NOTICE: All Bidders and other persons attending this sale agree that they have read and have full knowledge of these terms and agree to be bound thereby. Please be aware that an auction sale of personal or real property is much different than your purchase of property at a retail store or from another type of merchant. There are absolutely no guarantees of the quality or condition of the items for sale or that the item will be suitable for your particular purposes. Do not rely on the statements of any employee of Roller & Associates as to the quality or condition of an item or that it may be suitable for your purposes. RELY ONLY UPON YOUR INSPECTION OF THE ITEM, AS SUCH INSPECTION WILL BE THE ONLY ASSURANCE YOU WILL HAVE AS TO THE CONDITION OR QUALITY OF THE PROPERTY OR THE NUMBER OF ITEMS IN THE AUCTION LOT YOU MAY PURCHASE. NO REFUND FOR ANY REASON WILL BE MADE. The following terms and conditions apply to auctions conducted by Roller & Associates, Inc. 1. Bidding Process: Only registered bidders with assigned numbers will be allowed to participate in the auction. The auctioneer has the complete discretion to set the minimum bid and to regulate the advance of those bids. Accordingly, he may reject any bid that, in the auctioneer’s sole discretion, is not reasonably larger than the previous bid. Auctioneer may also reject the bid of any person, for any reason. The auctioneer has the right to refuse all bids made on an item, regardless of whether they are in excess of the minimum. In some events, the owner of an item consigned for sale to the auctioneer may have established a minimum acceptable sale amount. The auctioneer has no duty to inform any bidder as to that minimum price and auctioneer may bid for such owner without any disclosure whatsoever being required. In the event any confusion in the bidding process arises, the auctioneer in his sole discretion may establish a procedure to resolve that confusion. Each bid carries with it an obligation to pay any applicable sales, use, excise or transfer tax in addition to the bid amount. An item is deemed sold to a bidder only when announced as sold by the auctioneer. The auctioneer may by oral announcement alter any bid lot prior to the start of bidding. No adjustments to a winning bid will be made because of later discovered defects, latent or otherwise, in the item purchased. Auctioneer may cancel the auction at any time, for any reason, with no liability to the bidder. 2. Payment: All purchases must be paid for in full by the successful bidder on the day of auction with NO EXCEPTION without prior approval from auctioneer. Payment shall be in the form of cash, certified or cashiers check, or bank wire transfer. The auctioneer may accept a personal or company check with acceptable identification, but is under no obligation to accept that form of payment. In the event that a check is not honored by the drawer’s bank or other financial institution, either because of insufficient funds or stop payment, the maker of that check shall be responsible to Auctioneer for all costs of collection including reasonable attorney fees. If an item is not fully paid on the day of auction, or at a later time as specifically agreed, the auctioneer shall have the right to resell the item, at auction or otherwise, and if such subsequent sale amount, less auctioneer’s costs of resale, is less than the amount due to auctioneer, the auctioneer shall have the right to recover any deficiency from the defaulting bidder. If such subsequent sale amount, less costs of resale, is greater than the amount owed on the original bid, the defaulting bidder has no claim to the excess. 3. Security Interest: Auctioneer maintains a purchase money security interest in any item from the time of successful bid until full payment has been made and any financial instrument given in payment has been successfully negotiated through banking channels. Accordingly, in addition to any other remedy, Auctioneer may recover the item from the bidder, in any lawful manner, if payment is not made or any check is dishonored. 4. Risk of loss: The risk of theft, damage or other loss to the property is the buyer’s responsibility immediately upon becoming the successful bidder. It is the bidder’s sole obligation to protect the property after that time. In the event the property is left at the auction site after the conclusion of the auction, auctioneer has absolutely no obligation to secure the property and only has the obligation to grant access to the auction site for bidder’s removal of the item. 5. Risk of Injury: Bidder acknowledges that an auction site is a potentially dangerous place and shall be deemed to be there at his own risk. No person shall have any claim against the auctioneers, their agents, employees or principals for any injuries sustained or for damages to or loss of property which may occur from any cause whatsoever. 6. Removal: No item may be removed from the auction site until the full bid price and taxes are paid. All items must be removed by the end of the auction or as announced by auctioneer. 7. Description of Property: The auctioneer, in a catalog, brochure, advertisement, or oral statement, uses his best effort to describe an item and any quantities of that item contained in a particular bid lot. Such description is made only to assist in the orderly conduct of the auction process and does not create any warranty that the item is as described or that a particular lot contains the number of items stated. 8. No Warranty: Auctioneer makes NO WARRANTY, IMPLIED OR OTHERWISE as to the condition, description or use of any property sold at auction. All property is sold AS IS, WHERE IS, WITH ALL FAULTS. 9. Auction Announcements: Oral announcements made by the Auctioneer on the day of auction which differ from statements made in any brochure, catalog or other advertisements prepared for the auction. take precedence. 10. Title documents: In the event that the transfer of ownership of an item of property requires the delivery of proper title documents to the successful bidder and the auctioneer is unable to deliver such documents, through no fault of its own, within ten days after sale, the bidder’ sole remedy is to return the item to auctioneer in the same condition as received and to be refunded the purchase price, if paid. 11. Litigation: All legal claims by either the auctioneer or any bidder arising from the auction shall be brought in the Adams County Court or the 17th Judicial District Court located in Brighton, Colorado. The prevailing party in such litigation shall be entitled to an award of reasonable attorney fees and costs.