AUCTION – NEX-TECH AEROSPACE – February 29, 2012 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 March 29, 2012”. No purchases will be moved until paid for in full. 3. Buyer’s Premium: 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. Purchases being shipped out of the country will be charged sales tax. Buyer may receive a refund when they provide Auctioneer with acceptable proof of export within 30 days of sale. 5. Removal: Purchases may be removed on Auction day and then March 1 & 2 from 9am until 4pm. After March 2, removal will be by appointment. Call Sale Mgr. Carl Naylor (940-594-3581) to schedule removal time. All purchases (with the exception of the Gantry Mills) must be removed no later than March 10, 2012. Removal time each day will be by appointment and will be from 9am until 4 pm. Gantry Mills must be removed by March 23, 2012. Buyers assume all responsibility for handling, removal & transportation of purchases. A list of approved riggers is available from the Auctioneer. Auctioneers do not provide loading, packing or shipping services. Neither Seller nor Auctioneer shall be responsible for goods not removed within the time allowed, but shall have the option to remove and store at the expense and risk of the purchaser any items purchased, but not paid for and/or removed within the time provided. Small carry-out items (tools, machine parts & accessories, office machines, etc.) are to be removed by March 1. Auctioneer and Seller assume no responsibility for small carry-out items left on premises after that time. 6. Contract Movers/Riggers: If purchaser wishes to hire or contract with a machinery mover, rigger or other type of outside contractor, Auctioneer and Seller WILL NOT ALLOW them to work on these sale premises unless they have placed with the Auctioneer PROPER INSURANCE protecting the Auctioneer and Seller against any or all claims arising from personal injury and/or property damage created by their actions. This requirement is for the Seller’s and Auctioneer’s protection - NOT FOR PURCHASER’S, therefore the Auctioneer suggests that the purchaser review the insurance policies of the machinery mover regarding the coverage that they have protecting the purchaser and damage or loss of the equipment they may be moving for the purchaser. Any purchaser who brings their own motorized or powered equipment on the premises to dismantle or remove equipment must provide the Auctioneer with PROPER INSURANCE as stated above. 7. Condition of Articles Sold: 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. Any error in description made by the Auctioneer or Seller does not relieve the buyer or his agent of their responsibilities. 8. Dispute Between Bidders: 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. 9. Safety Devices: Items purchased may not incorporate approved activating mechanisms, operating safety devices or safety guards, as required by OSHA or otherwise. It is purchasers responsibility that items purchased be so equipped and safeguarded to meet OSHA and any other requirements before placing such articles into operation. 10. Indemnification: Purchaser agrees to indemnify and hold Seller and Auctioneer harmless from and against all claims and liabilities relating to the condition or use of the items purchased or failure of user to follow instructions, warnings or recommendations of the manufacturer, or to comply with federal, state and local laws applicable to such items, including OSHA requirements, or for proximate or consequential damages, costs or legal expenses arising therefrom. 11. Risk to Person and Property: Persons attending during exhibition, sale or removal of goods assume all risks of damage of or loss to person and property and specifically release the Auctioneer and Seller from liability therefore, neither the Auctioneer nor Seller shall be liable by reason of any defect in or condition of the premises on which the sale is held. 12. Online Bidding: 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. 13. Announcements on sale day supersede any and all previously released information including all oral or printed matter regardless of the medium. 14. 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 (972)387-1110. 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 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