AUCTION – PORT SAN ANTONIO – OCTOBER 12 & 13, 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, VISA, MC or Discover credit cards. Wire transfers may be used with 25% down payment on auction day. No purchases will be moved until paid for in full. 3. Online Buyers must read and agree to these Terms & Conditions. Online buyers will be contacted by phone immediately after the last lot is sold to determine form of payment. If buyer cannot be reached their credit card will be charged immediately and a paid invoice will be emailed to the Buyer. If the credit card provided is not accepted then the Auction company reserves the right to resell the item to the back-up bidder. 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 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. 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: Equipment may be removed on Auction days and then on Friday October 14 from 9am until 4 pm. All smalls should be removed on auction day. Removal after Oct 14 will be by appointment. Call (512)261-3838. Deadline for removal is Oct. 18, 2011. Seller and Auctioneer must approve any exceptions to this deadline in writing. 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 removal, transportation and handling of purchases. Riggers contact information is available from the Auctioneer. Auctioneers do not provide loading, packing or shipping services. Liability Insurance in amount of $1,000,000.00 will be required to operate any forklifts, or motorized loading equipment. 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 (512)261-3838. 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 Proud Members of the Texas & National Auctioneer Associations