TERMS AND CONDITIONS OF USE FOR INTERNET ONLY AUCTIONS Please read the following pages carefully, as they contain the Terms and Conditions of Use that will govern your use of the SAM Auctions Website. These Terms and Conditions constitute a legally binding agreement between you and SAM Auctions. Use of the SAM Auction Website at www.samauctions.com will be considered acceptance of these Terms and Conditions. It is your responsibility to carefully read these Terms and Conditions before using this Website. DO NOT BID IF YOU CANNOT AGREE TO THE TERMS OF THIS CONTRACT OR ARE NOT ABLE TO PAY AND PICK UP YOUR ITEMS WITHIN THE SPECIFIED TERMS OF EACH AUCTION. Definitions The following terms are defined for use in this agreement, and their meaning in this agreement is limited to the given definition. "You", "Bidder," "Your", "Buyer" and "User": These terms refer to you. "SAM", "We", "Us", "the Company" and "Our": These terms all refer to SAM Auctions, Inc. "Seller": refers to the independent entity conducting or sponsoring the auction, including, but not limited to Auctioneers, Auction Houses or Auction Companies. Any terms or conditions listed for a specific auction will supersede those listed within the general terms in this agreement. Along with closing date and time, item inspection, location and removal times will also be listed for that specific auction. PAYMENT: By placing a bid, in the auction you authorize your credit card on file to be charged for total amount of purchases at the conclusion of the auction. It is your responsibility as the buyer to have available funds to pay for purchases. Accepted forms of payment include cash, Visa, MasterCard, American Express and Discover. A valid credit card must be kept on file with SAM Auctions at all times. SAM Auctions has the right to submit an authorization from time to time to ensure the credit card is valid. If the card becomes invalid, SAM Auctions will disable your bidding rights and they will not be reinstated until a valid credit card is provided. BUYERS PREMIUM/SALES TAX: A thirteen percent (13%) for credit card purchase’s and ten(10%) for cash purchase’s buyer’s premium will be added to each purchase UNLESS OTHER WISE STATED. If you bid $100.00, at checkout you will be charged $113.00 plus sales tax based on the location of the auction. If tax exempt, contact SAM Auctions to provide a valid tax exempt form. NO SALES TAX REFUNDS WILL BE MADE. BUYERS PREMIUM WILL VARY FROM AUCTION TO AUCTION, PLEASE CHECK EACH AUCTIONS TERMS FOR DETAILS. Buyers Premium may vary from auction to auction, please check information tab for further information. STAGGERED CLOSING: The online auction closes VARIOUS items per minute. This feature will close the bidding on intervals. This feature works great with the auto-extend feature to closely emulate a 'live' auction. DYNAMIC CLOSING: The closing time of an asset is automatically extended an additional 2 minutes whenever a bid is placed within the last 2 minutes of the asset's closing time. BID NOTIFICATION: If you have been outbid you will be notified by email ONLY UNTIL the last day of the auction --- starting at midnight ARIZONA TIME the night before the ending of the auction notices are not sent. To quickly review your bids and see if you have won, you can utilize the 'review bids' feature. Items that YOU have been outbid on will be clearly marked. WINNING BIDDER NOTIFICATION: You will be contacted by email ONLY (you are responsible for checking your email) If you feel you have won an item and have not received an email you must notify us by email no later than 9am the next day. If you do not receive a paid email invoice then you did not win any items at the online auction. In the event an item is not available for pickup, the buyer must, notify our onsite staff and file a claim by replying to your original emailed invoice noting what was not available within 24 hours of the pickup date. After 24 hours, SAM Auctions and buyer agrees that no adjustment or refund will be made. CAUTION TO THE BIDDER: For demonstration purposes, various pieces of equipment may be joined together. Do not assume a lot consists of more than one item simply because they are connected/photographed together. You are bidding on the item as it is described and not the item in the photo. SAM Auctions makes an effort to ensure the descriptions are accurate and the photos match as well. However, an error can occur in the listing and in that case it will be the description and not the photo that will be the item won. If you feel there is a discrepancy or error between a listing and a photo, contact SAM Auctions for clarification and notification of error. WARRANTY & CONDITIONS OF ITEMS SOLD: All items are sold AS IS, WHERE IS, with NO WARRANTY expressed or implied by the lot number affixed to the item. This sale is to the business community as “equipment” and “inventory” without any implied or expressed warranty. Descriptions are believed to be accurate but not guaranteed. When not certain of the condition or use of an item, please bid accordingly. FINAL SALE: When you bid on the wrong item or decide an item is not suited for your intended use, our clients are not willing to assume the cost of your mistake. Once bidding ends, the item is contractually sold to the highest bidder and that item is the buyer’s property. When in doubt about condition, completeness or suitability for intended use, please bid accordingly. SAM Auctions reserves the right to add or remove items from an auction, split or combine lots, add minimum bids or reserve prices, cancel, suspend, extend or reschedule an item and/or auction event, and make changes to the auction closing, inspection, or removal times. Any controversy or claim arising out of or relating to this contract and/or agreement, or breach thereof, shall be settled by arbitration in accordance with the Commercial Arbitration Rules of the American Arbitration Association, and judgments upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. REMOVAL: Once an auction has ended, the items become the property of the winning bidder (buyer). Buyer assumes all risk of loss and damage to property from that point forward including at the premises of the sale. The removal date and time will be posted on the terms for each individual auction. REMOVAL TIMES ARE ABSOLUTE—IF YOU CAN NOT REMOVE YOUR ITEMS DURING SCHEDULED PICK-UP TIMES, DO NOT BID! Failure to remove purchased items during time allotted pick-up time will result in items considered abandoned. Ownership of item will then revert to party with primary vested interest in the item to sell or dispose of item as it sees fit. Any funds paid shall be forfeited to satisfy terms of sale. The buyer agrees to pay all deficiencies, legal, collection and other fees including transportation and storage expenses associated with delinquent accounts or abandoned/forfeited items. Premiums and fees remain applicable. SHIPPING: Shipping is handled auction by auction, please check each sales information tab for information. LIABILITY: SAM Auctions and Seller’s liability shall be limited to the refund of bidder’s purchase price. LIMITATIONS: The above-stated Terms and Conditions for SAM Auctions cannot be altered except in writing by SAM Auctions. ALL SALES ARE FINAL All property is sold AS IS, WHERE IS, and ALL SALES ARE FINAL. Property is open to thorough public inspection. It is the Bidders responsibility to determine condition, age, genuineness, value or any other determinative factor. Surplus Asset Management may attempt to describe the merchandise in advertising, on the Internet and at the auction but makes no representations. In no event shall Surplus Asset Management be held responsible for having made or implied any warranty of merchantability or fitness for a particular purpose. Bidder shall be the sole judge of value. Bidders who bid from off site and are not present at the live auction or preview understand and acknowledge that they may not be able to inspect an item as well as if they examined it in person. It is the Bidders's responsibility to determine condition, age, genuineness, value or any other determinative factor. Surplus Asset Management shall endeavor to describe in detail each item and any pertinent information about it. Surplus Asset Management will not be responsible for any errors or omissions in the description of the merchandise unless it is a material and intentional misrepresentation of the item itself. Bidder agrees that everything is sold as is and that they may not return any item they purchase. Surplus Asset Management is providing Internet pre-auction and live bidding as a service to Bidder. Bidder acknowledges and understands that this service may or may not function correctly the day of the auction. Under no circumstances shall Bidder have any kind of claim against Surplus Asset Management or anyone else if the Internet service fails to work correctly before or during the live auction. Surplus Asset Management will not be responsible for any missed bids from any source. Internet bidders who desire to make certain their bid is acknowledged should use the proxy-bidding feature and leave their maximum bid 24 hours before the auction begins. Surplus Asset Management reserves the right to withdraw or re-catalog items in this auction. ALL SALES ARE FINAL 1. Buyer (identified below) acknowledges that s/he has conducted a thorough inspection of the merchandise being purchased hereunder. All merchandise is sold in an "AS-IS, WHERE-IS, and AS INSPECTED" condition WITH ANY AND ALL FAULTS. The Seller (identified below) makes no warranties or guarantees, expressed or implied, as to the genuineness, authenticity or merchantability of, or defect in any item, and will not beheld responsible for any discrepancies or inaccuracies in any printed materials or otherwise. No warranties are made as to the merchantability of any item or its fitness for any purpose. 2. Payment must be made by Buyer to Seller the day of sale and prior to any removal of any item purchased hereunder by cash, wire transfer, certified check, business check with positive I.D. and "Bank Letter of Guarantee" in a form acceptable to the Seller, Visa, MasterCard, American Express, or Discover. When paying by credit card, Buyer is waiving any and all rights to initiate a credit card charge-back against the transaction and or the Seller. If paying by wire transfer the buyer has 24 hours to complete the transaction. After 48 hours a daily penalty of $300 will be added to the sale amount. Any wire transfer payment not received within two (2) days of the sale date constitutes a breach of this contract. 3. A BUYER'S PREMIUM OF 16% FOR CREDIT CARD PURCHASES ONLINE, 13% FOR CREDIT CARD PURCHASES LIVE, AND 10% FOR ALL CASH PURCHASES WILL BE ADDED TO YOUR INVOICE UPON CHECK OUT. 4. Applicable state sales tax will be added to all purchases. Exempt Buyers must provide a copy of their sales tax exempt certificate to the Seller at the time of purchase. Seller will retain this copy of the certificate for the sales records. Buyers unable to provide a copy of this tax-exempt certificate to Seller at the time of purchase must pay all applicable taxes and seek refunds through appropriate government agencies. Seller will not provide a tax refund. 5. Ownership title passes to Buyer upon the fall of the Auctioneers gavel and Seller's receipt of the payment referred to in Section 2 hereof, and thereafter the property is at the risk of the Buyer, and the Seller shall not be responsible for the loss or damage due to theft, fire, breakage, or any cause whatsoever, however occasioned. 6. Removal of the item purchased hereunder shall be at the sole expense, liability and risk of the Buyer and be completed by the date announced. Buyer is responsible for providing all labor, material, insurance (general liability for injury to person and damage to property in an amount not less than $2,000,000 for each occurrence) and equipment (fork lifts, dollies, ladders, tools, etc.) to properly execute removal and Buyer shall comply with all applicable laws and regulations related thereto. Before entry into the Building for removal by Buyer its agents, employees or contractors, Buyer shall provide Seller with a Certificate of Insurance indicating the insurance coverage required by the proceeding sentence and which shall provide that Seller be provided with thirty (30) days written notice prior to cancellation of such policy. Buyer is solely responsible to provide any personnel, equipment or material needed to pick up purchases and shall assume all responsibility for the removal of any item of property purchased at the sale and any and all risks associated with such removal including, without limitations, the responsibility for providing licensed and bonded professionals to ensure proper water, gas and/or power disconnections, and full financial responsibility for any damage or liability to persons or property resulting from any negligent act or omission of Buyer or any of Buyer's employees, agents and/or contractors during pick-up and removal. Buyer and its agents and contractors shall not unreasonably interfere with Seller's business operations in the Building. Buyer agrees that in the event purchased merchandise contains any environmental hazards, toxic waste or other type of hazardous material in any form whatsoever, Buyer shall provide to Seller evidence reasonably acceptable to Seller that Buyer or its representatives are licensed for such removal and shall comply with all applicable local, state and/or federal rules, laws and regulations. Seller, its agents or representatives will not be responsible for containment, storage or removal of hazardous material. Buyer must remove all purchased items. There is no right of abandonment. 7. Seller shall not be responsible for non-delivery to any Buyer of any item other than to refund the sum paid on any item, should Buyer be entitled to said refund due to Seller error. 8. The Seller reserves the right to withdraw any listed item from the sale, to sell items that are not listed, to group one or more items into one, to subdivide items and to sell any/all items in bulk. 9. In the event the Buyer fails to comply with any of the terms and conditions of the sale, the Seller may collect from Buyer damages. Buyer agrees to pay any and all charges and expenses incurred by reason of any breach of the terms and conditions of this sale, including, without limitations, reasonable attorneys' fees and reasonable attorneys' fees on appeal. Any merchandise remaining at the removal site after the allotted removal period will be considered a breach of contract. All rights to merchandise will be forfeited, all monies, including any Letter of Credit, will be retained by Seller and merchandise will be re-sold or otherwise immediately disposed of at Buyer's expense and Buyer shall not be entitled to any monies associated with the sale of such merchandise. Buyer will lose any right, title or interest Buyer may have acquired and the merchandise shall revert and repossess to the Seller without further notice to Buyer. Any disputes between the Buyer and the Seller must be filed and litigated in Phoenix, AZ, without regard to choice of law provisions, and each party irrevocably submits to the jurisdiction of the Arizona courts in any such action, suit or proceeding. The validity, meaning and effect of this agreement shall be determined in accordance with the laws of the State of Arizona. In the event any action, proceeding or hearing is required to enforce any of the terms of this agreement, the prevailing party shall be entitled to recover its costs and expenses incurred therein, including reasonable attorneys' fees and reasonable attorneys' fees on appeal. 10. These written terms and conditions of sale supersede any other terms and conditions, either written or verbal and cannot be modified. The terms of this agreement are for the benefit of Seller and Buyer and no third party shall have any rights hereunder. 11. Buyer shall not permit any liens to stand against the Building or any property related thereto or any portion thereof for any work done in the removal. Without limiting the foregoing, Buyer shall, at its sole expense and within ten (10) days after receipt of written notice from Seller, cause any outstanding lien to be satisfied and released of record or transferred to bond in accordance with applicable law. 12. Buyer shall indemnify and hold Seller harmless from and against any and all loss, damage, liability or claims (including, without limitation, costs and expenses of litigation and reasonable attorney's fees [collectively "Claims"]) arising from or connected with this agreement, except to the extent such Claims are due to Seller's gross negligence or willful misconduct. 13. If for any reason whatsoever, Seller is unable to effect delivery of any purchase or clear title to the same, or any necessary documentation required in respect of any purchase, whether before or after delivery of such purchase, Seller's sole liability, if any, shall be the return of any monies paid on such purchase upon its return to Seller. Any purchase the subject of this paragraph shall be returned or surrendered to the Seller forthwith upon demand, such demand to be at the sole option of the Seller. 14. You are signing a written, binding contract signifying that you have read these terms and all posted terms and agree to the terms and conditions of the sale. If you do not agree or understand the terms and conditions of the sale, please return your bid card to registration. The sales invoice identifies the merchandise being sold to Buyer and the date by which such merchandise must be removed.