Terms of Sale: 1. Full payment of purchase must be received on day of purchase, except as allowed in item #12. Terms are cash or certified check Personal checks or sight drafts will not be accepted unless accompanied by an irrevocable letter of guaranteed credit from the bank stating buying limit and authorized by an officer of the bank. Letter of Credit is retained by International Classic Auctions at time of issuing bid pass. American Express, Visa or MasterCard may also be used. A 2.5% service charge will be added to all credit card purchases. 2. 2. All bidders may be required to provide International Classic Auctions with proof of means to pay for any purchases. International Classic Auctions retains the right to require a cash deposit before issuing a bid pass. 3. All vehicles and/or other items are purchased “AS IS” and are sold “WITHOUT WARRANTY OR GUARANTEE, EXPRESS ORIMPLIED.” The purchaser warrants that no representations, oral or written, have been made by International Classic Auctions or any of its employees or agents regarding any vehicle or item sold at the auction by or through International Classic Auctions. 4. All statements by the Auctioneers and those statements printed in advertisements are believed to be correct, however, bidders are to examine all cars and other items before bidding and do so upon his or her opinion and examination. 5. International Classic Auction is not responsible for correctness of year, genuineness or any other description or condition of the vehicles. 6. All cars are offered for sale subject to a reserve price set by the seller unless otherwise stated. 7. Ownership of an item passes to bidder when Auctioneer says “sold”. At that time the new owner assumes full responsibility of the item. 8. Should any dispute in a bid arise the auctioneer will use his judgement and his decision is final. 9. All vehicles must be removed from the premises by the purchaser at his own expense no later than 2:00 p.m. the FIRST Banking Day following the sale. If it is not removed, the International Classic Auctions may remove and store the vehicle at the owner’s risk and expense. 10. All state and local taxes apply. Tax does not apply when shown proof of an Automobile Dealer’s number and resale tax number. (Be prepared with your tax number.) Out of state purchases must acquire necessary transportation permits. (bill of lading) 11. A purchaser’s failure to comply with terms of sale shall entitle International Classic Auctions and consignor to use, at their discretion, any and all remedies available at law or in equity including without limitation to hold the purchaser liable. This may include the following: a. Cancel the sale and retain as liquidated damages all payments made by the purchasers. b. Re-sell the vehicle or item at a private or public sale for the highest offered price. Purchaser herein agrees to be liable for the difference between the bid price offered by Purchaser under this Bidding Contract and the amount received at the private or public sale. In addition, the Purchaser shall be liable for any expenses of sale, attorney fees and court costs. 12. Delayed Payment Agreement: a. I agree to pay in full, plus buyer’s fee and all applicable state and local sales tax with cash or certified check, the amount owed on any vehicle for which I sign a Bill of Sale contract. b. I understand that the entire amount of any purchase must be paid by 12:00 P.M. on the First banking Day following the auction. Including buyer’s fee and all applicable state and local sales tax. 13. I agree to pay a storage fee of $30.00 per day to the Auction for storage beyond the first banking day following the sale. 14. International Classic Auctions provides title only. Licensing (including any omissions requirements, vehicle inspections plate and tags) are the responsibility of the new buyer. 15. NOTE: Buyers fee of 6% of the sale price ($150.00 minimum) will be charged on each item sold. 16. Titles for items purchased are mailed by certified mail to the purchaser on the twentieth (20th) banking day following the sale. On cash transactions only titles are released to purchaser at the time of the sale. Due to liens and titles held in safety deposit boxes, any title may be delayed up to thirty (30) days before it is released to Buyer regardless of method of payment. 17. As collector of vehicles these automobiles may not be fit for ordinary driving and reasonably safe and free of defects. This includes but is not limited to tires, brakes, steering, motor mounts, front and/or rear drive units. I agree to Inspect each vehicle myself and I agree to rely upon such personal inspection in lieu of any other description or representation which may have been made to me which, in any manner, concerns the vehicle. 18. Statements about the vehicles on the description sheets are provided by the consignor not International Classic Auctions. The Purchaser agrees to base his purchase on his independent investigation and agrees not to rely upon the consignor’s description sheet. Purchaser acknowledges his responsibility to pay for any purchase made through International Classic Auctions irrespective of the information on such description sheets. International Classic Auctions expressly disavows the information on such description sheets. 19. I agree to abide by International Classic Auctions policies as listed on each vehicle description. 20. The parties agree that in any auction to which International Classic Auction is a party, the laws of the State of Arizona shall be used to interpret and enforce this contract. The parties agree that in any action to which International Classic Auction is a party, the proper venue and jurisdiction for any dispute herein shall be either in the Superior Court of Maricopa County Arizona, or the District Court located in Phoenix, Arizona. Purchaser agrees to address which it has listed below is the proper address to be used for any services of process. 21. This Contract may not be assigned by the Purchaser without the written consent of International Classic Auction. It is binding upon the Purchaser, his heirs, representatives, assigns, or successor of whatsoever nature. Time is of the essence herein. 22. The effective date of this agreement is _______________.