PRIORITY 1 AUCTIONS TERMS & CONDITION Thank you for attending today’s auction. Please read and familiarize yourself with these sheets, as you will be bidding strictly according to these terms and conditions. 1. Registration: All bidders are required to have a bidder’s number to bid the auction. Bidders must register at the auction office (clerking station) and provide name, address, phone numbers, driver’s license, signature, email address and any other information requested for identification. The bidder here acknowledges that her/she is of legal age and sound mind. Prior to signing the application for a bidding care, all Bidders and others attending the auction agree that they have read and fully understand complete “terns of Auction” and any addition terms and conditions announced on the day of the auction and agree to be bound thereby. All registered Bidders take full responsibility of their bidder numbers. Bidder numbers are nontransferable. All bids made by the holder of the number will be the responsibility of the registered Bidder. All sales are final. No refunds, reductions, returns or exchanges! No exceptions! The Auctioneers reserve the right to refuse any applicant for a bidding card or the privilege at any time. Auctioneers reserve the right to have all payments converted to valid cash before removal of any items or lot. 2. Bidding: The highest Bidder shall be the Buyer and no Bidder shall retract their bid. A buyer is deemed to have accepted an item or lot when they make their bid. A successful bid at auction constitutes a legally binding contract of sale. All sales are final. The Auctioneers reserve the right to reject any and all bids on items and lots not sold at absolute auction. The acceptable bidding increments are established and controlled by the Auctioneer. The Auctioneers reserve the right to bid on behalf of the Sellers. 3. Pooling: Pooling or bid rigging is fraud and a serious Federal Offense. The Auctioneers reserve the right to bid on behalf of the Sellers, when the Auctioneers detect or suspect pooling by two or more Bidders. Pooling will be prosecuted to the fullest extent of the law. 4. Payment: All items and lots must be paid for in full within thirty minutes after conclusion of the auction. Any invoice not paid for within thirty minutes after the auction will be subject to a twenty-five (25%) surcharge on the complete invoice upon settlement. No purchases may be removed from the auction site until said purchases are paid in full. A paid receipt must be presented to the auctioneers or representatives before removal of any item from auction site. Methods of payment are cash, cashier’s check, certified check, irrevocable purchase order, personal or company check with bank letter of guarantee and signed check security agreement, unless other arrangements have been made with auctioneers. All payment methods must be approved by the Auctioneers in their sole and absolute discretion prior to bidding. Auctioneers reserve the right to have all payments converted to valid cash before removal of any items or lots. No post dated checks will be accepted and will be treated as non-payment. Buyers agree to not “stop payment” on any checks. 5. Bidder responsibility: The bidders hereby further agrees that whether he/she shall be acting as a principal and agent, an officer, or director of a corporation or partnership, or otherwise in any capacity whatsoever, the Bidder and the Company he/she shall both be responsible for the payment of the purchase price and taxes payable with respect to any and all items and lots for which the Bidder shall be the successful bidder at the said auction. And, if the Bidder shall tender a non-certified check in payment for the whole or any part of such purchase price and taxes, all items and lots delivered by Auctioneers in reliance on such checks shall be subject to seizure by Auctioneers or their employees and agents at the sole cost and expense to the Bidder in the event that such check shall be dishonored upon presentation of payment. In the event of non-payment, dishonored, stop payment or cancelled checks for purchases as stated herein, the Auctioneer shall have a possessory lien on said unpaid purchases until such purchases are paid in full. Any lawsuit or legal action taken in connection with or arising out of the terms herein, the Auctioneers shall be entitled to recover all costs, expenses and attorney fees. 6. Late payment: Any payment accepted late shall incur a twenty-five (25%) surcharge on the full amount of the invoice. 7. Failure to pay or remove: In the event the Buyer fails to pay the whole of the purchase price, fails to remove all purchased items and lots or comply with any other conditions herein contained or agreed to, the deposit shall be forfeited to the Auctioneer and the Auctioneer shall retain a possessory lien on tall items or lots of the Buyer. Auctioneer shall have the right to sell such items and lots by public or private sale without notice of any kind to the Buyers. Any deficiency arising upon the resale together with all expenses, costs, charges, reasonable attorney fees, plus a $500.00 per idem fee per item or lot until such item or lot is/are removed, shall be paid by the Buyers. The auction deposit and any payment made by the Buyer shall be retained by the Auctioneer for application against such deficiency. The Buyer agrees that the Auctioneer and/or Seller may retain all monies received pursuant to any such resale and apply that money toward any deficiency without further notice. 8. Buyer’s Premium: A buyer’s premium is a predetermined percentage or flat fee added to the high bid price to achieve the contract sales price. The use of a buyer’s premium will not in any matter whatsoever constitute an agency relationship between the Auctioneers (their employees or agents) and the Buyer. The Auctioneers, employees and agents are agents for the Seller only. The buyer’s premium if used has been a choice of the sellers. 9. Disputes: If any dispute arises as to any bidding between two or more Bidders or as to an item or lot, etc. the Auctioneers at their sole discretion, may immediately put the disputed lot up again for auction or declare the Buyer by decision. The actions and decisions of the Auctioneer shall be binding, final and absolute. In no instance will a dispute be recognized once the item or lot has been removed from the premise. 10. Claims: No claims or returns will be allowed after the items or lots have been removed from the premise. No claim will be allowed for adjustments or rescission of any sale based upon the failure of the item or lot to correspond with any standard and/or expectation of the Buyer. 11. Non-delivery: The Auctioneer and the Seller shall in no event be liable to the Buyer for non-delivery of any item or lots for any reason whatsoever except for the return to the Buyer of the deposit or other such sums paid for such non-delivered items. This non-delivery period extends from the fall of the hammer until the time allotted for the removal process concludes. In no event with the Auctioneer’s or Seller’s liability to the Bidder exceed the amount actually paid by the Buyer. 12. Item/Lot Responsibility: Items and lots become the complete and sole responsibility of the Buyers for the care, custody and protection immediately upon the Auctioneer knocking the item or lot down, says sold, or in a customary manner changes ownership. It shall be the responsibility of the Buyers to secure their purchases immediately. The Auctioneers, employees and agents assume no responsibility for any missing or damaged items or lots and are specifically not acting as the Buyer’s security agent. 13. Absentee Bids: Any Buyer may deposit in advance with the auction staff twenty-five percent (25%) or more of the amount the Absentee Bidder intends to bid on any items or lots. A receipt will be given for the deposit. Any balance of monies owned will be due and payable within a half hour after the conclusion of the auction. If the Absentee Bidder placing the deposit does not become the successful Bidder, all deposits will be returned in a timely manner. Unless the Absentee Bidder leaves instructions to start the bid at the full amount of the left bid the Auctioneer will start the bid at fifty-percent ((50%) of the left bid. Because of the random nature of the auction bidding process, it is possible for the high bid to be by another bidder, at the same amount that was left by the Absentee Bidder. It is agreed by the Absentee Bidder that neither the Sellers, Auctioneers, employees nor representatives assume any liability or responsibility of any kind whatsoever for failure to execute bids for the Absentee Bidder for any reason whatsoever. 14. Removal: Purchases must be removed by the Bidders from the auction site on the day of the auction unless otherwise announced or agreed upon with the Sellers or Auctioneers. Removal is at the Buyer’s sole obligation, cost and rise, and only in a manner approved by the Auctioneers. The Auctioneers reserve the right to require proof of adequate insurance coverage from any buyer of items or lots requiring dismantling, rigging, hot cutting, refrigerant certification or any situation deemed necessary by the Auctioneers. Buyers agree to indemnify and save harmless both the Sellers and the Auctioneers, employees and agents, against any and all damage caused by the acts of the Buyers and/or their agents, employees, etc. in connection with the dismantling or removing of any time or lot. Buyers agree that any and all damages to the land or buildings, inside and outside, caused by them must be fixed, replaced or repaired to Auctioneer’s or Seller’s satisfaction before they are permitted to leave with their purchases. If, for any reason, the Buyers fail to remove any item or lot within the specified time, the item or lot will be deemed abandoned and the Auctioneer at his sole discretion may resell per paragraph 7 above or remove and store the items or lots at the Buyers’ sole risk and expense. The Buyer understands that they will lose any right, title or interest the Buyers may have acquired and the item or lot shall revert and repossess to the Seller or Auctioneer without any further notice to the Buyer’s In addition, Buyers will be liable for any rent incurred, labor, storage, hauling, dump fees, etc and damage suffered to the Auctioneers because of the Buyers failure to remove any item or lot. It is the Buyer’s responsibility to secure all safety equipment to meet all applicable government safety standards in using or removing any items or lots purchased. Any fluids, spills, release into the environment or contamination caused by the Buyer, their agents employees contractors, et. During the auction or removal are strictly and solely the Buyer’s expense and liability to correct, remove and cleanup. The Buyer takes full responsibility for compliance with all applicable environmental laws and exercises all reasonable care to ensure that there is no release to the environment of any hazardous Regulations, Rules or ordinances. The Buyer hereby agrees to indemnify and hold harmless the Auctioneer and Seller from any and all damages, claims or liability form any and all injuries to persons or property of any type whatsoever caused by the Buyer, their agents employees or contractors during the exhibition, auction and or removal, as to the use or operation while inspection the items or lots and as to the use or operation surrounding the removal of purchased items or lots and as to any environmental situation created by the Buyer. 15. Removal extension: On a case by case basis and at the Seller’s or Auctioneer’s discretion, the Seller or Auctioneer may grant a Buyer a removal extension with a non-refundable (per day) extension fee as set by the Seller or Auctioneer. Full payment of the extension fee must be made at least twenty-four (24) hours prior to the start of the extension. 16. Inspection: The Buyers were afforded the opportunity to inspect the items and lots prior to bidding at the auction. The Buyers are relying solely on their own investigations and inspections, and not any representations made by the Sellers, Auctioneers, their employees and agents. The Buyers hereby waive any and all further inspections. They Buyers fully agree and understand that they are purchasing each and every item and lot in an “as is”, “where is” condition, with all it goodness and faults. The Sellers, Auctioneers, their employees and agents, make no representations, guarantees or warranties of any kind, either expressed or implied statutory or otherwise of any nature whatsoever. 17. AS IS: All items and lots are sold on an “AS-IS”, “WHERE IS” and “WITH ALL FAULTS” basis “WITHOUT EXCEPTION” and with removal at the Buyer’s sole obligation, risk and expense. The Auctioneer and Seller expressly and specifically disclaim, without limitation, any warranty of merchantability or fitness for a particular purpose. No sale shall be invalidated by reason of defect or inaccuracy in any of the items or lots by reason of their being incorrectly described orally or written, invoiced or cataloged and no liability will be borne by the Auctioneers, employees and agents in respect to any such faults or errors. All marketing and information has been prepared only as a guide and is not offered as completely accurate nor does it give the Buyers all of the information on the item or lot. Except as herein contained there shall be no guarantees or warranties, expressed or implied, statutory or otherwise of any nature whatsoever. The Buyers will accept the items or lots in spite of any defects or conditions known or unknown, visible or not visible, and therefore Buyers do by their present remise, release, acquit quit claim and forever discharge the Sellers, Auctioneers, employees and agents from any and all claims now and in the future. The Buyers should avail themselves the opportunity to inspect all items and lots. All sales are final. 18. Indemnity Clause: The Bidder hereby waives releases, remises, acquits and forever discharges the Auctioneer and the seller, and their respective employees, agents or any other person acting on behalf of the Auctioneers or the Seller, of and from, and shall indemnify and hold harmless the Auctioneer and the Seller, and their respective employees, agents or other persons acting on behalf of the Auctioneer and Seller from and against any claims, actions, cause of action, demands, rights, damages, costs, expenses, or compensation whatsoever direct or indirect, known or unknown, foreseen or unforeseen, which the Bidder now has or which may arise in the future on the account of or in any way growing out of or connected with any defects, latent or otherwise, or the physical condition of any items or lots purchased or any law or regulation applicable thereto. The indemnity clause applies to the auction and/or privately negotiated sale before, during and after the auction or the privately negotiated sale, and shall survive settlement or lack thereof. 19. Information Discrepancies: While quantities and descriptions are believed to be correct, there are no warranties or guarantees, expressed or implied and the Auctioneers, employees, and agents will not be held responsible for advertising discrepancies, inaccuracies or failure of the merchandise to correspond with any standard and/or expectation. No item or lot shall be sold or deemed to be sold by description. A Buyer shall not be entitled to rely on any representations made either in writing or orally by or on behalf of the Sellers, Auctioneers, employees and agents. The description, measurements dimensions serial and machine numbers, year, model, quality, weights, value quality capability usability function performance, condition, salability or other particulars set out in the newspaper ads, auction brochures, catalogs and/or invoices, are believed to be accurate, but such information is given or is to implied as to the accuracy of such descriptions, measurements, dimensions, serial and machine numbers, year, model quantities, weights, value, quality, capability, usability, function, performance, condition, salability or other particulars or the genuineness or authenticity of any item or lot and neither Sellers nor Auctioneers, employees and agents will be responsible for any damage or loss, consequential or otherwise, arising as a result of any inaccuracy in respect thereof. Announcements the day of the auction take precedence over any advertising or pre-auction material, written or oral. 20. Environmental: The Buyers agree to indemnify and save harmless the Auctioneers and their employees, agents, successors or assigns on any and all purchases made by the Buyer, against any and all claims, injury, loss, liability, damages, demands, etc…pertaining to hazardous materials, contamination, substances, and/or condition (known or unknown) and are strictly and solely the Buyer’s ownership, responsibility and liability. 21. Titles: Title and vehicle transfers will be delivered to the Buyer upon full cash payment and within legal guidelines. A mutually agreeable time and location will be set by Sellers and Buyers to complete notary work at a licensed Notary. 22. Additions or withdrawals: The Auctioneers reserve the right before or during the auction to withdraw from the auction any of the items or lots listed or to sell at this auction items or lots not listed. Auctioneers also reserve the right to group and regroup items and lots or separate items and lot or parts of a lot as deemed necessary by the Auctioneers. The Auctioneers reserve the right to sell all of the items and lots listed in bulk or to sell any and all of the items or lots prior to the auction. All items and lots are subject to prior sale and cancellation. Auctioneer and Seller reserve the right to augment the auction with items from additional sellers. These items and lots may be interspersed and not specifically identified throughout the auction. 23. Person or property risk: Persons attending during exhibition, auction and/or removal or items and lots assume all risks of damage of or loss to person or property and specifically assume all risks by reason of any defect in or condition of the premise on which the auction is held. Auctioneers, employees, agents and/or sellers are not responsible for accidents or theft, personal or physical on the premise or in coming or going, to and from the exhibition, auction and/or removal. All persons on attendance during exhibition, auction and/or removal shall exercise property precautions at all times for the protection of persons or property and shall comply with all safety and health requirements as directed by the Auctioneers and federal state and local regulations. Buyer specifically releases Auctioneers, their agents and employees from all liability thereof. 24. Sales Tax: All applicable sales tax, according to the governing tax laws in the state where the auction is being held, will be added to the purchase price on all taxable items or lots unless the Buyer files a properly completed tax exempt form with our auction office prior to the auction 25. Records: The records (written, audio, video, digital, computer generated and etc.) of the auction kept by the Auctioneers, bookkeepers, and employees will be taken as final in the event of any dispute or claims. 26. Agency: The auctioneers and employees are acting as an agent for the Seller only and are not responsible for the acts of its principals, no liability for damages, accidents or theft. 27. Theft: Theft is a serious concern to all of us, if discovered; the individuals involved will be prosecuted to the fullest extent of the law. The Auctioneer reserves the right to inspect all vehicles, tool boxes, etc...Instances of theft will result in immediate termination of bidding and removal privileges. 28. Binding: It is agreed that the Buyer shall be bound by these terms and conditions and if there is more than one bidder, the obligations imposed by these terms and conditions shall be joint and several. If any term or condition is determined by a court to be unenforceable, the remained of the terms and conditions shall not be affected. All terms and conditions shall survive settlement or lack thereof. 29. Legal Action: Bidder agrees that any legal proceedings arising out of the auction, including any disputes or litigation, shall be brought in the State of Illinois, the jurisdiction shall be in the county of Vermilion and that Illinois law shall govern, irrespective of the location, county or state where the auction was held. FOR REAL ESTATE 1. This auction subject to sellers’ approval. Approval must be within 7 days of the date of sale. 2. The winning Bidder, immediately following his becoming the winning bidder, shall complete a purchase agreement and shall deposit the amount announced for this particular property with the Auctioneer. All deposits will be held in the Auctioneer’s escrow account until closing, at which time it will become part of the purchase price. The balance of the purchase price shall be paid at the time of closing. This deposit is non refundable except for nonperformance by the Seller. 3. Buyers will receive an abstract or title insurance policy showing titles to be good and marketable 4. Closing will be on or before 45 days after the auction at a time and place designated by the Sellers 5. All dimensions or properties given prior to and at this auction are to be considered approximate. 6. All property is being sold “AS IS” in every way. All information given is from sources believed correct but is not guaranteed. Buyers shall rely entirely on their OWN 7. When you become the winning bidder of the property, hold up your bidder number for us to record. As a winning bidder, you will have effected a legally binding contract embodying all terms and conditions herein. 8. The Auctioneer reserves the right to accept bids in any increment he feels is in the best interest of his client, the Seller 9. The Auctioneer reserves the right to reject bidding of any person whose conduct, actions, or adverse comments he feels is not in the best interest of his client, the Seller. 10. The Auctioneer reserves the right to call a recess at any time during the auction for the purpose of privately talking to the Bidder(s) or the Seller(s) Priority 1 Auctions 3021 Georgetown Rd Westville, IL 61883 217-267-9995 www.priority1auction.com lipa.enterprises@gmail.com

 

 

 

 

 

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