GENERAL CONDITIONS THE AUCTION: MEMORABILIA & CLASSIC AND COMPETITION AUTOMOBILES The voluntary public Auction consists of offering, publicly and irrevocably, the sale of a good in favor of the bidder that offers, through the bidding system and within the term granted for that purpose, a higher price announced by the auctioneer. The auction, object of this publication, will be held on Wednesday, November 22, 2017 at 6 o'clock in the afternoon, it will be directed in Spanish, it will be understood in Mexican pesos, it will be governed by Mexican legislation and according to the international custom of auctions. . THE AUCTION HOUSE JP AUCTIONS SA DE CV is a Voluntary Company of Sales in public auction (R.F.C. : JAU171108M47) Its main activity is the organization and sale of movable property at public auction and the appraisal of works of art, antiques and collectibles, acting as agent of the seller and intermediary between it and the buyer. The sellers declare that they own the consigned vehicles and that there are no pending vices or debts. CONFIDENTIALITY The Voluntary Sales Companies are subject to professional secrecy regarding the identity of the seller as well as the buyer and the conditions agreed in the Sales Mandate. THE AUCTIONEER It is the person authorized to direct the auction, who performs a strictly intermediary activity. The auctioneer will decide the starting price of the lots. PUBLIC EXHIBITION OF LOTS During the days of exhibition, the potential bidders will be able to inspect and verify the lots in details (automobiles and memorabilia objects). All the lots are sold in the state they are in and a photo will never replace the object, therefore, we encourage you to attend the exhibition, since once the lot awarded does not accept claims or retractions. Bidders participating in the auction are required to acquire the catalog in order to be informed of the conditions of sale. By purchasing the catalog, it is understood that you have read and accepted the conditions of sale. During the exhibition, you can register if you wish to participate in the auction, or leave your Absentee Bid or Bid by phone if you do not wish or can not be physically present at the time of the auction. WHO CAN PARTICIPATE IN THE AUCTION ? Everyone is invited to attend and participate, because as the name implies, the auctions are public and free. Bidders must register at least 1 hour before the auction begins. We kindly ask you to present the following documentation : - Individuals: Copy of the official identification. - Legal entities: Copy of the official identification of the person authorized to offer positions on behalf of the Company, company data and authorization of the Company's Legal Representative. JP AUCTIONS reserves the right to request bank references or other guarantees from those who intend to participate as buyers WHAT IS A "LOT"? It is any of the objects (cars, memorabilia) included in the sales catalog. Each lot has a visible identification number and are cataloged. The catalog data is collected based on the information provided by the owners and the research and technical and historical advice by the consultants of the Automobile Department of the Auction House; however, regarding its accuracy, JP AUCTIONS disclaims all liability, being the veracity of the information and legal origin of the documents, sole responsibility of the seller. The information about the cars is extracted from the official documents of the same. The lots are auctioned in the physical state in which they are at the time of public exposure, so no claims will be accepted on damages, defects, vices, restorations or similar once the award has been made. In accordance with international custom, the cataloged items are sold with all their faults and imperfections including description errors, the buyers must make sure before the auction if the description agrees with their personal opinion about lots. The lots will be awarded in Mexican pesos at the maximum offer received. In case there are two or more potential buyers, with bids for the same lot and for the same amount, the lot will be awarded to the person whose bid was first presented. The lots that are included in the auction and that for some reason do not appear in the printed catalog, will be announced publicly during the exhibition and at the beginning of the auction, as well as the corrections or modifications that arise between the printing and reception of the vehicles. . All lots will be updated until the last moment on the Organizer's website: www.impulmax.com.mx When there is a conflict in the allocation of a lot between two or more bidders, the auctioneer will decide on the award or may submit it again to auction. All other bidders may apply for this new bid. What do the "estimates" that appear in the catalog mean? All lots of the printed and online catalog shows two prices: one low estimate and one high estimate. The lot can be sold below the low estimate (if the consignor has not set a minimum price or reserve price) and can be sold above the high estimate at the time of the auction. The estimates are the reference prices set by the Auction House and are established based on the market, the concurrence, the 'fashionable' effect, the prices obtained in previous auctions, the history and the characteristics of the lot. WHAT DOES THE "DEPARTURE PRICE" MEAN? It is the starting point of a bid, announced by the Auctioneer, often below the low estimate. The auctioneer will propose the lots for sale in the name and on behalf of the seller. WHAT DOES THE "RESERVE PRICE" MEAN? It is the minimum sale price agreed eventually and confidentially between the seller and the Auction House below which the good is not awarded. The reservation price is confidential. BUY IN AUCTION Any person who, in presence or absence, wishes to participate as a bidder in the auction, must register in advance for which there are different possibilities: 1. Be present in the room during the auction and offer "postures" personally (previous registration required). 2. By telephone, having previously registered (Offer Order in absence). 3. By written order of Absentee Bid 4. LIVE system: bidders can connect to www.proxibid.com and offer online positions. In any of the cases, we ask you to register for our auction at least 24 hours before. To participate physically in the auction , potential buyers must register in advance and up to 1 hour before the auction begins. When you register, you will be given a paddle number. The paddle has a number that identifies you as a bidder and that you must raise each time you wish to offer an amount greater than that announced by the auctioneer. GUARANTEE As a guarantee of payment, all participants (bidders) without exception, must leave in the Registry Table either a promissory note, a check or a bank deposit to be accepted as bidders of the auction. The paddles are delivered against the deposit under warranty. In case of default in the payment of the acquired, the bidders will lose the right to recover their guarantee. HOW TO OFFERT WITHOUT ASSISTING THE AUCTION? There are two possibilities of making offers: 1. In writing: Using the Absence Bid form indicating the lot number (s), and the maximum bid (excluding the sales commission [buyer's premium + VAT on commission]) what you want to offer The auctioneer will represent you against the other offers in the room, on the telephone and online. 2. By phone: sending the written form to roamhy@stanislasmachoir.com, or delivering it personally during the days of public exposure and up to two hours before the auction, as long as the amount exceeds 10,000 pesos per lot (excluding buyer's premium). Please ask for a confirmation of reading to ensure that we have received your offer by email. As soon as the lot goes to auction, one of our representatives will contact you, allowing you to bid directly against the offers in the room and the other orders in the absence of the auctioneer. The auctioneer will make the bids effective on behalf of the interested parties, without any charge. However, JP AUCTIONS and its agents will not be responsible for negligence or failure in the telephone communication. HOW DOES SALE WORK IN AUCTION? The exposed lots will be presented on screen during the auction as well as a currency conversion board to facilitate foreign buyers the easy tracking of bids. The lots will be presented in the order of the catalog, however, the person who directs the sale may modify, alter, withdraw, collect lots at any time, in the best interest of the sellers. When the auctioneer announces the starting price, simply lift the palette that was assigned to offer positions (bids) superior to those announced by the auctioneer. The auctioneer will continue to increase bids as long as there are people still bidding for the same batch. The last price indicated by the auctioneer when dropping the hammer becomes the "adjudication price" and the sale materializes when the latter pronounces the word 'sold'. A commission percentage (Buyer's Premium) + VAT on the commission will be added to that award price. The total is what you will pay for the purchased lot. The Commission (Buyer's Premium) is in no case negotiable. IMPORTANT: The awarding of a lot in auction supposes the irrevocable acceptance of purchase of the awarded lot and the obligation of payment within 3 days after the auction. OF THE PAYMENT BUYERS Buyers must pay, on the hammer price or award price, the Buyer's Premium of the Auction House equivalent to: Memorabilia: 18% (VAT included) Automobiles: 15% (VAT included) (*) VAT is calculated only on the commission. Example: Lot awarded memorabilia: 10 000 pesos MXN Fees 12.93% (+ 16% VAT) 1 500 pesos MXN Total payable by the buyer 11 500 pesos MXN Entered vehicle: 10,000 pesos MXN Fees 10.34% (+ 16% VAT) 1 200 pesos MXN Total payable by the buyer 11 200 pesos MXN The buyer must cover the payment of their purchases within a maximum period of three business days, from the date of the auction. Along with the invoice and documentation of the vehicle, a Certificate of Sale will be issued to the buyer, which is the document issued by the Auction House certifying that the good has been sold at a voluntary public auction. Payments can be made: - Cash. - By bank transfer to the account of the auction house. - Credit card. In case of payment by credit card or American Express, 3% of the total amount awarded will be added to your invoice. In case of payment by transfer, the bank commission costs are paid by the buyer. Once the payment is made, please send your payment receipt, proof of address and RFC card (or ID) to the email roamhy@stanislasmachoir.com LIVE AWARDS: PROXIBID.COM The auction can be followed on LIVE via the platform: PROXIBID.COM Bidders that offer electronic bids must pay 3% of the bid price for this LIVE transaction. WE ADVISE you to visualize the sale on LINE and ask us in advance to contact you by phone at the moment that the lot you are interested in will be presented to offer your postures on the phone. WHAT IS THE PROCEDURE TO FOLLOW ONCE YOU HAVE ACQUIRED A LOT? JP AUCTIONS will provide you with an invoice for the lots purchased. If the invoice is established in the name of a legal entity, please indicate it to us at the time of registration as a participant. Under no circumstances will lots be delivered during the celebration of the auction. The memorabilia lots that are settled in cash may be withdrawn immediately at the end of the auction. The lots that are settled with a credit card may be withdrawn once the amount appears in the account of the auction house. The lots paid via transfer can not be withdrawn until the payment is credited to the bank account of the Auction House. The adjudicated cars can be removed from Friday, November 24th, 2017 from 9am to 5pm and you will receive a copy of the vehicle documents for all purposes. The original documents will be delivered 7 business days after the auction. After this period (Friday, November 24th), the lots awarded that are not withdrawn, will be transported to the store of Expo Santa Fe, billing the buyer for storage costs. Storage cost per day and per lot: $ 500 pesos MXN (VAT not included) FISCAL OBLIGATIONS The new owner will be solely responsible for compliance with all tax provisions that correspond to the acquisition of a lot. JP AUCTIONS will proceed to collect the goods entrusted by the seller, however, can not be held responsible for the lack of payment by the buyer, who in case of default in the payment of their obligation will be required by all legal ways existing In case the bidder lacks the means to make his payment, JP AUCTIONS reserves the right to demand from the buyer, by all means that the law grants him and allows the collection of the awarded, in addition to the payment of: Legal Interests , the reimbursement of the additional expenses engendered by its non-compliance and the costs. JP AUCTIONS may terminate the sale without prior judicial declaration from the 15 calendar days following the auction without liability to the seller when the bidder fails to pay within that period INSURANCE, PACKAGING, TRANSPORTATION AND STORAGE The transport and transfer of the purchased lots are the exclusive responsibility of the buyer. JP AUCTIONS declines any responsibility for the degradations and damages that the lots could suffer during their transport and storage and this from the moment of the award. Once the lot is awarded, it is the exclusive responsibility of the buyer to insure the acquired goods and to provide for the transportation of the purchased goods. The lot (s) will be delivered only and exclusively to the person appearing on the invoice or to the carrier who presents a copy of the invoice and authorization of the owner. The Auction House must receive authorization by mail from the buyer: roamhy@stanislasmachoir.com The packaging, insurance and transport are at the buyer's risk. At the request of the buyer, the packing and storage service will be made and invoiced independently of the purchase invoice, and JP AUCTIONS will not be held liable for any damage that any vehicle or lot may suffer during its handling and / or transportation. The recommendations on packers and carriers that JP AUCTIONS can make will in no case be binding for the Auction House and in no case JP AUCTIONS is responsible for the errors and omissions committed by them. CIRCUMSTANCES BEYOND ONE'S CONTROL OR FORTUITOUS CASE In case of loss, deterioration or impairment of the lots for any reason, including fortuitous event or circumstances beyond one's control, this will perish for its owner. APPLICABLE LAW The operations of JP AUCTIONS, are subject to the rules of Mexican laws. In the event that discrepancies arise due to the auctioning operations between JP AUCTIONS and the seller, or the buyer, they will be subject to the jurisdiction of the Courts and Tribunals of Mexico City, waiving any other jurisdiction. LEGISLATIVE AND JURISDICTIONAL COMPETENCE Only Mexican laws governs these terms and conditions of sale. Any dispute regarding the "Terms of Sale" and these terms and conditions of sale, as to their existence, validity, validity against any seller, and their respective performance, will be decided by the competent court of Mexico City. The participation of the bidders in the CLASSIC and COMPETITION auction of November 22, 2017, means materially the acceptance of the conditions of sale of this catalog, there being no fraud, error, bad faith, vice, violence and is understood as fully accepted by the participants.