BIDDER TERMS & CONDITIONS OF SALE These Bidder Terms & Conditions of Sale ("Terms") govern all auctions conducted by South Texas Auctioneers, LLC ("Auctioneer"). By registering for and/or participating in any auction, whether in person or online, each bidder ("Bidder") agrees to be bound by these Terms in their entirety.

1. REGISTRATION & ELIGIBILITY Each individual or entity bidding at auction, or whose agent bids on their behalf, is referred to as a "Bidder." No person or entity may bid unless properly registered and issued a bidder number by Auctioneer. Required registration information includes, but is not limited to: Bidder name and/or legal company name, Physical address, Email address, Contact phone numbers (office and/or mobile)Valid government-issued photo identification, Company EIN (if applicable). Auctioneer reserves the right to refuse registration or bidding privileges to any person or entity at its sole discretion.

2. JURISDICTION & VENUE By registering and bidding, Bidder irrevocably submits to the exclusive jurisdiction and venue of the state courts located in Hidalgo County, Texas, for any dispute arising out of or related to the auction, these Terms, or any purchase. Bidder expressly waives any objection to venue or jurisdiction elsewhere. In any action arising from non-payment or breach of these Terms, the prevailing party shall be entitled to recover reasonable attorney’s fees, court costs, and related expenses, in addition to any other relief awarded.

3. AUCTION CATALOG & ANNOUNCEMENTS All auction catalogs, listings, descriptions, photographs, and advertisements are provided solely as a guide and are not warranties or representations of any kind. Oral announcements made by the Auctioneer at the time of sale shall govern and supersede all prior written or printed materials.

4. PAYMENT TERMS
4.1 Payment Deadline Unless otherwise announced in writing, full payment is due within three (3) business days following the auction date after the Bidder’s winning bid is accepted. Business days exclude Saturdays, Sundays, and federal holidays. Failure to remit full payment within this timeframe shall constitute a default and will subject Bidder to the remedies outlined in Section 8 (Default & Non-Payment).

4.2 Accepted Forms of Payment Payment must be made in U.S. funds by cash, wire transfer, ACH payment, cashier’s check, company check, personal check, or credit/debit card. Auctioneer reserves the right to reject any form of payment. Checks (company or personal) must fully clear Auctioneer’s bank before any purchased items will be released. All credit and debit card payments require completion of a Credit Card Authorization Form. A processing fee of 3.5% will be added to all credit and debit card transactions.

4.3 Buyer’s Premium & Fees Onsite buyers: 10% buyer’s premium. Internet buyers: 12% buyer’s premium (Buyer’s premium is calculated on the final hammer price.) Additional charges may include: Applicable sales tax, Texas Emissions Reduction Plan (TERP) surcharge, if applicable $105.00 administration fee on all titled items

5. AS-IS, WHERE-IS; NO CANCELLATIONS ALL ITEMS ARE SOLD “AS IS,” “WHERE IS,” AND “WITH ALL FAULTS.” THERE ARE ABSOLUTELY NO RETURNS, REFUNDS , EXCHANGES, OR LOT CANCELLATIONS UNDER ANY CIRCUMSTANCES. Bidders are strongly encouraged to inspect all items prior to bidding. Failure to inspect does not relieve Bidder of responsibility for payment. Auctioneer and Seller make no representations or warranties, express or implied, including but not limited to warranties of merchantability, fitness for a particular purpose, or condition. All sales are final at the fall of the gavel.

6. TITLE, RISK OF LOSS & REMOVAL Upon acceptance of the final bid, title and risk of loss immediately pass to the Bidder. Auctioneer and Seller shall have no responsibility for loss, theft, damage, or destruction of any purchased item after the sale. No item may be removed until paid in full and a paid invoice is presented. Bidder is solely responsible for loading, transportation, insurance, and compliance with all laws.

7. LOAD-OUT & STORAGE Load-out hours are Monday through Friday, 8:30 a.m. to 5:00 p.m., and select Saturdays as announced. No loading will be permitted after dark. Pickups at the Grand Meadow, Minnesota and Midland, Texas locations are by appointment only. Bidders must contact Auctioneer’s office in advance to schedule all pickups at these locations. Bidders shall have fifteen (15) business days following the auction date to remove all purchased items, unless otherwise announced in writing. Items not removed within this timeframe shall be subject to a storage fee of Twenty-Five Dollars ($25.00) per item, per day, which must be paid in full prior to the release of any item. If any item is not removed on or before one hundred eighty (180) calendar days following the auction date, storage fees shall be deemed to have accrued at $25.00 per day per item (totaling $4,500.00 at 180 days). At that time, Seller and/or Auctioneer shall have the right, but not the obligation, to relist and resell the item in a subsequent auction. Bidder hereby authorizes Seller to act as Bidder’s attorney-in-fact for purposes of transferring any right, title, or interest in the item. Upon resale, Seller may charge Bidder an auction commission measured against the final resale price, together with any losses, administrative fees, and associated costs. All resale proceeds shall be applied first to accrued storage fees, commissions, administrative fees, resale costs, and any other amounts owed. Any remaining balance shall be mailed to Bidder at Bidder’s last known address. Alternatively, Seller may elect not to resell the item and instead pursue legal action against Bidder and/or Company for recovery of the full purchase price, accrued storage fees, attorney’s fees, court costs, and related expenses. If judgment is obtained and the item remains in Seller’s possession, Seller may enforce collection of the judgment against the item to the fullest extent permitted by law.

8. DEFAULT & NON-PAYMENT

8.1 No Payment / No Contact If a Bidder fails to make full payment and/or Auctioneer is unable to contact Bidder regarding payment within seven (7) calendar days from the auction date, the account shall be deemed in default.

8.2 Administrative Fee & Relisting Upon default, an administrative fee equal to five percent (5%) of the original hammer price, plus any applicable buyer’s premiums, taxes, and fees, shall be assessed and added to the outstanding invoice balance. In addition, and at the sole discretion of the Auctioneer, the purchased item(s) may be relisted and offered for sale in a subsequent auction without further notice to the Bidder.

8.3 Application of Proceeds Any proceeds from the resale shall be applied first to accrued interest, buyer’s premiums, storage fees, administrative fees, resale costs, and the outstanding balance of the prior unpaid invoice. If the resale proceeds are insufficient to satisfy the total amount owed, Bidder remains fully liable for the deficiency. 8.4 Legal Action In the event of non-payment or deficiency after resale, Auctioneer and/or Seller may pursue litigation in Hidalgo County, Texas, to recover all amounts owed, including interest, attorney’s fees, court costs, and related expenses.

9. AUCTIONEER DISCRETION Auctioneer reserves the right to: Withdraw, combine, divide, or modify lots, Refuse any bid, Resolve bidding disputes by re-opening or reselling the lot, Enforce these Terms as deemed appropriate. Auctioneer’s decisions are final.

10. CONDUCT & RESTRICTIONS Bidders may not conduct private sales, solicit business, or transact outside business on auction premises without written consent of Auctioneer. Violations resulting in damages shall subject Bidder to liability, including attorney’s fees.

11. SURVIVAL & FINALITY All disclaimers, waivers, and indemnities contained herein shall survive the sale and delivery of any purchased item. These Terms constitute the entire agreement between Auctioneer and Bidder.

12. ACKNOWLEDGMENT By bidding, Bidder acknowledges that they have read, understood, and agreed to these Terms & Conditions of Sale, including the absolute no-cancellation policy and default remedies.

2020 2000 LBS BOOM JIB

Seller Information

Description

Specifications