Clean Up Auction - SIP Panels - Building Materials

AGREEMENT BETWEEN BIDDER AND AUCTIONEER

READ CAREFULLY AND COMPLETELY AS ALL AUCTIONS ARE DIFFERENT

These are the Terms and Conditions of Sale for this online auction. They consist of this introduction and nineteen numbered paragraphs that outline the relationship between you ("the Bidder") and Chisum USA, LLC dba Chisum Realty & Auction ("Auctioneer"). If you want to bid in this online auction, you will first have to certify that you have read, understood, and agreed to these Terms and Conditions. Such certification will function as your legal and binding electronic signature. If you choose to make this certification, these Terms and Conditions will become binding both on you and on the Auctioneer, and all parties will be expected to abide by the Terms and Conditions if any issues arise in connection with this sale.

1. This is a Public Auction. By registering to bid in this auction, you acknowledge and agree to these terms and conditions. Lots begin closing in numerical order at 3:00 PM CST on Thursday, September 6, 2018 and will close one lot every 30 seconds with extended bidding ("Soft Close") in effect. Bidders must provide a valid credit card to register to bid online. BY APPOINTMENT ONLY, 10am-4pm excluding Saturday, Sunday, and legal holidays.

2. Payment will be processed immediately after the last lot is sold with the credit card buyer submitted at registration, unless buyer has made alternate payment arrangements PRIOR TO THE END OF THE AUCTION by contacting Auctioneer at (855) 435-1492 or email: info@ChisumUSA.com. If a credit card charge is declined by the processing company, you will be contacted by Chisum to make other arrangements. At Chisum's sole discretion, accepted methods of payment are cash; cashier's check; wire transfer; VISA; MasterCard; AMEX; Discover; and, checks accompanied by bank letter of guarantee. Once payments have been processed, an email confirmation and paid Invoice will be emailed to buyer confirming process of payment. If buyer cannot be reached by cell phone within 24 hours post-auction, Auctioneer reserves the right to resell the items without notice. No items may be removed until payment is made in full. BRING YOUR PAID RECEIPT WITH YOU TO PICK-UP YOUR PURCHASES.

Invoices exceeding $5,000 must be paid by wire transfer, cashier's check, or bank ACH transfer only. Buyers should be available post-auction by cell phone (or other phone number provided at registration). Payment must be received 24 hours post-auction unless alternate payment arrangements have been approved by Auctioneer. A paid Invoice will be required to remove purchases.

3. Buyer's Premium: A 10% Buyer's Premium will be added to each item purchased.

4. Texas Sales tax will be charged unless the buyer has provided a signed Sales Tax Resale Certificate or Exemption Certificate for this auction. Prospective buyers MUST fax or email their signed resale form PRIOR TO THE END OF THIS AUCTION to (855) 435-1492 or info@ChisumUSA.com. NOTE: Texas Law requires the sales tax to be collected on the total price which includes the Buyer's Premium. Buyer is responsible for paying sales tax on titled vehicles and trailers when they are transferred.

5. Removal: BY APPOINTMENT ONLY, thru FRIDAY, SEPTEMBER 21, 2018 from 9am-4pm excluding Saturday, Sunday, and legal holidays. Seller will provide forklift, operator and limited labor to assist removal on scheduled days only. ANYTHING REMAINING AFTER REMOVAL TIME WILL BE CONSIDERED ABANDONED UNLESS BUYER HAS MADE PRIOR ARRANGEMENTS WITH AUCTIONEER, AT AUCTIONEER'S SOLE DISCRETION. The Auctioneer is not obligated to issue a refund if you are unable to pick up and remove your items during the published removal times. Bring any packing and moving equipment (dollies, boxes, etc.) and personnel that you deem necessary for removal. AUCTIONEER DOES NOT OFFER SHIPPING. BRING YOUR PAID RECEIPT FOR REMOVAL.

6. Everything is sold "As-Is": All items in the auction are being sold, "as is, where is" without warranties or guarantees of any type and with all faults. AUCTIONEER AND SELLER EXPRESSLY DISCLAIM AND EXCLUDE THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. Bidders should rely solely on their own inspection of all items prior to the sale and should satisfy themselves as to the usefulness and value of each item. Any statement or count in the description regarding the items to be sold should be considered a limited guide only. Any error in description does not relieve the buyer or his/her agent of their responsibilities to inspect. There are NO REFUNDS OR RETURNS.

7. Bidder's Duty to Inspect and Investigate: Bidders acknowledge that the Auctioneer is providing you with the opportunity to inspect the items being offered for sale in this auction. The Auctioneer strongly encourages you to attend inspection/preview times, which will need to be scheduled with the Auction Manager in advance. If you choose not to attend the scheduled inspection/previews or are in doubt about the condition, completeness, count or suitability of a given item, please bid accordingly.

8. Choose Wisely: We want everyone to get a good deal and most will. However, when you bid on the wrong item or decide an item is not suited for your intended use, our sellers will not assume the cost of your mistakes. You agree that your failure to inspect or otherwise become fully informed about the items offered for sale in this auction will not be grounds for a refusal to pay amounts due, nor for any claim against the Auctioneer.

9. Buyer is Responsible: Seller, Auctioneer and Buyer expressly agree that Buyer is responsible for and agrees to indemnify Seller, Auctioneer and their respective affiliates for any and all damages (whether based on contract, tort, warranty, negligence, strict liability or any other legal theory, and including special, incidental and consequential damages), losses, expenses, attorneys' fees, court costs, etc., that arise out of or result from the removal, possession or use of any items purchased at this auction, or any other claim regarding the use or possession of any item purchased at this auction.

10. Charge-backs Prohibited: You agree that you will accept all charges placed on the credit card associated with your account, and you agree that you will not charge back any amount that the Auctioneer charges to your credit card. You agree that this provision applies equally to amounts charged in connection with any items you have won and any Buyer's Premium or sales tax applicable.

11. Default and Resale: Bidder agrees that if, after being declared the winning bidder, you fail to pay for any item that you have won for any reason, your account will be declared in default. If you still fail to pay for any item after being notified of your account's being in default, you agree that the Auctioneer will have the right to immediately resell your item, and you further agree to pay (a) any cost associated with the resale and (b) any deficiency between your original purchase price and the resale price.

12. Disposal of Unclaimed Items: In the event you refuse to pay for or abandon any item that you win at auction, the Auctioneer will have the option of reselling, removing, storing, or disposing of the unpaid-for or abandoned item. You understand and agree that you will be personally responsible for all deficiencies - and all legal, collection, transportation, and storage expenses - associated with your delinquent account and/or abandoned items. In the event of resale, you agree to pay any cost associated with the resale as well as any deficiency between your original purchase price and the resale price.

13. Suspension of Bidding Privileges: You understand and agree that any violation of these Terms and Conditions - and/or any unsafe or illegal activity during any auction-related event - may result in the Auctioneer's suspending your online bidding privileges indefinitely. Nothing in this paragraph will limit the Auctioneer's right to any other remedies at law or in equity.

14. Internet Problems: Auctioneer and Seller are not responsible for any internet connection problems that may occur during the auction. Bidders should understand that sometimes internet connection or delay problems do occur. Auction lots will not be re-sold or brought back up for bidding because of internet problems. If you have issues with placing bids, please contact HiBid Customer Service directly (352) 414-1947.

15. Missing Items: In the event an item sold in the auction is found missing prior to removal, the Auctioneer/Seller will only be responsible for the refund of the purchase price, buyer's premium and any sales tax. Buyer agrees that the only compensation due them will be the refund of actual money paid.

16. Claims and Choice of Venue: Any claim or controversy arising out of or relating to these Terms and Conditions, or to any breach thereof, will be resolved exclusively by a state court having jurisdiction in Lamar County, Texas, or in the Federal District Court for the Eastern District of Texas, where federal jurisdiction exists. Each party hereby submits to the jurisdiction and venue of such courts. You agree that all claims instituted by you will be litigated on an individual basis and will not be consolidated with any claim made by another party. You agree that any judgments awarded may be applied to and collected from you personally or corporately. Should you file an action contrary to this paragraph, the defending parties may recover reasonable legal fees and costs. Further, if you bring a claim against the Auctioneer and do not prevail, and/or if the Auctioneer takes action against you as a result of your violation of these terms and conditions and is the prevailing party, you agree that you will reimburse the Auctioneer for all reasonable legal fees and costs including reasonable attorney's fees.

17. Governing Law & Venue: These Terms and Conditions will be governed by and construed under the laws of the State of Texas. Venue will be Paris, TX.

18. The Auctioneer of record is Matthew C. Armstrong, TDLR #17082. Any complaints may be reported to the Texas Department of Licensing and Regulation, P.O. Box 12157, Austin, TX 78711 Telephone: (512) 463-6599, www.tdlr.texas.gov.

19. Entire Agreement: These Terms and Conditions contain our entire agreement and supersede any prior oral or written agreements relating to the same subject matter. For questions, please contact auction office: (855) 435-1492 or Info@ChisumUSA.com

Name: SUPERIOR SWITCH CLEAN UP AUCTION - SIP Panels - Building Materials Auctioneer Chisum USA, LLC Type; Online-Only Auction Date(s); TUE 8/28/2018 8:00 PM CST - THU 9/6/2018 3:00 PM CST Preview Date/Time; By Appointment - Fred Unruh - 903.782.8786 Checkout Date/Time; By Appointment - Fred Unruh - 903.782.8786 Location; Old Superior Switch Warehouse ACROSS highway from 2730 NW Loop 286 Paris, TX 75460 Buyer's Premium; 10% Buyers Premium Description; CLEAN UP AUCTION - SIP Panels - Building Materials Bidding Starts: TUE 8/28/18 3:00 PM CST Bidding Ends: THU 9/6/18 3:00 PM CST Lots begin closing in numerical order at 3:00 PM CST and will close one lot every 30 seconds with extended bidding ("Soft Close") in effect. Registration: Bidders must provide a valid credit card to register to bid online. Inspection/Preview: BY APPOINTMENT ONLY, 10am-4pm excluding Saturday, Sunday, and legal holidays. Removal: ALL ITEMS MUST BE REMOVED BY FRI 9/21 *** NO EXCEPTIONS *** THIS IS THE LAST AUCTION *** Questions: Auction Manager, Fred Unruh - (903) 782-8786.