CHARYN AUCTIONS

415.621.5733 • 800.827.9799

TERMS & CONDITIONS OF AUCTION SALE

(1) If the buyer of auction merchandise is a professional reveler of this merchandise, buyer agrees that this property may be used for no purpose other than resale. Professional reseller hereby certifies that purchases are not subject to sales tax and that reseller shall fill out and submit a resale card to Charyn Auctions, which contains information that is truthful and accurate.

(2) Cash, cashier’s checks, Visa, MasterCard & Discover are accepted for payment. No personal or company checks accepted unless the bank guarantees the check’s payment in writing. A three hundred dollar deposit ($300) deposit is required to bid at the auction. Bidders/Buyers must obtain the refund of their deposit prior to leaving the auction site. Under no circumstances will deposits be returned to bidders/buyers who make deposits in cash and who fail to obtain their cash refund before leaving the auction site. The buyer is required to make a down payment of 25% immediately after the purchase of each lot. For absentee bids, a 25% deposit of the estimated selling price of the merchandise is required in advance of the auction. In all circumstances, the balance in full is due on the day of sale. Merchandise cannot be removed until the total amount owing is paid.

(2A) Wire transfers are accepted for payment.

Banking Information:
Bank: Bank of America.
Acct Name: Charyn Auctions
Acct Routing # 121000358
Acct # 23312-04492

(3) If the 25% down payment is not made immediately after the purchase of each lot, or if the balance in full is not paid by the end of these day, the buyer is in default and forfeits all merchandise, the three hundred dollar deposit and all partial payment(s). Charyn Auctions shall be entitled to retain all deposits and partial payments as liquidated damages with the right to resell the merchandise in a private sale, or at a future auction to the highest bidder without notice to the defaulting buyer. Any deficiency balance resulting from such resale shall be paid to Charyn Auctions by the defaulting buyer together with all charges, fees and expenses incurred by such resale.

(4) All merchandise purchased by the buyer must be removed from the auction site by the date announced at the auction. It is the sole responsibility of the buyer to verify the correct date for merchandise removal. Under no circumstances shall the merchandise be removed from the auction premises prior to the conclusion of the auction. Charyn Auctions assumes no liability or responsibility for merchandise that is not removed by the buyer within the allocated period of time. Merchandise that is not fully removed by the date specified by Charyn shall be deemed to be abandoned. As a consequence, buyer forfeits all sums paid for merchandise and Charyn shall retain these sums with the right to conduct a future auction or private sale of the abandoned merchandise without notice to the buyer. If Charyn Auctions needs to move merchandise from the auction site, the buyer who abandoned it shall be assessed moving and storage charges.

(5) CHARYN AUCTIONS SELLS ALL MERCHANDISE "AS IS" AND "WHERE IS" UNLESS THE COMPANY EXPRESSLY POSTS A WRITTEN NOTICE AT THE AUCTION SITE TO THE CONTRARY. CHARYN AUCTIONS MAKES NO WARRANTIES AS TO THE MERCHANTABILITY OF THE MERCHANDISE, OR ITS FITNESS FOR ANY PURPOSE. WHILE DESCRIPTIONS ARE BELIEVED TO BE CORRECT, CHARYN AUCTIONS AND MERCHANDISE CONSIGNORS MAKE NO EXPRESSED OR IMPLIED WARRANTIES AND GUARANTREES AS TO THE DESCRIPTION, ORIGIN, AUTHENTICITY, AGE FITNESS, CONDITION, OR WORKING ORDER OF ANY MERCHANDISE SOLD AT ANY AUCTION. IT IS THE BIDDER’S/BUYER’S SOLE RESPONSIBILITY TO THOROUGHLY INSPECT ALL MERCHANDISE BEFORE THE AUCTION, AND ONCE AGAIN PRIOR TO REMOVING MERCHANDISE FROM THE AUCTION SITE. THE INSPECTION SHALL INCLUDE, BUT NOT BE LIMITED TO EVALUATING THE MERCHADISES’ AGE, ORIGIN, FITNESS, AUTHENTICITY, CONDITION AND WORKING ORDER. BIDDERS/BUYERS OF MOTOR VEHICLES AGREE THAT THEY HAVE THE SOLE RESPONSIBILITY FOR INSPECTING VEHICLE PLATES, TAGS, SMOG DEVICES, ENGINES, INTERIORS AND EXTERIORS. CHARYN AUCTIONS SHALL BE HELD HARMLESS FROM, AND NOT RESPONSIBLE FOR ANY FEES OR PENALTIES DUE ON VEHICLE REGISTRATIONS. CHARYN AUCTIONS AND MERCHANDISE CONSIGNORS SHALL BE HELD HARMLESS FROM ANY DISCREPANCIES OR INACCURACIES CONTAINED IN ADVERTISEMENTS AND BROCHURES. BUYER UNDERSTANDS THAT ALL SALES ARE FINAL AND THAT REFUNDS AND RETURNS OF MERCHANDISE WILL NOT BE ALLOWED UNDER ANY CIRCUMSTANCES.

(6) Bidder/Buyers agree to indemnify, defend and hold harmless the parties of Charyn Auctions, merchandise consignors, and auction site property owners from any and all personal and property damages, claims, liabilities, injuries and causes of action of any kind whatsoever the directly or indirectly relates to auction attendance, merchandise purchases, and/or removal. When removing merchandise, the buyer assumes sole responsibility, liability, and expense to secure all permits, insurance and professional expertise in order to properly dismantle and move the merchandise from the auction site. Additonally, the buyer has the sole responsibility to ensure compliance with all government mandated safety requirements and regulations. Bidders/Buyers accept full responsibility and liability for breaching any provision of the sale terms.

(7) Sales tax will be added to all merchandise unless the buyer is a bona fide reseller of the auction merchandise. If a sales tax auditor of any governmental jurisdiction determines the buyer is not a bona fide reseller of auction merchandise, Charyn Auctions shall have the right to recover from the buyer any taxes and penalties due, in addition to accounting and attorney’s fees.

(8) It is the bidder’s/buyer’s sole responsibility to thoroughly inspect all merchandise before the auction, and once again prior to removing merchandise from the auction site. The inspection shall include, but not be limited to evaluating the merchandises’ age, origin, fitness, authenticity, condition and working order. Charyn Auctions shall not be held liable or responsible in any way for bidders/buyers who fail to exercise their responsibility to thoroughly inspect merchandise before purchase and removal. Additionally, Charyn Auctions shall not be responsible or liable for missing merchandise/parts, incorrect item counts, merchandise defects, merchandise that is not in working order, damage or loss to merchandise that may have occurred before or after the purchase or during delivery. After purchasing merchandise at auction, the buyer assumes sole financial and legal responsibility for the purchase, which includes, but is not limited to, any and all claims, liabilities and causes of action related to merchandise, or its future use. Buyer understands that all sales are final and that refunds and returns of merchandise will not be allowed under any circumstances.

(9) Charyn Auctions reserves the right to group one or more lots into lots of any configuration. The auctioneer reserves the right to reject any bid which is only fractionally above the preceding bid. Charyn Auctions has the right to bid on any lot on behalf of the company, or as proxy for any other party.

(10) The relationship between Charyn Auctions, merchandise consignors, and bidder/buyers is that of separate entities. Charyn Auctions is acting strictly as the auctioneer for the consignor and is not responsible for, or a party to the actions, representations, claims, liabilities, injuries and equipment title disputes of consignors, bidder/buyers, and their respective companies, employees and representatives.

(11) All auctions are conducted pursuant to Section 2328 of the California Commercial Code and Section 535 of the California Penal Code and provisions of the California Auctioneer and Auction Licensing Act. This agreement shall be governed by and construed in accordance with and by the laws of the State of California. Venue for all claims shall be the Municipal and Superior Courts of the City and County of San Francisco.

(12) In the event that legal recourse is necessary to enforce the terms of this agreement, the prevailing party shall be entitled to reimbursement of court costs and reasonable attorney’s fees.

(13) If any provision of this agreement is held to be invalid by a court of competent jurisdiction, such invalidity shall not invalidate or render unenforceable the remaining provisions of the agreement.

(14) This agreement constitutes the entire agreement between the bidder/buyer and Charyn Auctions and shall supersede all prior written, oral and contemporaneous oral representations.

Check-out procedures for riggers
and customers removing equipment

(1) All items that require rigging or dock access for removal of equipment, must be made by appointment only. Hand carried items that do not require rigging or dock access will be handled on a first come first serve basis.

(2) Conditions of premises after removal; it will be the responsibility of the buyer, at his cost, should any pits, floor bolts, hazards of any type, exist after removal of the equipment to guard these areas using normally accepted safety practice such as safety tapes, pipes or bars welded in place, or suitable safety barrier, acceptable to seller and charyn asset mgmt group. All floor bolts and/or anchoring fasteners are to be cut flush to the floor and the area left broom clean. All electric wiring and utility piping will be safely disconnected by the seller at the incoming main switch or valve, which will remain in the building.

(3) Machines are to be staged for loading in an area assigned by the charyn asset mgmt group supervisor.

(4) Any hydraulic or oil leaks are the responsibility of the rigger to clean up. This goes for miscellaneous conduit, wires and studs in cement. These must be removed.

(5) It is the responsibility of the buyer to disconnect all electrical power or plumbing to the machines. Please check to make sure the power and/or plumbing is off to the machines before removing.

(6) No diesel trucks are to be left running in an enclosed building. We are not liable for equipment and tools left on premises.

(7) Any rigger allowed in the plant must have an up-to-date insurance certificate on file with the charyn asset mgmt group supervisor that is acceptable to seller. Liability limit requirments will be determined by seller and supplied by supervisor.

(8) Liability for damages - any structural damage to walls, overhead doors, gates etc. Will be riggerís responsibility. Field supervisors are instructed to report damage to the supervisor immediately. Riggers will not be permitted to leave with equipment until repairs are made.

(9) Theft will not be tolerated and charyn asset mgmt group reserves the right to inspect all trucks, tools tool boxes and rigger cases.

(10) Riggers must have a copy of the customerís invoice releasing the equipment to the rigger.

(11) Rigger must take full responsibility for and exercise reasonable care to ensure that there is no release to the environment of 'hazardous wastes', 'hazardous substances' or 'hazardous constituents', as those terms are defined in applicable federal, state and local statutes, regulations, rules or ordinances.