TERMS AND CONDITIONS SALE INFORMATION: ONSITE & ONLINE LOCATION OF ITEMS: 192 Industrial Park Road, Pearisburg, VA 24134 CONTACT PHONE NUMBER: 804.232.3300 CONTACT FAX NUMBER: 804.200.5640 BIDDING BEGINS: Tuesday, August 27th @ 9:00am PREVIEW & INSPECTION: Monday, August 26th, 9:00am – 4:00pm and Sale Day Beginning @ 7:00am. ONSITE BUYER’S PREMIUM: A 10% Buyer’s Premium will be charged for each lot purchased. $10.00 minimum buy fee per lot (unless otherwise announced). INTERNET BUYER’S PREMIUM: A 13% Buyer’s Premium will be charged for each lot purchased which includes the 3% Internet Handling Fee per lot. There is a $10.00 minimum buy fee per lot (unless otherwise announced). CREDIT/DEBIT CARD HANDLING FEE: An additional Handling Fee is in effect (3% for Visa, MasterCard, Discover and 4% for American Express). The Handling Fee will be waived for each account paid for on time according to Motleys payment terms and paid for by Cash (CASH IS ACCEPTED, ONSITE, SALE DAY ONLY), Cashier’s Check, Check with Bank Letter of Guarantee or Wire Transfer. DEPOSIT: Motleys reserves the right to charge your credit card a $500.00 deposit, place a $500.00 hold on your credit card or charge the purchase price up to $500.00 at the fall of the hammer. TITLES: Titles are processed within ten (10) business days after payment is received in payment order. There is a $40.00 title fee for each title. Items being sold as ‘Title Delay’ are available 10 - 60 business days post auction. ‘Title Delay’ purchases must remain on the premises until said title is received. REMOVAL: Sale Day - Friday, August 27th – 30th, 8:00am – 4:00pm (CLOSED SATURDAY, SUNDAY & MONDAY) and Tuesday – Friday, September 3rd – 6th, 8:00am – 4:00pm. All items MUST be removed by Friday, September 6th by 4:00pm or they will be considered abandoned; NO EXCEPTIONS. • PLEASE NOTE: Buyer is responsible for loading and removal of items. MOTLEYS PAYMENT TERMS: ALL PAYMENTS ARE DUE BY FRIDAY, AUGUST 30th BY 4:00pm; NO EXCEPTIONS! A $50.00 per day Late Payment Fee will be charged on outstanding balances beginning Tuesday, September 3rd. Payment is accepted by Cash (CASH IS ACCEPTED, ONSITE, SALE DAY ONLY), Cashier’s Check, Wire Transfer or Visa, MasterCard, Discover, American Express (an additional handling fee is in effect, 3% for Visa, MasterCard, Discover and 4% for American Express). No personal or business checks accepted without Bank Letter of Guarantee on Original Bank Letterhead (see sample below). If payment is not received by the payment deadline, Motleys will process any outstanding balance due to the credit card provided at registration. PAYMENT LOCATION: Onsite: Sale Day Only. Post-Sale: Motleys I-95 Auction Complex, 3600 Deepwater Terminal Road, Richmond, VA 23234 - Exit 69 (Bells Road), 804.232.3300. • TO REMIT PAYMENT BY CREDIT/DEBIT CARD ON FILE, PLEASE CONTACT MOTLEYS INDUSTRIAL SAMPLE BANK LETTER OF GUARANTEE: This IRREVOCABLE letter of guarantee will guarantee checks made payable to Motleys Asset Disposition Group and is issued to _______________ (customer name) who is a customer of this bank. This bank will guarantee unconditional payment to Motleys Asset Disposition Group on account #___________ up to the amount of $_________________. This Letter of Guarantee is good through ______________________. WIRE TRANSFER: SunTrust, 919 East Main Street, Richmond, VA 23219; Account # 201 786 362; Routing # 061 000 104; Swift Code SNTRUS3A; Account Name - Motleys Auctions, Inc. For International Wire Transfers, please confirm with your banking institution any transaction fees that may need to be allowed for and confirm that the correct amount is being wired. Any direct deposit made into our account must be verified through our financial institution and this process may take up to a week minimum. No items will be released until verification has been completed. We discourage direct deposits into our account. FINANCING: Wells Fargo Equipment Finance, Inc., Roderick W. Hart II, Territory Manager, 301.787.8692 (phone), 866.620.1607 (fax), roderick.hart@wellsfargo.com / Go Capital, Brian Rose, Regional Account Manager, – 855.396.3600 (phone), 949.271.4023, brian@gocapitalusa.com. F. N. B. Equipment Finance, Zachary Roy, 410.935.5369 (cell), 800.278.6259 (office), 570.883.0928 (fax), royz@fnb-corp.com. NOTE: Motleys Industrial Division wants all of our customers to feel they have been treated fairly. Please do not enter a bid on an item if you do not feel comfortable with the item based on its condition. Auctioneer is not responsible for a bidder’s inability to place any bid, internet or otherwise for this auction for any reason. In the event of technology issues with Internet sales, the Auctioneer reserves the right to reopen or extend Internet bidding as it deems necessary and appropriate. ALL ITEMS ARE SOLD AS IS, WHERE IS, WITH ALL FAULTS AND WITH NO WARRANTIES, EXPRESSED OR IMPLIED. Inspect all equipment prior to bidding or placing bids. THERE WILL BE NO ADJUSTMENTS TO THE FINAL BID PRICE AFTER THE BIDDING CLOSES. Call to insure specific items are at the auction before traveling. This information is only a guide and is not a warranty or guarantee, actual or implied. All information was furnished to us by sources believed to be reliable, but is not guaranteed and is subject to errors, omissions and deletions from the auction. The sale site is hazardous. For their protection, NO CHILDREN UNDER 16 are allowed at the sale site (No se permiten menores de 16 años en el area de la venta). Fees subject to change without prior notice. ADDITIONAL TERMS & CONDITIONS OF SALE All persons bidding or otherwise attending auction (“Bidders”) acknowledge the following terms and conditions (“Terms and Conditions”) and agree to be bound by them. 1. Bidding. Bidding is open to the public without regard to race, color, sex, religion, or national origin. All bidders are required to have a bidder’s number to bid. To obtain a bidder’s number, a registration form must be filled out including full name, address, phone number, and other information. 2. Bidding Procedures: (1) Method, order of sale, and bidding increments shall be at the sole discretion of the auctioneer. (2) The auctioneer reserves the right to delete or add items at its discretion. (3) Motleys may act to protect the interest of buyers and sellers as an agent, by bidding through the auctioneer. (4) The auctioneer may open bidding on any item by placing a bid as an agent for any buyer or seller. (5) The auctioneer may continue to bid as an agent for a buyer or seller, either by placing consecutive bids or by placing bids in response to other bidders. 3. Auctioneer Authority. Announcements (both verbal and written) made on the day of the auction will take precedence over all printed material or oral statements made. The auctioneer has the authority, at his sole and absolute discretion, to deviate from, change, alter, or modify, the bidding procedures and conduct of the auction, at any time, including after commencement of the auction. 4. Bid Execution. Bids which are submitted to Motleys in writing, through the Internet, or otherwise placed with Motleys prior to or during an auction for execution at or below a specified price shall be entertained and executed by Motleys for the convenience of bidders. Motleys shall not be responsible for failing to execute such bids or for errors relating to the execution or such bids. Auctioneer is not responsible for a bidder’s inability to place any bid, internet or otherwise for this auction for any reason. In the event of technology issues with Internet sales, or for other reasons, the Auctioneer reserves the right to reopen or extend Internet bidding as it deems necessary and appropriate. 5. Purchaser Defined. The highest bidder whose bid is accepted by Motleys Asset Disposition Group (“Motleys” or “Auctioneer”), is the Purchaser (“Purchaser”). The “Final Bid” shall be the Purchaser’s bid as accepted by the Auctioneer, and all items are “Purchased” when the Purchase Price is accepted. 6. Buyer’s Premium. The Buyer’s Premium shall be paid by the Purchaser and will be added to the Final Bid on the item to determine the “Purchase Price”. If there is no Buyer’s Premium, the Final Bid is the Purchase Price. See Section “Buyer’s Premium” in the Sale Information portion. 7. ALL SALES ARE FINAL. All bidders are responsible to determine the age, description, condition, and authenticity of all Purchased items. Each item is auctioned “AS IS, WHERE IS, with all faults” in its condition at the time of sale, without any warranties or guarantees, either expressed or implied, INCLUDING BUT NOT LIMITED TO WARRANTIES OF TITLE, POSSESSION, QUIET ENJOYMENT, MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE, and without recourse by way of refund, reduction of the Purchase Price, or otherwise. No purchase will be set aside, nor will Auctioneer be liable, for incorrectness in description, misnomer, errors in cataloging, imperfection, or mislabeling of any item. 8. Catalog. The listing catalog has been prepared only as a guide based on information from sources believed to be reliable, but the accuracy thereof cannot be guaranteed or warranted by Motleys. Hours and miles which are stated in the catalog descriptions as “showing” are read on the meters and odometers, or as provided by owner, with no guarantee of accuracy. “Actual” hours and miles are guaranteed to be accurate. All announcements from the auction stand on auction day, to the extent that they are different from prior printed material take precedence. Any information provided by Motleys or its representatives, verbal or otherwise, is not guaranteed, to include, but not limited to country of origin or manufacturer. Purchaser acknowledges that all items were available for inspection prior to the auction and that Purchaser relies on his own inspection of the items and not the information listed in the catalog or otherwise provided by Motleys. 9. Disputes. Should a dispute arise between two or more bidders, the Auctioneer may re-open the bidding between the high bidders until the property is purchased. Should the Auctioneer and a bid assistant (bid spotter) simultaneously recognize conflicting bidders, even if the Auctioneer has announced the item as “sold,” the Auctioneer may re-open the bidding between the high bidders until the property is purchased. The Auctioneer will determine the purchaser and his decision shall be final and absolute. 10. Risk of Loss. Upon the fall of the hammer, or when the Auctioneer says “sold,” or when the internet auction closes, risk of loss shall pass to the Purchaser. Motleys accepts no responsibility for any loss or damage to any Purchased item once the hammer falls. It shall be the responsibility of the Purchaser to insure all Purchased items immediately. 11. Sales Tax. Sales or Use Taxes will be added to the Purchase Price of all taxable Purchased items. A current sales tax exemption certificate including sales tax exemption number must be presented to avoid paying sales tax. 12. Payment. All buyers must abide by the “payment terms” set forth for this sale. See “Sale Information” for details. Motleys may refuse to allow removal of Purchased items and all property of Purchaser consigned for auction with Motleys until the Purchaser pays all amounts due and owing Motleys. 13. Removal and Storage/Handling Fees. Purchasers must pay in full for all items purchased prior to removing any item(s). Purchasers must remove all purchased items from the auction site within the time allotted for removal. See “Sale Information” for details. Purchaser takes full responsibility for the removal of purchased items and holds harmless and indemnifies the consignor and auctioneer for any damage or injury in the removal or dismantling process. Motleys reserves the right to require proof of insurance coverage on any item, person or company. If for any reason Purchaser fails to remove any items from the auction site in accordance with this paragraph, including Purchaser’s failure to make full and complete payment of all sums due and owing to Motleys, Purchaser agrees to pay Motleys a storage fee of ten dollars ($10.00) per item, per day, and reasonable handling, transportation, maintenance, security and insurance fees and /or costs. Motleys may store any such unremoved item(s), and refuse to allow its removal, until payment of all storage, reasonable handling, transportation, maintenance, security and insurance fees and/or costs are paid in full. 14. Default by Purchaser. In the event Purchaser fails to pay the full Purchase Price of any Purchased items as per these Terms and Conditions, or other amounts due Motleys, Purchaser agrees to pay Motleys a storage fee of ten dollars ($10.00) per day, per item left at the auction site, and all storage, reasonable handling, transportation, maintenance, security and insurance fees and/or sales costs. Additionally, Purchaser agrees to grant Motleys a lien on all purchased items and all property of Purchaser consigned for auction with Motleys, and the proceeds of the sale of such property, until all the Purchase Price and all other sums due Motleys are paid in full. Motleys lien shall include the Purchase Price, all sales and use taxes paid by Motleys, buyer’s premiums (if any), storage, reasonable handling, transportation, maintenance, security and insurance fees and/or costs and other amounts due Motleys from Purchaser. In addition, Motleys, at its sole discretion, shall have the right to resell such items by public or private sale at a commission rate of Twenty-five (25%) Percent. Purchaser grants Motleys the right to withhold from the proceeds of such resale any and all sums due Motleys. Motleys exercise of its right to resell any items in accordance with this paragraph, shall not prevent Motleys from recovering the Purchase Price or any other amount due Motleys from the Purchaser. 15. Abandoned Property. Motleys may deem abandoned any item left at the auction site after the time provided for removal. In addition, Motleys, at its sole discretion, shall have the right to resell such items by public or private sale at a commission rate of Twenty-five (25%) Percent. Purchaser grants Motleys the right to withhold from the proceeds of such resale any and all sums due Motleys. Any sum remaining after full and complete payment of all amounts due and owing to Motleys shall be provided to the Purchaser. Motleys exercise of its right to sell any items in accordance with this paragraph, shall not prevent Motleys from recovering the Purchase Price or any other amount due Motleys from the Purchaser. Redemption of any abandoned goods will be allowed after complete payment of the Purchase Price and all other amounts due and owing to Motleys. 16. Titles. All title documents will be available to Purchaser upon complete and final payment of all sums due Motleys within ten (10) business days of such payment unless sold title delay. Items sold title delay shall remain at the auction site until title documents are available unless Purchaser signs a waiver. Purchaser shall not alter any purchased item prior to receipt of title. If merchantable title or documents necessary to secure merchantable title are unavailable, Purchaser shall return the item to the auction site in the identical condition as at the time of purchase upon which Motleys shall refund the Purchase Price. Motleys shall not be liable for any other amount, any improvements or repairs, or for any consequential or incidental damages incurred by the Purchaser. A $40.00 title fee will be charged for each title. 17. Loading/Unloading of Equipment. All items are sold “AS IS, WHERE IS”. Motleys does not provide operators for the loading or unloading of any vehicles or equipment under any circumstances. This is the sole responsibility of the Purchaser. 18. Withdrawn Property. Motleys reserves the right to withdraw any individual items or to cancel the sale of any items or offer any items in lots of groups. Motleys reserves the right to cancel the entire auction without notice or liability to Motleys. 19. Unauthorized Conduct. Motleys reserves the right to refuse any bidder registration privileges at any auction and/or refuse access to, or remove any person from the auction site for any reason including, but not limited to: 1) tampering with equipment, 2) collusive bidding, 3) stealing, 4) failure to abide by these Terms and Conditions, 5) intoxication, (6) inappropriate behavior. All Bidders acknowledge Motleys right to refuse access and to remove Bidders for such conduct and agree to leave the auction site upon request by Motleys. 20. Enter at your Own Risk. Bidders acknowledge that an auction site is potentially dangerous and Bidders shall so advise their agents and employees. Bidders enter the auction site at their own risk/and expressly agree to indemnify and hold Motleys harmless for any personal injury or property damage which may occur while at the auction site. NO CHILDREN under the age of 16 shall be permitted at the auction site. NO EXCEPTIONS! 21. “Buy Backs”. The owner of any item being sold may not bid on that item. 22. Notice. Except for announcements made pursuant to paragraph 3 of these Terms and Conditions, these Terms and Conditions may not be amended in any way, except by a signed, written agreement between Motleys and the Purchaser. 23. Arbitration. Bidders agree that any controversy or claim arising out of or relating to these Terms and Conditions shall be settled by arbitration in Richmond, Virginia, administered by the American Arbitration Association in accordance with its Commercial Arbitration Rules, and judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction thereof. Bidders agree that Motleys shall be entitled to its reasonable attorneys’ fees (25% of any amount awarded to Motleys) incurred in any arbitration or action to enforce or otherwise related to these Terms and Conditions. 24. SHERMAN ANTITRUST ACT. Title 15, Section 1 of the United States Code specifically prohibits any agreements that restrain trade and commerce and declares them to be illegal and a federal felony. The law provides: ‘Every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations, is declared to be illegal. Every person who shall make any contract or engage in any combination or conspiracy hereby declared to be illegal shall be deemed guilty of a felony, and, on conviction thereof, shall be punished by fine not exceeding $10,000,000 if a corporation, or, if any other person, $350,000, or by imprisonment not exceeding three years, or by both said punishments, in the discretion of the court.’ Any agreement among potential bidders at this auction not to bid against one another, or otherwise to dampen the bidding process, is illegal and will be immediately reported by Motleys to the United States Attorney and the Department of Justice for investigation and prosecution. This is a very serious matter and we want you to view it as such and conduct yourselves accordingly. 25. Claims: No claims will be allowed after removal of goods from premises or left on premises past removal deadline. 26. Responsibility for Non-Delivery: Neither the auctioneer nor the seller, in any event, shall be liable for non-delivery or for any other matter or thing, to any purchaser of any lot, other than for the return to the purchaser of the deposit or sum paid on said lot, should the purchaser be entitled thereto. 27. Acceptance. Bidding on any items or otherwise attending the auction indicates acceptance of these Terms and Conditions.