Auction Terms & Conditions AUCTION TERMS 1. REGISTRATION: Bids will be accepted from registered bidders only. You MUST REGISTER at cowley1.com PRIOR TO BIDDING online. There is a one time $1.00 credit card registration/verification fee which allows access to the Auction Platform (AUCTION FLEX). Pre-paid Credit Cards are Not Accepted. A drivers License is required for registration if bidding Live, onsite. 2. AUCTION SALE: All items will be SOLD TO THE HIGHEST BIDDER(S) REGARDLESS OF PRICE. All bidders are responsible to independently verify the age, functionality, model, description, opearbility and condition of all items,and should inspect items before bidding. Individual appointments will be considered at the option of the Auction Company. Each item is offered and sold is its' "AS IS CONDITION" with any and all faults, in its condition at time of sale without recourse by way of refund, reduction of the purchase price, or otherwise. Bidders should perform such independent investigation and evaluation with respect to the items they wish to bid on, as they deem necessary or appropriate. ALL SALES ARE FINAL. 3. AGENCY: THE AUCTION COMPANY AND ITS REPRESENTATIVES REPRESENT THE SELLER ONLY. 4. ANNOUNCEMENTS: Announcements on day of sale take precedence over all prior releases, verbal and written, concerning the auction sale. 5. BIDDING: PRE-SET Bid Increments for this Auction will be as follows: BIDS UP TO: INCREMENTS: $ 100.00 $ 10.00 $ 500.00 $ 20.00 $ 1,000.00 $ 50.00 $ 5,000.00 $ 100.00 Over $ 150.00 This is a Live Webcast Auction. The, onsite bidders, will be bidding against online bidders. The pace of the auction will be determined by the Auctioneer. 6. BUYER'S PREMIUM & SALES TAX: A BUYER PREMIUM of 10.00% will be charged on all items purchased. The BUYER'S PREMIUM will be added to the high bid to determine the final sale price. 7. PAYMENT: All items must be paid in full within 24 hours of the day of sale by wire transfer, credit card, cashiers check or pre-approved personal or business check made payable to Cowley Auction Company. Buyers will be provided a bill of sale. Any returned checks, including those for insufficient funds, will subject to a fee of $50.00 and buyer/bidder will be responsible for any additional bank fees incurred to recoup the amount owed. If paying with a credit card, total purchase amount is subject to a 3.75% processing/clearing charge. If paying by check, funds must clear auctioneer account prior to removal of merchandise from site. No exceptions, no arguments. ANY CHECKS ARE TO BE MADE PAYABLE TO: COWLEY AUCTION CO. ONLINE BIDDERS: UNLESS PRIOR ARRANGEMENTS ARE MADE FOR PAYMENT, THE CREDIT CARD YOU REGISTERED WITH WILL BE CHARGED. 8. REMOVAL OF ITEMS PURCHASED Purchased items shall be considered the property of the successful bidder at time of the sale. The auction company DOES NOT provide equipment or labor to remove items purchased. Please arrive prepared to move items. Property may be removed, WITH EVIDENCE OF PAID RECEIPT,on the following dates & times:September 8, following the auction. September 9 from 9:00am to 3:00pm. Please schedule all other pick ups with the Auction Company. After September 9, pick-up will be by appointment only and will require a $50.00 appointment fee. Items not picked up within 7 days will be resold and no refund will be returned to customer. Pre-approved personal or business checks must clear before pick-up can take place. If the Auction Company helps move items, All help is paid by the buyer at a rate of $50/hour. Should the items need to be moved to a storage area, the buyer pays all moving costs and storage rental fees. All items in this auction are still hooked up and on place and have not been moved since the restaurant closed. UTILITIES ARE ON! AN INSURANCE BINDER WILL BE REQUIRED FROM THE PERSON/COMPANY REMOVING THE ITEMS. PLEASE FIND SOMEONE QUALIFIED AND AVAILABLE FOR REMOVAL PRIOR TO BIDDING. If applicable, items will have to be disconected or dismantled. The auction company will not assist in removal. 9. INVENTORY LIST: The auction company will have an inventory of all items being offered . The inventory list will be available at www.cowley1.com. CHECK BACK FREQUENTLY FOR ADDITIONS TO INVENTORY, UPDATED PHOTOS AND ITEM SPECIFIC INFORMATION. The Auction Company will do its' best to photograph and describe the items being offered. 10. ASSUMPTION OF RISK: Bidders entering upon the Property for the purpose of inspection or item removal, shall do so at their own risk. Auction company and seller assume no risk for bodily injury or damage to personal property. 11. WEBSITE: Visit cowley1.com for additional photos and other information. 12. GENERAL: The information contained here is subject to verification by all parties viewing it. No liability for its accuracy or any errors or omissions is assumed by Seller or the Auction Company.