Terms of Sale – Nationwide Metal Recycling and Processing, Inc. 1. A refundable deposit of $500.00 is required at the time of registration, in order to participate in the auction. This deposit is refundable if the bidder is not successful in winning any of the items he/she bid on. 2. This Auction is for Nationwide Metal Recycling and Processing Inc. Assignment for the Benefit of Creditors Case No.:12-05392-CA-15. The court has issued orders dated March 6, 2012 approving the sale with certain limited exceptions. Copies of these orders are available from the auctioneer. The orders of the court if inconsistent with the terms of sale will govern. Certain items are sold with a reserve price and sale cannot be approved without meeting these reserves. The following lots with reserves are lot #40, #40A and 51. The sale of lot #40A (Inscale advantage digital drive-on scale) can only be done upon further order of the court. A deposit of 20% of the hammer price from the successful bidder of lot #40A will be held pending further order of the court and time shall be given to the successful bidder to remove the merchandise once and if the sale has been approved. 3. Inspection period is prior to the auction commencing. All bidders are urged to inspect the property prior to placing a bid. The failure to inspect the property shall not constitute cause for cancellation of sale. Once the auction begins, bidder can “look, but not handle or touch.” 3a. ALL SALES ARE AS IS, WHERE IS, with no warranty expressed or implied and subject to higher and better offers. In the event that the auction is rejected in any manner, deposits will be refunded via a Moecker Auctions company check and will be mailed out within 72 business hours after the termination of the auction. 4. Balance and full payment is due prior to removal of any merchandise. We accept only cash, cashier’s check or wire transfer payable to MOECKER AUCTIONS TRUST ACCOUNT. Net amount of wire must equal total of invoice. A letter of guarantee must accompany a company check from your bank. No credit cards or debit cards accepted. Balance and full payment is due by Thursday, March 8th, by 12:00 pm, or you forfeit your deposit. No exceptions will be made. 5. Removal/checkout: Removal will begin on Wednesday, March 14th, 2012 (only for the lots that have to be approved by the court). The hours of removal are from 9:00am to 4:00pm. Final day for removal is Wednesday, March 21st, by 4:00pm unless further extended. 5a. If any shortages exist on counts, an adjustment will be made only if claims are made at time of removal. No adjustments as to counts will be allowed after purchased item(s) are removed from the premises. 6. It is the buyer’s sole responsibility for the removal of the equipment and inventory and must supply their own handling equipment and personnel. The buyer must repair/replace any damage that occurs during removal. It is the buyer’s responsibility to secure all safety equipment to meet all applicable government safety standards in using or removing items purchased. Contractor removing Installed equipment from property must have adequate insurance listing “Alex Debogory Jr. Irrevocable Trust” the Landlord as an additional insured in accordance with the attached Exhibit “C”. Successful bidder must indemnify the landlord from any damages caused by the movement, dismantling, and removal of equipment including personal injury from the property. Purchaser of lot 40A (Drive-On Scale) and lot 51 (Sierra International Shear) must submit a proposed plan of removal to landlord within three (3) business days of proposed removal and landlord shall have two (2) business days to agree or object to the proposed plan. 7. 18% Buyers Premium (online) will be added to the final total. 8. Local sales tax of 7% will be added to the purchase of all taxable items. 9. Dealers who purchase for resale must file their resale permit numbers at this auction. No exceptions will be made. 10. Additional/Withdrawal of lot(s): The Trustee reserves the right to withdraw from sale any of the items listed in the catalog/brochure or to sell at auction items not listed. 11. Purchaser does hereby indemnify and hold harmless the auctioneer and seller from any and all damages, claims or liabilities from injuries to persons or property of any type whatsoever caused during the sale or by the removal of items purchased. 12. The seller and auctioneer shall have no liability to the buyer of any lot for non-delivery of any purchased item(s), other than the return of the buyers deposit or payment on the item. 13. In the event the purchaser fails to pay for the entire purchase within the time set forth by the auctioneer and/or fails to comply with any of the conditions or terms of sale, the seller may retain and/or recover the deposit as part of its damages and, in addition thereto, items that are not paid for can be resold at public or private sale without further notice. Any deficiency resulting from such resale shall be due to the auctioneer by the defaulting purchaser together with all charges, fees, and expenses including reasonable attorney fees incurred by such resale and enforcement of the obligation hereunder. 14. Removal shall be at the expense, risk, and liability of the purchaser. Auctioneers shall not be responsible for items not removed within the time allowed. If items are not removed within the specified removal time, purchaser shall be liable for any moving and storage costs incurred and, if not so removed, the items shall be deemed abandoned and sold. 15. A bid is a legal & binding contract. It is a promise to pay for goods purchased. 16. Collusion: Practices that eliminate competition, such as collusive bidding, (fictitious bidding during the auction for the purpose of misleading or stimulating other persons who are bidding in good faith) may warrant criminal, civil, or administrative action against the participant(s). 17. ALL ANNOUNCEMENTS MADE ON AUCTION DAY SHALL TAKE PRECEDENCE OVER PREVIOUSLY DISTRIBUTED INFORMATION. The buyer of any and all purchased equipment at this auction understands that if their intention is to export any equipment from this sale they will be responsible for confirming and following all of the US government’s guidelines pertaining to the legal exportation of any equipment to that country, the buyer will be referred to as the exporter. The exporter will be responsible for any export licensing, export declaration fees and preparation of any documents needed to ship overseas.