SPECIAL TERMS & CONDITIONS OF SALE

Relating to Sale by Public Online Auction

On the instructions of Retained Clients, Insolvency Practitioners and

Finance Companies

Prospective purchasers should register 24 hours before the start of the sale and no later than two hours prior to the finish of the auction.

IMPORTANT NOTICE

The equipment listed in this catalogue may not, in every case, comprise of complete equipment of the type described. Intending purchasers must satisfy themselves as to the extent to which any Lot is deficient of component parts. See Clause 7 of Conditions of Sale.

LOCATION

Langar Auction Centre, Langar Airfield, Harby Road, Langar, Nottinghamshire, NG13 9HY.

Lot Nos. 1, 2, 3, 8, 9 & 10 are situated at various other sites (see lot details for location) and can be viewed by appointment with Asset Appraisals.

VIEWING OF SALE

Viewing will take place on site at Langar Auction Centre on Tuesday 29th June 2010 opening at 10.00am and closing at 3.00pm, the closing time will be strictly adhered to. Prospective bidders should view and mark their catalogue as no lots will be accessible at the point of sale and are purchased as seen.

All persons entering the site will be required to register their details confirming they agree to the terms and conditions detailed in the catalogue and on site.

For help with questions relating to online bidding and information regarding individual lots, please contact Asset Appraisals on 0115 947 3511

PARKING

Please note that parking is restricted on site. Vehicles park at owner’s risk. Follow signs for car park.

RESERVES

Where appropriate and at the Auctioneers discretion, lots may be subject to reserve.

REGISTRATION

All bidders must register 24 hours before the sale with www.bidspotter.co.uk

BIDDING

Bidding starts on bidspotter.co.uk

• Sale starts online 10.00am Tuesday 29th June 2010

• Sale closes 4.00pm Wednesday 7th July 2010

For new bidders please follow the user friendly link to www.bidspotter.co.uk “New Bidder” The auction will start to close from the time stated in the auction catalogue. Where a bid is placed in the last minute prior to a lot closing, the time will be extended by 10 minutes to allow further bidding to take place. This will not affect the closing time of any following lots assuming no further bids are placed within the last minute those subsequent lots. Asset Appraisals or their agents, reserve the right to cancel, block or remove any bid/bidder from the sale, if the bidders has registered before and not complied with any of the terms and conditions of sale. By making a bid on any lot, the bidder agrees to purchase the lot at the bid price. Once a bid has been placed, it cannot be withdrawn or cancelled.

BUYER`S PREMIUM

A Buyer’s Premium of 15% (except Lots 1, 2 & 3 which are 5%) will be added to all successful bids to which VAT will be added at the applicable rate.

VALUE ADDED TAX

All lots will be sold exclusive of Value Added Tax which will be added to the purchaser’s sale accounts at the standard rate. Private motor vehicles are excluded from VAT.

NON UK BUYERS

On registration overseas buyers must provide:

Full Bank details

Passport details

Driving License

NON EU PURCHASERS

VAT will be repaid upon receipt of a copy of the Bill of Lading, or other official documentation, to prove that the goods have been exported.

EU MEMBER PURCHASER

The VAT element will be repaid upon receipt from the buyer of a copy of official company letterhead incorporating their VAT number. In the event that claimants do not comply with the above terms, the VAT element will be transferred to the Seller in accordance with our standard VAT procedures.

CONDITIONS OF SALE

The sale is subject to the General Conditions of Sale as attached below.

TRANSFERS

Asset Appraisals LLP will not, under any circumstances, recognise the sale of lots to a third party, we will only accept payment from and permit removal of lots purchased by the declared buyer successfully bidding at the sale or their appointed agent.

PURCHASE OF GOODS THROUGH A FINANCE COMPANY

We draw your attention to the buyers contemplating purchasing goods through a finance company that arrangements should be made well in advance of the sale so they may make payment in accordance with the Conditions of Sale.

NOTIFICATION OF SUCCESSFUL PURCHASE

Successful bidders will be invoiced within 24 hours, by email. It is the bidder’s responsibility to check emails for notification of success. Under bidders may be contacted if the highest bidder defaults on payment.

PAYMENT DEADLINE 3.00pm Friday 9th July 2010

In order for the immediate clearance of goods purchasers are advised to have in place payment/banking facilities in advance of the close of the sale. We reserve the right to withdraw any lots if the payment deadline is not strictly adhered to.

PAYMENT

To make payment please ensure that you have sufficient funds in your account when making this payment. Lots purchased may only be removed upon receipt by the Auctioneer of cleared funds by one of the methods detailed below:-

CASH

Cash maximum of £1,000.00 per lot.

BANKERS DRAFTS

Payable to Asset Appraisals LLP Client Account.

TELEGRAPHIC BANK TRANSFER

Telegraphic Bank Transfer to allow for quick collection of lots, all payments must be made in UK Sterling.

Our Bank details:-

Lloyds TSB Bank plc, Old Market Square, Nottingham NG16FD UK

Account Name: Asset Appraisals LLP Client Call Account

Sort Code: 30-96-18

Account Number: 01021808

Swift Code: LOYDGB21069

IBAN: GB84LOYD30961801021808

WE DO NOT ACCEPT CREDIT OR DEBIT CARD PAYMENT

CHEQUES

Cheques will only be accepted if accompanied by an original letter from your banker`s addressed to Asset Appraisals LLP quoting:

• Specific sale

• Buyers name, address and account details

• The amount your bank will honour for cheques in total

• Direct telephone number of the bank contact

REMOVAL DEADLINE 2.00pm Friday 16th July 2010

All lots to be removed from Langar Auction Centre by 2.00 pm Friday 16th July 2010, opening at 10.00am and closing at 2.00pm, the closing date and times will be strictly adhered to. Any lot not removed by this deadline will be charged a storage fee of £20.00 per day.

REMOVAL OF LOTS

• No lots will be released without the presentation of the purchase invoice and release note.

• Any person or persons seen to be acting in a manner which may endanger themselves or others, will be asked to stop and leave the site immediately. It is the buyer’s responsibility to ensure that arrangements have been made for the removal of all Lots purchased.

• Removal of lots to be undertaken by the purchaser;

• Only assets with lot tickets are offered for sale;

• Any purchaser seen to be damaging the premises or fabric of the buildings will be immediately asked to leave the premises.

Asset Appraisals, their agents and porters are on site to supervise and control removals, not assist in the handling or loading of lots. Insurance cover is not in place for Asset Appraisals to undertake handling.