TERMS AND CONDITIONS Platinum Auction Group, LLC Set forth below are the terms and conditions (the “Terms”) that shall apply to any purchase by any party (a “Buyer”) either directly from Platinum Auction Group, LLC, a Texas limited liability company (“Platinum”) or in a transaction (a “Transaction”) in which Platinum serves as broker, agent, liquidator or auctioneer for any third-party owner (“Consignor”). The Terms apply to all Transactions, including without limitation, public or private auctions conducted by Platinum and direct purchases by Buyer of any item either before, after or independent of any public or private auction. By using or accessing any and all Platinum’s Services and or websites you agree you have read and understand the Terms and Conditions stated herein and are bound to these Terms and Conditions. You may not use or access any and all Platinum’s Services if you do not agree to the Terms and Conditions stated herein. If you do not understand any or all the Terms and Conditions herein please contact Platinum. Additionally, please consult an attorney if you have any concerns regarding any provisions herein. NO WARRANTIES All machinery, equipment, personal property and other items (the “Goods”) are sold on an “AS IS/WHERE IS” basis without licenses or other rights to software required for equipment to work, without any warranties or representations, either expressed or implied. Neither Platinum nor the Consignor makes any warranties or representations of any kind or nature with respect to the Goods or its value and in no event shall either be responsible for correctness of description, genuineness, attribution, provenance, authenticity, authorship, completeness, condition of the Goods or estimate of its value. No statement (oral or written) in the online sales catalog, at the auction, or elsewhere shall be deemed such a warranty or representation, or any assumption of responsibility. Prospective bidders are urged to contact Platinum directly for detailed information regarding any item for sales. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, THE WARRANTIES OF FITNESS FOR A PARTICULAR PURPOSE AND MERCHANTABILITY are expressly disclaimed. INSPECTION OF GOODS Buyers have the right to and are encouraged to personally inspect any of the Goods thoroughly PRIOR TO BIDDING OR BUYING. Platinum will make the Goods available for inspection at a place and times to be determined by Platinum and announced on Platinum’s website. Platinum will provide any information given to Platinum by a Consignor, but does not guarantee or represent the validity of any information given. ACCOUNT SETTLEMENT All purchases must be settled on Sale Day and prior to removing items. Auctioneer is granted authority to charge the credit card on file for the balance due immediately following the auction. If desire is to pay by Cash or Check please notify Auctioneer prior to auction ending. Auctioneer at its discretion may require Company and Personal Checks to have a Bank Letter of Credit if amount owed is greater than $1,500. All checks should be made payable to Platinum Auction Group. BUYER’S PREMIUM Platinum shall charge a ten percent (10%) Buyer’s Premium for On-Site Bidders and for Online Bidders charge a twelve percent (12%). Buyer Premium applies to all purchases, unless otherwise noted in the sale description or announced by Platinum prior to or during the sale. This amount will be added to the hammer price. TAXES Buyer must also pay Platinum on or before the Final Payment Date, all sales, export, use and other taxes due to any federal, state or local taxing authority (the “Taxes”) as a result of Buyer’s purchase, including without limitation, any taxes arising from any Buyer’s Premium. To receive the benefit of any tax exemption, Buyer must supply Platinum with a sales tax exemption certificate acceptable in form, scope and substance to Platinum in Platinum’s sole discretion. In the event of a conflict, Buyer will be responsible to pay the sales tax to Platinum and seek reimbursement directly from the appropriate state taxing authority. SALES TAX 8.25% sales tax applied to invoice total, including buyer’s premium. All Sales will be subject to State and Local Sales Tax Laws. A person claiming an exemption from sales tax for farm use on certain items is required to have a Texas Agriculture Exemption registration number. These items DO NOT qualify for sales and use tax exemption for agricultural production. • • • • • • Automotive parts, such as tires, for vehicles licensed for highway • Materials used to construct roads or buildings used for shelter, use, even if the vehicle has farm plates housing, storage or work space (examples include general storage barns, sheds or shelters) Clothing, including work clothing, safety apparel and shoes • Motor vehicles and trailers* Computers and computer software used for any purposes other than agricultural production • Pet food Furniture, home furnishings and housewares • Taxable services such as nonresidential real property repairs or Golf carts, dirt bikes, dune buggies and go-carts remodeling, security services, and waste removal Guns, ammunition, traps and similar items * See www.comptroller.texas.gov/taxes/ag-timber/. CATALOG AND ONLINE INFORMATION AND ANNOUNCEMENTS EVERY REASONABLE EFFORT HAS BEEN MADE TO ENSURE THE ACCURACY OF THE INFORMATION PRINTED IN THE ONLINE SALE CATALOG AND IN THE ONLINE AUCTION. PLATINUM DISCLAIMS RESPONSIBILITY FOR THE CONSEQUENCES, IF ANY, OF ANY CATALOG OR ONLINE ERRORS. HOWEVER, NOTIFICATION OF ANY ERRORS WOULD BE APPRECIATED. Platinum, Platinum Parties or any representative thereof, does not assume any responsibility or liability for errors or omissions, or for any verbal or written statement regarding the Goods sold. All Buyers shall rely on their own investigation and inspection of the Goods. USE CAUTION WHILE ON THE PREMISES Buyers acknowledge that an auction site is a potentially dangerous place, flammable, noxious, corrosive or pressurized substances may be present. Heavy equipment may be operated, and electrical circuits may be live. Every person enters the auction site at his or her own risk with notice of the condition of the premises and the activities that will be or have been conducted on the premises. No person shall have any claim against Platinum, the Platinum Parties, or the Consignor for any injuries sustained or for damages to or loss of property that may occur at the auction site. BY ATTENDANCE; INDEMNITY All agree to save, HOLD HARMLESS and INDEMNIFY Platinum, Cody Shelley, an individual, and their respective agents, employees, members, managers, partners, directors, officers and/or any person or entity acting on their behalf (together, the “Platinum Parties”), from and against any and all liability, debt, claims, suits, losses, damages, causes of action, judgments, costs and expenses, including attorney fees, arising or allegedly arising from (i) personal injury or death of any person (including but not limited to employees of Consignor or Buyer), and (ii) property damage, including loss of use thereof, economic loss or otherwise, arising or growing directly or indirectly out of Consignor’s or Buyer’s use of any of the facilities in connection with the sale, the conducting of the sale or anything occurring in connection with the sale. The foregoing indemnity obligations shall apply whether or not the claim or liability in question results or is alleged to result in whole or in part from the sole, concurrent or comparative negligence or strict liability of the Platinum Parties, or any defect in the premises, the Goods, or any other machinery or equipment operated or controlled by the Platinum Parties. Accordingly, it is understood and agreed that in no case shall the Platinum Parties be responsible for any loss, death, damage or injury of any character to any person, animal, article, or any personal property arising from or occurring prior to, during the sale or after the sale. GOVERNING LAW Neither Platinum nor the Platinum Parties are responsible for any liability whatsoever, including, but not limited to, the loss, damage, injury, death or illness of any person, or property, including, without limitation, the Goods, before, during or after the sale. All Goods consigned to the sale are offered in accordance with the laws of the State of Texas and all transactions between Buyer, Consignor and Platinum are governed by the laws of the State of Texas. The Good are offered in the sale are sold “AS IS, WHERE IS, WITH ALL FAULTS AND DEFECTS, WITHOUT EXPRESS OR IMPLIED WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE OR MERCHANTABILITY”. In the event of any legal dispute between the Buyer and the Owner/Seller, Platinum will occupy the position of agent for a disclosed principal and stakeholder and will be discharged from all obligations owing to the Owner/Seller or Buyer upon delivery of any property or funds held by Platinum to the court having jurisdiction of such dispute. RIGHTS Platinum, in its sole discretion, reserves the right to establish a reserve or minimum price on any Goods without having to announce, post or publish notice to attendees and Buyers at any auction. Platinum reserves the right to confirm or reject the final bid. Further, Platinum, Platinum Parties and/or its affiliates or subsidiaries, may bid at the auction for its own account, on behalf of a third party or the Consignor. REMOVAL OF GOODS Buyers or their agents must remove all Goods purchased before the Wednesday following the sale by 5 pm CST UNLESS otherwise made arrangements with Platinum. No Goods shall be removed until the full purchase price and all applicable taxes thereon have been received by Platinum in the form required herein. Buyer shall be responsible for the safe and proper removal of any Goods purchased by Buyer, including any tear down of the Goods in order to move the same. Platinum does not pack, ship, store, crate or rig items for removal. Buyers may either pick up Goods at the designated auction site themselves or can contract with a third-party agent to manage the removal process for them (“Agent”). Before Goods can be removed by an Agent, Agent must provide Platinum with (a) proof of payment in full (Paid in Full Invoice); and either: (i) an “Agent Release Authorization” form which allows Platinum to release items to a third-party contractor for shipping, crating or packing purposes, or (ii) a copy of the photo identification matching the Buyer’s name. Without limiting the generality of the foregoing, Buyer shall restore and repair all real and personal property that is altered or damaged as a result of Buyer’s removal of the Goods. Platinum shall have no responsibility to disconnect utilities to the Goods, including electric, gas, waste and water lines. Buyer is solely responsible to properly remove and store in appropriate containers all fluids, oils, hazardous chemicals, etc., from the Goods purchased. Buyer does hereby indemnify Platinum, the Consignor and the owner of the premises in which the Goods are located, from any and all claims, damages, and losses arising from Buyer’s actions or actions with respect to the Goods and Buyer’s presence on the premises in which the Goods are located, including without limitation, injuries to persons or property and environmental violations or contamination. Risk of loss on any Goods shall pass to the Buyer upon the drop of the hammer at the auction. Platinum shall have no responsibility whatsoever for any missing or lost items or for damage to the Goods due to acts of God. There will be NO removal of any Goods until the auction is complete. 13. SHIPPING NO SHIPPING PROVIDED – BUYER MUST MAKE THEIR OWN ARRANGEMENTS IF THEY DESIRE SHIPPING. PLATINUM WILL NOT PACKAGE OR HANDLE ANY ITEMS. BIDDING PROCEDURE Buyers must register prior to bidding at any auction sale and must be of legal capacity to enter into this agreement. All bidders must provide their name, company (if applicable), mailing address, phone number, credit card information and email address prior to the auction. By registering, you represent and warrant any and all buyer information is accurate and complete. It is solely the Buyers responsibility to maintain current buyer information for completeness and accuracy. Platinum reserves the right to deny and or terminate registrations at any time at its sole discretion without notification. Platinum reserves the right to deny usage and access of Platinum services and websites at any time without notice or liability to any persons or third parties. The highest bidder shall become the Buyer. Platinum reserves the right to reject any and all bids. ONLINEBIDDING Platinum is providing online bidding as a service to both Bidder & Seller. If service is interrupted or a communication error occurs, under no circumstances shall Bidder or Seller have any kind of claim against Platinum. to a $25 per day/per item storage fee. The auction company reserves the right to sell item at auction for storage cost. Please contact office if you need to make special arrangements for pick up after date. Items not removed by storage date are subject BIDDINGDISPUTES If a dispute should arise between or among two or more bidders, Platinum shall settle the dispute, and Platinum’s decision shall be absolute, final, and binding on all parties. In such a case, Platinum has the right to reopen the bidding procedure and ask for advanced bids, solely between the bidders having claimed the last bid. If there is no advance bid, the Goods shall be sold to the bidder from whom Platinum recognized the final bid. If for any reason the bid should be reduced below the recognized bid at the beginning of such a dispute, Platinum may reopen the bidding to all bidders with the highest bidder becoming the Buyer regardless of whether or not the final bid exceeds the bid which was originally disputed. PLATINUM RESERVES THE RIGHT TO BID ON ANY GOODS TO PROTECT THE CONSIGNORS/SELLERS RESERVE. TITLEANDDELIVERY Title passes to the Buyer automatically at the “fall of the gavel” which is the point in time where bidding has closed online on the particular lot. At such time, Buyer assumes all risk of loss and the responsibility, maintenance, and care for the Goods sold passes immediately from the Consignor to the Buyer. Upon the passage of title, the Buyer agrees to indemnify and hold the Platinum Parties harmless from all loss, cost and expense including but not limited to: (a) loss or damage to the Goods, and (b) injury or death of persons caused by the Buyer, his agents, or employees. If a Certificate of Title is available for the Goods, such Certificate of Title will be given to the Buyer upon full payment. SETTLEMENT Settlement for any purchase must be made in full and paid directly to the sale cashier within the specified time announced prior to the commencement of the auction. Payment to any other source is prohibited and is not recognized as settlement. Settlement for any purchase must be made for the full purchase price with U.S. Currency or with funds from a U.S. Bank in the form of a bank check, credit card, cash, certified check or travelers check, all of which must have been approved by Platinum. Any person signing a check in the State of Texas is liable for the full amount of the check. Any party issuing a check returned as “insufficient funds” or “payment stopped” or “account closed” or issuing a check that shall for any reason not clear drawee’s bank, is subject to being prosecuted to the full extent of the law and is further subject to all legal and equitable remedies, including interest, court costs and attorney fees. Appropriate legal services will be obtained in whatever jurisdiction necessary to secure performance of any payment given as settlement and all costs, including attorney’s fees, incurred by Platinum shall be the responsibility of the party issuing such payment. DEFAULT After successfully winning a bid, all Buyers shall be responsible for the full purchase price, as stated, for the Goods. Buyers who fail in any respect whatsoever to make settlement as described in Paragraph 14 above, shall be declared in default. The Consignor, Platinum and/or the Platinum Parties may bring suit against the party that is in default who shall be responsible for all costs, including attorney’s fees, incurred by Consignor, Platinum and/or Platinum Parties in collection of amounts owing, or in enforcement or interpretation of the any provision here or otherwise stated online or in person by Platinum or the Platinum Parties. Upon default by the Buyer, the Buyer shall lose all right, title and interest which he/she might otherwise have acquired in the Goods. Platinum will then have the right to market and re-sell the Goods. WARRANTIES THERE IS NO WARRANTY, EXPRESS OR IMPLIED BY PLATINUM, PLATINUM PARTIES, CONSIGNOR/SELLER OR ANY REPRESENTATIVE THEREOF, AS TO THE MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY GOODS OFFERED IN THIS SALE. All Goods are sold “AS IS, WHERE IS, WITH ALL FAULTS AND DEFECTS, WITHOUT EXPRESS OR IMPLIED WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE OR MERCHANTABILITY”. Any and all guarantees announced on the Consignor/Seller’s behalf in the description on the website are made solely between the Consignor/Seller and the Buyer. AUCTIONEER DISCLAIMER Platinum, Platinum Parties or any representative thereof, does not act as agent for or represent the Buyer or Consignor, but only provides a medium for bringing together the Buyer and Consignor for the purpose of a sales transaction. There is no implied or express warranty made by Platinum, Platinum Parties or any representative thereof as to the merchantability or fitness for any particular purposes of any of the Goods. DISPUTES If a dispute should arise between Consignor and Platinum or Platinum Parties or Buyer and Platinum or Platinum Parties, all claims, disputes, controversies, differences or other matters in question arising out of Platinum’s or Platinum Parties’ relationship to any party in the matters stated in these Terms and Conditions (the claims) and all other matters in which Platinum and Platinum Parties have provided any type of services at any time, whether or not those matters are encompassed within this document (including, but not limited to compensation for fees, expenses and/or commissions) shall be settled finally, completely and conclusively by binding arbitration in Stephenville, Erath County, Texas, in accordance with the Commercial Arbitration Rules of the American Arbitration Association (the “Rules”), by one or more arbitrators chosen in accordance with the Rules. Arbitration shall be initiated by written demand of the party seeking arbitration. A decision of the arbitrator or arbitrators shall be final, conclusive and binding on the parties and judgment may be entered thereon in the District Court of Erath County, Texas, to enforce such decision and the benefits thereof. Any arbitration held in accordance with this paragraph shall be private and confidential and no person shall be entitled to attend the hearings except the arbitrator(s), the stenographer, (if one is requested), the parties and the attorneys for the parties and/ or representatives designated by the parties. The matters submitted for arbitration, the hearings and proceedings there under and the arbitration award shall be kept and maintained in strictest confidence by the parties and shall not be discussed, disclosed or communicated to any person. On request of any party, the record of the proceeding shall be sealed and may not be disclosed except insofar, and only insofar, as may be necessary to enforce the award of the arbitrators and any judgment enforcing such award. The prevailing party shall be entitled to recover reasonable and necessary attorneys’ fees and the costs of arbitration from the non-prevailing party. All Consignors/Sellers, Buyers, bidders and attendees voluntarily and intentionally waive any right that they may have to a trial by jury in respect to any litigation arising from or connected with this auction. CHANGES Platinum reserves the right to withdraw or sell any assets contained in an auction prior to or proceeding the stated auction period without notification. Platinum reserves the right to temporarily or permanently end an auction prior to or during the stated auction period at is sole discretion without notification. Platinum, in its sole discretion, reserves the right to extend the stated auction period without notification. If for any reason Platinum is unable to deliver any Goods purchased by Buyer, Platinum’s sole liability shall be to return all sums paid by Buyer to Platinum in respect of such Goods. NO COLLUSION Buyers agree they will not participate in any bidding practices with the intent of manipulating the bidding. Any and all forms of collusion between Buyers is forbidden. Buyers agree they will not place bids using false names or Buyer Information. RIGHT TO REFUSE BIDS OR DENY ACCESS Platinum, in its sole discretion, reserves the right to refuse the bid of any person without providing any notice or reason therefore. Platinum reserves the right to deny the usage and access by any person or third party of any and all Platinum services and websites without notification. RIGHT TO AMEND TERMS AND CONDITIONS Platinum reserves the right to amend any and all of the Terms and Conditions stated herein at any time without notification at Platinum’s sole discretion. It is the Buyers responsibility to read and review the Terms and Conditions for each sale. Platinum provides the Terms and Conditions through its websites and in printed form at on-site auctions.