*All Items Subject to Seller`s Acceptance of Online Bids.* 

TERMS OF SALE 

NOTICE: All Bidders and other persons attending this sale agree that they have read and have full knowledge of these terms and agree to be bound thereby. 

1. IDENTIFICATION: All purchasers are required to give full name and address. Bidder’s paddles are nontransferable. All bids made by the holder of the paddle will be the responsibility of the registered bidder. A successful bid at auction constitutes a legally binding contract of sale. All sales are final! No refunds, returns, credits or exchanges! NO EXCEPTIONS!
2. DEPOSIT: Each purchaser will be required to make a deposit in cash, wire transfer or by certified check of 25 percent of the bid on each lot purchased or provide a bank letter addresses to NATIONAL MACHINERY EXCHANGE confirming the purchaser has available funds to complete transaction. In default of such deposit or bank letter, the lot may be put up again immediately and resold or the purchaser will not be approved to bid.
3. ANNOUNCEMENTS: Any and all announcements made by the Auctioneer on the day of the auction sale shall supersede any other written or oral information previously distributed.
4. INSPECTION: The Auctioneer and seller encourage all bidders to avail themselves of the opportunity to make inspections prior to bidding and/or purchasing. The undersigned hereby acknowledges that it has inspected or voluntarily waived said inspection of all of the items upon which it will be bidding and/or does purchase. Auction sales are subject to cancellation and items are subject to prior sale.
5. TIME OF PAYMENT: All bills must be paid in full on Wednesday, July 30th, 2014  
6. REMOVAL: All purchases must be removed no later than August 25th, 2014. No lot can, on any account, be removed during the sale. Removal shall be at the expense, risk and liability of the purchaser. Purchases will be delivered only on presentation of paid bill. The Auctioneer shall not be responsible for goods not removed within the time allowed, but shall have the option to remove and store at the expense and risk of the purchaser any article purchased, but not paid for and removal of any of the goods. All electrical disconnect, rigging, loading, removing, broom cleaning, trash & debris removal and transportation are the sole and absolute responsibility of the purchasers. The undersigned agrees to remove its purchases in full, with no abandonment privileges, from the premises on or before August 25th, 2014. NO EXTENSIONS WILL BE GRANTED. ALL REMOVAL MUST BE BY APPOINTMENT. AUTHORIZED RIGGERS AND CONTRACTORS ONLY. NO SOLICITING. Should any pits, floor bolts or hazards of any type exist after removal of equipment, it is the responsibility of the purchaser, at its cost, to guard these areas using generally accepted safety practices, such as safety tapes, pipes or bars welded in place or suitable safety barriers acceptable to the Auctioneer. All floor bolts and/or anchoring fasteners are to be cut flush to the floor and the area left broom clean and all debris removed. It is the responsibility of the undersigned to be sure that the power to the item(s) is off and then to safely disconnect all electrical wiring and utility piping from the item(s) and to cap at the first electrical or air junction of the item(s). It is the purchaser’s responsibility to secure all safety equipment to meet all applicable government safety standards in using or removing any items purchased. Certain items may contain residual chemicals and/or hazardous materials. The purchaser hereby agrees to indemnify and hold harmless the Auctioneer and seller from any and all damages, claims or liabilities from any injuries to persons or property of any type whatsoever caused by the purchaser, its agents, employees or contractors during the sale or during the removal, use or operation of the purchased item(s). Any hydraulic fluid removal and/or oil leaks are the purchaser’s responsibility to remove and clean up. The purchaser must take full responsibility for compliance with applicable environmental laws and exercise all reasonable care to ensure that there is no release to the environment of any hazardous wastes or substances as defined in applicable Federal, State and Local Statues, Regulations, Rules or Ordinances. No trucks are to be left running in an enclosed building. The Auctioneer, the Seller and the Landlord are not responsible or liable for personal belongings left on premises. Any surface or structural damage to the premises including but not limited to the walls, ceilings, floors, overhead doors, gates and/or any other item(s), etc. will be the purchaser’s sole responsibility. The purchaser, its employees or its contractors will not be permitted to leave with its purchases until repairs are made.
   Theft will not be tolerated and Auctioneer reserves the right to inspect all trucks, toolboxes and rigger cases, etc. Instances of theft will result in immediate termination of removal privileges and full prosecution by law. All quantities must be checked prior to removal, as adjustments will not be made thereafter. Item(s) are to be staged for loading in the area assigned by the Auctioneer`s personnel
7. INSURANCE: The purchasers and/or its rigging subcontractor must present the Auctioneers personnel with a valid commercial general liability insurance certificate in a minimum amount of $1,000,000.00 combined single limit per occurrence coverage naming the Auctioneer, the Seller and the Landlord as additional insured. If available, bridge cranes and hoist may be used only by the undersigned if crane insurance is included on their certificate and only with the written permission of the crane owner. In addition, the undersigned must provide the Auctioneer proof of workers compensation insurance.
   MANNER OF PAYMENT: All checks/wire transfers for deposits and balances due shall be payable to the order of NATIONAL MACHINERY EXCHANGE, INC. All bills must be paid to representatives of the auctioneer at the plant unless otherwise announced. The full purchase price on all lots to the same buyer must be paid within the time fixed and before removal of any of the goods.
8. CONDITIONS OF ARTICLES SOLD: The Auctioneer shall not be responsible for the correct description, genuineness, authenticity of, or defect in any lot, and makes no warranty in connection therewith. No sale shall be set aside nor allowance made on account of any incorrectness, error in cataloging, or any imperfection not noted. NO DEDUCTION ALLOWED ON DAMAGED ARTICLES, ALL ARTICLES BEING EXPOSED FOR PUBLIC EXHIBITION, AND SOLD “AS IS” AND WITHOUT RECOURSE.  AND ALL EXPRESS AND IMPLIED WARRANTIES ARE HEREBY DISCLAIMED INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR ANY PARTICULAR PURPOSE, AND NO CLAIM MAY BE MADE BY PURCHASER RELATING TO THE CONDITION OR USE OF ARTICLES PURCHASED, OR FOR PROXIMATE OR CONSEQUENTIAL DAMAGES ARISING THEREFROM.
9. SAFETY DEVICES: Articles purchased may not incorporate approved activating mechanisms, operating safety devices or safety guards, as required by OSHA or otherwise. It is purchaser’s responsibility that articles purchased be so equipped and safeguarded to meet OSHA and any other requirements before placing such articles into operation.
10. INDEMNIFICATION: Purchaser agrees to indemnify and hold the Auctioneer, Seller and Landlord harmless from and against all claims and liabilities relating to the condition or use of the articles purchased or failure of user to follow instructions, warnings or recommendations of the manufacturer, or to comply with federal, state and local laws applicable to such articles, including OSHA requirements, or for proximate or consequential damages, costs or legal expenses arising therefrom.
11. CLAIMS: No claims will be allowed after removal of goods from premises.
12. RESPONSIBILITY FOR NON-DELIVERY: Neither the Auctioneer nor the Seller shall, in any event, be liable for non-delivery of for any other matter or thing, to any purchaser of any lot, other than for the return to the purchaser of the deposit or sum paid on said lot, should the purchaser be entitled thereto.
13. COMPLIANCE WITH TERMS OF SALE: In default of payment of bills in full within the time therein specified, the auctioneer in addition to all other remedies allowed by law, may retain all monies received as deposit or otherwise, as liquidated damages. Lots not paid for and removed within the time allowed herein shall be considered abandoned by the purchaser and may be resold at public or private sale without further notice, and any deficiency, together with all expenses and charges of re-sale, will be charged to the defaulting purchaser.
14. RISK TO PERSON AND PROPERTY: Persons attending during exhibition, sale or removal of goods assume all risks of damage of or loss to person and property and specifically release the auctioneer, the Seller and the Landlord from liability herefore. The Auctioneer, the Seller and the Landlord shall not be liable by reason of any defect in or condition of the premises on which the sale is held.
15. ADDITION TO OR WITHDRAWAL FROM SALE: The auctioneer reserves the right to withdraw from sale any of the property listed or to sell at this sale property not listed, and also reserves the right to group one or more lots into one or more selling lots or to subdivide into two or more selling lots. Whenever the best interest of the seller will be served, the auctioneer reserves the right to sell all the 
    property listed, in bulk.
16. SALE BY ESTIMATED WEIGHT, COUNT OR MEASURE: Where items are sold by estimated weight, count or measure, the purchaser will be billed for and required to pay for the estimated weight, count or measure. If, upon delivery, any shortage exists, the purchaser will receive a refund at the rate of purchase. If there be an excess, the purchaser will be required to take and pay for such excess, at the rate of purchase.
17. DISPUTE BETWEEN BIDDERS: If any dispute arises between two or more bidders, the auctioneer may decide the same or put the lot up for sale again at once, and resell to the highest bidder. The auctioneer’s decision shall be final and absolute.
18. RESERVE: The auctioneer reserves the right to reject any and all bids. On lots upon which there is a reserve, the auctioneer shall have the right to bid on behalf of the Seller.
19. RECORDS: The record of sale kept by the auctioneer and bookkeeper will be taken as final in the event of any dispute.
20. AGENCY: The auctioneer is acting as agent only and is not responsible for the acts of its principals.
21. SALES TAX: Purchaser shall also pay all applicable sales or use taxes imposed by all taxing authorities on such transaction unless purchaser shall present a resale certificate, certificate of exemption or the like, exempting the purchaser and auctioneer from the payment of any such sales and use taxes.
22. BANKRUPTCY: If at any time prior to payment in full, purchaser files a petition in bankruptcy or for other similar protection from creditors, or an involuntary petition in bankruptcy or other similar proceeding is filed against purchaser, then, at the option of the auctioneer, the sale may be voided.
23. ADDITIONAL TERMS AND CONDITIONS: The auctioneer may add other terms and conditions of sale, such additional terms and conditions to be announced prior to the auction. 18% Buyers Premium Will Apply on all Purchases.