ULMER AUCTION SERVICE

TERMS & CONDITIONS

By registering to bid, placing a bid, or participating in any Ulmer Auction Service (“Ulmer Auction”) auction, you acknowledge that you are entering into a legal and binding contract. You agree to be bound by all terms and conditions listed herein and acknowledge receipt of all explanations and information made available by Ulmer Auction Service.

By entering into this Agreement, Purchaser certifies that they are at least 18 years of age, legally competent, and under no legal limitation restricting their ability to enter a binding contract.

IF YOU DO NOT HAVE THE MONEY, DO NOT BID.

Bids CANNOT be cancelled or retracted for any reason. Once a bid is placed, it is final and legally binding.

ACCEPTANCE OF TERMS

Purchaser’s registration as a bidder constitutes acceptance of all terms and conditions of this Agreement. Ulmer Auction Service is under no obligation to notify Purchaser of acceptance for these terms to be binding.

BUYER’S PREMIUM

A 6% Buyer’s Premium, capped at $1,475, will be applied to all online purchases. The buyer's premium is added to the gavel price for each item purchased.

PAYMENT TERMS

All payments must be made in U.S. Dollars.

Payment in full is due within five (5) days of the sale unless otherwise stated in writing by Ulmer Auction Service.

No items will be released until full payment has been received and cleared.

Acceptable Forms of Payment

·        Cash

·        Wire Transfer — $35 wire fee

·        ACH — $5 fee (Up to $25,000)

·        Credit Card — 3.5% service fee applies to total purchase (Visa, Mastercard, Discover, American Express)

·        Cashier’s Check must be hand-delivered to the Ulmer Auction office that held the auction. Mailed cashier’s checks will not be accepted unless approved in writing by an Ulmer Auction representative.

·        Personal or Company Check (hand-delivered to the Ulmer Auction office that held the auction). Checks may NOT be mailed unless prior written approval is received from an Ulmer Auction representative. Personal or company checks require a bank letter of guarantee

All NSF checks will incur a $90 fee.

BUYER DEFAULT / COLLECTION

Failure to make payment within the stated time constitutes buyer default.

In the event of default, Ulmer Auction Service reserves the right to:

·        Cancel the sale

·        Resell the item(s)

·        Recover all losses, including resale deficiencies

Buyer agrees to be responsible for all costs of collection, including but not limited to:

·        Attorney fees

·        Court costs

·        Collection agency fees

Buyer agrees that venue for any legal action may be brought in a jurisdiction chosen by Ulmer Auction Service, and waives the right to a jury trial, to the fullest extent permitted by law.

SALES TAX

All applicable state and local sales tax laws apply based on the item location, seller location, and type of equipment.

Sales tax will only be removed from an invoice after valid exemption documentation has been submitted, reviewed, and approved.

No item will be released until tax is paid or exemption is validated.

ABANDONMENT & FORFEITURE POLICY

All purchased items must be removed within sixty (60) days from the auction date.

Failure to remove items within 60 days shall result in forfeiture of ownership, unless written communication is maintained with the seller or Ulmer Auction Service documenting approved arrangements.

If forfeited, Ulmer Auction Service or Customer may:

·        Resell the item(s)

·        Scrap or dispose of the item(s)

·        Retain proceeds to cover expenses

TITLED ITEMS

A $35 title processing fee will be charged on all titled items.

Ulmer Auction Service acts as the buyer’s agent for receiving, processing, and forwarding titles.

Titles will generally be processed and mailed between fourteen (14) and thirty (30) days after full payment has cleared, subject to receipt of transferable title documents from Seller and any applicable governmental processing requirements.

Ulmer Auction Service is not responsible for lost or delayed titles once mailed.

NO WARRANTIES – ALL SALES FINAL – SOLD “AS IS, WHERE IS”

ALL ITEMS ARE SOLD “AS IS, WHERE IS,” WITH ALL FAULTS AND DEFECTS, WHETHER KNOWN OR UNKNOWN.

Ulmer Auction Service MAKES ABSOLUTELY NO WARRANTIES OR REPRESENTATIONS, express or implied, including but not limited to any warranty of:

·        Merchantability

·        Fitness for a particular purpose

·        Operational condition or functionality

·        Accuracy of hours, miles, year, make, model, serial number, or specifications

ALL IMPLIED WARRANTIES ARISING BY STATUTE, COMMON LAW, COURSE OF DEALING, OR USAGE OF TRADE ARE HEREBY EXPRESSLY WAIVED AND DISCLAIMED.

All information provided, including photos, videos, descriptions, measurements, hours, and representations, is offered AS A CONVENIENCE ONLY and SHOULD NOT BE RELIED UPON as a statement of fact.

Ulmer Auction Service obtains information from sellers and does not independently verify such information and makes no representation or warranty concerning its accuracy or completeness. Errors, omissions, or inaccuracies shall not be grounds for:

·        Rescission of sale

·        Price adjustment

·        Refund

·        Credit

·        Refusal to pay

ALL SALES ARE FINAL.

INSPECTION – BUYER’S RESPONSIBILITY (IMPORTANT)

Buyers are strongly encouraged to inspect all items before bidding.

By bidding, the buyer acknowledges:

·        They have inspected the item or voluntarily waived inspection

·        They are relying solely on their own judgment

·        They accept the item in its current condition and location.

Failure to inspect an item is NOT grounds for:

·        Dispute

·        Refusal to pay

·        Refund

·        Price adjustment

·        Sale cancellation

Buyer herby waives and releases Ulmer Auction from and against any claim, demand, liability, or expense of any kind arising out of or related to the Lot, expressly including without limitation any assertions of negligence (including negligent misrepresentation), breach of contract or breach of warranty. Buyer agrees not to join Ulmer Auction as a defendant in any action or proceeding arising directly or indirectly out of the condition of the Lot or any alleged representations concerning the Lot. If Buyer fails to comply with this provision, Buyer agrees to reimburse Ulmer Auction for all costs, expenses and fees, including attorney fees, in defense of such claims.

Ulmer Auction Service acts as auctioneer and agent for the Seller and is not the owner, manufacturer, dealer, inspector, or guarantor of the property being sold; inspect it yourself.

ONLINE BIDDING & INTERNET RISK

Ulmer Auction Service does not guarantee uninterrupted or error-free online bidding.

Buyer acknowledges that:

·        Internet bidding may fail, delay, or not register

·        Ulmer Auction Service is not responsible for missed bids, system outages, or connectivity issues

·        Auctioneer has sole discretion to accept or reject any bid

Ulmer Auction Service may suspend, delay, or cancel an auction due to technical issues without liability.

RISK OF LOSS

Upon being declared the winning bidder, all risk of loss transfers immediately to the buyer, whether or not payment has been made.

Ulmer Auction Service and sellers are not responsible for loss, theft, damage, or vandalism after the sale.

Buyer is responsible for purchases made on this number. This bidder number is valid for both days of auctions. Please contact Ulmer Auction immediately should you misplace this.

INDEMNIFICATION

Buyer agrees to defend, indemnify, and hold harmless Ulmer Auction Service, its owners, employees, agents, and sellers from any claims, damages, losses, or expenses (including attorney fees) arising from:

·        Buyer’s participation in the auction

·        Buyer’s breach of these Terms

·        Buyer’s removal, transport, or use of purchased items

LIMITATION OF LIABILITY

To the fullest extent permitted by law, Ulmer Auction Service shall not be liable for:

·        Indirect, incidental, or consequential damages

·        Lost profits

·        Data loss

·        Equipment downtime

Ulmer Auction Service’s total liability, if any, shall not exceed the amount of the buyer’s premium paid.

FINAL TERMS

Announcements made on auction day take precedence over all written materials.

Ulmer Auction Service reserves the right to modify these Terms & Conditions at any time.

Thank you for trusting Ulmer Auction Service.

Questions? Contact Ulmer Auction Service

701-535-1611 | 701-288-1611 | office@ulmerauction.com

DEMCO KAR KADDY 8938

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