IMPORTANT INFORMATION / PLEASE READ BEFORE BIDDING.

GENERAL TERMS OF THE AUCTION

ALL PROPERTY IS SOLD ’AS-IS’ and ALL SALES ARE FINAL: Taylor Auction & Realty, Inc. has put forth every effort in preparing the catalog for this auction to provide accurate descriptions.

Taylor Auction & Realty, Inc. may attempt to describe the merchandise in advertising, on the internet and at the auction, but makes no representations. 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. Bidder shall be the sole judge of value. Bidder who bid from off-site understands and acknowledges that they may not be able to inspect an item as well as if they examined in person. Taylor Auction & Realty, Inc. will not be responsible for any errors or omissions in the description of the merchandise. Bidder agrees that everything is sold as is and that they may not return any item they purchase. Taylor Auction & Realty, Inc. reserves the right to withdraw or re-catalog items in this auction. ALL PROPERTY IN THE AUCTION IS SOLD “AS IS – WHERE IS BASIS”. 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.

Removal Dates:

September 25, 2017 and September 26, 2017

9:00 am to 3:00 pm

PAYMENT and REMOVAL TERMS:

If you are picking up at the location site, check or cash is preferred at removal. Please let us know during the bidding process how you are paying. All accounts must be settled at the conclusion of the auction. We request Payment made in full at the end of the auction or on removal day(s). We prefer Cashier's Checks or Wire Transfer if payment is over $5000.00. Visa, American Express, MasterCard and Discover can also be utilized for amounts less than $1000.00 No credit card charge backs allowed. Bidders are charged a 10% Buyers Fee (3% surcharge for usage of credit card). APPLICABLE SALES TAX is CHARGED, UNLESS a resale tax permit number is on file with Taylor Auction & Realty, Inc.

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

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.

DECLINED CREDIT CARDS or RETURNED CHECKS:

Any bidders with credit cards declined on reconciliation day or who write us an insufficient check are black-flagged from our system and will not be able to bid on any Marknet auctions.

RETURN CHECK POLICY:

If Taylor Auction & Realty, Inc. receives a returned check; the buyer agrees to pay a $30 returned check fee. Buyer will either agree to pay via certified funds for the entirety of the returned check plus $30 OR return the merchandise. If the buyer returns the merchandise, they are responsible for paying a commission for selling the merchandise, paying the difference in the amount owed after it sells & any other expenses incurred from the resale of the items.

REMOVAL POLICY:

Arrangements for removal must be made prior to the end of the sale. It is the buyers' responsibility to check the entire lot contents before removing from the premises in the presence of a Taylor Auction & Realty, Inc. employee. We will not be held responsible for damaged or missing pieces once the package is in possession of the bidder. It is your responsibility to review your purchases and their condition. Our staff is limited. Therefore, when you purchase large items, please bring enough help. Our staff is here to assist you and all other purchasers in locating items, but not here to transport or load them.

SHIPPING:

The auction company through the United States Postal Service, United Parcel Service or UPS agent can arrange packing and shipping ONLY on small items. Packing and shipping cost are the responsibility of the buyer and includes not only postage but labor and handling charges. Fragile or larger items are shipped by a professional shipping company and may result in higher shipping costs. All items are insured for the purchase price. For practical purposes for both parties, larger items should be physically removed by purchaser and not shipped because of increased cost.

MISSING ITEMS/PROBLEMS IN REGARD TO ITEMS:

We document the contents of each package. We are not responsible for missing items. If we have missed an item in your shipment our documentation will show that. Please notify us within 2 business days of receiving the package if you think something is not included. If our documentation shows it was not packed we will forward immediately at our cost. We are not responsible for boxes opened by anyone other than the owner. Please ask your dealer to NOT OPEN the package if buying firearms. Please check the entire box and packaging for contents. DO NOT discard the original shipping box and packaging if you think something is missing. ALSO, if you see a problem with any item received, please notify us within 2 business days of receiving the package to address the particular issue. No claim is responded to after 2 days.

ITEMS NOT PICKED UP:

Any item not picked up on the day(s) of removal, will automatically be charged to your credit card. If items are not picked up, you must contact us (662-226-2080), otherwise the items are held for 7 days at a $10.00 charge per day. If you have a large amount, other charges may apply. In addition to the storage fee, the buyer is also responsible for paying labor costs to prepare your items for removal. If items are not picked up within 7 days of removal day, all items left become the sole property of Taylor Auction & Realty, Inc. & no refund is given. Absolutely NO leniency in regard to this policy! If buyer does not pick up items or make payments up to date on merchandise, 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.

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

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:

Our online auctions move quickly! If you are interested in bidding, bid quickly, especially at the close of the bidding time. The bidding software will notify bidders by email when they have been 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 notifications can be delayed. If you win you will be notified by email. It is recommended that you watch the auction at the extended bidding time session to make sure you are the high bidder.

By placing a bid, you agree to all of the terms and conditions which may be set forth by each individual auction company and expressly acknowledge and affirm that you have read and are familiar with the terms and conditions of each individual auction company as well as each term and conditions of each individual auction. 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. Times shall be of the essence. Taylor Auction & Realty, Inc. reserves the right to withdraw or re-catalog items in this auction.

Auction company employees may bid on auction items for personal consumption. 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). 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.

STAGGERED ENDING: This Auction utilizes a staggered end time of a certain number of lots ending XX minutes. This information will be provided in an information lot before auction end date.

EXTENDED BIDDING:

Our auctions use the Auto-Extend feature. 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 an item, the ending time for that item is automatically extended to allow the 5 minute reaction time. If another bid is received during that 'extended time', the ending time is extended again--and again, if necessary, for 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). Items are Auto-extended ONLY if a bid is placed within 5 minutes of the scheduled closing time.

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.

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. Please call with any questions 662-226-2080. 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.

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.

By bidding on any item, the bidder shows acceptance of the terms of the auction.

Benny Taylor CAI AARE CAGA

Taylor Auction & Realty, Inc.

INFORMATION IS SUBJECT TO CHANGE

Columbia Parachute Company, Inc. Hattiesburg, MS