TERMS AND CONDITIONS OF THE AUCTION INTERNET BIDDERS MUST FAX A COPY OF THEIR DRIVERS LICENSE TO WHITLEY AUCTIONS PRIOR TO BIDDING ONLINE 970-224-4040 By registering to bid or placing a bid you agree to be bound by all of these terms & conditions and any other announced terms and conditions of sale or rules of the site. 1. All persons attending the exhibition, sale, or removal of merchandise assume all risks of damage to person or property and specifically release and indemnify Rocky Mountain Estate Brokers Inc. (RMEB), David P. Whitley, Integrated Logistics Services Inc., The United States of America and any of its subdivisions or subcontractors from any liability. 2. All property is sold “AS IS”, and ALL SALES ARE FINAL. Property is open to thorough public inspection. It is the Bidder’s responsibility to determine condition, age, genuineness, value or any other determinative factor. RMEB may attempt to describe the merchandise in advertising, on the internet and at the auction but makes no representations. In no event shall RMEB 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. 3. All internet Bidders agree to pay a buyer’s premium equal to fifteen (15%) of the hammer price of each item they purchase. If the hammer price of an item is $100.00 the buyer’s premium will be $15.00 for a total purchase price of $115.00. Under state law sales tax will be collected on this amount. 4. 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 Bidder’s responsibility to determine condition, age, genuineness, value or any other determinative factor. RMEB shall endeavor to describe in detail each item and any pertinent information about it. RMEB 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 for any reason accept an intentional and material misrepresentation of the item itself made by RMEB. Bidder’s sole remedy in the event of an intentional and material misrepresentation of an item shall be to return the item, at their expense and in the same condition it was shipped to them. If RMEB agrees that the item was materially and intentionally misrepresented RMEB will refund the Bidder’s purchase price to him/her. Bidder agrees that under no circumstances whatsoever will RMEB ever be liable to any bidder for an amount greater than the purchase price of the item they purchased. 5. RMEB 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 RMEB or anyone else if the internet service fails to work correctly before or during the live auction. RMEB 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. 6. The auctioneer shall advance the bidding at his own discretion. RMEB may withdraw any item before or during the auction. Should a tie or a dispute arise between two bidders, the auctioneer may, at his discretion, reopen the bidding until the property is sold. The record of the auction made by RMEB shall be conclusive. 7. When the auctioneer says “sold” Bidder assumes full responsibility for the merchandise. Everything MUST be paid for in full at the conclusion of the auction. Payment shall be made in cash or certified funds or, for internet bidders only, by VISA or Mastercard. Checks of any kind must be accompanied by an irrevocable bank letter of credit guaranteeing payment to RMEB and approved at least 24 hours in advance of the auction. If a check accepted by RMEB is returned for any reason bidder agrees that RMEB may re-present it in person or electronically and collect the amount of the check as well as the highest service charges and fees allowed under Colorado law. If paying by certified check with a bank letter of credit Bidder shall immediately send payment by overnight priority mail to RMEB, P O Box 272626 Fort Collins CO, 80527-2626. If RMEB does not receive payment by 12:00 Noon on January 21, 2003 bidder aggress that RMEB shall add an administrative collection fee of $100.00 to their balance due. Any amount left unpaid shall accrue interest at the highest rate allowed under Colorado state law. Unless exempted by law, the purchaser shall pay any and all applicable taxes. Bidder agrees to indemnify RMEB against any claim if sales tax is not collected on Bidder’s purchases. Bidder agrees to not stop payment on any check paid to RMEB. Bidder further agrees that under no circumstances will he/she initiate a chargeback on his/her credit card. Title to the merchandise transfers to Bidder only when Bidder’s payment has been honored. 8. All property shall be removed from the premises by the Bidder at her/his own risk and expense within the time period announced. ALL MERCHANDISE PURCHASED AT THIS AUCTION MUST BE REMOVED BY FRIDAY, January 24, 2003 AT 3:30 PM. Internet bidders should arrange to pick up their purchases within this time period. The auction company can arrange for packing and shipping. Packing and shipping costs are the responsibility of the buyer and may be quoted before shipping. Fragile items and purchases over $500 will be shipped by a professional packer and may result in higher shipping costs. All items will be insured for the purchase price. Our first priority is to deliver your new purchase in excellent condition. Any merchandise not removed by bidder may be moved and stored at bidder’s expense, resold at the next auction or disposed of in any other way RMEB deems to be suitable. Bidder shall have no claim to merchandise not removed by the above date. 9. Bidder agrees that this agreement shall be governed by the laws of the state of Colorado and hereby grants sole jurisdiction and agrees to submit to the personal jurisdiction and venue of a court of subject matter jurisdiction located in Larimer County, Colorado. Bidder agrees and grants that service of process on them may be obtained by mailing a certified letter, containing a summons, postage prepaid, to them at the address they provided to register. Should a dispute arise between RMEB and Bidder, Bidder waives any right to a trial or hearing in a court of law and agrees to settle the dispute through binding arbitration in Larimer County, Colorado. 10. RMEB may refuse a buyer’s number to anyone for any reason. Bidder agrees to provide any identification RMEB may request including but not limited to: drivers license, photocopies of credit cards, Social Security card or US Passport. Bidder agrees to comply with any stated additional terms or conditions associated with particular items including export restrictions. 11. We want you to be happy with your purchases. If you have questions about the merchandise the time to ask questions is well in advance of the live auction. No returns are allowed. Thank you for your patronage.