GENERAL RULES 1) MECUM AUCTION INC. is merely performing an auction service, and is responsible only for their warranties and guarantees set forth herein, herein referred to as Auction Company. 2) Purchaser agrees to accept ownership of merchandise/property at the fall of the gavel and he/she willingly assumes all responsibility and liability for said merchandise/property at that time and without exception. 3) Purchaser’s Agreement: PURCHASER agrees to purchase Said Lot for purchase price of last bid plus buyer’s premium; that upon making settlement that NO stop payment of funds will be honored; and any stop payment order of check or giving a check which is returned marked “insufficient funds”; shall be deemed by the parties to be prima facie evidence of Fraud existing at the time the transaction was consummated and shall be construed by the parties as an intent to defraud in order to consummate the transaction. 4) All transactions are to abide by the Laws and Rules of Uniform Code of the state in which the sale is held. 5) ALL bids are to be per lot unless otherwise mentioned by the Auctioneer. 6) The highest bidder is to be the buyer. In all cases of disputed bids, the lot shall be resold, but the auctioneer will use his judgment as to the good faith of all claims and his decision is final. 7) BIDDERS are required to register and give full identification prior to bidding and are required to use the number issued to them when identifying themselves as the successful bidder. Invoicing on purchases will be done according to the information on Bidder’s application. 8) Automobiles are offered for sale by Lot Number. The auctioneer will accept bids from the bidders present in the room, absentee bidders by telephone, absentee bidders who leave written bids in advance of the auction, or bidders submitting bids over the internet. The auctioneer may also execute bids in response to salesroom, telephone, or absentee bids. The auctioneer has the right to place a bid for consignor up to the reserve amount. Under no circumstances will the auctioneer place a bid on behalf of the consignor at or above the reserve. Further the consignor has the right to “lift” the reserve price whereupon it will be sold to the highest bidder at the hammer. When the reserve has been lifted, the auctioneer will duly announce it. 9) The seller will afford every opportunity to view all lots prior to sale. However the purchaser must understand that he/she is buying property entirely upon his own or his agent’s examination and opinion. All lots are sold “AS IS, WHERE IS." Any guarantees written or implied to the authenticity, originality, or condition of any lot are not the guarantee of the Auction Company, and should be relied on by the purchaser’s own inspection and discretion. 10) SHOULD any dispute arise after the sale, the auctioneer’s records shall be conclusive in all respects. 11) MECUM AUCTION INC. IS NOT RESPONSIBLE FOR LOST, STOLEN, OR DAMAGED PROPERTIES. 12) MECUM AUCTION INC. IS NOT LIABLE FOR ANY THIRD PARTY LIABILITIES. MECUM AUCTIONS is not responsible for any and all liabilities. 13) MECUM AUCTION INC. will supply an area for cars that do not reach agreeable sale price, so as to endeavor to secure a proper buyer for the seller/consignor. a. This area will be staffed by MECUM AUCTION INC. to accept offers on such vehicles. b. Any and all vehicles sold in this manner will be sold by the same terms as cars sold on the auction block. 14) MECUM AUCTION INC. is entitled to any fee on any vehicle sold due to Mecum Auction Inc. event up to 21 days after said event. 15) MECUM AUCTION INC. shall be entitled to any Attorney’s Fees incurred in the enforcement of this rules contract or the enforcement of Sell/Buy Agreement. 16) Upon being awarded high bid, you are responsible to pay end hammer price plus auction fee. Non-payment will deem you liable for any losses incurred in the resale of said lot # to include, but not inclusive of freight, storage, difference in received value, auction fees. 17) Purchaser authorizes, without further notice, MECUM AUCTION INC. to recover any deficiencies due seller and/or MECUM AUCTION INC. and to charge purchaser’s credit card for said amount(s). 18) If the buyer fails to comply with any of these General Rules and Terms MECUM AUCTION INC. may, in addition to asserting all remedies available by law including the right to hold such defaulting buyer liable for the purchase price (i) cancel the sale, retaining as liquidated damages any payment made by the buyer, (ii) resell the property without reserve at public auction or privately on seven days notice to the buyer or (iii) take such action that we deem necessary or appropriate. If MECUM AUCTION INC. resells the property, the original defaulting buyer shall be liable for the payment of any deficiency in the purchase price and all costs and expenses, including warehousing, the expense of both sales, responsible attorney’s fees, commission, incidental damage and all charges due hereunder. In the event that such buyer pays a portion of the purchase price for any or all lots purchased, MECUM AUCTION INC. shall apply the payment received to such lot or lots that MECUM AUCTION INC., in our sole discretion, deems appropriate. Any buyer who fails to comply with these General Rules and Terms will be deemed to have granted MECUM AUCTION INC. a security interest in, and MECUM AUCTION INC. may retain as collateral security for such buyer’s obligation to Mecum Auction Inc. any property in Mecum Auction Inc. possession owned buy such buyer. MECUM AUCTION INC. shall have benefit of all rights of a secured party under the Uniform Commercial Code adopted in the state where the auction is held. This agreement shall be governed by and interpreted under the laws of the state of Illinois. By signing this document, both parties agree that any action that must be taken to enforce the terms of this agreement shall be brought in the Circuit Court of McHenry County, Illinois. 19) Any litigation brought forward by bidder/purchaser will be against seller. Mecum Auction Co. is merely performing an auction service, and does not own the property. Upon litigation, bidder/purchaser will not be entitled recovery of fees earned by Auction Co. Duly performing its service. 20) Each provision of this Agreement is declared to be separable from every other provision. If any provision is held invalid, such invalidity should not affect any other provision, and all other provisions shall remain in full force and effect as if the invalid provision had not been included herein. All terms or conditions not specifically covered by this Agreement shall be promulgated and enforced by Auction Company in its sole discretion. 21) Bidder hereby irrevocably submits to the process, jurisdiction, and venue of the courts of the State of Illinois, McHenry County, and of the United States District Court of Illinois, for purposes of suit, action or other proceedings arising out of or relating to this Agreement. 22). In the event that the Event does not take place, in whole or in part, due to any Act of God or of force nature, including without limitation, weather, fire, flood, strike, labor dispute, civil commotion, terrorist act, riot or threat of violence or similar cause beyond the control of the parties, Bidder shall not be entitled to any refund of fees paid. 23) In the event that Auction Company is involved in any legal action to enforce the terms and provisions of this application and Agreement, Auction Company shall be entitled to recover all of its reasonable costs and expenses, including reasonable costs of collection and reasonable attorney’s fees. 24) This Agreement and attached Bidder Application contain the entire agreement between the parties regarding the subject matter discussed herein and may not be modified in any manner nor may any rights herein be waived except by an instrument in writing signed by the party to be charged in such modification or waiver. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns, and shall be construed in accordance and governed by the laws of the State of Illinois. TERMS 1) Buyers are subject to a 10% Buyer’s Premium at end hammer price. 2) Titles on purchased vehicles will be processed within 14 working days contingent upon confirmed payment. 3) All online purchases must be paid for within one (1) business day of purchase and prior to pickup.