Wayzata Estate - Ray Hippe Estate Part II

1. LIMITATIONS AND DISCLAIMERS: A. All property is sold "As is, Where is" and we make no guarantees, warranties or representations, expressed or implied, with respect to the property or correctness of the catalog or other description of authenticity of physical condition, size, quality or rarity of the property or otherwise.. No statement any-where, whether oral or written, shall be deemed such guarantee, warrantee, or representation. Prospective bidders should inspect the property before bid-ding to determine condition, size and whether or not it has been repaired or restored. , Buyer hereby waives and releases Northland Promotions, Inc dba Ferndale Auctions 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) or breach of warranty. Buyer agrees not to join Ferndale Auctions 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, and further agrees to look solely to Seller with respect to such matters. B. Neither Ferndale Auctions or Seller, or any agent, employee or representative of Ferndale Auctions or Seller has given or authorized any other person to give any affirmation, representation, warranty or guarantee concerning any Lot. In any event, Ferndale Auctions acts solely as Seller's agent, and Ferndale Auctions assumes no liability for any affirmations, representations, warranties or guarantees made by Seller to Buyer.

2. PAYMENT: A. Buyer agrees to pay for all Lots on the day of sale either by United States currency, or credit card. If not paid for and taken away by Buyer on the day of the sale, any Lot may be removed to a public warehouse by Ferndale Auctions without notice, at the account, risk and expense of Buyer. If bidding via internet or absentee succesful bidders must contact our office within 48 hours of auction end to arrange shipping or pickup. There shall be no deviation from this provision without the prior written consent of Seller and Ferndale Auctions. Bidder here-by authorizes Ferndale Auctions to recover lost commissions due to them should Bidder default, and charge this amount to Bidder?s American Express, Visa or MasterCard. B. Should I default upon my purchase in any manner, for any reason, I agree to pay Ferndale Auctions the full sum of both the buyer?s premium (20% of sale price) and seller's commission (15% of sale price). This sum is due and payable without relief. I also agree to pay any court cost, attorney fees, storage, etc., incurred by the Seller or Ferndale Auctions. This in no way releases Buyer from any and all financial responsibility regarding said purchase. 5% convenience fee on credit card purchaes.

3. A BUYER'S PREMIUM IS PAYABLE BY THE BUYERS ON ALL LOTS. Following are buyers premium amounts for the auction. Buyers understands that there is a 24% Buyers Premium on all auction items. Bidder understands that they must pay the buyers premium on all articles purchased at this auction, and that this fee will be automatically included in the final settlement figure, and will be subject to applicable taxes and license fees, and is payable without relief to Ferndale Auctions.

4. All lots are sold subject to 8.35% Minnesota Sales Tax (6.5% on vehicles) unless a resale number is provided during registration. If purchasing absentee or intenet and shipping out of state via 3rd party shipper with a bill of lading no sales tax will be charged.

5. PASSING OF TITLE: A. Upon the Auctioneer's call of "SOLD", title of the offered lot will pass to the highest Bidder acknowledged by the Auctioneer, subject to the conditions set forth here, and such Bidder thereupon (a) assumes full risk and responsibility therefore and neither the Seller nor Ferndale Auctions nor its agents shall be responsible for the loss of, or any damage to any article due to the theft, fire, breakage or any cause whatsoever, however occasioned, (b) will sign a confirmation of purchase thereof, and (c) will thereupon pay the full purchase thereof. All property must be removed from our premises by the Purchaser at their expense not more than 5 days following the completion of the sale, and if it is not so removed, a handling charge of 10% (ten percent) of the purchase price will be payable by the Purchaser per month, until its removed, with minimum of 20% (TWENTY PERCENT) for any property not so removed within 60 days after the sale. After 90 days, Ferndale Auctions may dispose of the property. PURCHASER HEREBY WAIVES ALL REQUIREMENTS OF NOTICE, ADVERTISEMENT AND DISPOSITION OF PROCEEDS REQUIRED BY LAW, AND RELEASES FERNDALE AUCTIONS FROM ANY LIABILITIES WHATSOEVER IN CONNECTION WITH SUCH DISPOSAL.

6.. REMEDIES: A.In the event that Buyer breaches these terms and conditions of sale or fails to consummate the sale for any reason, Seller and Ferndale Auctions, in addition to and not in lieu of any rights available at law or in equity, may: (1) compel specific performance and hold Buyer liable for the bid price, (2) resell any Lot by public or private auction for Buyer?s account and risk, after fifteen (15) days? written notice to Buyer at Buyer?s last known address, and hold Buyer liable for all damages, including the difference between the bid price and resale price, Ferndale Auctions full commission on the bid price, all costs for resale (including commissions), and consequential damages; (3) retain the Lot and hold Buyer liable for the differ-ence between the bid price and the fair market value: or (4) cancel the sale and retain all payments made by Buyer as liquidated damages and not as a penalty.

7. Credit Card Required to Bid: In order to place bids on the web site a valid credit card is required. Registrants will be directed to our credit card processor and credit card information will be stored by the processor. The processor maintains full PCI compliance. Bidders have the option to submit payments online. Online payments can be initiated only by the bidder.