AUCTION – TEXAS PICKLE – JULY 20, 2011 TERMS AND CONDITIONS 1. This is a Public Auction. Prospective bidders must agree to these terms and present a valid driver’s license or acceptable photo I.D. to obtain a bidder card. 2. Payment accepted by Cash, Cashier’s Check, Check with bank letter of guarantee, VISA, MC or Discover credit cards or wire transfer with 25% down payment on auction day. Company or personal checks must be accompanied by a Bank Letter of Guarantee made out to Jones Swenson Auction Marketing only. Here is an example of how your letter must read: Mr./Mrs “Customer Name” is a customer of this bank. This bank will guarantee unqualified payment to Jones Swenson Auction Marketing on account #______ up to the amount of $_______. This bank will not allow stop payment on this check. This letter is good until August 5, 2011”. All payment methods must be approved by Auctioneer prior to bidding. No purchases will be moved until paid for in full. 3. A 10% Buyers’ Premium will be added to each item purchased on site and a 15% Buyers’ Premium will be added to each item purchased via online bidding through Proxibid. 4. Sales tax will be charged unless the equipment is for agricultural use or 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. Bidders should present their resale information at the time of registration. Exempt bidders must be prepared to sign a Sales Tax Exemption Certificate. 5. All items in the sale 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 error in description made by the Auctioneer or Seller does not relieve the buyer or his agent of their responsibilities. Any dispute among bidders will be settled by the Auctioneer at his sole discretion, and his decision and remedy will be deemed final. Any deletions or additions to the sale will be announced by the Auctioneer, either before or during the sale. 6. Jones Swenson Auction Marketing specifically disclaim all liability for compliance of any property sold at auction with safety standards or regulations issued by the U.S. Department of Labor’s Occupational Safety and Health Administration (“OSHA”) applicable to the property or machinery of similar type. The buyer assumes all responsibility for any modifications (including but not limited to the addition of guards or other safety devices) which may be required in order to bring the property into compliance with applicable OSHA or other national, state or local safety standards. 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. Removal: Buyers are responsible for their purchases immediately after the item is declared sold. There will be no check out supervision after auction day. The equipment will be accessible and a loading dock is available. Deadline for removal will be July 29, 2011. Any items remaining after this time will be deemed abandoned. Any concerns regarding removal should be addressed to Auctioneer 72 hours prior to auction. Buyers assume all responsibility for loading, removal and transportation of purchases. Riggers contact information is available from the Auctioneer. Auctioneers do not provide loading, packing or shipping services. 9. The Auctioneers will not be responsible for property acquired that is not removed within the time period allowed nor will they be responsible for any smalls that are not removed on auction day. 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. 10. Auctioneer and Seller are not responsible for any difficulties that may arise with online bidding and/or a bidder’s inability to submit a bid online in a timely fashion. 11. Announcements on sale day supersede any and all previously released information including all oral or printed matter regardless of the medium. 12. All buyers must acknowledge and accept by signature the Terms and Conditions provided at the time of registration. Any questions regarding Terms and Conditions should be directed to email: info@jonesswenson.com or call (800)460-2078. Watch our website for up-to-the-minute auction information. All auctioneers are licensed by the Texas Department of Licensing & Regulation. W. Scott Swenson, CAI, GPPA TX Auctioneer #7809 Dallas Office: (972)387-1110 Austin Office: (512)261-3838 www.jonesswenson.com W. Scott Swenson, CAI, GPPA, TX 7809 TX Broker #0425652 Dallas Office: (972)387-1110 Austin Office: (512)261-3838 www.jonesswenson.com Proud Members of the Texas & National Auctioneer Associations