CONDITIONS OF SALE: BIDDERS TAKE NOTICE THIS SALE IS CONDUCTED IN ACCORDANCE WITH, AND ALL ACTS OF INTERESTED PARTIES AND/OR CLAIMS BY THEM SHALL BE GOVERNED BY THE FOLLOWING CONDITIONS OF SALE: FIRST – APPLICABLE LAW: All horses in this sale are offered according to the laws of the state wherein the sale is conducted. The right to bid, as provided under law, is reserved for all consignors unless otherwise announced. SECOND – THERE IS NO WARRANTY EXPRESS OR IMPLIED BY THE AUCTIONEER, SPONSORS, OWNER OR CONSIGNOR, AS TO THE PERFORMING SOUNDNESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY HORSE OFFERED IN THIS SALE. ALL HORSES ARE SOLD “AS IS” WITH ALL EXISTING CONDITIONS AND DEFECTS EXCEPT AS SET FORTH IN CONDITIONS EIGHTH, NINTH, TENTH AND ELEVENTH BELOW. BUYERS SHOULD EXAMINE HORSES PRIOR TO PURCHASING. THIRD – BIDDING PROCEDURE: The person making the highest bid recognized by auctioneer shall be the buyer. The auctioneer shall immediately present the buyer with a document entitled Acknowledgement of Purchase for signature. Should such presentation not be made prior to commencement of bidding on the next lot offered, the buyer shall forthwith identify himself or herself to auctioneer as buyer and sign the Acknowledgement of Purchase. In the event that a person other than the recognized buyer signs title to the horse, and immediately that such erroneous signing of Acknowledgement of Purchase becomes known to the auctioneer, he shall cause the Acknowledgement of Purchase to be presented to the recognized buyer for signature. If the highest bidder fails to immediately execute the Acknowledgement of Purchase or otherwise fails to comply with the Conditions of Sale, or in the event of a mistake by the auctioneer, Meri-J Ranch and/or Rita Crundwell reserves the option to resell the animal and such resale shall terminate all obligations of Meri-J Ranch and/or Rita Crundwell to honor any prior lot. FOURTH – BIDDING DISPUTES: Should any dispute arise between or among two or more bidders, the auctioneer shall forthwith adjudicate the dispute, and his decision shall be absolute, final and binding on all parties. Bids received by personnel employed by the undersigned have the same stature as bids received by auctioneer. In case of dispute, the bidding shall be reopened for advance bids, and if there be no advance bid, the horse is sold to the person from whom auctioneer recognized the last bid. Advance bidding shall be restricted to the disputing parties, unless the bid is reduced below the level of the recognized bid at commencement of dispute, in which case bidding is reopened to all. The auctioneer reserves the right to reject any or all bids. FIFTH – TITLE AND DELIVERY: Title passes to buyer at fall of the hammer. All risk of injury to the horse becomes buyer’s risk at passing of title. Horse will be held for buyer by consignor until buyer makes settlement as provided in CONDITION SIX below. Buyer shall immediately present himself or herself to make settlement if requested by auctioneer, but in any case shall so present himself or herself within thirty minutes of conclusion of the sale. Upon settlement by buyer, horse will be delivered pursuant to a “bill of sale” provided by undersigned to buyer or his or her representative. Buyer or his or her representative shall present “bill of sale” to designee of undersigned to remove horse from sale premises after taking possession, but in any case taking possession of the horse by buyer or his or her representative shall constitute delivery. Upon delivery, buyer shall cause horse to be removed promptly from the sale premises, or shall be subject to stable charges as determined by undersigned. In addition, should purchaser fail to cause horse to be removed promptly, undersigned may cause horse to be removed from sale premises at buyer’s risk and expense. SIXTH – TERMS FOR SETTLEMENT: Buyer shall make settlement with cashier of the undersigned. Payments to others, including consignors or their representatives, do not constitute settlement. Buyer shall present himself or herself to make settlement as provided in CONDITION FIFTH above for the full purchase price, such settlement to be in form of U.S. currency or equivalent acceptable to cashier. The Acknowledgement of Purchase is not transferable without the approval of Meri-J Ranch and/or Rita Crundwell and the copy of the Acknowledgement of Purchase retained by the buyer must be presented by the buyer at the time of settlement. SEVENTH – DEFAULT: SHOULD BUYER FAIL TO COMPLY WITH ANY TERM OR CONDITION OF THE SALE THE BUYER WILL BE DEEMED TO BE IN DEFAULT. IN EVENT OF DEFAULT BY THE BUYER THE UNDERSIGNED MAY, IN ITS ABSOLUTE DISCRETION, PURSUE ANY REMEDY AVAILABLE AGAINST THE DEFAULTING BUYER, INCLUDING, BUT NOT LIMITED TO, TAKING POSSESSION OF THE AUCTIONED ITEM. In any such case defaulter shall be liable for any deficit in his account after charging to his account all costs of maintenance and resale including, but not limited to, service charges, attorneys fees, costs of litigation and damages available to undersigned by law. EIGHTH – WARRANTIES AS TO DESCRIPTION: UNLESS OTHERWISE ANNOUNCED THERE IS NO REPRESENTATION OR WARRANTY AS TO THE BREEDING QUALITIES OF ANY HORSE DESCRIBED AT TIME OF SALE. 1) Each broodmare selling as “bred to” a stallion will have been palpated within 10 days of sale, and reported at sale as “in foal”, “open/barren”, or “ bred” (meaning an insufficient amount of time has passed to determine pregnancy). 2) Any contractual agreements between owners of broodmares in this sale and owners of stallions to which these mares may have been bred do not follow the mares unless so indicated at time of sale. The possible return to any stallion or possible refund of any stud fees does not go with any broodmare unless so indicated at time of sale. NINTH – WARRANTIES AS TO SOUNDNESS: UNLESS EXPRESSLY ANNOUNCED FROM THE AUCTION BLOCK, OR BY OFFICIAL PUBLICATION OF THE UNDERSIGNED, OR AS HEREINAFTER PROVIDED, THERE IS NO WARRANTY OR GUARANTEE OF ANY KIND AS TO THE SOUNDNESS OF CONDITION OR OTHER QUALITY OF ANY HORSE SOLD IN THIS SALE. TENTH – LIMITED WARRANTIES: Horses which are unsound in eyes or mouth, are “cribbers”, “wind suckers”, or “crypt orchids” must be so announced. Each bidder is encouraged to conduct such inspection and examination of each animal prior to bidding. Except as otherwise announced by the auctioneer at the time of sale, the consignor of each animal represents and warrants to the buyer and Meri-J Ranch and/or Rita Crundwell title to the animal free from all adverse claims to ownership, use or possession. Each animal is sold by the consignor WITHOUT WARRANTY AND WILL ALL FAULTS. ELEVENTH – CONSIGNEE STATUS: Meri-J Ranch and/or Rita Crundwell is operating as an independent contractor engaged in the business of conducting a consignment sale. Meri-J Ranch and/or Rita Crundwell has compiled the Sale Catalog from information provided by the designated consignor. All announcements by the auctioneer at the time of sale are made on behalf of the designated consignor and will take precedence over the printed provisions of the Sale Catalog. In the event of any dispute between the buyer and the consignor, Meri-J Ranch and/or Rita Crundwell will occupy the position of agent for a disclosed principal and stake holder and will be discharged from all obligations owing to the consignor or the buyer on delivery of any property or funds held by Meri-J Ranch and/or Rita Crundwell to the Court having jurisdiction of such dispute. Meri-J Ranch and/or Rita Crundwell makes NO REPRESENTATION OR WARRANTY with respect to any animal and the buyer must look solely to the designated consignor for recovery of any damage by reason of the failure to any representation of limited warranty. TWELFTH – CATALOG AND ANNOUNCEMENTS: Horses cataloged in this sale are offered as represented by consignor, and auctioneer is not responsible for the accurancy of information provided. In case of error or omission, buyer shall seek redress only from consignor. THIRTEENTH – COLLATERAL AGREEMENTS: The auctioneer shall not be bound by any oral or written agreement or alleged agreement varying from these Conditions of Sale between the buyer and the consignor unless agreed to by the auctioneer, and any controversy or claim between the buyer and the consignor arising under any such agreement shall be a matter for their resolution. By: Meri-J Ranch Rita Crundwell