For Complete Information and Latest Updates go to: www.jonesswenson.com ONLINE AUCTION ¨C EMBROIDERY BUSINESS - ARLINGTON, TX TERMS AND CONDITIONS READ CAREFULLY AND COMPLETELY 1. Online bidding begins at 10:00 AM CT on May 11th and lots begin closing in numerical order at 12:00 Noon CT on May 18th, 2010. This is a Public Auction. Bidders must provide a valid Driver License number to register online to bid. Inspection time: May 11th 10:00am until 2:00 pm. 2. Payment will be processed on the day after the auction ends (May 19th). All buyers will be contacted by phone to determine form of payment. An email confirmation & paid invoice will be emailed to buyer confirming process of payment. Payment can be made by VISA, MC, Discover, wire transfer or by cash or cashier¡¯s check. NOTE: For invoices over $5,000.00, 10% of the invoice will be required to be paid by credit card immediately after the auction. The balance of the payment must be made by wire transfer, cashier¡¯s check or cash. Paid invoice will be required to remove purchases. If buyer cannot be reached by phone, charges will be paid with the credit card that is submitted at registration. Buyers should be available by cell phone (or other phone number provided to the auction company at registration). Payment must be received by 4:00 PM CT May 19th, 2010. No items may be removed until payment is made in full. 3. A 15% Buyers¡¯ Premium will be added to each item purchased via online bidding through Proxibid. 4. Sales tax will be charged unless the buyer has a dealer¡¯s resale number that is directly related to the industry that is being sold or if the equipment is being shipped out of state via commercial shipper. Prospective buyers should present their resale information at the time of online registration. 5. All items in the auction are being sold, ¡°as is, where is¡± without warranties or guarantees of any type and with all faults. AUCTIONEER AND SELLER EXPRESSLY DISCLAIM AND EXCLUDE THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. Bidders should rely solely on their own inspection of all items prior to the sale and should satisfy themselves as to the usefulness and value of each item. Any statement in the description regarding the items to be sold should be considered a guide and guide only. Any error in description does not relieve the buyer or his agent of their responsibilities. 6. Removal: All purchases must be removed on May 20th from 9:00 AM until 4:00 PM or by appointment. Deadline for removal is 4:00 PM May 25th. Any concerns regarding removal should be addressed to Auctioneer 48 hours prior to the end of the auction. ¡ñ¡ñBuyers assume all responsibility for packing, removal, transportation and handling of purchases. Auction company does not provide these services. Bidders will be responsible for providing their own loading equipment and labor. Please start removal as early as possible. Buyers must use insured and bonded riggers for any removal requiring use of mechanized equipment. Riggers must submit copies of proof of insurance and bonding of at least $1 million and proof of worker¡¯s compensation insurance to Auctioneer prior to any equipment removal. Buyers shall use state licensed professionals for any disconnect of hard-wired electricity and the removal of hazardous waste and shall comply with all environmental laws and regulations. Contact information for local riggers will be available from the auction company. Start planning your move early and be prepared to have all purchases removed on May 20th if possible. All smalls should be removed on May 20th as Auctioneer & Seller will not be responsible for small items remaining after May 20th. 7. Seller, Auctioneer and buyer expressly agree that Buyer is responsible for and agrees to indemnify Seller, Auctioneer and their respective affiliates for any and all damages (whether based on contract, tort, warranty, negligence, strict liability or any other legal theory, and including special, incidental and consequential damages), losses, expenses, attorneys¡¯ fees, court costs, etc., that arise out of or result from the removal, possession or use of any items purchased at auction, or any other claim regarding the use or possession of any asset purchased at auction. 8. The Auctioneers will not be responsible for property acquired that is not removed within the time period allowed. Any item not removed on time will be deemed abandoned. Buyer accepts full responsibility for all costs incurred by Auctioneer or seller for removal/storage/disposal of abandoned merchandise. 9. All buyers must acknowledge and accept the Terms and Conditions provided at the time of online registration. 10. Auctioneer is licensed by the Texas Department of Licensing & Regulation. W. Scott Swenson, TDLR Lic. #7809 Web: www.jonesswenson.com Email: info@jonesswenson.com Office: 972-387-1110