of Sale, along with other pertinent documents will be mailed within a reasonable time period following the auction, allowing for satisfactory collection of all negotiable funds. Delivery of such documents is subject to receiving the documents from the Seller. Kruse Energy & Equipment Auctioneers is acting as agents only and any loss of title must be reconciled either through the Seller or the appropriate Government Agency. AGREEMENT: This agreement is between the Bidder/Buyer and Kruse Energy & Equipment LLC and shall be governed by and interpreted by the laws of the State of Texas. Registering to bid for this auction indicates that you have read and understand the complete terms and conditions of this auction. The yard locations are as follows: Yard #1 – Odessa, TX Yard #2 – Midland, TX Yard #3 – Big Spring, TX Yard #4 – Caldwell, TX Yard #5 – Trinidad, CO Yard #6 – Henderson, TX Sale Tax Percentage Applied By Equipment Location.