AUCTION TERMS and CONDITIONS American Amusement Auctions Presents… Grand Lake Auction, a Live and Online Simultaneously Broadcast Auction Event Terms and Conditions for the Live and Online Simultaneously Broadcast Auction being conducted by American Amusement Auctions on Saturday, December 10, 2016 located at 301 Marina Drive, Grand Lake, Colorado 80447. American Amusement Auctions (AAA) and all bidders for this Auction agree that the terms and conditions (“Terms and Conditions”) set forth below shall govern the Auction Event. 1. ELIGIBILITY. All Bidders must be eighteen (18) years of age or older and shall have completed all registration requirements of Auctioneer. Auctioneer reserves the right, in its sole discretion, to deem any Bidder ineligible. 2. BUYER’S PREMIUM. A Buyer’s Premium equal to eighteen percent (15%) of the final successful high bid price shall be added to the final successful high bid (hammer price) for each item purchased through the online bidding platform www.Proxibid.com and a Buyer’s Premium equal to fifteen percent (15%) shall be added to the final high bid (hammer price) for all Live On-Site Bidders in addition to the State, County and Local Sales Tax Rate for each item respectively. 3. CONDITIONS of the AUCTION. Auctioneer reserves the right to accept bids in any increment as determined by Auctioneer in its sole discretion and reserves the right to waive or to modify any previously printed, posted or announced requirements. All announcements made by Auctioneer supersede any printed or online material or any other Auction statements previously made. Auctioneer may elect to cancel the Auction, or to withdraw any item or items from the Auction, without penalty and without notice at any time, prior to the start of or at any time up to the conclusion of the Auction. Auctioneer may, at its sole discretion, rearrange the order or sequence of the Auction, modify the Auction terms and conditions set forth herein, and reject any or all bids. An Auction of any item may have a reserve price (which reserve price may or may not be disclosed to Bidders), and if such reserve price is not met, such item shall not be sold. 4. BIDDING. All bids placed by a Bidder shall constitute a legal offer to buy the item at the stated bid amount. All bids, once made, are non-cancelable and cannot be retracted. If a Bidder's bid is the successful high bid, such bid shall constitute a binding legal contract between the successful Bidder to buy, and the Seller to sell the item at the successful high bid price. Auctioneer reserves that right to reject any and all bids in its sole discretion. 5. PAYMENT by SUCCESSFUL BIDDER. All bids are in US Dollars and all payments shall be paid in US Dollars. Payment is due and payable by all successful Online bidders within forty-eight (48) hours after the delivery to such successful Bidder of an invoice billing notice to the Bidder's registered eMail address on file with Auctioneer through Proxibid.com. Payment is due and payable by all successful Live, On-Site Bidders the day of the auction. (a) ONLINE BIDDERS: Payment from all Online Bidders shall be in the form of American Express, MasterCard and Visa. (a1) Online Bidders may also pay in the form of Cash. If you wish to pay your invoice with Cash upon pick-up your purchases, please bring a copy of your invoice to the auction site no later than 5:00 PM MST on Tuesday, December 13, 2016 unless alternate arrangements have been made in advance of the auction. (b) LIVE BIDDERS: Payment from all Live On-Site Bidders shall be made in the form of American Express, Cash, MasterCard or Visa. (c) Bidders acknowledge and agree that the successful Bidder shall be responsible for the payment of all applicable State, County and Local sales tax for the State of Colorado, County of Grand, City of Grand Lake in the amount of 7.900%, and that such taxes shall be added to the aggregate of the successful bid price plus the Buyer's Premium amount. If bidder holds a current, valid industry related resale permit, bidder must submit this to the Auctioneer by the day of the scheduled auction, prior to payment remittance. There shall be no sales tax refunds if bidder holds a valid industry related resale permit and fails to provide said document to the Auctioneer prior to remittance of payment. 6. ITESM SOLD AS-IS. Auctioneer makes no representation or warranty as to accuracy of the item descriptions, measurements, the authenticity, or the condition of the items being sold and shall not be held liable for any inaccurate description (whether made in writing or orally) of any item, nor for any damage, defects or condition of the items being sold. The item descriptions, measurements, colors and / or photographs are only being provided as a general guidance for the Bidders. Each Bidder acknowledges and agrees that (i) items will be made available for Public Preview and Inspection at the auction location on Thursday, December 8 and Friday, December 9 between the hours of 11:00 AM and 7:00 PM MST and on Saturday, December 10 between the hours of 9:00 AM and 12:00 PM MST; (ii) items have been photographed and made available to the public for online preview through www.Proxibid.com; (iii) he/she is being/has been strongly advised to personally and carefully inspect each item in which Bidder holds any interest, and (iv) he/she is relying solely on his/her personal inspection of the items and not on any photographs and/or descriptions or other information by or from Auctioneer. (a) ALL ITEMS WILL BE SOLD AS-IS, WHERE-IS WITH NO WARRANTIES, NO GUARANTEES AND WITH ALL FAULTS. The implied warranties of merchantability and fitness for a particular purpose, and all other warranties, either expressed or implied, are specifically excluded from the sale of the Auction items. All Bidders have been advised to not use any items purchased from the Auction for any functional use as Auctioneer expressly disclaims any guarantee or warranty regarding all items being sold at the Auction. Each Bidder hereby understands and agrees that Bidder assumes all risks of loss, damage or injury, whether personally, to others, or damage to property, arising from the use of items sold at the Auction. Furthermore, Bidder hereby releases Auctioneer from any and all claims, damage, losses or injuries or other costs incurred in connection with Bidder's use of any of the items sold at the Auction. 7. NO EXCHNAGES or RETURNS. All sales made at the Auction are Final and there will be No Exchanges, Refunds or Returns for any item sold at the Auction. There will be no exceptions to this term. 8. DELIVERY and SHIPPING. Following the payment in full of all amounts payable by the successful Bidder (including, without limitation, the Final High Bid Price, Buyer’s Premium and all applicable Sales Taxes), it is the sole responsibility of the successful Bidder to remove their items purchased from the Auction location no later than the removal schedule listed below in section 8a (unless alternate removal arrangements have been made with Auctioneer in advance of the Auction close date). Except as otherwise expressly set forth in any such prearranged shipping arrangements, Auctioneer shall not be making shipment of any items. Notwithstanding anything to the contrary contained herein, all Bidders acknowledge and agree that (i) Auctioneer shall have no obligation or responsibility regarding the shipment or delivery of any items and; (ii) the successful Bidder shall, at his/her sole discretion, cost and expense, make all necessary arrangements for either the pickup and removal of all such items as per the removal schedule below in section 8a or to make their own arrangements with a freight forwarder selected by the successful Bidder (provided that such freight forwarder shall be required to provide Auctioneer with proof of liability insurance prior to any removal or packaging work that they may do at the Auction site). 8a. REMOVAL SCHEDULE: Unless alternate pick-up or freight forwarding arrangements have been prearranged, all items purchased must be removed from the physical auction location of: Grand Lake Center, 301 Marina Drive, Grand Lake, Colorado 80447 by the removal schedule outlined below: Removal Schedule No. 1: Sunday, December 11 between the hours of 10:00 AM and 5:00 PM Removal Schedule No. 2: Monday, December 12 between the hours of 10:00 AM and 5:00 PM Removal Schedule No. 3: Tuesday, December 13 between the hours of 10:00 AM and 5:00 PM Removal Schedule No. 4: By Appointment Only for Volume Purchases and Freight Forwarding 9. STORAGE FEES. All Auction items shall become the full responsibility of the successful Bidder upon the conclusion of the Auction for each item purchased, and Buyer assumes all risk of loss and damage to property from and after such time. Bidders acknowledge and agree that any and all Auction items will not be released to the successful Bidder until Auctioneer has received payment in full of all amounts payable hereunder. Subject to any shorter time periods within which the successful Bidder is to remove the purchased item from Auctioneer’s location as set forth herein, all purchased items must be fully paid for by the successful Online Bidder no later than two (2) calendar days from the auction date and Live Bidders the payment is due in full the day of the auction. Items must be removed from Auctioneer’s location by the successful Bidder at his/her sole expense and by the removal schedule listed in Section 8a above. For each item remaining with Auctioneer following the time period required for such removal as set forth herein (whether such item remains with Auctioneer due to the successful Bidder’s failure to pay all amounts due, failure to timely make arrangements for the pickup and delivery of such item, or otherwise), the successful Bidder shall be charged a $25.00 storage fee per item, per day (provided that for any oversize items, the successful Bidder shall be charged a daily storage fee as reasonably determined by Auctioneer to store such oversize item, not to exceed $50.00 per day). 10. PURCHASE DEFAULT. If any successful Bidder fails to timely pay for any item in the manner set forth herein, in addition to all other rights and remedies available to Auctioneer and to Seller, including, without limitation, the right to hold the successful Bidder liable for the total successful bid price, the Buyer’s Premium, and all other amounts payable hereunder, Auctioneer may, at its sole election (i) cancel the sale to such successful Bidder and/or resell the item or items to another person or entity via Auction or any other method (without any liability or obligation to such successful Bidder), (ii) continue to hold such items and collect the storage fees applicable thereto until such date of the final Removal date and time per section 8(a), or (iii) bring an action for specific performance. In the event of any default by any successful Bidder, such Bidder shall pay all reasonable differences in the cost of any resale, any deficiency amount by which the original sales price to such Bidder exceeds the sales price upon resale, and all other costs and expenses relating to or arising from such default (including, without limitation, attorney’s fees, late fees, collection fees, storage fees, travel fees, auto rental, hotel accommodations, labor, freight and handling, fuel and other incidental expenses). 11. DISPUTE RESOLUTION. Auctioneer’s decision is final in the event of a dispute between Bidders over any Auction matter. In the event of any such dispute, Auctioneer may, at its sole and absolute discretion, reopen the bidding between the disputing Bidders and/or cancel the sale and reopen the bidding to any and all Bidders. In the event of a tie bid between two or more Bidders, the Auctioneer’s determination as to which Bidder is the successful Bidder shall be binding and final. Auctioneer reserves the right at its sole discretion to allow those bidders who are physically present bidding live to take precedence over an online bidder in the event of a tie bid. 12. INDEMNIFICATION. All Bidders agree to indemnify and hold Auctioneer, its owners, affiliates, employees, directors, members and agents (“Auctioneer Parties”), harmless from and against any and all claims, demands, liabilities, losses, costs (including reasonable attorney’s fees) related to, arising from or associated with, any breach of these Terms and Conditions by such Bidders, and any act or omission of such Bidders (including, without limitation, all personal injuries and property damage incurred on the Auction location or during the transport of any Auction items. Sellers agree to indemnify and hold Auctioneer Parties harmless from and against any and all claims, demands, liabilities, losses, costs (including reasonable attorney’s fees) related to, arising from or associated with, any breach of these Terms and Conditions by such Sellers, and any act or omission of such Sellers (including, without limitation, all personal injuries and property damage incurred on the Auction location or during the transport of any Auction items. In no event shall Auctioneer’s liability to any Bidder or Seller for any act or omission occurring in connection with the Auction which may exceed the amount of any Buyer’s Premium received by Auctioneer in connection with the item in dispute. In no event shall Auctioneer be liable for incidental, special, indirect, exemplary or consequential damages of any kind, including but not limited to loss of profits, value of investment or opportunity cost. Auctioneer shall be held harmless by Buyer and Seller should the sale of any Auction item fail to be successfully completed for any reason. 13. TECHNOLOGICAL MALFUNCTIONS. Bidders acknowledge that the Auction is being conducted Live and Online and will be Simultaneously Broadcast as such. The electronic (online portion) of the auction is utilizing electronic means and as such relies on hardware, software and internet communication lines that may malfunction at any time. Auctioneer shall not be held responsible or liable in any way for any interruption in service, delays, errors and/or omissions, whether caused by a malfunction in www.Proxibid.com’s computer, servers and/or auction software, Auctioneer’s computer equipment, Bidders’ computer equipment, communication lines, or otherwise. Auctioneer may, in its sole discretion, void any sale, suspend the Auction (including the bidding process) and re-sell any items that were affected by any technological issues, and any such determination by Auctioneer shall be conclusive and final. 14. MISCELLANEOUS. These Terms and Conditions shall be governed by the laws of the State of Colorado, County of Grand. Bidders expressly consent to jurisdiction over any disputes that may arise hereunder in the State of Colorado, County of Grand and that any and all claims or actions shall be brought and maintained only in the State of Colorado, County of Grand to the exclusion of any other venue, locale or jurisdiction. If any provision of these Terms and Conditions are held to be invalid or unenforceable, such provision shall be deemed deleted and the remaining provisions shall remain in full force and effect. These Terms and Conditions may be amended at any time by Auctioneer and any such amendment shall be effective upon delivery of a copy of the same to Bidders via the eMail address on file with Auctioneer, posting on Auctioneers website www.GrandLakeAuction.com or upon the posting thereof on Auctioneers online hosting platform www.Proxibid.com. By registering to bid at this Auction, or by actually bidding at this Auction, the Bidder acknowledges and agrees that he/she has read and understands all of these Auction Terms & Conditions and agrees to be fully bound thereby.