Announcements made at time of sale supersede any previous announcements. TERMS AND CONDITIONS OF SALE. These terms and conditions of sale (“sale terms”) govern all items which are offered by Equipment Marketers & Appraisers (AUCTION COMPANY) and any of its employees, agents, designees, affiliates, or partners (together with AUCTION COMPANY collectively “AUCTION COMPANY”) to a buyer (BUYER) of any machinery and equipment or personal property items offered by AUCTION COMPANY and purchased by BUYER (collectively, “purchased items”). The BUYER agrees to have read and fully understands these sales terms and conditions and agrees to be bound by these sales terms. 1. The Auctioneer will announce whether the auction is with or without reserve. The AUCTION COMPANY reserves the right to alter or amend the terms and conditions of any scheduled auction at its sole discretion. Announcements made during the sale supersede any previous announcements whether oral or written. Any persons selling or consigning items to the auction sale shall not, either in person, or by or through an agent, bid on such consigned items. 2. All persons desiring to bid shall register with the AUCTION COMPANY. Registering will consist of providing all information requested by AUCTION COMPANY and the THIRD-PARTY INTERNET SERVICE PROVIDER. All persons registering guarantee the provided information to be accurate. All registered bidders will warrant those authorized to bid on their behalf have their specific authority as a bidder. Auctioneers or AUCTION COMPANY and COMPANY and the THIRD-PARTY INTERNET SERVICE PROVIDER, reserves the right to refuse any applicant a bidding number and may revoke such privilege at any time, at its sole discretion. 3. AUCTION COMPANY will submit to BUYER an invoice stating all amounts owed. BUYER acknowledges and agrees to pay the amount owed according to terms and conditions set forth. If BUYER fails to pay the purchase price in accordance with sales terms, BUYER agrees and remains responsible for payment of the invoiced amount and AUCTION COMPANY shall have the right to commence all legal actions against BUYER for collection of the entire invoiced amount. BUYER shall also be liable for all costs and expenses incurred by AUCTION COMPANY arising out of or in connection with AUCTION COMPANY’S efforts to collect any unpaid amounts hereunder including all limitations, attorney or collection agency fees and any expenses. Not forbearance, indulgence, or delay by AUCTION COMPANY acting herein under is deemed a waiver of any rights of AUCTION COMPANY hereunder. Until AUCTION COMPANY has received payment in full of the invoiced amount AUCTION COMPANY, the owner of the property being sold if applicable, and any other documents required by AUCTION COMPANY, BUYER shall have no right to remove any of the purchase items from the sales site. All purchases must be settled in full the day of the sale and shall be removed from the premises within the time specified by the auctioneer. By bidding on items in the auction Buyer represents to AUCTION COMPANY and the THIRD-PARTY INTERNET SERVICE PROVIDER, the auction Buyer is financially solvent, and all payments issued by Buyer will be honored. A dishonored payment shall be conclusive evidence the auction Buyer is insolvent and entitles auctioneer to such remedies available under applicable laws. 4. AUCTION COMPANY and the THIRD-PARTY INTERNET SERVICE PROVIDER offers to BUYER the opportunity to place bids and potentially become the highest bidder. The opportunity to participate can be withdrawn or denied by AUCTION COMPANY and the THIRD-PARTY INTERNET SERVICE PROVIDER at any time upon AUCTION COMPANY’S and the THIRD-PARTY INTERNET SERVICE PROVIDER sole discretion. By extending the BUYER the opportunity to participate, BUYER accepts all terms and conditions set forth. BUYER acknowledges and agrees to have the ability to competently participate and place bids in an on-line auction protocol. BUYER agrees to have read and understand all terms and conditions set forth, to have the knowledge and ability to utilize on-line bidding applets and procedures. Furthermore, BUYER guarantees and conveys to AUCTION COMPANY and the THIRD-PARTY INTERNET SERVICE PROVIDER to be completely responsible for all bids submitted. Furthermore, BUYER agrees to be in complete control of BUYER’S bidding decisions and amounts procured. Furthermore, BUYER agrees to pay the invoiced amount without recourse to the AUCTION COMPANY and the THIRD-PARTY INTERNET SERVICE PROVIDER. 5. AUCTION COMPANY will charge and collect from BUYER a buyer’s premium. The buyer’s premium is nonnegotiable and is based upon the gross bids submitted from the BUYER and found on BUYER’S invoice. The buyer’s premium will be stated in the terms and conditions. BUYER acknowledges and agrees to pay the buyer’s premium as invoiced. Buyer’s premium is 10%. 6. Title transfer. Title shall pass to BUYER upon the satisfactory completion of all the following: AUCTION COMPANY receipt of full payment for the purchased items in accordance with the sale terms. The purchased items have been removed from the real property in compliance with terms and conditions set forth. All damage, if any, to the real property and to any other personal property located at the real property caused by removing the purchased items have been repaired to the satisfaction of the AUCTION COMPANY and the owner of the real property. BUYER shall not be in breach of any of the items set forth in the terms and conditions 7. BUYER agrees that its acceptance of purchased items shall constitute an acknowledgement by BUYER that the purchased items satisfy all obligations of AUCTION COMPANY and the THIRD-PARTY INTERNET SERVICE PROVIDER hereunder. BUYER may not revoke its acceptance for any reason whatsoever. 8. On-line bids require the use of technology and the World Wide Web. AUCTION COMPANY and the THIRD-PARTY INTERNET SERVICE PROVIDER does not guarantee to BUYER the complete and continuous availability of the technology or the World Wide Web being available to be used. BUYER acknowledges the technical requirements to be able to participate on on-line auction can be influenced by computer hardware, software and BUYER or BUYER’S agent’s skill to utilize technology and the bidding applet. AUCTION COMPANY and the THIRD-PARTY INTERNET SERVICE PROVIDER will be held harmless and not responsible for BUYER’S inability or experience to utilize such technology and the World Wide Web. Furthermore, BUYER will hold AUCTION COMPANY and the THIRD-PARTY INTERNET SERVICE PROVIDER harmless from all claims, suits, and damages if technical issues arise which prevent the BUYER from participating in the bidding process. 9. All goods will be put in lots and will be sold to the highest bidder for cash. The record kept by the clerk of sale together with the marked catalog of the AUCTION COMPANY and the THIRD-PARTY INTERNET SERVICE PROVIDER shall in all cases be accepted by the Buyers as final should any questions arise as to the price for which lots have been sold. AUCTION COMPANY reserves the sole right to change the order of the sale, the size of the lots, the addition or subtraction of a lot number. AUCTION COMPANY will have the sole right to determine the bidding increment. In the event of a Buyer’s dispute or tie bid, the AUCTION COMPANY has the sole right to either open the bidding for continued advancement or strike the goods sold. AUCTION COMPANY, in its sole discretion, reserves the right to refuse any bid which it considers to be insignificant advance over the preceding bid. Any errors in accounting toward Buyer’s bill will be corrected according to the actual facts. Buyer agrees to pay the amount owed. Buyer shall not be entitled to possession of any of his purchases until total purchase price of all his items have been paid in full. In the event Buyer fails to pay the full purchase price of any lot within the prescribed time or fails to comply with any terms of sale AUCTION COMPANY shall have retained a possessory lien on all lots of purchasers and at its sole discretion has the right to resell such lots by public or private sale without notice of any kind to purchaser. 10. Any printed literature given to purchasers, such as a Buyers catalog, shall only act as a guide. 11. Buyer acknowledges and agrees that all goods have been available prior to sale time and that he is purchasing all goods with all defects. DO NOT BID UNLESS YOU HAVE DETERMINED TO THE CONDITION OF THE LOT FROM YOUR OWN EXAMINATION. Buyer acknowledges sole responsibility and assumes the risk that a lot after it has been inspected might change. AUCTION COMPANY and the THIRD-PARTY INTERNET SERVICE PROVIDER will sell lot(s) as it exists at time sold, as is, where is, with no warranties whether implied or expressed. All warranties or guarantees will be between the Buyer and seller only. 12. The auction sale site shall include any location upon which a lot is located for display and or removal as well as where the actual bid calling in conducted. Auction sales sites are considered potentially dangerous places and immediately upon registration, if not before, Buyer shall so notify agents, servants, and employees and others accompanying him. 13. All claims or disputes must be settled on the day of the sale at the sale site. No claims will be allowed after the removal of goods. 14. Appropriate taxes will apply. Tax exemptions accepted if Buyer produces proper documentation of their exemptions. 15. Buyer will be responsible for complete removal of all goods purchased. Cost of removal will be the responsibility of the Buyer. 16. AUCTION COMPANY reserves the right to require proof of adequate insurance coverage from any Buyer of lots requiring dismantling, rigging, or hot cutting. 17. If Buyers or their agents cause damages to the real property of the auction sale site, Buyers will be liable for all damages. 18. In the event that the Buyer fails to remove any such lot or part thereof within said period, the AUCTION COMPANY or its designees shall have the right but shall be under no obligation to do so either in the name if the AUCTION COMPANY or other seller or the Buyer to remove, store, abandon, discard, sell or otherwise dispose of each of any part of lot bid in or purchased at the expense and risk of the Buyer without waiving any other rights that the AUCTION COMPANY and the THIRD-PARTY INTERNET SERVICE PROVIDER or other seller may have against the Buyer. 19. The Buyer shall be and shall continue to be liable for all lose, expense, and damage directly sustained by the AUCTION COMPANY or seller by reason of the failure of the Buyer to comply with the foregoing conditions. 20. Inspection date: May 14, 8:00 AM-5:00 PM or by appointment. Removal: Removal will begin as soon as all purchases are paid in full. There will be loading assistance with skid loaders or forklifts for certain items. Buyers are responsible for loading dozers, excavators, wheel loaders, compaction trucks and trailers. Items being sold on May 15th must be removed May 28th. Items sold on May 16th need to be removed May 22nd. Removal times are 7:30 AM to 6:00 PM, no loading on Sunday or Monday May 27. Buyer’s Premium: 10%. All items sold are considered used. Buyer will accept purchased items with all faults known and unknown. All items sell as is, where is, like is. No warranty or guarantees are in effect whether expressed or implied. Contact the auction company for wire transfer instructions. Payment is in the form of Cash, Approved Check or Wire Transfer. Credit cards are not accepted. Purchases and payments are in accordance with the Terms and Condition agreed upon at the time of registration. The relationship between Auction Company and Buyer is not Bailment. Non wire transfer payments can be given at the auction in Estherville, Iowa upon removal. Equipment Marketers & Appraisers 3826 Cedar Heights Drive Cedar Falls, Iowa 50613 www.equipmentmarketers.com 319 266 3578 319-415-9850 Equipment Marketers & Appraisers Cedar Falls, Iowa 319-415-9850