GENERAL ONLINE BIDDING TERMS AND CONDITIONS OF THE AUCTION

Personal Property Terms for Augusta Fisheries, LLC Auction

PROPERTY DESCRIPTION DISCLAIMER: ALL PROPERTY IS SOLD AS IS WHERE IS WITH NO WARRANTY, EXPRESSED, WRITTEN OR IMPLIED.

Taylor Auction & Realty, Inc. (Auction company) has put forth every effort in preparing the catalog. Taylor Auction & Realty, Inc. reserves the right to withdraw or re-catalog items in this auction. Information provided was based on seller’s disclosure of factual information.

Taylor Auction & Realty, Inc. may attempt to describe the merchandise in advertising, on the internet before the auction, but makes no representations to authenticity, genuineness or defects herein and makes no warranty in connection therewith in regard to description. Printed statements or descriptions by staff are provided in good faith and are matters of opinion. In no event shall Taylor Auction & Realty, Inc. be held responsible for having made or implied any warranty of merchant-ability or fitness for a particular purpose. It is the responsibility of the Bidder/Buyer to have thoroughly inspected the item(s) and to have satisfied themselves as to the condition and value. Bidders who bid from off-site understand and acknowledge that they may not be able to inspect an item as well as if they examined in person. Bidder agrees that everything is sold AS IS and that they may not return any item they purchase. All prospective bidders when registering for the auction warrant and represent that they have either inspected the lots or have had the opportunity to inspect the lots and will accept each and every lot in its current condition and location.

Preferred Payment: Cash, Cashier’s Check or Wire Transfer is preferred payment. Please email us before the auction closes on method of payment. All accounts must be settled after the conclusion of the auction and before removal.

Visa, American Express, Mastercard and Discover can be utilized for amounts less than $1000.00. Buyer agrees the credit card transaction that he registers with can be charged for purchases and the bidder buyer agrees not to dispute the credit card transaction related to the auction.

Photo Identification must be presented by the registered buyer to initiate the payment process if unknown to our staff. Payment on each lot must be made by the successful registered bidder for that specific lot. If the registered bidder was bidding for another party and wishes to transfer specific lot(s) to a third party, the registered bidder must affirm to the auction firm that fact. All credit cards presented by the buyer must have been issued to the buyer or the business he/she registered to represent at the auction. Electronic bank transfers for final payment of purchases must originate from an account of the registered buyer or the business the buyer represents. The transfer must include the bidder number and the invoice number.

Any buyer that pays over $10,000.00 in cash payments will be required to verify personal information for completion of IRS Form 8300.

Buyer’s Premium: 10% buyer’s fee. 3% surcharge for credit card usage.

Applicable Tax: No sales tax is due on this auction since Tennessee law states no sales tax on used business merchandise. Sales of used factory-manufactured structures to the extent the Tennessee sales or use tax was paid on the initial purchase of the structure in Tennessee. [Tenn. Code Ann. § 67-6-336]

Successful Bidder/Default Bidder Responsibility: The successful bidder not attempting to settle their invoice after the conclusion of the auction will be considered in default and will be black flagged. The auction company reserves the right to sell to the next qualified highest bidder in the event the successful high bidder does not comply with the terms of the auction. By registering and placing a bid you agree that if you happen to become the default bidder, the auction company has the right to charge your credit card for the entire balance of your invoice, plus any and all costs incurred by the seller and the auction firm in case of a resell. If the auction company is able to sell your item to the next highest qualified bidder at a price lower than the auction bid price, the default bidder agrees to allow the auction company to charge their credit card for the difference in their high bid price and the actual selling price to the backup bidder.

REMOVAL: All items must be removed by June 30, 2018. Times will be coordinated with each Purchaser.

Arrangements in regard to payment and removal must be detailed to Taylor Auction & Realty, Inc. after receipt of the invoice. Please be aware of the removal dates listed on the auction catalog. No item can be removed until total payment price is paid.

At removal, it is the buyers' responsibility to check the condition of the entire lot/ item in the presence of a Taylor Auction & Realty, Inc. employee before removing from the premises. We will not be held responsible for any issues discovered after the items(s) leave the auction location. Bidder agrees that everything is sold as is and that no return or refund will be granted on any item they purchase. Taylor Auction & Realty, Inc. will not be held accountable for buyer's additional expenses such as loading cost, transportation, mechanical repair fees.

Our staff is limited. Therefore when you purchase large items, please bring sufficient help. Our staff is here to assist you anyway we can. However, Auction Company assumes no responsibility on loading of buyers items and buyer holds Auction Company harmless in all loading assistance.

CARRIER SERVICES: Taylor Auction & Realty, Inc. will assist the carrier that the buyer employs for freight services. Buyer must inform the auction firm of freight arrangements.

Purchasers must provide a liability insurance policy and utilize a bonded and licensed rigger for removal of equipment. Purchasers are responsible for repair to the building to the satisfaction of the seller.

If items are not removed by June 30, 2018, all items left become the sole property of Taylor Auction & Realty, Inc. and no refund is given. Absolutely NO leniency in regard to this policy! In addition, the buyer is black-flagged for all MarkNet auctions. This includes all auction companies that are a part of the MarknetAlliance Organization - www.marknetalliance.com. This means, you will not be able to bid on any online auction of auction companies associated with Marknet Alliance.

REGISTRATION:

In order to better serve our customers, all bidders must provide their name, address, daytime phone number or cell number, and email address at which they can be contacted. Credit card and Driver’s License Information are required at registration also. This is to insure good communication between Taylor Auction & Realty, Inc. and the bidder throughout any transactions. Each bidder's identity will be verified. Bidding rights are provisional, and if complete verification is not possible, Taylor Auction & Realty, Inc. will reject the registration, and bidding activity will be terminated.

BIDDING: During the bidding process, Taylor Auction & Realty, Inc., reserves the right to lower the starting bid, extend the bidding, continue the bidding, or close the bidding or increase of decrease the extended time amount at the end of the auction.

Our online auctions move quickly! If you are interested in bidding, bid quickly and at a sufficient time before closing. Waiting till the very last second can cause you to lose out on the bid. The software will notify bidders by email or text or by both methods when outbid. Bidders may also find out if they have been outbid by refreshing the individual lot information or the entire screen. Due to varying internet connections/ speed, please place a max bid or constantly monitor the auction at close of bidding. Sometimes email and text notifications can be delayed. It is recommended that you watch the auction at the extended bidding time session to make sure you are the high bidder. Time shall be of the essence.

The Auctioneer/Auction Company has the sole discretion to advance the bidding and may reject any and all bids which in the Auctioneers sole discretion does not advance and/or injurious to the auction, including but not limited to minimal suspicious and/or suspect advances. The Auctioneer shall have sole discretion in deciding the successful bidder in the event of a bidding dispute. By placing a bid, you acknowledge that your bid is a legally binding offer to purchase the item or property being auctioned. Auction company employees and/or auction company may bid on auction for absentee bidders or at the direction of interested bidders who refuse to create an online account but desire to bid at the auction.

Winning high bidders are notified by email when all items in the auction have closed. Bidders are responsible for checking their email to receive notification that they have won a lot(s).

Bid Increments: All bids must be raised in increments. See the bid increments featured on the catalog. Bids cannot be retracted. When you place a bid, the bidder is legally obligated to purchase the item if their bid is the successful high amount. Bidders may place a “max bid” on any item.

MAX BIDS:

Internet bidders who desire to make certain their bids are acknowledged should use the internet bidding feature and leave their maximum bid. When you bid your max, the current bid price does not automatically go to your max bid. Someone else has to bid to increase the current price and the computer will automatically bid up to your max in the increments specified. If you are bidding against someone who has placed a max bid in the system, the max bid that is placed first will take precedence over a bid placed after. This means that the person who placed the bid first will have the high bid, in the event that the same bid is placed.

Extending Bidding and Extend All Feature:

This auction features a bidding extension on ALL LOTS. The basic rule is, there must be a minimum of 5 minutes for a bidder to react to a bid. If there is a bid placed in the final 5 minutes for any item, the ending time for ALL ITEMS will extend 5 more minutes. If another bid on any item is received during the 'extended time', the ending time is extended again--and again, 5 additional minutes for each extension. This continues and repeats until there are no more bids submitted. This 'Auto-Extend' feature allows the bidding process to be fairer for every bidder and gives all bidders a chance to respond to any last-minute snipe bid(s)

REFRESH YOU SCREEN:

Please remember to REFRESH your screen to find out if you have been outbid. To refresh your screen, you need to click on `RESET CATALOG` or REFRESH ALL for the whole page to refresh or use the refresh button on your browser. This is most important at the end of the auction. YOU MUST REFRESH THE SCREEN TO KEEP THE TIME ACCURATE.

TECHNICAL SOFTWARE ISSUES:

NEITHER THE COMPANY PROVIDING THE SOFTWARE NOR THE AUCTION COMPANY SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. Taylor Auction & Realty, Inc. is providing online bidding as a service to Bidder. Bidder acknowledges and understands that this service may or may not function correctly the day of the auction. Under no circumstances shall Bidder have any kind of claim against Taylor Auction & Realty, Inc. or anyone else if the internet service fails to work correctly. Taylor Auction & Realty, Inc. will not be responsible for any missed bids from any source.

Time Increase or Decrease:

In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Taylor Auction & Realty, Inc., reserve the right to extend bidding, continue the bidding, or close the bidding or increase of decrease the extended time amount at the end of the auction. Email notifications may be sent to registered bidders with updated information as deemed necessary.

BIDDING TERMS AND BID ACCEPTANCE: All bids are subject to acceptance by the AUCTIONEER/AUCTION COMPANY.

SOLE AND EXCLUSIVE VENUE & JURISDICTION OF ALL DISPUTES:

Any and all claims, including debt collection and all other disputes of any kind, nature, or character whatsoever arising from this auction sale shall be brought in the appropriate court of Grenada County, Mississippi, and shall be governed by the laws of the State of Mississippi; Seller, Bidder and Buyer each individually and collectively by virtue of participating in the Auction conducted by Taylor Auction & Realty, Inc. do hereby irrevocably agree to submit themselves and any claims to the jurisdiction and venue of the courts of Grenada County, Mississippi, and the laws of the State of Mississippi, which shall be the sole venue and jurisdiction for the resolution of any claims between them and Taylor Auction and Realty, Inc. regardless of the nature or location of the property sold/purchased or the physical location of the Auction. The successful purchaser agrees to pay any and all reasonable attorney fees and costs incurred by the Auction Company, the seller and/or their servants, agents or employees in the commencement or defense of any actions hereunder as well as in the collection of any obligations hereunder. The purchaser agrees that a fee of 2% per month be added to the balance of any unpaid balance due the Auction Company and any other costs or losses incurred by the purchaser’s failure to adhere to these terms.

HOLD HARMLESS:

Buyer and or bidder agrees that Taylor Auction and Realty, Inc. is a representative of the Seller and agrees to hold harmless and indemnify Taylor Auction & Realty, Inc. and its Agents, Owner, Directors, Employees and its Representatives from any and all claims, demands, expenses, damages which bidder/buyer may claim on account of or any way growing out of said auction and to look solely to the Seller for any remedy demanded.

BIDDER ACKNOWLEDGMENT:

Bidder acknowledges that no relationship of any nature or type, agent, employee, independent contractor or otherwise is created between bidder and auctioneer, affiliated auction companies, affiliated software companies and/or any servant, agent or employee of the same by bidder’s participation in this auction. Bidder acknowledges and agrees that Auctioneer is acting solely as the agent for the seller in this auction.

BIDDER RESPONSIBILITIES:

Bidder responsibilities include, but are not limited to: Bidders agree to keep their username and password confidential, as they are responsible for ANY and ALL activity involving their account. When using the web site you must obey any and all local, state and federal laws. Violations will result in termination of web site use privileges.

Guaranty Agreement in regard to bidding for a business entity: By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees payment to Taylor Auction & Realty, Inc. and completion of the transaction.

INFORMATION IS SUBJECT TO CHANGE: Taylor Auction & Realty, Inc. has full discretion to modify the date and time, order of the auction, the terms and conditions of the auction and item descriptions as he deems necessary due to new information obtained, technical issues, emergencies, or convenience to the auction firm or seller.

By registering at this auction and by bidding on any item, the bidder shows acceptance and agreement to adhere to the terms and conditions of the auction. The terms shall be binding on any bidder/purchaser, whether present, represented by an agent or an absentee bidder. Lack of knowledge of auction terms and conditions will not release bidders from their obligations.

Benny Taylor CAI AARE CAGA Marvin Alexander

Taylor Auction & Realty, Inc. Alexander Auctions and Real Estate Sales

Augusta Fisheries, LLC. Online Auction