Commercial Sprinkler Business Liquidation | TIMED AUCTION Terms & Conditions All persons bidding or otherwise attending auction (?Bidders?) acknowledge the following Terms and Conditions and agree to be bound by them. FORMAT: TIMED AUCTION o SALE DAY - BIDS BEGIN TO CLOSE: Tuesday May 24, 2022 @ 11:00am ET o Bidders may leave pre-bids and/or participate real-time. o BIDDING BEGINS: Friday, May 20, 2022 @ 4:00pm ET o All bidders MUST register prior to placing bids o CLICK HERE for easy instructions on how to register to bid for this auction. o You are encouraged to use the "Max Bid" feature which represents your top bid o ONSITE BIDDING: o Onsite bidding is NOT available for this event LOCATION OF ITEMS: 3609 Mayland Ct Henrico Va. 23233 PREVIEW & INSPECTION: 9:00AM to 4:00PM Each of the following days o Thursday, May 19, 2022 o Friday, May 20, 2022 BID SUBMITTAL: o Motleys is not responsible for a bidder's inability to place any bid, by internet, phone, absentee or otherwise for any auction/sale for any reason. o In the event bidder loses internet connection, immediately call the office (804-486-4550) for assistance. o In the event of technology issues with Internet sales, the Auctioneer reserves the right to reopen or extend Internet bidding as it deems necessary and appropriate. BUYER'S PREMIUM: A 15% Buyer's Premium (minimum $10) will be charged for each lot purchased. PAYMENT TERMS: ALL PAYMENTS ARE DUE BY 4:00PM ET THE DAY FOLLOWING THE SALE o Payment Options: o Wire Transfer/ACH (see Wire Transfer Info below) o Visa, MasterCard, Discover (3% Credit Card Convenience Fee) o American Express (4% Convenience Fee American Express) o CREDIT CARD PAYMENTS MAY NOT TO EXCEED $20,000.00 o A $50.00 per day Late Payment Fee will be charged on any outstanding balance unless acceptable arrangements are made. o Motleys reserves the right to charge the successful bidder's credit card a recording fee of $1,000.00 which is applied to purchases. WIRE TRANSFER: o Truist, 919 East Main Street, Richmond, VA 23219; Account # 201 786 362; Routing # 061 000 104; Swift Code SNTRUS3A; Account Name - Motleys Auctions, Inc. o For International Wire Transfers, please confirm with your banking institution any transaction fees that may need to be allowed for and confirm that the correct amount is being wired. o No Direct Deposits in Person at the Bank to our account will be accepted. o No items will be released until receipt of wire transfer has been verified. REMOVAL: o Removal appointments are required o https://calendly.com/motleysindustrialrva/commercial-sprinkler-business-liquidation o Removal Deadline: Friday, May 27, 2022 by 4:45p. o ALL ITEMS MUST BE PAID IN FULL BEFORE REMOVAL OF ANY ITEM WILL BE ALLOWED. o Loadout: o Is the responsibility of the purchaser o Motley's personnel will: (1) direct you to the location of your item(s); (2) At their discretion, load palletized items o Motley's personnel may not: o Push, Pull, or Drive Equipment of Trucks onto trailers. o Stack trailers o Load large items o Storage Fee: Any item remaining after the Removal Deadline, a $10 per day, per item fee will be charged to the buyer until the item is removed. TITLES: o Titles are processed within ten (10) business days after payment and titles are received o A $40.00 title fee is charged for each titled item. o Any item(s) sold "Title Delay" o Must remain on the premises until the title document is available. o Title Delay documents are generally available within 30-90 days FINANCING: o FINANCING IS NOT A CONTINGENCY OF THE SALE. o You may contact the following vendors for options: o Navitas Credit Corp., Chuck Zegley, 800.422.1844, czegley@navitascredit.com o Wells Fargo Equipment Finance, Inc., Roderick W. Hart II, Territory Manager, 301.787.8692 (phone), 866.620.1607 (fax), roderick.hart@wellsfargo.com, o Go Capital, Brian Rose, Regional Account Manager, 855.396.3600 (phone), 949.271.4023 (fax), brian@gocapitalusa.com, o F. N. B. Equipment Finance, Zachary Roy, 410.935.5369 (cell), 800.278.6259 (office), 570.883.0928 (fax), royz@fnb-corp.com. ALL SALES FINAL: ALL ITEMS ARE SOLD ?AS IS?, ?WHERE IS?, WITH ALL FAULTS AND WITHOUT WARRANTIES OR GUARANTEES, EXPRESSED OR IMPLIED. 1. Bidding: Bidding is open to the public without regard to race, color, sex, religion, or national origin. All bidders are required to have a bidder's number to bid. To obtain a bidder's number, complete a registration form in person or online with all required information. 2. Bidding Procedures: (1) Method, order of sale, and bidding increments shall be at the sole discretion of the auctioneer. (2) The auctioneer reserves the right to delete or add items at its discretion. (3) Motleys may act to protect the interest of buyers and sellers as an agent, by bidding through the auctioneer. (4) The auctioneer may open bidding on any item by placing a bid as an agent for any buyer or seller. 3. Auctioneer Authority: Announcements (both verbal and written) made during the auction will take precedence over all printed material or oral statements made. The auctioneer has the authority, at his sole and absolute discretion, to deviate from, change, alter, or modify, the bidding procedures and conduct of the auction, at any time, including after commencement of the auction by announcing those modifications at the time of sale. 4. Bid Execution: Bids which are submitted to Motleys in writing, through the Internet, or otherwise placed with Motleys prior to or during an auction for execution at or below a specified price shall be entertained and executed by Motleys for the convenience of bidders. Motleys shall not be responsible for failing to execute such bids or for errors relating to the execution or such bids. Auctioneer is not responsible for a bidder's inability to place any bid, internet or otherwise for this auction for any reason. In the event of technology issues with Internet sales, or for other reasons, the Auctioneer reserves the right to reopen or extend Internet bidding as it deems necessary and appropriate. 5. Purchaser Defined: The highest bidder whose bid is accepted by Motleys Asset Disposition Group (Motleys or Auctioneer), is the Purchaser (Purchaser). The "Final Bid" shall be the Purchaser's bid as accepted by the Auctioneer, and all items are Purchased when the Purchase Price is accepted. 6. Buyer's Premium: The Buyer's Premium shall be paid by the Purchaser and will be added to the Final Bid on an item to determine the Purchase Price. If there is no Buyer's Premium, the Final Bid is the Purchase Price. See Section Buyer's Premium in the Sale Information portion. 7. ALL SALES ARE FINAL. Each item is auctioned "AS IS, WHERE IS, WITH ALL FAULTS" in its condition at the time of sale, WITHOUT any warranties or guarantees, either expressed or implied, INCLUDING BUT NOT LIMITED TO WARRANTIES OF TITLE, POSSESSION, QUIET ENJOYMENT, MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE, and without recourse by way of refund, reduction of the Purchase Price, or otherwise. No purchase will be set aside, nor will Auctioneer be liable, for incorrectness in description, misnomer, errors in cataloging, imperfection, or mislabeling of any item. It is the BUYER?S responsibility to thoroughly inspect all equipment, in person or by third party prior to bidding or placing bids. THERE WILL BE NO ADJUSTMENT TO THE FINAL BID PRICE AFTER THE BIDDING CLOSES. Call to insure specific items are at the auction site before traveling. 8. Catalog: The listing catalog has been prepared only as a guide based on information from sources believed to be reliable, but the accuracy thereof cannot be guaranteed or warranted by Motleys. Hours and miles which are stated in the catalog descriptions as showing are read on the meters and odometers, or as provided by owner, with no guarantee of accuracy. Actual hours and miles are guaranteed to be accurate. All announcements from the auction stand on auction day, to the extent that they are different from prior printed material take precedence. Any information provided by Motleys or its representatives, verbal or otherwise, is not guaranteed, to include, but not limited to country of origin or manufacturer. Purchaser acknowledges that all items were available for inspection prior to the auction and that Purchaser relies on his own inspection of the items and not the information listed in the catalog or otherwise provided by Motleys. 9. Disputes: Should a dispute arise between two or more bidders; the Auctioneer may re-open the bidding between the high bidders until the property is purchased. Should the Auctioneer and a bid assistant (bid spotter) simultaneously recognize conflicting bidders, even if the Auctioneer has announced the item as "SOLD," the Auctioneer may re-open the bidding between the high bidders until the property is purchased. The Auctioneer will determine the purchaser and his decision shall be final and absolute. 10. Risk of Loss: Upon the fall of the hammer, or when the Auctioneer says "SOLD," or when the internet auction closes, risk of loss shall pass to the Purchaser. Motleys accepts no responsibility for any loss or damage to any Purchased item once the hammer falls. It shall be the responsibility of the Purchaser to insure all Purchased items immediately. 11. Sales Tax: Sales or Use Taxes will be added to the Purchase Price of all taxable Purchased items. A current sales tax exemption certificate including sales tax exemption number must be presented to avoid paying sales tax. 12. Payment: All buyers must abide by the "Payment Terms" set forth for this sale. See "Sale Information" for details. Motleys may refuse to allow removal of Purchased items and all property of Purchaser consigned for auction with Motleys until the Purchaser pays all amounts due and owing Motleys. 13. Removal and Storage/Handling Fees: Purchasers must remove all purchased/paid in full items from the auction site within the time allotted for removal. See "Sale Information" for details. Purchaser takes full responsibility for the removal of purchased items and holds harmless and indemnifies the consignor and auctioneer for any damage or injury in the removal or dismantling process. Motleys reserves the right to require proof of insurance coverage on any item, person, or company. If for any reason Purchaser fails to remove any items from the auction site in accordance with this paragraph, including Purchaser's failure to make full and complete payment of all sums due and owing to Motleys, Purchaser agrees to pay Motleys a storage fee of ten dollars ($10.00) per item, per day, and reasonable handling, transportation, maintenance, security, and insurance fees and or costs. 14. Default by Purchaser: In the event Purchaser fails to pay the full Purchase Price of any Purchased items as per these Terms and Conditions, or other amounts due Motleys, Purchaser agrees to pay Motleys a storage fee of ten dollars ($10.00) per day, per item left at the auction site, and all storage, reasonable handling, transportation, maintenance, security, and insurance fees and/or sales costs. Additionally, Purchaser agrees to grant Motleys a lien on all purchased items and all property of Purchaser consigned for auction with Motleys, and the proceeds of the sale of such property, until all the Purchase Price and all other sums due Motleys are paid in full. Motleys? lien shall include the Purchase Price, and all fees listed above in this section. In addition, Motleys, at its sole discretion, shall have the right to resell such items by public or private sale at a commission rate of Twenty-five (25%) Percent. Purchaser grants Motleys the right to withhold from the proceeds of such resale any and all sums due Motleys. Motleys? exercise of its right to resell any items in accordance with this paragraph, shall not prevent Motleys from recovering the Purchase Price or any other amount due Motleys from the Purchaser. 15. Abandoned Property: Motleys may deem abandoned any item left at the auction site after the time provided for removal. In addition, Motleys, at its sole discretion, shall have the right to resell such items by public or private sale at a commission rate of Twenty-five (25%) Percent. Purchaser grants Motleys the right to withhold from the proceeds of such resale any and all sums due Motleys. Any sum remaining after full and complete payment of all amounts due and owing to Motleys shall be provided to the Purchaser. Motleys exercise of its right to sell any items in accordance with this paragraph, shall not prevent Motleys from recovering the Purchase Price or any other amount due Motleys from the Purchaser. Redemption of any abandoned goods will be allowed after complete payment of the Purchase Price and all other amounts due and owing to Motleys. 16. Titles: Title documents will be available to Purchaser upon complete and final payment of all sums due Motleys within ten (10) business days of such payment and availability of title unless sold title delay. Items sold title delay shall remain at the auction site until title documents are available unless Purchaser signs a waiver. Purchaser shall not alter any purchased item prior to receipt of title. If merchantable title or documents necessary to secure merchantable title are unavailable, Purchaser shall return the item to the auction site in the identical condition as at the time of purchase upon which Motleys shall refund the Purchase Price. Motleys shall not be liable for any other amount, any improvements, or repairs, or for any consequential or incidental damages incurred by the Purchaser. 17. Loading/Unloading of Equipment: All items are sold "AS IS, WHERE IS". Motleys does not provide operators for the loading or unloading of any vehicles or equipment under any circumstances. This is the sole responsibility of the Purchaser including INOPERABLE ASSETS. 18. Withdrawn Property. Motleys reserves the right to withdraw any individual items or to cancel the sale of any items or offer any items in lots of groups. Motleys reserves the right to cancel the entire auction without notice or liability to Motleys. 19. Unauthorized Conduct: Motleys reserves the right to refuse any bidder registration privileges at any auction and to refuse access to and removing any person from the auction site for any reason including, but not limited to: 1) tampering with equipment, 2) collusive bidding, 3) stealing, 4) failure to abide by these Terms and Conditions, 5) intoxication, (6) inappropriate behavior. By registering for the auction and entering PRIVATE PROPERTY, any person is subject to search if sufficient evidence is present of theft or tampering and sabotaging assets. All Bidders acknowledge Motleys right to refuse access and to remove Bidders for such conduct and agree to leave the auction site upon request by Motleys. 20. Enter at your Own Risk: Bidders acknowledge that an auction site is potentially dangerous, and Bidders shall so advise their agents and employees. Bidders enter the auction site at their own risk/and expressly agree to indemnify and hold Motleys harmless for any personal injury or property damage which may occur while at the auction site. NO CHILDREN under the age of 16 shall be permitted at the auction site. NO EXCEPTIONS! (No se permiten menores de 16 a?os en el area de la venta). 21. Buy Backs: The owner of any item being sold may not bid on that item. 22. Notice. Except for announcements made pursuant to paragraph 3 of these Terms and Conditions, these Terms and Conditions may not be amended in any way, except by a signed, written agreement between Motleys and the Purchaser. 23. Arbitration: Bidders agree that any controversy or claim arising out of or relating to these Terms and Conditions shall be settled by arbitration in Richmond, Virginia, administered by the American Arbitration Association in accordance with its Commercial Arbitration Rules, and judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction thereof. Bidders agree that Motleys shall be entitled to its reasonable attorneys fees (25% of any amount awarded to Motleys) incurred in any arbitration or action to enforce or otherwise related to these Terms and Conditions. 24. SHERMAN ANTITRUST ACT: Title 15, Section 1 of the United States Code specifically prohibits any agreements that restrain trade and commerce and declares them to be illegal and a federal felony. The law provides: Every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations, is declared to be illegal. Every person who shall make any contract or engage in any combination or conspiracy hereby declared to be illegal shall be deemed guilty of a felony, and, on conviction thereof, shall be punished by fine not exceeding $10,000,000 if a corporation, or, if any other person, $350,000, or by imprisonment not exceeding three years, or by both said punishments, in the discretion of the court. Any agreement among potential bidders at this auction not to bid against one another, or otherwise to dampen the bidding process, is illegal and will be immediately reported by Motleys to the United States Attorney and the Department of Justice for investigation and prosecution. 25. Claims: No claims will be allowed after removal of goods from premises or left on premises past removal deadline. 26. Responsibility for Non-Delivery: Neither the auctioneer nor the seller, in any event, shall be liable for non-delivery or for any other matter or thing, to any purchaser of any lot, other than for the return to the purchaser of the deposit or sum paid on said lot, should the purchaser be entitled thereto. 27. Acceptance: Bidding on any items or otherwise attending the auction indicates acceptance of these Terms and Conditions. 28. Fees: Subject to change without prior notice. 29. Auctioneer's Note: As always Motleys strives to make your auction experience as pleasant as possible and will assist our customers to our fullest extent. The above referenced dates and processes will be strictly enforced.