DISCLOSURES Cole Auction is located in Huntsville and Madison, Alabama. All auctions are conducted under federal, state, and local laws relevant to our locations. License Information: Cole Auction Liquidators, LLC AL #284 Cole Properties & Auction, Inc. AL #120 Principal Auctioneers: Personal Property: W. Todd Hess AL #5536 Real Estate: W. Todd Hess AL #5536 Arthur Cole III AL #1417 GENERAL INFORMATION Cole Auction solely represents the seller. No part of our website, terms and conditions, or any other written information shall be considered a contract or establish an agency agreement with a bidder or a buyer. All sales are considered as-is, with any and all faults, and without any warranty or guarantee. All sales in this auction are subject to final approval of the seller. We will contact you as soon as the seller approves the sale of his/her item. All sales are subject to final approval of the seller (reserve) unless otherwise specified. Any items a seller intends to sell without reserve (absolute), Cole Auction will disclose that fact in the item description with the word, “ABSOLUTE”. Cole Auction and/or the Seller reserves the right to withdraw any item for any reason prior to an auction. All items in this auction are under reserve PAYMENT INSTRUCTIONS For items over $5,000, 12% of the balance is due the day of seller approval. The remainder is due within 72 hours of the approval. For items under $5,000, The entire balance is due the day of seller approval. Cole Auction will only accept wires for amounts over $5,000. Local buyers may pay by cashier's checks on a case-by-case basis. Cole Auction will accept credit cards, cash, and cashier's checks for items under $5,000. This also applies to the 12% due the day of the auction mentioned above. Should you use a credit card to pay for the 12% and subsequently send a wire for the remainder, we will offer the 3% discount on the wire, cash, or cashier's check. The 3% processing fee would still apply to the card portion of the payment. See our fee disclosure in the next section. FEE DISCLOSURE A base 12% premium will be added to the final bid. This premium is broken down as follows: 9% Buyer premium to Cole Auction 3% Internet premium charged by Proxibid Processing and admin fees: Wires - $5 per wire Other forms of payment - 3% *Cole Auction will waive the 3% for cash, cashier's checks, or wires.* Example: If the sale is approved and you send a wire, the total would be 15% minus a 3% discount totaling 12%. The 5$ fee for the wire would still apply. If you pay by card, the total amount added would be 15%, but there would be no $5 fee. SALES TAX ***** Sales tax varies by location of buyer and seller, buyer type, item type, and other various state and local laws. Call for more information **** The state of Alabama requires that we collect sales tax on all items. This sales tax is inclusive of any premiums. This is state law and beyond our control. There is an exception for government sales, court ordered sales, and sales whereby a seller has a tax license and is liquidating a business under that license. These sales are exempt from sales tax. Cole Auction will disclose which sales fall under any of these categories. BIDDING POLICY Employees of Cole Auction and sellers may bid on lots in any auction. It is our policy that employees and sellers are subject to the same terms, conditions, and fees as any other bidder. No buyer premium discounts are offered to employees or sellers that choose to bid, excepting discounts offered to all bidders, such as a discount for cash payments. DAMAGED GOODS All items are sold as-is with any and all faults. Where possible we will disclose the condition of the items we sell in the item description, but we cannot guarantee that items are free of defects, nor can we guarantee that the items are in working order. Should Cole Auction accidentally damage your item after the auction is held and before pickup, we will notify you and offer you a full refund. Cole Auction is NOT responsible for any damage caused after pickup or caused by your chosen shipper. If you choose to have a shipper package and ship the items to you, we HIGHLY recommend you purchase insurance from your shipper. Without shipping insurance in place, you have no remedy for items damaged in shipping. PICKUP Pickup is the responsibility of the buyer. Cole Auction does not deliver any items it auctions. Buyers should contact us by email or phone to arrange a pickup time. Please note that pickup locations may vary from item to item. All items in this auction are located in North Alabama at varying locations. When you call to schedule your pickup time, we will disclose the pickup location of your items. SHIPPING Cole Auction does not package or ship items. There are shippers available that will package and ship the items to you. We have conveniently provided a list of possible shippers that may do so. Buyers are responsible for contacting a shipper to make arrangements for packaging and pickup. Your shipper will need to contact us to arrange a time for pickup. Please note that pickup locations may vary from item to item. Currently, our suggested shippers are UPS and USHIP. ABANDONMENT Items not picked up within 30 days of the date of the auction shall be considered abandoned. Cole Auction shall not refund money for abandoned items. If you or your shipper contacts us within the 30 day period to make arrangements for pickup, Cole Auction will extend the 30 day period. The key to avoiding losing your items is COMMUNICATION! We understand that things happen, and we are happy to work with you the best that we can. Cole Auction, at its discretion, may hold your items for you longer than 30 days at your request. Again, communication is the key to success! Should you request that we store your items past the initial 30 days, we will charge a minimum $25 per month for storage. Storage fees will vary depending upon the size or quantity of the items.