TERMS & CONDITIONS Auction #08116 PRE-AUCTION BIDS All pre-bids will be delivered to the seller. Abal Auction Real Estate encourages pre-auction bids if they are exceptional. We are sole representatives of the seller only, and obligated to present all bids to our seller client. If a pre-auction offer is presented, it must be delivered in writing 24 hours prior to the close of the auction on March 25, 2008. The terms of all pre-auction bids will become public information and be immediately disclosed to all interested parties. All pre-bids will be subjected to all terms and conditions of the auction. The terms and conditions of the auction include the Buyer's Premium which will be added to the pre-bid to arrive at the total contract price. Although an auction event is always the intent of the Abal Auction Real Estate auction listing, the ultimate goal is to sell the business for a satisfactory price for the seller. If a business sells prior to the auction, the auctioneers will provide appropriate notice to those individuals who expressed an interest in the business. Buyers are encouraged to complete their research on the business prior to submitting their pre-auction bid. Remember, it is in the best interest of the buyer to offer the most exceptional bid possible if he expects to get the seller's attention to accept the bid. METHOD OF SALE This business only auction will be offered by Internet competitive bidding. The business is selling with seller confirmation to the highest bidder. Business sells as-is, where-is. Information contained herein derived from sources deemed reliable but not warranted or guaranteed. POSSESSION Possession of the business will be granted to the buyer upon settlement and payment in full within 30 days of auction. SPECIAL CONDITIONS OF SALE A. Property sells with seller confirmation. B. Business will be transferred by bill of sale. ASSESSMENT OF CONDITION All bidders, including buyer, should rely solely on personal inspection and not information listed in this informational document, on the website, or otherwise provided by Abal Auction Real Estate or seller. Any bidder's failure to inspect, or otherwise be fully informed as to the nature, quality, condition, quantity, and size of any items will not constitute grounds for any claim, adjustment, refund, termination of the Auction Contract, or refusal to close the sale. REPRESENTATION Buyer and Seller acknowledge and agree that the only auctioneer/broker involved in this transaction is the Abal Auction Real Estate and has acted as agent for the Seller only in this transaction. Abal Auction Real Estate has not acted as agent in this transaction for the Buyer. TERMS AND CONDITIONS All bidders and others participating in the auction agree that they have read and fully understand the terms and conditions and agree to be bound thereby. Registered bidders must acknowledge that they have the means in the form of cash, cashier’s check, personal or company check with a bank letter of guarantee to make the $7,500 nonrefundable deposit. Successful buyer must make a $7,500 nonrefundable deposit immediately after buyer is declared the winner, in the form of cash, cashier’s check, personal or company check with a bank letter of guarantee. Successful buyer must sign a Contract for Sale & Purchase with the balance of contract price due at settlement within 30 days of auction. The personal property sells ‘As is, Where is’ no warranties expressed or implied. No financing contingencies. Bidders must have their financing in order and completed prior to bidding. Please call the auction company if you need referrals for financing or other professional services. The auctioneers represent the seller only, but do maintain referral listings of financial service providers. Get qualified to bid. If you need a list of lenders, call the Auctioneer now (850) 510-2501. No conditions may be added to the Contract for Sale & Purchase by the successful buyer either during the auction or otherwise. In bidding, you are asserting you have the funding to close. AUCTION RECOMMENDATIONS Thoroughly read the business document and familiarize yourself with the auction terms and conditions. If you will require financing, please see a lender for pre-qualification. Get qualified first. Call the Auctioneer for a lender list. BID RETRACTION By placing a bid, buyer and all other bidders acknowledge all terms of the auction and agree not to retract the purchase offer. If a bidder cannot satisfy the terms of the auction, the bidder should not bid. BID REJECTION Abal Auction Real Estate reserves the right to reject any and all bids from any bidder. AGENCY DISCLOSURE In all transactions, the auctioneers are acting as agents for the seller, not as buyer's agents. DISCLAIMER Abal Auction Real Estate, and the Seller have gathered this information and believe it to be correct to the best of our knowledge. All documents and information are being furnished to the bidder for the bidder’s convenience and it is the responsibility of the bidder to determine that information contained herein is accurate and complete. Any reliance on the contents shall be solely at the bidder’s risk. These documents are being provided without any warranty or representation, expressed or implied, as to its content, its suitability for any purpose or its accuracy, truthfulness or completeness. The buyer must conduct and rely solely upon its own investigation and inspection. Further, all parties acknowledge and agree that the business is being sold “AS IS”, "WHERE IS", with any and all faults. The Seller shall have no obligation for repairs or replacements noted in any inspection(s) made by or for Buyer. Such repairs or replacements shall be the sole responsibility of the Buyer. Please review all information supplied and seek appropriate assistance prior to bidding.