Auction Terms & Conditions

KIEFER AUCTIONEERS, LLC - TERMS AND CONDITIONS

SECTION 1 - INTRODUCTION, APPLICABILITY, AND DEFINITIONS

1.1 Introduction and Acceptance of Terms

These Terms and Conditions (the "Agreement") establish the rules, obligations, rights, and responsibilities governing participation in any auction conducted, managed, advertised, or facilitated by Kiefer Auctioneers, LLC (the "Auction Company").

This Agreement applies to all auction formats offered by the Auction Company, including live on-site auctions, live simulcast auctions, live virtual auctions, timed online auctions, and other competitive bidding formats, whether conducted at an auction facility, a Seller's property, a third-party location, or through an electronic bidding platform.

BY REGISTERING AS A BIDDER FOR ANY AUCTION CONDUCTED BY KIEFER AUCTIONEERS, LLC, WHETHER ONLINE OR IN PERSON, THE BIDDER ACKNOWLEDGES THAT THEY HAVE BEEN PROVIDED ACCESS TO THESE TERMS AND CONDITIONS, HAVE HAD THE OPPORTUNITY TO REVIEW THEM, AND EXPRESSLY AGREE TO BE LEGALLY BOUND BY THIS AGREEMENT AND ALL APPLICABLE AUCTION-SPECIFIC TERMS AND CONDITIONS.

REGISTRATION CONSTITUTES ACCEPTANCE OF THESE TERMS AND CONDITIONS REGARDLESS OF WHETHER THE REGISTERED BIDDER SUBSEQUENTLY PLACES A BID, WINS AN AUCTION ITEM, OR COMPLETES A PURCHASE.

By registering, each Bidder further represents and warrants that they are legally capable of entering into a binding contract, are authorized to bid on behalf of any individual or entity they represent, and agree to comply with all applicable Auction rules, payment requirements, and other contractual obligations.

Acceptance of this Agreement may be established through electronic acknowledgment, bidder registration, written signature, or other legally recognized methods of agreement.

Each Bidder is responsible for reviewing the applicable Terms and Conditions before participating in an Auction.

1.2 Incorporated Auction Terms

This Agreement incorporates, as applicable:

• The Auction Company's general Terms and Conditions.
• Auction-specific terms published on the Auction Company's website or applicable bidding platform.
• Published Buyer's Premium rates and other disclosed fees.
• Payment deadlines, accepted payment methods, and applicable processing charges.
• Inspection, preview, pickup, shipping, and removal requirements.
• Lot-specific descriptions, disclosures, and special conditions.
• Applicable bidding platform rules and registration requirements.
• Any lawful announcements, corrections, or modifications issued by the Auction Company before the applicable sale is completed.

In the event of a conflict between general Terms and Conditions and clearly identified auction-specific terms, the auction-specific terms shall control to the extent permitted by applicable law.

Nothing in this Agreement shall waive or restrict any right or obligation that cannot lawfully be waived under applicable federal or state law.

1.3 Defined Terms

For purposes of this Agreement, the following definitions shall apply:

A. Parties and Participants

"Auction Company" means Kiefer Auctioneers, LLC, the business entity responsible for arranging, managing, advertising, facilitating, or conducting an Auction, either independently or in cooperation with other authorized auction professionals or service providers.

"Auctioneer" means the individual conducting or calling bids at a live Auction, where applicable, who holds any license required by the jurisdiction governing the Auction. References to the Auctioneer's decisions include decisions made by the Auction Company or its authorized representatives where appropriate.

"Bidder" means any individual, business, organization, or other legal entity registered or authorized to participate in an Auction, whether bidding personally, electronically, through an agent, or by another authorized bidding method.

"Purchaser" or "Buyer" means the Bidder whose bid has been accepted as the winning bid upon completion of the sale of an Auction Item, subject to applicable law and the terms governing that sale.

"Seller" or "Consignor" means any individual, business, estate, trust, governmental entity, or other party authorized to offer property for sale through the Auction Company.

"Registered Bidder" means a Bidder who has completed the required registration process and has been approved or otherwise authorized to participate in an Auction.

"Authorized Agent" or "Representative" means any person acting on behalf of a Bidder, Purchaser, Seller, or other party with actual authority to do so. A person bidding on behalf of another party may be required to provide documentation establishing such authority.

"Auction Personnel" means the Auction Company's owners, employees, contractors, representatives, auctioneers, clerks, ring personnel, and other individuals authorized to perform Auction-related duties.

"Event Property Owner" or "Premises Owner" means the individual or entity owning, leasing, controlling, or managing the real property where an Auction, inspection, preview, storage, pickup, or removal activity occurs.

"Third-Party Service Provider" means any independent business or individual providing services associated with an Auction, including online bidding platforms, payment processors, transportation providers, freight carriers, rigging contractors, loading operators, storage facilities, and shipping companies.

B. Auction Types and Bidding Methods

"Auction" means the sale or offering of property through competitive bidding using any method, format, or venue, including in-person and electronic bidding.

"Live Auction" or "On-Site Auction" means an Auction conducted with an Auctioneer calling or accepting bids in real time at a designated physical location.

"Live Simulcast Auction" means an Auction in which bidding occurs simultaneously through live in-person participation and one or more electronic bidding platforms.

"Live Virtual Auction" means an Auction conducted in real time through an electronic or online platform without requiring Bidders to be physically present.

"Timed Online Auction" means an Auction conducted electronically during a designated bidding period in which bids are submitted through an online platform and Lots close according to the published schedule, subject to applicable extensions or adjustments.

"Auction With Reserve" means an Auction in which the Seller or authorized representative retains the rights permitted by applicable law to establish a minimum acceptable price, reject bids, or withdraw property before completion of the sale.

"Absolute Auction" or "Auction Without Reserve" means an Auction in which property is offered without a reserve price and must be sold to the highest accepted Bidder, subject to applicable law. Once bidding has been called for on a Lot, the Lot may not be withdrawn unless no bid is received within a reasonable time. Seller bidding is prohibited in an Absolute Auction.

"Reserve Price" means the minimum price or other lawful condition established by the Seller that must be satisfied before a Lot may be sold in an Auction With Reserve.

"Minimum Opening Bid" means the lowest amount at which bidding may begin on a particular Lot. A minimum opening bid does not necessarily constitute the Seller's Reserve Price.

"Bid" means an offer submitted by a Bidder to purchase an Auction Item at a specified price in accordance with the Auction's applicable bidding procedures.

"Bid Increment" means the minimum amount by which a new bid must exceed the current recognized bid, as established by the Auctioneer or bidding platform.

"Maximum Bid" or "Proxy Bid" means the maximum amount a Bidder authorizes an electronic bidding system to bid on the Bidder's behalf, subject to the platform's bidding rules and increments.

"Absentee Bid" means a bid submitted in advance by a Bidder who is not actively participating in the live bidding process, when such bidding is permitted by the Auction Company.

"Floor Bid" means a bid submitted or accepted during a live Auction by a Bidder physically present at the Auction location.

"Online Bid" means a bid submitted through an authorized electronic bidding platform or other approved remote bidding system.

"Tie Bid" means two or more bids submitted or recognized at the same amount. Tie bids shall be resolved in accordance with applicable law, platform rules, and the Auctioneer's lawful discretion.

"Bid Retraction" means the withdrawal of a previously submitted bid before completion of the sale, subject to applicable law and the bidding platform's procedures. Bid retractions do not automatically reinstate previous bids.

"Bid Dispute" means a disagreement concerning bid recognition, bidding order, the identity of the highest Bidder, or the completion of a sale. Such disputes shall be addressed in accordance with applicable law and the Auction Company's published dispute procedures.

"Extended Bidding" or "Soft Close" means an automated feature of a timed online Auction that extends a Lot's scheduled closing time when qualifying bids are received within a designated period before closing.

"Staggered Closing" means the sequential closing of individual Lots or groups of Lots at predetermined intervals rather than all Lots closing simultaneously.

"Auction Closing Time" means the scheduled or actual time at which bidding concludes for an Auction or individual Lot, including any applicable bidding extensions.

"Hammer Price" or "Winning Bid" means the final accepted bid amount for an Auction Item, excluding Buyer's Premium, applicable taxes, handling charges, and other additional fees.

"Sale Completion" means the point at which the Auctioneer announces completion of the sale by the fall of the hammer or another customary method. For electronic Auctions, completion occurs through the platform's recognized closing and sale-confirmation procedures, subject to applicable law and published terms.

C. Auction Property and Catalog Information

"Auction Item" or "Lot" means any individual item, group of items, equipment, vehicle, machinery, personal property, real property interest, or other asset offered for sale as a designated unit in an Auction.

"Lot Number" means the identifying number or designation assigned to an Auction Item for cataloging, bidding, invoicing, and recordkeeping purposes.

"Auction Catalog" means the collection of descriptions, photographs, videos, specifications, Lot numbers, and other information published by the Auction Company concerning property offered for sale.

"Lot Description" means the written or electronic description of an Auction Item, including any stated specifications, identifying information, condition observations, or Seller-provided representations.

"As-Is, Where-Is" means that Auction Items are offered in their existing condition and location, with all faults and defects, subject to applicable law and any express written warranties or representations that cannot lawfully be disclaimed.

"Inspection" or "Preview" means the opportunity provided to prospective Bidders to examine Auction Items before bidding, subject to the Auction Company's published inspection schedule, access restrictions, and safety requirements.

"Condition Report" means any description, statement, photograph, video, or other information regarding an Auction Item's apparent physical or operating condition. Unless expressly stated otherwise, such information is provided for general identification and informational purposes and does not constitute a guarantee or warranty.

"Buyer Due Diligence" means the Bidder's responsibility to independently evaluate an Auction Item before bidding, including its condition, suitability, authenticity, specifications, ownership documentation, legal restrictions, and any other material considerations.

"X Money" or "Times the Money" means a bidding method in which the accepted bid amount is multiplied by the stated quantity of units, pieces, or other designated measurement to determine the total Hammer Price for the Lot.

"Choice Lot" means a bidding arrangement in which the successful Bidder may select one or more items from a designated group under the specific selection and pricing rules announced for that offering.

"Grouped Lot" or "Bulk Lot" means two or more items offered together as one Lot for a single combined purchase.

"Lot Withdrawal" means the removal of an Auction Item from an Auction before completion of its sale, when permitted by applicable law and the terms governing the Auction.

D. Purchase Price, Fees, and Payment

"Buyer's Premium" means an additional charge assessed to the Purchaser, generally calculated as a percentage of the Hammer Price, and added to the purchase amount. Buyer's Premium rates may vary by Auction, bidding method, purchase amount, or other disclosed criteria. The applicable Buyer's Premium shall be identified in the specific Auction listing, published Terms and Conditions, or authorized Auction announcements.

"Total Purchase Price" means the Hammer Price plus the applicable Buyer's Premium, sales tax, handling fees, processing charges, and any other lawful and properly disclosed charges associated with the purchase.

"Invoice" means the billing statement issued to a Purchaser identifying purchased Lots, applicable charges, taxes, payments, and any outstanding balance.

"Payment Deadline" means the date and time by which a Purchaser must pay all amounts due, as established in the applicable Auction Terms and Conditions or Invoice.

"Accepted Payment Method" means a form of payment approved by the Auction Company for a particular Auction, which may include cash, credit card, wire transfer, or other expressly authorized payment methods.

"Processing Fee" means a disclosed charge associated with an authorized payment method or transaction, subject to applicable law and payment network requirements.

"Sales Tax" means any applicable state or local sales or use tax required to be collected in connection with the purchase of taxable Auction Items.

"Tax Exemption Certificate" means a properly completed and legally valid resale, agricultural, timber, or other exemption document accepted under applicable tax law.

"Payment Default" means the Purchaser's failure to pay the full amount due by the applicable Payment Deadline or otherwise fulfill a material payment obligation under this Agreement.

"Chargeback" or "Payment Reversal" means a disputed, reversed, rejected, or otherwise unsuccessful payment transaction initiated through a financial institution, card issuer, or payment processor.

"Nonperforming Purchaser" or "Defaulting Purchaser" means a Purchaser who fails to satisfy applicable payment, pickup, removal, or other material contractual obligations.

E. Pickup, Shipping, and Removal

"Pickup" or "Loadout" means the process by which purchased Auction Items are collected, loaded, and removed from their designated location.

"Removal Deadline" means the final date and time established by the Auction Company for the removal of purchased Auction Items from the Auction location or designated storage facility.

"Buyer-Arranged Removal" means removal performed by the Purchaser or by contractors, representatives, or transportation providers retained by the Purchaser.

"Rigging" means specialized lifting, dismantling, positioning, securing, or transportation preparation required for the removal of machinery, equipment, or other Auction Items.

"Shipping" or "Freight" means the transportation of purchased Auction Items by a third-party carrier or shipping provider, when available and separately arranged or authorized.

"Handling Fee" means a disclosed charge assessed for services such as coordinating, transporting, preparing, or delivering purchased Auction Items to a third-party shipping or freight provider. A Handling Fee does not include freight charges unless expressly stated.

"Storage Fee" means a disclosed charge that may be assessed when purchased Auction Items remain at a designated location beyond the authorized pickup or removal period, subject to applicable law.

"Abandoned Property" means purchased Auction Items that remain uncollected after the applicable Removal Deadline and any legally required notice or waiting period. Any disposition of such property shall be governed by the Agreement and applicable law.

"Risk of Loss" means responsibility for accidental loss, theft, destruction, or damage to Auction Items. The time at which Risk of Loss transfers shall be determined under the applicable provisions of this Agreement and governing law.

"Title Transfer" means the lawful transfer of ownership of an Auction Item from the Seller to the Purchaser, subject to applicable payment requirements, documentation, liens, and governing law.

"Bill of Sale" means a document evidencing a transaction or transfer of property. A Bill of Sale does not necessarily constitute a certificate of title or establish that an item may lawfully be registered.

"Certificate of Title" means an official ownership document issued by an authorized governmental agency for property subject to title requirements, including certain vehicles, trailers, and other regulated assets.

F. Electronic Bidding and Administrative Provisions

"Online Bidding Platform" means any third-party website, software application, or electronic service authorized to facilitate registration, bidding, Auction administration, or purchase transactions.

"Platform Terms" means the separate terms of service, registration rules, privacy policies, bidding procedures, and other conditions established by an Online Bidding Platform.

"Technical Failure" means an interruption, malfunction, outage, connectivity problem, software error, delayed transmission, or other electronic condition affecting access to or operation of an Auction or bidding system.

"Bidder Account" means the registration credentials, identifying information, and related electronic account used to participate in an Auction.

"Bidder Approval" means the Auction Company's or bidding platform's authorization permitting a Registered Bidder to submit bids, subject to applicable eligibility and verification requirements.

"Auction Announcements" means official statements, corrections, modifications, or disclosures issued by the Auction Company or authorized Auction Personnel concerning the Auction or its Lots.

"Applicable Law" means the federal, state, and local statutes, regulations, ordinances, and other legally binding requirements governing the relevant Auction, transaction, property, or parties.

"Business Day" means Monday through Friday, excluding federal holidays and any other holidays expressly identified in the applicable Auction Terms.

"Written Notice" means a communication delivered through an authorized written method, including email, electronic platform messaging, postal mail, or another method permitted by this Agreement and applicable law.

"Force Majeure Event" means an event beyond a party's reasonable control, including severe weather, natural disasters, government restrictions, widespread power failures, or other extraordinary circumstances that materially interfere with Auction operations or contractual performance, subject to the applicable Force Majeure provisions of this Agreement.

"Auction-Specific Terms" means additional or modified terms published for a particular Auction, including Buyer's Premium rates, payment requirements, removal procedures, bidding formats, and other special conditions.

"Agreement" or "Terms and Conditions" means this document together with the applicable Auction-Specific Terms and other provisions expressly incorporated by reference, as lawfully amended or supplemented.

1.4 Interpretation and Enforcement

Unless the context requires otherwise, singular terms include the plural, and references to individuals include legally recognized entities.

Section headings are included for convenience and shall not independently modify the meaning of this Agreement.

The definitions established in Section 1.3 govern the interpretation of terms used throughout this Agreement. Specific rights, remedies, restrictions, and responsibilities shall be governed by the applicable substantive provisions and controlling law.

Acceptance of this Agreement shall be governed by Sections 1.1, 2.2, 12.2, and 12.3.

Auction-Specific Terms and conflicts between general and auction-specific requirements shall be governed by Sections 1.2 and 12.9.

Governing law, jurisdiction, venue, and legal enforcement shall be governed by Section 2.6.

Severability, waiver, and survival of contractual obligations shall be governed by Sections 12.6, 12.7, and 12.8, respectively.

The Auction Company reserves the right to establish reasonable Auction procedures, verify bidder eligibility, and enforce its published Terms and Conditions, subject to applicable law and the rights of participating parties.

Nothing in these Terms and Conditions authorizes conduct prohibited by law or limits a Bidder's or Purchaser's statutory rights that cannot lawfully be waived.

SECTION 2 - BIDDER ELIGIBILITY, AUCTION ADMINISTRATION, LIABILITY, SITE ENTRY, LOADING ASSISTANCE, AND LEGAL ENFORCEMENT

2.1 Bidder Eligibility, Registration, Identification, and Authorized Representation

Participation in any Auction conducted by Kiefer Auctioneers, LLC (the "Auction Company") is limited to individuals who are at least eighteen (18) years of age, possess the legal capacity to enter into binding contracts, and satisfy all applicable registration and eligibility requirements.

Bidder Registration Requirements:

All Bidders must complete the applicable registration process and provide accurate, complete, and current information, including:

• Full legal name or registered business name.
• Valid driver's license or other government-issued photo identification, which must be presented or submitted upon request and as required by the applicable registration process.
• Valid telephone number.
• Current mailing address.
• Valid email address when required for online bidding or electronic communications.
• Any additional identification, verification, or payment information reasonably required by the Auction Company or applicable bidding platform.

The Auction Company reserves the right to verify identity, request additional documentation, and deny or suspend bidding privileges when registration information is incomplete, inaccurate, unverifiable, or otherwise fails to satisfy applicable registration requirements.

Representation and Legal Responsibility:

Any person registering, bidding, or purchasing Auction Items on behalf of another individual, business, corporation, partnership, trust, estate, or other legal entity must possess valid legal authority to act on behalf of that party.

THE AUCTION COMPANY RESERVES THE RIGHT TO REQUIRE A VALID POWER OF ATTORNEY, CORPORATE RESOLUTION, WRITTEN AUTHORIZATION, OR OTHER LEGALLY SUFFICIENT DOCUMENTATION ESTABLISHING THE BIDDER'S AUTHORITY BEFORE APPROVING REGISTRATION OR BIDDING.

When a Power of Attorney is required, it must be legally valid, properly executed, and sufficient for the transaction involved. An original, notarized, or recordable instrument may be required when applicable law or the nature of the transaction requires it.

A corporate or business representative may be required to provide a corporate resolution, written authorization, or other documentation acceptable to the Auction Company confirming authority to register, bid, purchase property, and bind the represented entity.

ANY PERSON WHO REGISTERS OR BIDS ON BEHALF OF ANOTHER PARTY WITHOUT ACTUAL AUTHORITY, OR WHO FALSELY REPRESENTS THAT THEY POSSESS SUCH AUTHORITY, SHALL BE RESPONSIBLE FOR LOSSES AND DAMAGES RESULTING FROM THAT UNAUTHORIZED CONDUCT TO THE EXTENT PERMITTED BY LAW.

Where the Auction Company has not approved an agency relationship or entity registration, the individual registering and bidding may be treated as the contracting Bidder and Purchaser, subject to applicable law.

Approval of an authorized representative does not relieve the represented Purchaser of valid payment, removal, or other contractual obligations.

Bidder Representations and Warranties:

By registering for an Auction, each Bidder represents and warrants that:

• The Bidder is at least eighteen (18) years of age.
• The Bidder possesses the legal capacity to enter into binding contractual obligations.
• All registration information provided is accurate and current.
• The Bidder has the legal authority to purchase the Auction Items on which they bid.
• The Bidder is not prohibited by applicable law from purchasing or possessing the Auction Items.
• The Bidder agrees to comply with all applicable Auction rules, payment requirements, inspection procedures, and removal obligations.

Approval, Suspension, and Revocation of Bidding Privileges:

The Auction Company reserves the right, in its reasonable discretion and subject to applicable law, to approve, deny, suspend, or revoke bidding privileges, including when:

• Registration information cannot be verified.
• Required identification or authorization documentation is not provided.
• Payment obligations remain outstanding.
• Fraudulent or unauthorized activity is suspected.
• A Bidder has previously violated Auction Terms and Conditions.
• A Bidder engages in unsafe, unlawful, or disruptive conduct.

Registration approval does not guarantee continued bidding privileges.

Suspension or revocation of bidding privileges does not eliminate valid contractual obligations arising from completed Auction purchases.

2.2 Agreement to Terms and Conditions:

As established in Section 1.1, by completing the applicable registration process and affirmatively accepting these Terms and Conditions, each Bidder acknowledges and agrees to be legally bound by this Agreement and all applicable Auction-Specific Terms, regardless of whether the Bidder subsequently places a bid or completes a purchase.

These Terms and Conditions apply to all Auctions conducted by Kiefer Auctioneers, LLC, including live on-site Auctions, live simulcast Auctions, live virtual Auctions, timed online Auctions, and other authorized bidding formats.

The Terms and Conditions are made available through one or more of the following:

• The Auction Company's website at www.kieferauctions.com.
• The applicable online bidding platform, including Proxibid or BidSpotter.
• The designated Auction location, when applicable.
• Direct request to the Auction Company.

Copies may be requested by contacting:

Kiefer Auctioneers, LLC

Email: [email protected] or [email protected]

Phone: (940) 391-9111 or (903) 821-8717

Each Bidder is responsible for reviewing the Terms and Conditions before participating in an Auction. Failure to read the Terms and Conditions does not, by itself, excuse compliance with provisions to which the Bidder has validly agreed.

2.3 Auction Company's Role, Authority, Clerical Errors, and Limitation of Liability

Agency Relationship:

Unless expressly disclosed otherwise in writing, the Auction Company acts as an authorized agent or representative of the Seller in arranging, marketing, and facilitating the sale of Auction Items.

The Auction Company is not the owner or Seller of Auction Items unless expressly identified as such.

The Auction Company may act in its own capacity when administering bidder registration, collecting payments, enforcing Auction Terms and Conditions, and performing other services associated with the Auction.

Auction Administration and Authority:

Subject to applicable law, the Auction Company reserves the right to:

• Establish and enforce reasonable Auction procedures.
• Verify bidder eligibility and registration information.
• Reject or suspend bidding privileges for legitimate business, security, or compliance reasons.
• Correct clerical, mathematical, cataloging, invoicing, and administrative errors.
• Resolve bidding disputes in accordance with applicable law.
• Postpone, reschedule, suspend, or cancel an Auction when reasonably necessary.
• Modify Auction procedures or schedules before completion of the affected sale, subject to applicable law and adequate notice.
• Withdraw Auction Items when permitted by applicable law, including restrictions applicable to Absolute Auctions.

Clerical, Human, Cataloging, and Administrative Errors:

The Auction Company makes reasonable efforts to maintain accurate Auction records, descriptions, photographs, invoices, bidding information, and other Auction-related documentation. However, clerical, typographical, mathematical, administrative, technological, and human errors may occur.

Such errors may include, without limitation:

• Incorrect Lot numbers, descriptions, quantities, or catalog information.
• Typographical errors, omissions, or inaccurate specifications.
• Incorrect photographs, videos, or item associations.
• Errors in bidder identification or registration records.
• Errors in bid entry, recording, transmission, or display.
• Incorrect Buyer's Premium calculations, sales tax, fees, or invoice totals.
• Duplicate charges, omitted charges, or payment-processing discrepancies.
• Incorrect announcements, scheduling information, or administrative communications.

THE AUCTION COMPANY RESERVES THE RIGHT TO CORRECT DEMONSTRABLE CLERICAL, MATHEMATICAL, HUMAN, OR ADMINISTRATIVE ERRORS AND TO ISSUE CORRECTED RECORDS OR INVOICES WHEN REASONABLY NECESSARY.

Corrections shall not authorize the Auction Company to unilaterally change a lawfully completed Hammer Price, impose undisclosed fees, or alter material terms of a completed sale contrary to applicable law.

Purchasers remain responsible for valid, properly documented amounts due under the applicable Auction Terms and Conditions.

Failure to pay a lawful, properly established corrected balance by the applicable payment deadline, or within a reasonable period stated in a corrected invoice, may constitute Payment Default.

Limitation of Liability:

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE AUCTION COMPANY SHALL NOT BE LIABLE FOR LOSSES OR DAMAGES ARISING FROM THE ACTS OR OMISSIONS OF INDEPENDENT THIRD PARTIES, UNDISCLOSED DEFECTS IN AUCTION ITEMS, INACCURATE SELLER-PROVIDED INFORMATION, OR EVENTS BEYOND THE AUCTION COMPANY'S REASONABLE CONTROL, EXCEPT TO THE EXTENT SUCH LIABILITY CANNOT LAWFULLY BE EXCLUDED.

THE AUCTION COMPANY DOES NOT GUARANTEE THAT AUCTION SERVICES, BIDDING PLATFORMS, COMMUNICATION SYSTEMS, PAYMENT PROCESSING, OR OTHER SERVICES WILL BE FREE FROM ERRORS OR INTERRUPTIONS.

Nothing in this Agreement shall exclude liability for gross negligence, fraud, willful misconduct, or other liability that cannot lawfully be waived or limited.

2.4 Indemnification, Assumption of Risk, Site Entry, Loading Assistance, and Responsibility for Participants

Applicability and Scope:

This section applies to all Bidders and Purchasers who enter Auction Premises or participate in Auction-related activities, including inspection, preview, bidding, pickup, dismantling, loading, transportation preparation, and removal.

For purposes of this section, "Auction Premises" includes any Auction facility, Seller's property, commercial or industrial facility, warehouse, farm, ranch, storage area, loading area, parking area, or other property used for Auction-related activities.

The provisions of this section also establish contractual obligations concerning employees, agents, representatives, guests, drivers, transportation providers, independent contractors, subcontractors, rigging personnel, and equipment operators engaged or authorized by Bidders or Purchasers.

Acknowledgment and Assumption of Risk:

BY REGISTERING FOR AN AUCTION AND VOLUNTARILY ENTERING OR PARTICIPATING IN ACTIVITIES ON AUCTION PREMISES, EACH BIDDER AND PURCHASER ACKNOWLEDGES THAT AUCTION LOCATIONS MAY CONTAIN KNOWN AND UNKNOWN HAZARDS THAT CAN RESULT IN SERIOUS BODILY INJURY, PERMANENT DISABILITY, DEATH, OR PROPERTY DAMAGE.

Such hazards may include, without limitation:

• Operating or nonoperating machinery, vehicles, forklifts, cranes, lifts, tractors, trailers, and other heavy equipment.
• Moving equipment, suspended loads, unsecured materials, and falling or shifting objects.
• Uneven ground, damaged flooring, loading docks, ramps, open pits, and elevated surfaces.
• Electrical systems, exposed wiring, stored mechanical energy, and pressurized equipment.
• Industrial chemicals, fuels, oils, batteries, compressed gases, and potentially hazardous materials.
• Sharp objects, exposed metal, debris, deteriorated structures, and unstable materials.
• Dust, fumes, noise, slippery surfaces, limited visibility, and adverse weather conditions.
• Vehicle and pedestrian traffic, including commercial trucks and loading equipment.
• Dismantling, lifting, rigging, loading, securing, and transporting Auction Items.

Each Bidder and Purchaser voluntarily assumes the inherent and ordinary risks associated with entering Auction Premises and participating in authorized Auction-related activities, subject to the express release and limitations set forth below.

EXPRESS RELEASE OF LIABILITY FOR ORDINARY NEGLIGENCE:

IMPORTANT NOTICE: THIS AGREEMENT CONTAINS AN EXPRESS RELEASE OF LIABILITY FOR THE ORDINARY NEGLIGENCE OF KIEFER AUCTIONEERS, LLC AND OTHER IDENTIFIED RELEASED PARTIES.

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE TEXAS LAW, EACH BIDDER AND PURCHASER KNOWINGLY AND VOLUNTARILY RELEASES KIEFER AUCTIONEERS, LLC, ITS OWNERS, OFFICERS, EMPLOYEES, AGENTS, AUTHORIZED REPRESENTATIVES, AND CONTRACTORS ACTING ON ITS BEHALF, TOGETHER WITH THE APPLICABLE SELLER AND PREMISES OWNER (COLLECTIVELY, THE "RELEASED PARTIES"), FROM CLAIMS FOR BODILY INJURY, DEATH, OR PROPERTY DAMAGE ARISING FROM THE ORDINARY NEGLIGENCE OF ANY RELEASED PARTY, INCLUDING THAT PARTY'S OWN SOLE, JOINT, CONCURRENT, ACTIVE, OR PASSIVE ORDINARY NEGLIGENCE, IN CONNECTION WITH AUCTION-RELATED ACTIVITIES.

THIS RELEASE EXPRESSLY INCLUDES CLAIMS ARISING FROM ORDINARY NEGLIGENCE DURING INSPECTION, SITE ENTRY, EQUIPMENT OPERATION, LOADING ASSISTANCE, LIFTING, RIGGING, DISMANTLING, SECURING, TRANSPORTATION PREPARATION, AND REMOVAL OF AUCTION ITEMS.

THIS RELEASE DOES NOT APPLY TO GROSS NEGLIGENCE, FRAUD, WILLFUL MISCONDUCT, OR ANY OTHER LIABILITY THAT CANNOT LAWFULLY BE RELEASED.

This release binds only persons who have validly accepted it or are otherwise legally bound by it.

Courtesy Loading Assistance - Voluntary Service:

The Auction Company, Seller, Premises Owner, or their respective employees, agents, or authorized contractors may, at their discretion, offer assistance with moving, lifting, positioning, or loading purchased Auction Items.

ALL LOADING ASSISTANCE IS PROVIDED SOLELY AS A VOLUNTARY COURTESY OR CONVENIENCE TO THE PURCHASER AND IS NOT A GUARANTEED SERVICE OR CONDITION OF SALE, UNLESS EXPRESSLY AGREED OTHERWISE IN WRITING.

The Purchaser acknowledges and agrees that:

• Loading assistance is optional and may be accepted or declined by the Purchaser.
• The Purchaser may arrange and perform their own loading and removal using appropriate equipment, personnel, and methods, subject to applicable site rules, safety requirements, and authorization.
• The Purchaser is responsible for determining whether the equipment, personnel, lifting methods, and loading arrangements are appropriate for the purchased Auction Items.
• The Purchaser is responsible for identifying fragile, unstable, oversized, unusually heavy, improperly balanced, or otherwise hazardous Auction Items before loading begins.
• The Purchaser is responsible for communicating any known special handling requirements.
• The Purchaser is responsible for inspecting the condition, positioning, and stability of purchased Auction Items before accepting a load for transportation.
• The Purchaser is responsible for providing or arranging appropriate trailers, vehicles, straps, chains, binders, blocking, bracing, and other equipment necessary to secure and transport purchased Auction Items.
• The Purchaser remains responsible for ensuring that the load complies with applicable transportation, weight, dimensional, and cargo-securement requirements.
• The Auction Company may decline, discontinue, or suspend loading assistance when equipment, personnel, site conditions, or safety considerations make assistance inappropriate.

Loading assistance, when offered, is limited to the designated removal dates and hours and is subject to available equipment, manufacturer-rated lifting capacities, load weight and dimensions, site conditions, personnel availability, and the Auction Company's safety determinations.

THE AUCTION COMPANY RESERVES THE RIGHT TO REFUSE, SUSPEND, OR DISCONTINUE LOADING ASSISTANCE AT ANY TIME WHEN THE REQUESTED ACTIVITY EXCEEDS AVAILABLE EQUIPMENT CAPACITY, PRESENTS AN UNREASONABLE SAFETY RISK, OR CANNOT BE PERFORMED WITH AVAILABLE PERSONNEL OR EQUIPMENT.

Any additional labor, machinery, rigging, transportation, permits, or specialized equipment required for removal shall be arranged and paid for by the Purchaser unless expressly agreed otherwise in writing.

EXPRESS RELEASE FOR LOADING ASSISTANCE AND ORDINARY NEGLIGENCE:

THE PURCHASER EXPRESSLY ACKNOWLEDGES THAT ACCEPTING VOLUNTARY LOADING ASSISTANCE MAY INVOLVE RISKS OF DAMAGE TO PURCHASED AUCTION ITEMS, VEHICLES, TRAILERS, OR OTHER PROPERTY, AS WELL AS RISKS OF PERSONAL INJURY OR DEATH.

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE PURCHASER KNOWINGLY AND VOLUNTARILY ASSUMES THESE RISKS AND RELEASES THE RELEASED PARTIES FROM CLAIMS ARISING FROM THE ORDINARY NEGLIGENCE OF THE RELEASED PARTIES, INCLUDING THEIR OWN SOLE, JOINT, CONCURRENT, ACTIVE, OR PASSIVE ORDINARY NEGLIGENCE, IN PROVIDING OR PARTICIPATING IN VOLUNTARY LOADING ASSISTANCE.

THIS RELEASE EXPRESSLY INCLUDES ORDINARY-NEGLIGENCE CLAIMS ARISING FROM DROPPED, SHIFTED, OVERTURNED, SCRATCHED, DENTED, BENT, BROKEN, OR OTHERWISE DAMAGED AUCTION ITEMS; DAMAGE TO VEHICLES OR TRAILERS; IMPROPER POSITIONING OR HANDLING OF LOADS; AND ORDINARY-NEGLIGENCE ERRORS IN THE OPERATION OF FORKLIFTS, TRACTORS, SKID STEERS, CRANES, OR OTHER LOADING EQUIPMENT.

THE PURCHASER UNDERSTANDS THAT LOADING ASSISTANCE IS OPTIONAL, THAT THE PURCHASER MAY DECLINE SUCH ASSISTANCE AND ARRANGE AUTHORIZED SELF-LOADING OR THIRD-PARTY LOADING, AND THAT ACCEPTANCE OF VOLUNTARY ASSISTANCE IS SUBJECT TO THE EXPRESS ORDINARY-NEGLIGENCE RELEASE ABOVE.

THIS RELEASE DOES NOT APPLY TO GROSS NEGLIGENCE, FRAUD, WILLFUL MISCONDUCT, OR LIABILITY THAT CANNOT LAWFULLY BE WAIVED.

Buyer Responsibility for Loading, Securing, and Transportation:

Regardless of whether loading assistance is provided, the Purchaser remains responsible for arranging appropriate loading and removal, selecting suitable transportation equipment, inspecting the load, and ensuring that purchased Auction Items are properly secured before transportation.

The Auction Company does not guarantee that loading assistance will be available or that any particular item can be safely loaded using equipment available at the Auction location.

Unless expressly agreed otherwise in writing, any assistance provided with lifting, positioning, or loading does not constitute an agreement by the Auction Company to provide professional rigging, transportation, freight, cargo-securement, or engineering services.

The Purchaser is responsible for obtaining any specialized equipment, licensed personnel, permits, or transportation arrangements required for lawful removal.

Indemnification and Defense Obligations:

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, EACH BIDDER AND PURCHASER AGREES TO INDEMNIFY, DEFEND, AND HOLD HARMLESS THE AUCTION COMPANY, ITS OWNERS, OFFICERS, EMPLOYEES, AGENTS, AUTHORIZED REPRESENTATIVES, THE APPLICABLE SELLER, AND PREMISES OWNER (COLLECTIVELY, THE "INDEMNIFIED PARTIES") FROM THIRD-PARTY CLAIMS, DAMAGES, LOSSES, LIABILITIES, AND REASONABLE LEGAL EXPENSES TO THE EXTENT CAUSED BY:

• The negligent, reckless, wrongful, or unlawful conduct of the Bidder or Purchaser.
• The conduct of employees, agents, contractors, drivers, rigging personnel, or other persons engaged or authorized by the Bidder or Purchaser.
• Improper inspection, handling, operation, dismantling, loading, securing, transportation, or removal of Auction Items.
• Damage to Auction Premises, buildings, utilities, fixtures, equipment, vehicles, or other property caused by the Bidder, Purchaser, or persons acting on their behalf.
• Failure to comply with applicable site safety requirements, removal procedures, or lawful instructions.
• Material violations of these Terms and Conditions.

THIS INDEMNIFICATION PROVISION DOES NOT REQUIRE A BIDDER OR PURCHASER TO INDEMNIFY AN INDEMNIFIED PARTY FOR THAT INDEMNIFIED PARTY'S OWN NEGLIGENCE, GROSS NEGLIGENCE, FRAUD, OR WILLFUL MISCONDUCT.

Responsibility for Guests, Employees, Drivers, and Contractors:

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, EACH BIDDER AND PURCHASER SHALL BE CONTRACTUALLY RESPONSIBLE FOR REQUIRING COMPLIANCE WITH APPLICABLE AUCTION RULES, SITE SAFETY REQUIREMENTS, AND REMOVAL PROCEDURES BY ALL EMPLOYEES, AGENTS, REPRESENTATIVES, GUESTS, DRIVERS, TRANSPORTATION PROVIDERS, INDEPENDENT CONTRACTORS, SUBCONTRACTORS, RIGGING PERSONNEL, EQUIPMENT OPERATORS, AND OTHER PERSONS THE BIDDER OR PURCHASER HIRES, RETAINS, DIRECTS, AUTHORIZES, OR ARRANGES TO ENTER AUCTION PREMISES OR PERFORM AUCTION-RELATED SERVICES.

Each Bidder and Purchaser is responsible for:

• Selecting and retaining appropriately qualified personnel and contractors.
• Communicating applicable Auction rules and removal deadlines.
• Requiring compliance with site safety procedures and equipment restrictions.
• Ensuring that persons performing specialized work possess required licenses, qualifications, and insurance.
• Fulfilling the Purchaser's contractual payment and removal obligations regardless of whether third parties are retained.
• Paying reasonable costs of repairing property damage caused by the Bidder, Purchaser, or persons engaged or authorized by them, to the extent permitted by law.

The use of independent contractors or transportation providers does not relieve the Purchaser of the Purchaser's own contractual obligations.

Any third-party mover, machinery removal contractor, rigger, transportation provider, or equipment operator independently retained by the Purchaser acts on behalf of the Purchaser and not as an employee or agent of the Auction Company, Seller, or Auction Premises Owner, unless expressly agreed otherwise in writing.

The Purchaser is responsible for ensuring that such persons comply with all applicable Auction rules, removal deadlines, site-access restrictions, and safety requirements.

THE PURCHASER SHALL BE RESPONSIBLE FOR REASONABLE AND LEGALLY RECOVERABLE REPAIR, RESTORATION, CLEANUP, AND RELATED EXPENSES TO THE EXTENT CAUSED BY THE PURCHASER'S WRONGFUL OR NEGLIGENT CONDUCT OR THE CONDUCT OF PERSONS FOR WHOM THE PURCHASER IS LEGALLY RESPONSIBLE.

Engaging a third-party contractor does not extend the Removal Deadline or relieve the Purchaser of any contractual payment, removal, or other obligations.

Site-Entry Acknowledgment and Third-Party Access:

Each Bidder and Purchaser acknowledges that acceptance of these Terms and Conditions does not, by itself, constitute a personal release of liability by a separate guest, driver, independent contractor, or other third party.

The Bidder or Purchaser shall communicate applicable site hazards, access restrictions, and safety requirements to persons entering Auction Premises on their behalf.

The Auction Company reserves the right to require individual acknowledgment of applicable site-entry terms, including a conspicuous release of claims arising from ordinary negligence, to the extent permitted by law.

NO PERSON SHALL HAVE AN AUTOMATIC RIGHT TO ENTER AUCTION PREMISES, OPERATE EQUIPMENT, OR PERFORM LOADING OR REMOVAL ACTIVITIES SOLELY BECAUSE A BIDDER OR PURCHASER HAS REGISTERED FOR AN AUCTION OR PURCHASED AN AUCTION ITEM.

The Auction Company may deny, restrict, suspend, or revoke access when reasonably necessary for safety, security, legal compliance, or protection of property.

Heavy Equipment, Forklifts, Cranes, and Rigging Operations:

Bidders and Purchasers are responsible for determining the personnel, equipment, tools, transportation, and specialized services necessary to safely remove purchased Auction Items.

Unless expressly authorized by the Auction Company or Premises Owner, no Bidder, Purchaser, or representative may operate, move, start, test, disconnect, dismantle, or otherwise use machinery or equipment located on Auction Premises.

All forklifts, cranes, lifts, rigging equipment, trucks, trailers, and other loading equipment must be operated by appropriately trained, qualified, and legally authorized personnel.

The Auction Company may require proof of operator qualifications, insurance, and other documentation reasonably necessary for high-risk removal activities.

Dismantling, Utility Disconnection, and Property Protection:

Purchasers are responsible for arranging qualified personnel and appropriate equipment for dismantling, disassembly, disconnection, and removal activities.

No Purchaser or representative may disconnect electrical, gas, plumbing, compressed air, hydraulic, refrigeration, or other utility systems without prior authorization.

Work requiring licensed tradespersons, specialized training, or permits must be performed by appropriately qualified persons.

Purchasers must protect buildings, flooring, loading docks, utilities, fixtures, and surrounding property from damage during removal.

Site Safety and Restricted Areas:

All persons entering Auction Premises must comply with posted safety requirements and reasonable instructions issued by authorized Auction Personnel.

The Auction Company may require appropriate personal protective equipment and may restrict access to hazardous, secured, or operational areas.

Unsafe conduct, unauthorized equipment operation, and interference with active loading or removal activities are prohibited.

Contractor Insurance:

The Auction Company may require contractors performing significant dismantling, lifting, rigging, loading, or removal operations to provide evidence of insurance appropriate to the work being performed.

Applicable insurance requirements may include commercial general liability, automobile liability, workers' compensation where required by law, or other coverage appropriate to the particular activity.

Any specific insurance requirements shall be communicated before the affected work is authorized.

For significant machinery removal, industrial dismantling, crane operations, specialized rigging, or other high-risk activities, the Auction Company may require the Purchaser's contractor to name Kiefer Auctioneers, LLC, the applicable Seller, and the Auction Premises Owner as additional insureds on applicable commercial general liability policies.

Such requirements must be communicated before the affected work is authorized and are subject to the availability and terms of the applicable insurance coverage.

When required, the contractor must provide a certificate of insurance and evidence of the applicable additional-insured endorsement before commencing work.

THE AUCTION COMPANY MAY DENY OR SUSPEND ACCESS TO CONTRACTORS WHO FAIL TO SATISFY APPLICABLE INSURANCE, QUALIFICATION, OR SAFETY REQUIREMENTS.

A certificate of insurance alone does not establish additional-insured status unless the applicable policy or endorsement provides that coverage.

Incident Reporting:

Accidents, injuries, property damage, equipment failures, or other significant safety incidents occurring on Auction Premises must be promptly reported to Auction Personnel.

Nothing in this provision restricts any person's right to seek emergency assistance, report an incident to authorities, or exercise legally protected rights.

Continuing Obligations:

The obligations established in this section shall survive completion of an Auction, payment, pickup, and removal to the extent they concern activities, conduct, or events occurring during the period governed by this Agreement.

All releases, indemnification provisions, and liability limitations shall apply only to the fullest extent permitted by applicable law.

2.5 Auction Announcements, Corrections, and Technical Issues

Auction Announcements:

The Auction Company may issue announcements, corrections, clarifications, or updates concerning Auction Items, bidding procedures, inspection arrangements, payment requirements, or removal instructions.

Lawful announcements made before completion of the affected sale may supplement or supersede previously published information to the extent clearly communicated to affected Bidders and permitted by applicable law.

Announcements shall not retroactively alter material terms of a completed sale without a lawful basis or agreement of the affected parties.

Material changes to online Auction terms should be communicated through the applicable bidding platform or another method reasonably calculated to provide notice to affected Bidders.

Technical Issues and Online Bidding:

Online bidding may be provided through third-party platforms and electronic services that can experience interruptions, transmission delays, connectivity failures, software malfunctions, or other Technical Failures.

Bidders are responsible for maintaining suitable internet access, compatible equipment, and current registration information.

The Auction Company does not guarantee that every electronic bid will be received, transmitted, displayed, or processed without interruption.

In the event of a material Technical Failure, the Auction Company may, to the extent permitted by applicable law and platform procedures:

• Temporarily suspend or delay bidding.
• Extend an Auction or individual Lot closing time.
• Reopen bidding when legally permissible.
• Reschedule an affected Auction or Lot.
• Take other reasonable corrective measures to preserve the integrity of the bidding process.

Any corrective action remains subject to applicable law, including restrictions concerning completed sales and Absolute Auctions.

Technical Support:

Bidders experiencing technical difficulties should promptly contact the applicable bidding platform's technical support department.

Proxibid Support - United States: (877) 505-7770 - International: +1 (402) 505-7770

For BidSpotter or other authorized platforms, Bidders should use the technical support information published on the applicable platform.

Contacting technical support does not automatically extend bidding deadlines, cancel submitted bids, or relieve a Purchaser of obligations arising from a completed sale.

2.6 Governing Law, Jurisdiction, and Legal Enforcement

Governing Law:

This Agreement and disputes arising from Auctions conducted by Kiefer Auctioneers, LLC shall be governed by and construed in accordance with the laws of the State of Texas, without regard to conflict-of-law principles, except where mandatory law requires otherwise.

Jurisdiction and Venue:

TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH BIDDER AND PURCHASER AGREES THAT ANY LAWSUIT ARISING OUT OF OR RELATING TO THIS AGREEMENT, AN AUCTION, OR AN AUCTION PURCHASE SHALL BE BROUGHT EXCLUSIVELY IN A COURT OF COMPETENT JURISDICTION LOCATED IN DENTON COUNTY, TEXAS.

Each Bidder and Purchaser consents to the personal jurisdiction of such courts and waives objections to the selected venue based on inconvenience or lack of personal jurisdiction, to the extent enforceable under applicable law.

Nothing in this provision overrides mandatory jurisdictional or venue requirements established by applicable law.

Enforcement of Contractual Obligations:

The Auction Company reserves the right to pursue lawful remedies for a Bidder's or Purchaser's material breach of this Agreement, including unpaid purchase balances, properly assessed charges, property damage, and other recoverable losses.

Recovery of attorney's fees, court costs, collection expenses, or other enforcement costs shall be subject to applicable law and the specific remedies authorized by this Agreement.

Continuing Obligations:

Termination of bidding privileges or completion of an Auction shall not automatically extinguish valid payment obligations, accrued liabilities, indemnification obligations, or other provisions intended to survive completion of the transaction.

Severability:

If any provision of this Agreement is held invalid, unlawful, or unenforceable by a court of competent jurisdiction, the remaining provisions shall continue in effect to the extent permitted by law.

No Waiver:

The Auction Company's failure or delay in enforcing any provision of this Agreement shall not, by itself, constitute a waiver of the right to enforce that provision in the future.

Any waiver must be authorized by the Auction Company and shall apply only to the specific matter for which it is given.

SECTION 3 - BIDDING PROCEDURES, MAXIMUM BIDS, AND AUCTION RESULTS

3.1 Binding Nature of Bids

By registering for and participating in an Auction, each Bidder acknowledges that placing a bid constitutes an offer to purchase the applicable Auction Item in accordance with these Terms and Conditions and the applicable Auction-Specific Terms.

Bidders are responsible for reviewing all applicable Auction information, including descriptions, bidding increments, Buyer's Premium, payment requirements, removal deadlines, and additional charges before bidding.

ALL BIDS ARE INTENDED TO BE BINDING AND MAY NOT BE RETRACTED OR CANCELED EXCEPT AS REQUIRED BY APPLICABLE LAW OR EXPRESSLY AUTHORIZED BY THE AUCTION COMPANY IN ACCORDANCE WITH APPLICABLE LAW.

3.2 Live Auction Bidding

In a Live Auction, a sale is completed when the Auctioneer announces the Auction Item as "Sold," ordinarily by the fall of the hammer or another customary announcement.

ONCE AN AUCTION ITEM IS LAWFULLY DECLARED "SOLD," THE SUCCESSFUL BIDDER ENTERS INTO A BINDING CONTRACTUAL OBLIGATION TO PURCHASE THE ITEM.

The Auctioneer reserves the right to determine bidding increments, recognize bids, reject bids for legitimate reasons, and resolve disputes in accordance with applicable law.

3.3 Online Timed Auction Bidding

In an Online Timed Auction, bids are submitted through the designated online bidding platform.

A sale is completed when the applicable Lot closes and the winning bid is accepted or confirmed in accordance with the Auction rules and applicable law.

A SUCCESSFUL ONLINE BID CONSTITUTES A BINDING CONTRACTUAL OBLIGATION TO PURCHASE THE AUCTION ITEM UPON LAWFUL COMPLETION OF THE SALE.

The Auction Company may issue winning-bid notifications by email, platform notification, invoice, or other authorized communication.

Failure to receive a notification does not, by itself, cancel an otherwise lawfully completed sale or excuse payment.

3.4 Live Simulcast Auction Bidding

In a Live Simulcast Auction, onsite and online Bidders may compete for the same Auction Items.

Online bids are transmitted through the designated bidding platform and are subject to the platform's technical operation, transmission timing, and applicable Auction procedures.

The Auctioneer retains authority to recognize bids and determine the accepted winning bid, subject to applicable law.

THE AUCTIONEER'S LAWFUL DECLARATION OF "SOLD" ESTABLISHES THE COMPLETION OF THE SALE AND THE SUCCESSFUL PURCHASER'S BINDING PURCHASE OBLIGATION.

3.5 Maximum Bids in Online Timed Auctions

In an Online Timed Auction, Bidders may have the option to submit a maximum bid representing the highest amount they authorize the bidding platform to bid on their behalf.

Where supported by the platform, the automated bidding system may place incremental bids up to the Bidder's authorized maximum, according to the platform's bidding rules.

BY SUBMITTING A MAXIMUM BID, THE BIDDER AUTHORIZES THE PLATFORM TO PLACE BIDS ON THE BIDDER'S BEHALF UP TO THE SPECIFIED MAXIMUM AMOUNT.

The Bidder remains responsible for all bids properly submitted through this process.

The platform's rules govern bid increments, competing maximum bids, priority of earlier bids, and other automated bidding procedures.

3.6 Maximum Bids in Live Simulcast Auctions

Where supported by the designated platform, Bidders may submit maximum bids before or during a Live Simulcast Auction.

The platform may submit bids on the Bidder's behalf, subject to the applicable bidding increments, transmission timing, platform functionality, and Auctioneer's recognition of bids.

A MAXIMUM BID DOES NOT GUARANTEE THAT THE BIDDER WILL WIN THE AUCTION ITEM.

An onsite Bidder, another online Bidder, or a previously submitted competing maximum bid may prevail under the applicable platform and Auction procedures.

The Auctioneer's lawful determination of the accepted winning bid shall control, subject to applicable law.

3.7 Maximum Bid Examples and Platform Variations

For illustration only, a Bidder who submits a maximum bid of $500 may initially become the leading Bidder at a lower amount if the platform permits incremental proxy bidding.

As competing bids are received, the platform may increase that Bidder's standing bid up to the authorized $500 maximum.

The actual bid amounts, increments, priority rules, and treatment of tied bids depend upon the designated platform.

EXAMPLES DO NOT OVERRIDE THE PLATFORM'S ACTUAL BIDDING RULES OR GUARANTEE A PARTICULAR BIDDING RESULT.

3.8 Bidder Responsibility for Maximum Bids

Bidders are solely responsible for reviewing the amount and accuracy of all maximum bids before submission.

A maximum bid may result in a binding purchase at any amount up to the authorized maximum, subject to the applicable platform rules.

BIDDERS MUST NOT SUBMIT A MAXIMUM BID UNLESS THEY ARE PREPARED TO PURCHASE THE AUCTION ITEM AT THAT AMOUNT, PLUS THE APPLICABLE BUYER'S PREMIUM, TAXES, AND OTHER PROPERLY DISCLOSED CHARGES.

A Bidder's misunderstanding of maximum bidding, bid increments, or automated bidding procedures does not, by itself, excuse a binding purchase obligation.

3.9 Maximum Bid Confidentiality

The Auction Company will handle maximum-bid information in accordance with applicable law and the designated platform's rules and functionality.

Maximum-bid amounts may be visible to authorized platform personnel or other persons as permitted by the platform's system and policies.

THE AUCTION COMPANY DOES NOT GUARANTEE ABSOLUTE CONFIDENTIALITY OF MAXIMUM-BID INFORMATION BEYOND THE PROTECTIONS PROVIDED BY THE APPLICABLE PLATFORM AND LAW.

The Auction Company prohibits unlawful manipulation, fraudulent bidding, and other prohibited bidding practices.

3.10 Bid Retractions, Mistakes, and Corrections

Bidders are responsible for ensuring that bids are accurate before submission.

Requests to retract or correct bids must be submitted promptly and are subject to applicable law, platform rules, and the Auction Company's lawful authority.

A BIDDER'S CLAIM OF ACCIDENTAL BIDDING, MISUNDERSTANDING OF THE AUCTION PROCESS, FAILURE TO READ THE TERMS, OR CHANGE OF MIND DOES NOT AUTOMATICALLY CREATE A RIGHT TO RETRACT A BID OR CANCEL A COMPLETED PURCHASE.

Nothing in this section eliminates legally protected remedies for qualifying mistakes, platform errors, fraud, or other circumstances in which applicable law requires relief.

3.11 Bidding Disputes and Technical Discrepancies

The Auctioneer may resolve bidding disputes, determine whether a bid was properly received or accepted, and take other lawful action necessary to administer the Auction.

Platform records, bid histories, timestamps, and other available evidence may be considered when resolving disputes.

The Auction Company may consult the designated bidding platform regarding technical issues, bid transmission, automated bidding, or system records.

THE AUCTIONEER'S GOOD-FAITH DETERMINATION SHALL CONTROL TO THE EXTENT PERMITTED BY APPLICABLE LAW AND THE PLATFORM'S GOVERNING PROCEDURES.

Nothing in this provision eliminates statutory rights or remedies.

3.12 Internet Connectivity and Technical Issues

Online bidding depends upon internet connectivity, electronic systems, third-party platforms, and other technology.

Bidders acknowledge that technical delays, connectivity failures, software errors, or interrupted transmissions may occur.

The Auction Company does not guarantee uninterrupted access to any bidding platform.

To the fullest extent permitted by applicable law, the Auction Company is not responsible for losses arising solely from technical failures outside its reasonable control.

The Auction Company reserves the right, when legally permitted and reasonably necessary, to pause, extend, postpone, or otherwise address an Auction affected by material technical problems.

3.13 Winning Bid Notifications and Invoices

Successful Bidders may receive confirmation of their purchases through the designated online bidding platform, email, invoice, or other authorized communication.

PURCHASERS ARE EXPRESSLY ADVISED TO CHECK THEIR INBOX, JUNK, SPAM, AND OTHER EMAIL FILTERING FOLDERS FOR INVOICES AND AUCTION-RELATED COMMUNICATIONS FROM [email protected] or [email protected].

Purchasers are encouraged to add both email addresses to their approved contacts or safe-sender lists to help prevent important Auction-related communications from being filtered, blocked, or overlooked.

Purchasers are responsible for ensuring that the email address provided during registration is accurate, current, and capable of receiving communications from the Auction Company.

FAILURE TO RECEIVE, LOCATE, OPEN, OR REVIEW AN EMAIL, INVOICE, OR AUTOMATED NOTIFICATION, INCLUDING COMMUNICATIONS DIRECTED TO A SPAM OR JUNK FOLDER, DOES NOT, BY ITSELF, RELIEVE A SUCCESSFUL BIDDER OF A LAWFULLY COMPLETED PURCHASE OBLIGATION OR EXTEND ANY APPLICABLE PAYMENT OR REMOVAL DEADLINE.

Purchasers remain solely responsible for monitoring Auction results, confirming successful purchases, obtaining their invoices, making timely payment, and complying with all published load-out dates, times, and removal requirements.

If an invoice is not received following an Auction, the Purchaser is responsible for promptly contacting Kiefer Auctioneers, LLC at [email protected] or (940) 391-9111 to request a copy.

NONRECEIPT OF AN INVOICE DOES NOT AUTOMATICALLY CONSTITUTE AN EXTENSION OF PAYMENT TERMS, LOAD-OUT DEADLINES, OR OTHER CONTRACTUAL OBLIGATIONS.

3.14 Auction-Specific Bidding Rules

The Auction Company may establish additional lawful bidding procedures for individual Auctions, including bidding increments, maximum-bid functionality, extended bidding, reserve prices, minimum bids, grouped Lots, and other disclosed procedures.

Where Auction-Specific Terms lawfully establish additional or different bidding requirements, those terms shall control for the applicable Auction.

Bidders are responsible for reviewing the applicable Auction listing and platform rules before participating.

SECTION 4 - AUCTION PREVIEW, INSPECTION, AS-IS SALES, WARRANTIES, AND RISK OF LOSS

4.1 Auction Preview Day, Inspection Appointments, and Bidder's Duty to Inspect

Auction Preview Opportunities:

Kiefer Auctioneers, LLC (the "Auction Company") may provide designated Auction Preview Days, scheduled inspection periods, or inspection opportunities by appointment before an Auction.

All dates, times, locations, and applicable inspection requirements shall be published on the Auction listing page at www.kieferauctions.com, on the designated online bidding platform, or in other authorized Auction communications.

Preview dates and times may vary by Auction. No particular preview schedule is guaranteed unless expressly published for the applicable Auction.

Inspection by Appointment:

Prospective Bidders may request a private inspection appointment by contacting the Auction Company in advance:

Kiefer Auctioneers, LLC

Email: [email protected] or [email protected]

Office: (940) 391-9111

Auctioneer: (903) 821-8717

All appointments are subject to availability, property-access restrictions, Seller authorization, safety requirements, and confirmation by the Auction Company.

NO BIDDER OR OTHER INDIVIDUAL MAY ENTER AUCTION PREMISES OUTSIDE AN AUTHORIZED PREVIEW PERIOD OR CONFIRMED INSPECTION APPOINTMENT WITHOUT EXPRESS PERMISSION FROM THE AUCTION COMPANY OR PROPERTY OWNER.

The Auction Company reserves the right to limit inspection access, require supervision, restrict equipment operation, and establish reasonable safety procedures.

Bidder's Duty to Inspect and Investigate:

ALL BIDDERS ARE SOLELY RESPONSIBLE FOR INSPECTING, INVESTIGATING, EVALUATING, AND VERIFYING AUCTION ITEMS BEFORE PLACING A BID.

Each Bidder is responsible for independently determining an Auction Item's:

• Physical and mechanical condition.
• Functionality and operating performance.
• Completeness and included components.
• Authenticity, originality, and provenance.
• Manufacturer, model, year, serial number, mileage, and operating hours.
• Dimensions, specifications, quantities, and measurements.
• Suitability for the Bidder's intended use.
• Applicable safety and regulatory requirements.
• Other characteristics material to the Bidder's purchasing decision.

BUYER IS RESPONSIBLE FOR INSPECTION.

Bidders are strongly encouraged to inspect Auction Items personally or arrange for inspection by a qualified representative before bidding.

FAILURE TO INSPECT AN AUCTION ITEM, ATTEND A SCHEDULED PREVIEW DAY, OR ARRANGE AN INSPECTION APPOINTMENT SHALL NOT, BY ITSELF, RELIEVE THE PURCHASER OF THE CONTRACTUAL OBLIGATION TO PAY FOR AND ACCEPT AN AUCTION ITEM FOLLOWING A LAWFULLY COMPLETED SALE.

The Auction Company is not obligated to provide additional inspection opportunities after the published inspection period.

Inspection Safety and Liability:

All persons entering Auction Premises for inspection or preview are subject to the site-entry, assumption-of-risk, ordinary-negligence release, indemnification, and safety provisions established in Section 2.4.

No person may start, operate, test, move, dismantle, or otherwise handle Auction Items without prior authorization.

Unauthorized inspection, operation, testing, or handling may result in removal from the Auction Premises, suspension of bidding privileges, and liability for resulting damages to the extent permitted by law.

4.2 AS IS, WHERE IS Sales and Disclaimer of Warranties

ALL AUCTION ITEMS ARE SOLD STRICTLY "AS IS, WHERE IS, WITH ALL FAULTS," UNLESS EXPRESSLY STATED OTHERWISE IN WRITING OR REQUIRED BY APPLICABLE LAW.

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, KIEFER AUCTIONEERS, LLC AND THE SELLER DISCLAIM ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.

Except for warranties that cannot lawfully be disclaimed or express written warranties specifically provided for the applicable transaction, the Auction Company and Seller make no guarantee regarding:

• Condition, quality, completeness, or functionality.
• Accuracy of descriptions, specifications, measurements, or quantities.
• Manufacturer, model, year, serial number, mileage, or operating hours.
• Mechanical condition, operating performance, or future reliability.
• Authenticity, provenance, age, or historical significance.
• Compliance with applicable safety standards or regulatory requirements.
• Suitability for any intended commercial, industrial, agricultural, residential, or personal use.
• The presence or absence of defects, whether visible, hidden, known, or unknown.
• Availability of replacement parts, service, or manufacturer support.
• Eligibility for registration, licensing, or lawful operation, except where expressly represented in writing or required by law.

Auction Items may be used, damaged, incomplete, inoperable, obsolete, or otherwise unsuitable for their intended purpose.

THE PURCHASER ACCEPTS THE AUCTION ITEM IN ITS EXISTING CONDITION AT THE TIME OF SALE, SUBJECT TO APPLICABLE LAW AND ANY EXPRESS WRITTEN REPRESENTATIONS THAT ARE LEGALLY ENFORCEABLE.

BIDDERS ASSUME RESPONSIBILITY FOR VERIFYING THE CONDITION, FUNCTIONALITY, COMPLETENESS, AND SUITABILITY OF ALL AUCTION ITEMS BEFORE BIDDING.

Nothing in this section disclaims an express warranty that cannot lawfully be excluded, permits fraud or intentional misrepresentation, or eliminates rights that applicable law prohibits the parties from waiving.

Title status, transferability, and applicable warranties of title are addressed separately in Section 9.

4.3 Catalog Descriptions, Photographs, Videos, and Information

Auction catalogs, descriptions, photographs, videos, advertisements, condition statements, and other promotional materials are provided for general identification and informational purposes.

Such information may be obtained from Sellers, manufacturer labels, available records, third-party sources, or visual observations.

THE AUCTION COMPANY DOES NOT WARRANT OR GUARANTEE THE ACCURACY, COMPLETENESS, OR RELIABILITY OF AUCTION CATALOG DESCRIPTIONS, PHOTOGRAPHS, VIDEOS, SPECIFICATIONS, OR OTHER INFORMATION PROVIDED IN CONNECTION WITH AN AUCTION, EXCEPT TO THE EXTENT AN EXPRESS WARRANTY IS MADE OR APPLICABLE LAW REQUIRES OTHERWISE.

Bidders acknowledge that:

• Catalog descriptions may contain errors, omissions, or inaccuracies.
• Photographs and videos may not depict every component, defect, accessory, or condition.
• Operating hours, mileage, and other measurements may be unverified.
• Statements regarding operation or condition may reflect Seller-provided information or limited observations.
• Additional defects or missing components may be discovered after purchase.
• Photographs or videos depicting equipment in operation do not guarantee continued operation or future performance.
• References to accessories, attachments, or related components do not establish that such items are included unless identified as part of the applicable Lot.

Bidders are responsible for independently verifying all information material to their purchasing decisions.

The Auction Company reserves the right to correct demonstrable errors, amend descriptions, and publish additional information before completion of the affected sale.

NO BIDDER SHOULD RELY EXCLUSIVELY UPON PHOTOGRAPHS, CATALOG DESCRIPTIONS, OR VERBAL STATEMENTS IN PLACE OF INDEPENDENT INSPECTION AND INVESTIGATION.

Nothing in this section eliminates liability for fraud, intentional misrepresentation, enforceable express warranties, or other liability that cannot lawfully be excluded.

4.4 Equipment Condition, Operation, and Safety

Unless expressly warranted in writing, the Auction Company does not guarantee that machinery, vehicles, tools, electronics, or other equipment will start, operate, perform as intended, meet safety standards, or be suitable for a particular application.

Descriptions such as "runs," "operates," "working," "tested," "starts," "drives," or similar statements reflect reported or observed conditions and are not guarantees of future performance.

Equipment may require repairs, maintenance, inspections, replacement components, safety modifications, or regulatory compliance measures before use.

Purchasers are solely responsible for determining whether purchased equipment may be lawfully and safely operated.

THE PURCHASER ASSUMES RESPONSIBILITY FOR ARRANGING APPROPRIATE PROFESSIONAL INSPECTION, MAINTENANCE, REPAIR, AND SAFETY VERIFICATION BEFORE OPERATING PURCHASED EQUIPMENT.

No person may operate equipment on Auction Premises without authorization.

The loading, removal, site-entry, and liability provisions in Sections 2.4 and 8 apply to the extent enforceable.

4.5 Risk of Loss, Transfer of Responsibility, and Ownership

Binding Purchase Obligation:

Upon lawful completion of an Auction sale, including when the Auctioneer declares an Auction Item "Sold" or the designated online bidding platform confirms the winning bid, the Purchaser enters into a binding contractual obligation to pay for and accept the Auction Item in accordance with these Terms and Conditions.

RISK OF LOSS:

To the fullest extent permitted by applicable law, the parties expressly agree that the risk of accidental loss, theft, or damage to an identified Auction Item transfers to the Purchaser upon lawful completion of the sale, including when the Auctioneer declares the item "Sold" or the online bidding platform confirms the winning bid.

This allocation is intended to apply regardless of whether the Purchaser has remitted full payment or physically removed the Auction Item, subject to applicable law, including Texas Business and Commerce Code Sections 2.509 and 2.510.

The allocation does not eliminate remedies arising from a Seller's breach or liability that cannot lawfully be excluded.

Ownership and Possession:

Transfer of Risk of Loss does not necessarily constitute transfer of legal title.

The Auction Company may retain possession of purchased Auction Items until payment in full has been received and applicable release requirements have been satisfied.

Purchasers are responsible for complying with all published payment and removal requirements.

Insurance Recommendation:

PURCHASERS ARE STRONGLY ENCOURAGED TO OBTAIN APPROPRIATE INSURANCE COVERAGE IMMEDIATELY FOLLOWING THE SALE TO PROTECT PURCHASED AUCTION ITEMS AGAINST THEFT, LOSS, ACCIDENTAL DAMAGE, STORAGE RISKS, LOADING INCIDENTS, AND TRANSPORTATION RISKS.

The Auction Company does not undertake to insure the Purchaser's property unless expressly agreed in writing.

Related Contractual Protections:

The risk-of-loss allocation in this Section shall be read together with the loading, removal, liability release, indemnification, and storage provisions established in Sections 2.4 and 8.

4.6 Finality of Completed Sales and Purchaser Obligations

ALL LAWFULLY COMPLETED AUCTION SALES ARE FINAL, EXCEPT AS OTHERWISE REQUIRED BY APPLICABLE LAW OR EXPRESSLY PROVIDED IN THE APPLICABLE AUCTION-SPECIFIC TERMS.

A Purchaser's failure to inspect, misunderstanding of the condition of an Auction Item, failure to review the catalog, or dissatisfaction with an item after purchase does not, by itself, establish a right to cancel the sale, return the item, refuse payment, or obtain a refund.

THE PURCHASER ACKNOWLEDGES THAT A LAWFULLY COMPLETED SALE CREATES A BINDING CONTRACTUAL OBLIGATION TO PAY THE FULL PURCHASE PRICE, APPLICABLE BUYER'S PREMIUM, SALES TAX, AND ALL OTHER PROPERLY DISCLOSED CHARGES.

Failure to satisfy payment obligations constitutes default under Section 7.

Failure to remove purchased property within the published load-out dates and times constitutes a separate material breach under Section 8.

PAYMENT IN FULL DOES NOT EXCUSE THE PURCHASER FROM COMPLYING WITH THE PUBLISHED REMOVAL DEADLINES.

Nothing in this section eliminates legally protected remedies for fraud, material misrepresentation, failure of title, Seller breach, or other claims that cannot lawfully be waived.

SECTION 5 - BUYER'S PREMIUM, PAYMENT, AND INVOICING

5.1 Buyer's Premium

A Buyer's Premium, as disclosed in the applicable Auction listing, Auction-Specific Terms, website, advertising materials, or designated bidding platform, shall be added to the final Hammer Price of each Auction Item and is payable as part of the total purchase price.

The Buyer's Premium applies to all onsite, online, simulcast, live virtual, and absentee Bidders, unless expressly waived or modified in writing by the Auction Company or otherwise provided in the applicable Auction-Specific Terms.

THE BUYER'S PREMIUM IS NOT A TAX. IT IS A SEPARATE AUCTION SERVICE FEE RETAINED BY THE AUCTION COMPANY AND IS COLLECTED IN ADDITION TO APPLICABLE SALES TAX, TITLE FEES, HANDLING CHARGES, PAYMENT PROCESSING FEES, AND OTHER LAWFUL AND PROPERLY DISCLOSED CHARGES.

The applicable Buyer's Premium may vary by Auction, bidding method, or individual Auction Item. Auctions may establish percentage-based, flat-rate, tiered, or other properly disclosed premium structures. The applicable rate or amount shall be determined by the terms disclosed for the Auction or Auction Item before the applicable sale.

EACH BIDDER IS RESPONSIBLE FOR REVIEWING AND UNDERSTANDING THE APPLICABLE BUYER'S PREMIUM BEFORE PLACING A BID. FAILURE TO READ, REVIEW, OR UNDERSTAND A PROPERLY DISCLOSED BUYER'S PREMIUM DOES NOT RELIEVE THE SUCCESSFUL BIDDER OF THE OBLIGATION TO PAY IT.

Tiered Buyer's Premium and Individual Lot Calculations:

When an Auction uses a tiered Buyer's Premium, the applicable percentage is determined by the final Hammer Price of each individual Lot purchased, unless the applicable Auction-Specific Terms expressly provide otherwise.

THE BUYER'S PREMIUM IS CALCULATED SEPARATELY ON THE ENTIRE HAMMER PRICE OF EACH INDIVIDUAL LOT. IT IS NOT CALCULATED ON THE PURCHASER'S CUMULATIVE AUCTION PURCHASES, AND THE PERCENTAGES ARE NOT APPLIED PROGRESSIVELY TO DIFFERENT PORTIONS OF THE HAMMER PRICE.

For illustration only, an Auction may establish the following online Buyer's Premium schedule:

• 12% Buyer's Premium: Individual Lots with Hammer Prices of $5.00 through $30,000.00.
• 7% Buyer's Premium: Individual Lots with Hammer Prices greater than $30,000.00.

These rates are illustrative only and do not establish the Buyer's Premium for every Auction. Any different opening bid, minimum Hammer Price, rate, threshold, or premium structure shall be governed by the applicable Auction-Specific Terms.

Buyer's Premium Calculation Examples:

Example 1 - Individual Lot Selling for $100:

• Hammer Price: $100.00
• Applicable Buyer's Premium: 12%
• Buyer's Premium Amount: $12.00
• Total Before Taxes and Other Fees: $112.00

Example 2 - Individual Lot Selling for $35,000:

• Hammer Price: $35,000.00
• Applicable Buyer's Premium: 7%
• Buyer's Premium Amount: $2,450.00
• Total Before Taxes and Other Fees: $37,450.00

Example 3 - Multiple Lots Purchased by the Same Buyer:

A Purchaser wins three separate Lots:

The Purchaser's total before applicable taxes and other fees is $76,650.00.

Although the Purchaser's combined Hammer Prices total $70,000.00, each Lot is calculated independently using the applicable rate for that individual Lot.

Times the Money or X Money:

When an Auction Item is offered using a "2X Money," "3X Money," "4X Money," "5X Money," or other quantity-multiplier bidding method, the accepted winning bid is multiplied by the announced or disclosed quantity to establish the total Hammer Price for that Lot.

The applicable Buyer's Premium shall then be calculated on the extended Hammer Price of the individual Lot, unless the Auction-Specific Terms expressly provide otherwise.

Example 4 - 5X Money:

• Winning Bid: $200.00
• Quantity Multiplier: 5X Money
• Extended Hammer Price: $1,000.00
• Applicable Buyer's Premium: 12%
• Buyer's Premium Amount: $120.00
• Total Before Taxes and Other Fees: $1,120.00

BIDDERS ARE RESPONSIBLE FOR UNDERSTANDING WHETHER AN AUCTION ITEM IS OFFERED BY THE LOT, BY THE UNIT, OR ON A QUANTITY-MULTIPLIER BASIS BEFORE PLACING A BID.

A Bidder's failure to understand a properly disclosed quantity multiplier does not, by itself, relieve the successful Bidder of the obligation to pay the resulting extended Hammer Price, applicable Buyer's Premium, and other lawful charges.

Additional Buyer's Premium Provisions:

The Bidder and Purchaser acknowledge and agree that:

• Buyer's Premium rates may differ between Auctions.
• Different rates may apply to onsite, online, simulcast, absentee, or other authorized bidding methods.
• Individual Auction Items may be subject to different properly disclosed premium rates or structures.
• For a tiered Buyer's Premium, the applicable rate is determined by the Hammer Price of each individual Lot, not the Purchaser's cumulative Auction purchases.
• The applicable percentage is applied to the entire Hammer Price of the individual Lot unless the Auction-Specific Terms expressly provide otherwise.
• Applicable sales tax, title fees, handling charges, payment processing charges, and other lawful and properly disclosed fees are additional.
• The Buyer's Premium is part of the Purchaser's binding payment obligation and shall be included in the Auction invoice.
• Failure to review or understand a properly disclosed Buyer's Premium does not excuse payment of that premium.

THE BUYER'S PREMIUM PUBLISHED FOR THE APPLICABLE AUCTION OR INDIVIDUAL AUCTION ITEM SHALL CONTROL OVER THE ILLUSTRATIVE RATES AND EXAMPLES PROVIDED IN THESE GENERAL TERMS AND CONDITIONS.

The Buyer's Premium shall not be retroactively increased after completion of a sale without a lawful basis or the affected Purchaser's agreement.

Any waiver or modification of the applicable Buyer's Premium must be authorized by the Auction Company and documented in writing, except as otherwise required by applicable law.

5.2 Payment Deadlines

Unless otherwise specified in the Auction-Specific Terms, all Auction purchases must be paid in full by 5:00 PM Central Time on the day of the Auction.

For Auctions concluding after 5:00 PM Central Time, payment is due by 10:00 AM Central Time the following day, unless a different deadline is published.

The Purchaser's payment obligation is not contingent upon receiving an invoice, obtaining financing, arranging transportation, or being available during the designated removal period.

Payment must be received and verified before property is released.

5.3 Accepted Payment Methods

Subject to the applicable Auction-Specific Terms, accepted payment methods may include:

• Cash.
• Approved credit cards.
• Approved debit cards.
• Wire transfers.
• Checks with an acceptable bank letter of guarantee or other verification approved by the Auction Company.
• Other payment methods expressly authorized by the Auction Company.

The Auction Company may require verified or certified funds when reasonably necessary.

Checks may be subject to clearance before purchased property is released.

5.4 Payment Processing Charges

A processing charge of 3.79% may apply to eligible card transactions when properly disclosed and permitted by applicable law, payment-processor agreements, and card-network rules.

A $7 wire transfer processing fee may apply when disclosed.

The Auction Company shall not impose a prohibited debit-card surcharge or any payment-method charge that violates applicable law or card-network requirements.

5.5 Payment Authorization

Where a Purchaser has expressly authorized the Auction Company to charge a designated payment card for Auction purchases, the Auction Company may process authorized amounts lawfully due.

Purchasers are responsible for maintaining valid payment information and sufficient available funds.

An unsuccessful or declined payment attempt does not extend the Payment Deadline.

Stored payment information does not constitute unlimited authorization for unrelated or undisclosed charges.

5.6 Invoices and Clerical Corrections

Invoices are generally delivered electronically following the Auction.

Purchasers are responsible for reviewing invoices and promptly notifying the Auction Company of suspected discrepancies.

The Auction Company reserves the right to correct demonstrable clerical, mathematical, human, cataloging, tax, title, invoicing, and payment-processing errors.

Corrections may include omitted charges, duplicate entries, incorrect fee calculations, overpayments, underpayments, or other documented administrative discrepancies.

Purchasers remain responsible for valid corrected balances, including those identified after the initial invoice has been issued or property has been released.

Overpayments shall be corrected through an appropriate refund or credit.

Corrections do not authorize unilateral changes to a lawfully completed Hammer Price or the imposition of undisclosed charges contrary to applicable law.

5.7 International Purchasers

International Purchasers must obtain any required advance approval and comply with applicable payment, identification, tax, export, and transfer requirements.

The Auction Company may require an advance deposit, verified wire transfer in U.S. dollars, or other reasonable payment safeguards.

International Purchasers are responsible for applicable bank charges, currency conversion costs, customs requirements, import duties, and export documentation.

5.8 Payment Verification and Release

NO AUCTION ITEM SHALL BE RELEASED UNTIL ALL AMOUNTS PROPERLY DUE HAVE BEEN PAID AND PAYMENT HAS BEEN VERIFIED.

The Purchaser must present an acceptable paid invoice or other authorized release documentation.

The Auction Company may require identification or written authorization from individuals collecting property on behalf of a Purchaser.

SECTION 6 - SALES TAX, EXEMPTIONS, AND EXPORT REQUIREMENTS

6.1 Collection of Applicable Sales Tax

Applicable Texas state and local sales tax shall be collected on taxable Auction purchases unless the Purchaser provides a properly completed, legally applicable resale or exemption certificate that is accepted by Kiefer Auctioneers, LLC (the "Auction Company"), or another lawful exemption applies.

The applicable sales or use tax rate shall be determined in accordance with Texas law, including the location of the sale and, when applicable, the location to which the Auction Item is shipped or delivered.

The Auction Company reserves the right to assess and collect all taxes legally required for the transaction.

6.2 Sales Tax Exemption Requirements

Purchasers claiming exemption from sales tax must submit valid, complete, accurate, and legally applicable documentation.

Acceptable documentation may include:

• Texas Sales and Use Tax Resale Certificates.
• Texas Agricultural Sales and Use Tax Exemption Certificates.
• Texas Timber exemption documentation.
• Legally acceptable out-of-state resale or exemption documentation.
• Other exemption documentation recognized under applicable law.

SUBMISSION OF A RESALE OR EXEMPTION CERTIFICATE DOES NOT AUTOMATICALLY GUARANTEE ACCEPTANCE OR EXEMPTION FROM SALES TAX.

The Auction Company reserves the right to review, verify, and reject documentation that is incomplete, invalid, expired, inconsistent, unsupported, or otherwise legally insufficient.

6.3 Agricultural and Timber Exemptions

POSSESSION OF A TEXAS AGRICULTURAL OR TIMBER EXEMPTION NUMBER DOES NOT AUTOMATICALLY EXEMPT EVERY AUCTION PURCHASE FROM SALES TAX.

Agricultural and timber exemptions apply only to qualifying purchases and uses under applicable Texas law.

An agricultural exemption does not automatically apply to farm-related merchandise, tools, vehicles, household items, personal property, or other Auction Items that are not being purchased for a legally qualifying agricultural use.

Purchasers claiming an agricultural or timber exemption are responsible for determining that the purchased property qualifies and will be used in the manner required by law.

The Auction Company may decline an exemption when the type of property or stated intended use does not support the claimed exemption.

6.4 Exemption Information Submitted Through Online Platforms

Purchasers are responsible for ensuring that all exemption information submitted through Proxibid, BidSpotter, the Auction Company's website, or directly to Auction Personnel is accurate, complete, current, and legally applicable to the purchased property.

REGISTRATION AS A TAX-EXEMPT BIDDER ON AN ONLINE BIDDING PLATFORM DOES NOT, BY ITSELF, ESTABLISH THAT EVERY AUCTION ITEM PURCHASED QUALIFIES FOR EXEMPTION.

The Auction Company may require supporting certificates or documentation before approving a tax exemption.

6.5 Deadline for Exemption Documentation

Purchasers are required under the Auction Company's standard administrative policy to submit exemption documentation before payment is processed.

If valid and acceptable documentation has not been received and approved before payment, applicable sales tax may be collected.

THE AUCTION COMPANY IS NOT OBLIGATED TO DELAY PAYMENT PROCESSING OR RELEASE OF AUCTION ITEMS WHILE A PURCHASER OBTAINS OR CORRECTS EXEMPTION DOCUMENTATION.

6.6 Tax Refunds, Credits, and Adjustments

Purchasers are responsible for submitting exemption documentation before payment to avoid unnecessary tax charges.

The Auction Company does not guarantee that a post-payment exemption request will result in an immediate refund, credit, or invoice adjustment.

Requests submitted after payment shall be evaluated in accordance with applicable Texas law and the Auction Company's lawful administrative procedures.

When legally permissible, the Auction Company may direct the Purchaser to the appropriate Texas Comptroller refund process or provide an Assignment of Right to Refund rather than directly processing a refund.

Nothing in this Agreement eliminates a Purchaser's statutory right to seek a refund of tax paid in error.

6.7 Export Transactions

Purchasers seeking exemption or other tax treatment based on export outside the United States must satisfy applicable Texas tax requirements and provide legally sufficient documentation.

Documentation may include official bills of lading, carrier records, customs documentation, or other evidence required under applicable law.

An intention to export property does not automatically establish a tax exemption.

Purchasers are responsible for arranging lawful export and providing supporting documentation.

6.8 Invalid or Improperly Claimed Exemptions

The Purchaser is responsible for the accuracy and lawful use of all submitted exemption documentation.

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE TEXAS LAW, THE PURCHASER SHALL BE RESPONSIBLE FOR TAXES, PENALTIES, AND INTEREST LEGALLY ATTRIBUTABLE TO THE PURCHASER'S FALSE, INVALID, OR IMPROPERLY CLAIMED EXEMPTION.

The Auction Company reserves the right to pursue lawful remedies for losses caused by a Purchaser's fraudulent or materially inaccurate exemption representations.

Nothing in this provision eliminates the Auction Company's independent statutory tax-collection or reporting obligations.

6.9 Purchaser Acknowledgment

By registering and participating in an Auction, each Bidder and Purchaser acknowledges that:

• Applicable sales tax will be collected unless a lawful exemption applies.
• Exemption certificates must be properly completed and legally applicable to the purchased property.
• Agricultural and timber exemptions do not automatically apply to every purchase.
• Tax-exempt status shown on a bidding platform does not guarantee exemption.
• Exemption documentation should be submitted before payment processing.
• The Auction Company may reject invalid or unsupported exemption claims.
• Tax refunds and adjustments are subject to applicable law and legally established procedures.

SECTION 7 - PAYMENT DEFAULT, NONPAYMENT, CHARGEBACKS, COLLECTION, RESALE, AND LEGAL REMEDIES

7.1 Binding Payment Obligations

Upon lawful completion of an Auction sale, the Purchaser enters into a binding contractual obligation to pay the full amount due, including the Hammer Price, applicable Buyer's Premium, sales tax, and all other properly disclosed fees and charges.

THE PURCHASER'S OBLIGATION TO PAY SHALL REMAIN ENFORCEABLE NOTWITHSTANDING ANY CLERICAL, HUMAN, MATHEMATICAL, ADMINISTRATIVE, OR INVOICING ERROR, PROVIDED THE AMOUNT CLAIMED IS LAWFULLY DUE UNDER THE COMPLETED TRANSACTION AND APPLICABLE AUCTION TERMS.

The Purchaser acknowledges that failure to receive an invoice, failure to inspect an Auction Item, misunderstanding of bidding procedures, lack of financing, or inability to arrange transportation does not automatically excuse payment.

7.2 Default for Failure to Make Payment

In the event the Purchaser fails to make full payment as required by these Terms and Conditions, including any properly established balance resulting from a clerical or human error, the Purchaser shall be deemed in material default of this contractual Agreement.

Payment Default includes, without limitation:

• Failure to pay an invoice by the published Payment Deadline.
• Failure to pay a properly established corrected invoice balance.
• Issuance of a check that is returned or dishonored.
• Stopping payment on a validly issued check without lawful justification.
• Providing invalid or unauthorized payment information.
• Initiating a fraudulent or otherwise improper chargeback or payment reversal.
• Failure to satisfy any other material payment obligation arising from a completed Auction purchase.

The Auction Company may provide an opportunity to cure a default but is not required to extend payment deadlines except where applicable law requires.

7.3 Collection Actions and Recovery of Outstanding Balances

THE AUCTION COMPANY EXPRESSLY RESERVES THE RIGHT TO PURSUE ALL LAWFUL REMEDIES AVAILABLE TO RECOVER UNPAID BALANCES, DAMAGES, AND EXPENSES ARISING FROM A PURCHASER'S DEFAULT.

Such remedies may include, but are not limited to:

• Direct collection efforts by the Auction Company.
• Referral of delinquent accounts to a licensed or otherwise legally authorized collection agency.
• Retention of legal counsel to pursue collection.
• Filing civil claims or lawsuits in a court of competent jurisdiction.
• Seeking judgments for legally recoverable unpaid balances and damages.
• Recovery of reasonable attorney's fees and court costs when authorized by applicable law or an enforceable contractual provision.
• Recovery of legally recoverable collection agency fees and related expenses.
• Suspension or permanent revocation of future bidding privileges.
• Cancellation or resale of defaulted Auction purchases when legally permissible.

THE PURCHASER AGREES TO BE RESPONSIBLE FOR REASONABLE AND LEGALLY RECOVERABLE COLLECTION COSTS, ATTORNEY'S FEES, COURT COSTS, COLLECTION AGENCY FEES, AND OTHER EXPENSES DIRECTLY RESULTING FROM THE PURCHASER'S DEFAULT.

No provision authorizes collection of unlawful penalties, duplicative damages, or fees prohibited by applicable law.

7.4 Insufficient Funds, Stopped Payments, Fraudulent Transactions, and Law Enforcement Referrals

The Auction Company reserves the right to investigate and pursue lawful remedies concerning insufficient-funds checks, dishonored payments, unauthorized payment activity, fraudulent transactions, and improper payment reversals.

WHEN FACTS REASONABLY INDICATE SUSPECTED CRIMINAL CONDUCT, THE AUCTION COMPANY MAY REFER THE MATTER TO THE APPROPRIATE DISTRICT ATTORNEY, COUNTY ATTORNEY, SHERIFF'S OFFICE, POLICE DEPARTMENT, OR OTHER LAW ENFORCEMENT AUTHORITY.

Such matters may include:

• Knowingly issuing a check without sufficient funds when the elements of an applicable offense are present.
• Fraudulent use of payment credentials.
• Intentional misrepresentation in connection with payment.
• Fraudulent payment reversals or other conduct potentially constituting theft or fraud under applicable law.

A mere unpaid balance, legitimate billing dispute, or lawful chargeback does not automatically constitute criminal conduct.

The Auction Company retains the right to pursue lawful civil remedies regardless of whether a criminal referral is appropriate.

7.5 Corrected Invoices and Clerical or Human Errors

The Auction Company reserves the right to correct demonstrable clerical, mathematical, human, administrative, invoicing, and payment-processing errors.

Such errors may include:

• Incorrect Buyer's Premium calculations.
• Omitted or duplicated fees.
• Incorrect sales tax calculations.
• Payment-processing discrepancies.
• Incorrect invoice totals.
• Title-handling or other properly disclosed charges omitted from an invoice.
• Other documented administrative errors.

THE PURCHASER ACKNOWLEDGES THAT POSSESSION OR RELEASE OF AN AUCTION ITEM DOES NOT EXCUSE PAYMENT OF A VALID BALANCE OWED AS A RESULT OF A CORRECTED CLERICAL OR HUMAN ERROR.

Upon notice of a valid corrected balance, the Purchaser shall remit payment within the reasonable deadline stated in the corrected invoice or notice.

Failure to pay a properly established corrected balance by that deadline constitutes Payment Default.

The Auction Company may pursue lawful collection and enforcement remedies.

Corrections shall not authorize unilateral changes to completed Hammer Prices or the imposition of charges not lawfully owed.

7.6 Cancellation, Non-Sale Designation, and Resale of Unpaid Auction Items

IN THE EVENT OF PAYMENT DEFAULT, THE AUCTION COMPANY, ACTING WITH APPROPRIATE SELLER AUTHORITY AND SUBJECT TO APPLICABLE LAW, RESERVES THE RIGHT TO CANCEL THE DEFAULTED TRANSACTION, DESIGNATE THE LOT AS UNPAID OR DEFAULTED, AND RESELL THE AUCTION ITEM AT PUBLIC OR PRIVATE SALE.

When legally permissible, the Auction Company may:

• Withhold release of unpaid Auction Items.
• Cancel the defaulted transaction.
• Offer the Auction Item to another interested buyer.
• Reoffer the Auction Item in a subsequent Auction.
• Arrange a commercially reasonable public or private resale.
• Recover legally recoverable damages and expenses caused by the default.

The Auction Company may administratively designate a defaulted transaction as a "No Sale," "Unpaid," or "Defaulted Sale."

Such designation does not erase a completed transaction or eliminate contractual rights or remedies established by law.

Any resale shall comply with applicable notice, commercial-reasonableness, and other legal requirements.

7.7 Resale Deficiency and Additional Costs

IF AN AUCTION ITEM IS LAWFULLY RESOLD FOLLOWING THE PURCHASER'S DEFAULT AND THE RESALE RESULTS IN A LEGALLY RECOVERABLE DEFICIENCY, THE DEFAULTING PURCHASER SHALL BE RESPONSIBLE FOR THAT DEFICIENCY AND OTHER RECOVERABLE EXPENSES.

Recoverable amounts may include:

• The legally recoverable difference between the original contract price and resale proceeds.
• Reasonable costs associated with resale.
• Reasonable advertising and remarketing expenses.
• Reasonable transportation and handling costs.
• Reasonable storage and preservation expenses.
• Reasonable labor and equipment costs caused by the default.
• Other incidental damages recoverable under applicable law.

The Auction Company may pursue such amounts through lawful collection procedures or legal action.

No provision permits double recovery or recovery exceeding amounts authorized by applicable law.

7.8 Failure to Remove Purchased Auction Items

Failure to remove purchased Auction Items within the published Removal Deadline constitutes a separate material breach of this Agreement, regardless of whether the Purchaser has paid the invoice in full.

THE PURCHASER SHALL BE RESPONSIBLE FOR REASONABLE, DOCUMENTED, AND LEGALLY RECOVERABLE COSTS ARISING FROM FAILURE TO PROMPTLY REMOVE AUCTION ITEMS, INCLUDING STORAGE FEES, HANDLING FEES, TRANSPORTATION COSTS, RESHIPPING CHARGES, LABOR, EQUIPMENT, RIGGING, AND OTHER NECESSARY EXPENSES.

Properly disclosed storage charges may accrue daily in accordance with Section 8.

The Purchaser acknowledges that removal delays may cause additional costs when Auction Premises are sold, leased, vacated, or otherwise required to be returned to a property owner.

The Auction Company may seek recovery of foreseeable and legally recoverable damages directly resulting from such delays.

The Auction Company's authority to relocate, store, resell, or otherwise dispose of unremoved property shall be governed by Section 8 and applicable law.

PAYMENT IN FULL DOES NOT ENTITLE A PURCHASER TO INDEFINITE STORAGE OR ACCESS TO AUCTION PREMISES BEYOND THE PUBLISHED REMOVAL PERIOD.

7.9 Chargebacks, Payment Reversals, and Financial Institution Disputes

ALL LAWFULLY COMPLETED AUCTION SALES ARE FINAL, SUBJECT TO APPLICABLE LAW. PURCHASERS AGREE NOT TO INITIATE FRAUDULENT, KNOWINGLY FALSE, OR OTHERWISE IMPROPER CHARGEBACKS, PAYMENT REVERSALS, OR FINANCIAL INSTITUTION DISPUTES.

Purchasers agree to contact the Auction Company promptly concerning suspected invoice errors, unauthorized charges, or other legitimate payment discrepancies.

The Purchaser acknowledges that the Auction Company's registration records, bidding records, invoices, payment authorizations, communications, and pickup documentation may be used as evidence of the transaction.

Such records shall constitute relevant business records but shall not automatically be treated as legally conclusive evidence where applicable law provides otherwise.

Nothing in this Agreement prohibits a Purchaser from exercising legally protected billing-error, chargeback, or financial institution dispute rights.

7.10 Improper Chargebacks and Material Breach

In the event a Purchaser knowingly initiates a fraudulent, materially false, or otherwise wrongful chargeback or payment reversal, such conduct may constitute a material breach of this Agreement.

The Purchaser shall remain responsible for valid unpaid contractual obligations.

TO THE FULLEST EXTENT PERMITTED BY LAW, THE PURCHASER AGREES TO REIMBURSE THE AUCTION COMPANY FOR REASONABLE AND LEGALLY RECOVERABLE COSTS DIRECTLY RESULTING FROM A WRONGFUL CHARGEBACK OR PAYMENT REVERSAL, INCLUDING APPLICABLE BANK FEES, PAYMENT-PROCESSING DISPUTE FEES, COLLECTION EXPENSES, AND REASONABLE ATTORNEY'S FEES WHERE RECOVERABLE.

The Auction Company reserves the right to contest improper disputes, pursue collection of valid balances, and exercise other lawful remedies.

A good-faith dispute or lawful exercise of protected consumer rights shall not, by itself, constitute a contractual breach.

7.11 No Refunds Following Lawful Resale or Default

Where the Auction Company lawfully cancels a defaulted transaction or resells an Auction Item following the Purchaser's default, the Purchaser shall not be entitled to a refund merely because the item was reoffered or sold to another buyer.

However, any payments previously received, resale proceeds, legally recoverable expenses, and amounts owed shall be accounted for as required by applicable law.

NO PROVISION AUTHORIZES THE AUCTION COMPANY TO RETAIN PAYMENTS OR RESALE PROCEEDS IN A MANNER THAT CONSTITUTES AN UNLAWFUL FORFEITURE, PENALTY, OR DOUBLE RECOVERY.

7.12 Suspension and Revocation of Future Bidding Privileges

The Auction Company reserves the right to suspend, restrict, or permanently revoke bidding privileges for individuals or entities that:

• Fail to pay for Auction purchases.
• Repeatedly issue dishonored payments.
• Initiate fraudulent payment disputes.
• Fail to pay valid corrected balances.
• Fail to comply with removal requirements.
• Engage in fraudulent or materially misleading conduct.
• Otherwise materially breach these Terms and Conditions.

The Auction Company may require deposits, verified funds, or additional reasonable registration safeguards before approving future participation.

7.13 Cumulative Remedies and No Waiver

Except where applicable law requires otherwise, the Auction Company's lawful remedies under this Agreement are cumulative and may be exercised individually or in combination, provided there is no prohibited duplication of recovery.

The Auction Company's decision not to enforce a particular charge, pursue collection, or exercise a remedy in one instance shall not constitute a waiver of its rights in another instance.

7.14 Continuing Obligations

Valid payment obligations, corrected balances, accrued damages, lawful collection expenses, removal costs, and other enforceable obligations arising from a Purchaser's default shall survive cancellation, resale, suspension of bidding privileges, and completion of the Auction to the extent permitted by law.

SECTION 8 - MANDATORY LOAD-OUT, REMOVAL DEFAULT, UNCLAIMED PROPERTY, STORAGE, SHIPPING, AND LIABILITY

8.1 Mandatory Removal Deadlines and Contractual Obligations

ALL AUCTION ITEMS MUST BE PAID FOR AND REMOVED WITHIN THE LOAD-OUT DATES AND TIMES PUBLISHED FOR THE APPLICABLE AUCTION, UNLESS ALTERNATIVE ARRANGEMENTS HAVE BEEN EXPRESSLY APPROVED IN WRITING BY KIEFER AUCTIONEERS, LLC.

By registering, bidding, and purchasing Auction Items, each Purchaser expressly acknowledges and agrees that the published load-out dates and times are material contractual obligations under these Terms and Conditions.

The Purchaser understands and agrees that:

• Auction Premises may be sold, leased, vacated, transferred to new ownership, or subject to contractual possession deadlines.
• Kiefer Auctioneers, LLC ("Auction Company") may have no legal right or practical ability to maintain access to the premises after the published Removal Deadline.
• The Purchaser is responsible for arranging sufficient labor, equipment, transportation, rigging, and assistance to complete removal within the designated timeframe.
• Failure to receive or review an invoice, failure to arrange transportation, or unavailability during the removal period does not automatically excuse compliance.
• The Auction Company is not obligated to extend the Removal Deadline or provide indefinite storage.

TIME IS OF THE ESSENCE WITH RESPECT TO ALL PAYMENT AND REMOVAL OBLIGATIONS.

8.2 Invoice Notice and Binding Acknowledgment

Each Auction invoice may include a notice substantially stating:

"ALL PURCHASED ITEMS MUST BE REMOVED WITHIN THE PUBLISHED LOAD-OUT DATES AND TIMES UNLESS OTHER ARRANGEMENTS HAVE BEEN APPROVED IN WRITING BY KIEFER AUCTIONEERS, LLC. FAILURE TO REMOVE ITEMS BY THE DEADLINE CONSTITUTES A MATERIAL DEFAULT UNDER THE AUCTION TERMS AND CONDITIONS. UNCOLLECTED ITEMS MAY BE TREATED AS UNCLAIMED PROPERTY AND SUBJECT TO STORAGE, RELOCATION, LAWFUL RESALE, OR DISPOSITION. NO REFUND OR CREDIT IS OWED MERELY BECAUSE THE BUYER FAILED TO COLLECT THE ITEMS, SUBJECT TO APPLICABLE LAW."

The Purchaser acknowledges that invoice notices supplement and reinforce the Terms and Conditions accepted during registration.

The invoice is not the sole source of the Purchaser's removal obligations. Such obligations arise from this Agreement and the applicable Auction-Specific Terms.

8.3 Failure to Remove and Contractual Default

FAILURE TO REMOVE AUCTION ITEMS WITHIN THE PUBLISHED LOAD-OUT PERIOD, WITHOUT AN APPROVED WRITTEN EXTENSION, CONSTITUTES A MATERIAL BREACH AND DEFAULT OF THIS AGREEMENT.

Upon expiration of the Removal Deadline, the Auction Company may, subject to applicable law and available authority:

• Restrict or terminate further access to the Auction Premises.
• Require removal by written appointment.
• Arrange relocation to another location.
• Engage third-party movers, riggers, or storage providers.
• Assess applicable storage charges.
• Recover reasonable and necessary labor, transportation, handling, equipment, and relocation expenses.
• Issue notice demanding retrieval and payment of applicable charges.
• Pursue legally authorized resale, lien enforcement, or disposition procedures.
• Suspend or revoke future bidding privileges.
• Pursue civil collection or other lawful remedies.

Payment in full does not relieve the Purchaser of the separate contractual obligation to remove purchased property by the Removal Deadline.

8.4 Unclaimed and Contractually Abandoned Property

For purposes of administering this Agreement, an Auction Item remaining after the published Removal Deadline without an approved written extension may be designated "Unclaimed" or "Contractually Abandoned" in the Auction Company's records.

This designation reflects the Purchaser's failure to comply with contractual removal requirements. It does not, by itself, establish statutory abandonment, extinguish legal ownership, or authorize immediate disposal without a lawful basis.

THE PURCHASER EXPRESSLY ACKNOWLEDGES THAT FAILURE TO REMOVE PURCHASED PROPERTY MAY RESULT IN LOSS OF ACCESS TO THE AUCTION PREMISES, STORAGE AND RELOCATION CHARGES, AND EVENTUAL LAWFUL RESALE OR DISPOSITION OF UNCLAIMED ITEMS.

The Auction Company may pursue all available lawful remedies when property remains unclaimed.

8.5 Notice, Resale, and Disposal of Unclaimed Items

When legally required or otherwise appropriate, the Auction Company may issue written notice identifying the unclaimed property, the missed Removal Deadline, applicable charges, and the procedure and deadline for retrieval.

Notice shall be provided by methods legally sufficient under the circumstances.

If the Purchaser fails to comply, the Auction Company reserves the right to pursue:

• Legally authorized public or private resale.
• Enforcement of a valid storage or other applicable lien.
• Judicial relief or other lawful enforcement procedures.
• Other disposition methods permitted by applicable law.

NO FURTHER NOTICE SHALL BE REQUIRED WHERE APPLICABLE LAW VALIDLY PERMITS ACTION WITHOUT ADDITIONAL NOTICE.

Any resale or disposal shall comply with applicable ownership, lien, notice, and accounting requirements.

The Auction Company is not required to maintain indefinite storage or preserve access to premises it no longer controls.

8.6 No Refunds or Credits for Failure to Collect

THE PURCHASER ACKNOWLEDGES THAT FAILURE TO REMOVE AUCTION ITEMS WITHIN THE DESIGNATED LOAD-OUT PERIOD DOES NOT ENTITLE THE PURCHASER TO A REFUND, CREDIT, CANCELLATION, OR RELEASE FROM THE PURCHASE OBLIGATION.

The Auction Company is under no obligation to refund the purchase price merely because the Purchaser:

• Failed to attend the designated load-out period.
• Failed to arrange transportation or assistance.
• Failed to obtain an approved written extension.
• Failed to retrieve purchased property before the Auction Premises were vacated.
• Incurred lawful storage, relocation, or other charges.

If property is subsequently resold or disposed of under lawful authority, any required accounting, application of proceeds, or refund shall be governed by applicable law.

This provision does not authorize unlawful forfeiture, penalties, or double recovery.

8.7 Storage Fee Schedule

Unless otherwise disclosed in the Auction-Specific Terms, the following daily storage charges may apply after the Removal Deadline:

• Small Items: $25.00 per Lot per day for items occupying less than one pallet space or equivalent.
• Large Items: $100.00 per Lot per day for vehicles, trailers, machinery, equipment, or items occupying more than one pallet space.
• Oversized Items: $250.00 per Lot per day for items requiring specialized handling, substantial storage space, or heavy equipment.

Storage charges begin at 12:01 AM on the calendar day following the published Removal Deadline, unless otherwise disclosed.

Charges may continue until property is removed or lawfully transferred or disposed of, to the extent reasonable and enforceable.

Reasonable third-party storage, relocation, transportation, and handling expenses may also be recoverable without duplicative recovery.

FAILURE TO PAY VALID STORAGE OR RELOCATION CHARGES BY THE APPLICABLE DEADLINE CONSTITUTES PAYMENT DEFAULT UNDER SECTION 7.

The Auction Company may pursue lawful collection remedies, including recovery of attorney's fees and court costs where authorized.

8.8 Emergency Relocation and Mandatory Property Vacating

The Purchaser acknowledges that Auction Premises may be subject to strict deadlines arising from property sales, lease expirations, transfers of possession, demolition, construction, or other operational requirements.

When the premises must be vacated, the Auction Company may take reasonable and lawful measures to coordinate relocation of unremoved property.

THE PURCHASER AGREES TO BE RESPONSIBLE FOR REASONABLE, DOCUMENTED, AND LEGALLY RECOVERABLE EXPENSES DIRECTLY RESULTING FROM FAILURE TO REMOVE PROPERTY BY THE REQUIRED DEADLINE.

Such expenses may include necessary labor, equipment, rigging, transportation, temporary storage, and other documented costs.

The Auction Company is not required to violate property-owner instructions, lease obligations, possession deadlines, or applicable law to accommodate late pickup.

8.9 Alternate Removal Arrangements

Requests for alternative removal arrangements must be submitted in writing to [email protected] or [email protected] within twenty-four (24) hours after the Auction concludes, and before the published Removal Deadline if that deadline occurs sooner.

Requests should identify the Purchaser, Lot numbers, reason for the request, and proposed removal arrangements.

A REQUEST DOES NOT CONSTITUTE APPROVAL OR AN EXTENSION.

Only written approval from an authorized representative of the Auction Company establishes an alternative arrangement.

Approval may be conditioned upon Seller or property-owner authorization, site availability, additional charges, insurance, and safety requirements.

The Auction Company is under no obligation to grant an extension.

8.10 Auction Announcements and Removal Instructions

Authorized announcements made before or during an Auction concerning removal dates, pickup hours, site access, loading restrictions, or safety procedures may supplement or modify previously published instructions.

LAWFUL, CLEARLY COMMUNICATED AUCTION-SPECIFIC REMOVAL ANNOUNCEMENTS MADE BEFORE THE AFFECTED PURCHASE IS COMPLETED SHALL CONTROL OVER INCONSISTENT GENERAL REMOVAL INSTRUCTIONS.

Material changes after a completed sale are subject to applicable law and any necessary agreement.

Purchasers are responsible for reviewing the Auction listing, applicable announcements, and written pickup instructions.

8.11 Shipping, Handling, and Freight Charges

Purchasers are solely responsible for arranging shipment or removal of purchased Auction Items.

When shipping assistance is available and authorized, the following handling charges apply unless otherwise disclosed:

• Standard Handling Fee: $25.00 per Lot.
• Oversized or Special Handling Fee: $50.00 per Lot.
• Freight, packaging, crating, insurance, and third-party carrier charges are additional.

Any item requiring specialized crating, rigging, or third-party handling must be coordinated within the published Removal Deadline.

Kiefer Auctioneers, LLC is an Auction Company and not a professional freight or shipping company.

Shipping assistance is a courtesy service and is not guaranteed for every Auction Item.

Purchasers must provide acceptable payment arrangements for third-party freight charges.

Shipping requests do not automatically extend the Removal Deadline.

8.12 Risk of Loss, Theft, Damage, and Insurance

To the fullest extent permitted by applicable law, and subject to the rights and remedies arising from a Seller's breach, the parties agree that risk of accidental loss, theft, or damage to an identified Auction Item transfers to the Purchaser upon lawful completion of the sale, including when the Auctioneer declares the item "Sold" or the online bidding platform confirms the winning bid.

This provision is subject to applicable Texas law, including the rules governing risk of loss and Seller breach.

PURCHASERS ARE STRONGLY ENCOURAGED TO OBTAIN APPROPRIATE INSURANCE COVERING PURCHASED PROPERTY AGAINST THEFT, LOSS, ACCIDENTAL DAMAGE, STORAGE RISKS, LOADING INCIDENTS, AND TRANSPORTATION RISKS.

The Auction Company does not undertake to insure the Purchaser's property unless expressly agreed in writing.

8.13 Loading, Removal, Release, and Indemnification

Purchasers are responsible for arranging safe and lawful loading, removal, rigging, and transportation.

The express ordinary-negligence release, site-entry provisions, assumption-of-risk requirements, and indemnification obligations established in Section 2.4 are incorporated into this Section by reference.

TO THE FULLEST EXTENT PERMITTED BY TEXAS LAW, THE PURCHASER EXPRESSLY RELEASES KIEFER AUCTIONEERS, LLC, THE SELLER, THE AUCTION PREMISES OWNER, AND THEIR RESPECTIVE COVERED REPRESENTATIVES FROM CLAIMS WITHIN THE SCOPE OF THE EXPRESS RELEASE IN SECTION 2.4, INCLUDING CLAIMS ARISING FROM THE RELEASED PARTIES' OWN ORDINARY NEGLIGENCE IN CONNECTION WITH COVERED LOADING, HANDLING, REMOVAL, AND RELATED ACTIVITIES.

This provision does not extend the release beyond its enforceable scope or waive liability for gross negligence, willful misconduct, fraud, or other nonwaivable liability.

To the fullest extent permitted by law, the Purchaser agrees to defend, indemnify, and hold harmless the Auction Company, Seller, Auction Premises owner, and their covered representatives from third-party claims and reasonable expenses to the extent caused by the Purchaser's negligent or wrongful conduct, breach of this Agreement, or persons for whom the Purchaser is legally responsible.

Any indemnity for a protected party's own negligence must satisfy applicable Texas legal requirements.

8.14 Continuing Obligations and Remedies

The Purchaser's valid obligations concerning payment, removal, storage, relocation, property damage, and other legally recoverable expenses survive the Removal Deadline and completion of the Auction.

The Auction Company's lawful remedies are cumulative, subject to applicable law and the prohibition against duplicative recovery.

Failure to enforce a particular charge or deadline in one instance does not automatically waive enforcement in another.

SECTION 9 - VEHICLES, TITLES, FIREARMS, AND REGULATED PROPERTY

9.1 Auctioneer's Role and Titled Property

Kiefer Auctioneers, LLC (the "Auction Company") generally acts as an authorized auctioneer and selling agent on behalf of the Seller, unless expressly identified as the owner or principal in a particular transaction.

Vehicles, trailers, recreational vehicles, machinery, and other titled property are sold subject to the title status, documentation, and disclosures identified in the applicable Auction listing.

The Auction Company does not ordinarily conduct independent title-history investigations, lien searches, ownership background checks, or verification of every document provided by the Seller.

Title information may be obtained from the Seller, available records, or documentation furnished to the Auction Company.

PURCHASERS ARE SOLELY RESPONSIBLE FOR REVIEWING AVAILABLE TITLE INFORMATION BEFORE BIDDING AND DETERMINING WHETHER THE PROPERTY SATISFIES THEIR INTENDED OWNERSHIP, REGISTRATION, LICENSING, AND USE REQUIREMENTS.

The Auction Company does not independently guarantee the accuracy or completeness of Seller-provided title information, except to the extent required by applicable law or expressly represented in writing.

9.2 Title Status, Ownership, and Disclosures

Titled Auction Items may be offered with a transferable certificate of title, salvage title, rebuilt title, other disclosed ownership documentation, or bill of sale only, as legally appropriate.

The applicable title status shall be identified in the Auction listing to the extent known and required by law.

THE AUCTION COMPANY DOES NOT GUARANTEE THAT AN ITEM SOLD WITH A BILL OF SALE ONLY IS ELIGIBLE FOR REGISTRATION, LICENSING, ROAD USE, OR ISSUANCE OF A CERTIFICATE OF TITLE.

Purchasers acknowledge that some vehicles, trailers, and equipment may have registration restrictions, salvage designations, incomplete records, or other disclosed title limitations.

The Auction Company does not warrant that a vehicle will pass inspection, satisfy emissions or safety requirements, or qualify for registration in any particular jurisdiction unless expressly represented in writing.

Nothing in this section eliminates applicable statutory title-transfer obligations, enforceable warranties of title, or remedies for fraud or material misrepresentation.

9.3 Title Documentation, Processing, and Delivery

When a transferable certificate of title is represented as included in the sale, the Seller and Auction Company shall comply with applicable title-transfer requirements.

Title documents will generally be processed and mailed to the Purchaser within approximately fourteen (14) days following receipt of cleared payment and all documentation necessary for transfer, subject to applicable law.

The Purchaser is responsible for providing accurate legal name, mailing address, identification, and other documentation reasonably necessary for lawful title processing.

THE ESTIMATED FOURTEEN-DAY PROCESSING PERIOD DOES NOT SUPERSEDE ANY MANDATORY STATUTORY DEADLINE OR TITLE-TRANSFER REQUIREMENT.

Purchasers are responsible for timely completing any title or registration applications required of them.

9.4 Title Handling Fee

A $25.00 TITLE HANDLING FEE SHALL BE ASSESSED FOR EACH TITLED AUCTION ITEM WHEN DISCLOSED IN THE APPLICABLE AUCTION LISTING OR AUCTION-SPECIFIC TERMS.

The fee compensates the Auction Company for administrative services associated with receiving, reviewing, processing, preparing, and mailing title documentation.

The title handling fee is separate from the Hammer Price, Buyer's Premium, applicable taxes, governmental title fees, registration charges, and other properly disclosed costs.

The fee is earned for title-processing services actually performed and is nonrefundable to the extent permitted by applicable law, except where the agreed service cannot be provided or a refund is otherwise required.

9.5 Title Discrepancies, Delays, and Liability Limitations

The Auction Company does not guarantee that title processing will be free from delays caused by Sellers, governmental agencies, financial institutions, carriers, incomplete documentation, or other circumstances outside its reasonable control.

If a material title discrepancy or transfer problem is identified, the Auction Company may coordinate with the Seller and Purchaser to seek an appropriate lawful resolution.

To the fullest extent permitted by applicable law, the Auction Company disclaims responsibility for consequential, incidental, punitive, or other legally excludable damages arising from title delays or defects outside its reasonable control.

THIS LIMITATION DOES NOT ELIMINATE LIABILITY FOR THE AUCTION COMPANY'S OWN LEGALLY ACTIONABLE CONDUCT, FRAUD, MATERIAL MISREPRESENTATION, MANDATORY STATUTORY DUTIES, OR FAILURE TO PROVIDE A TITLE EXPRESSLY REPRESENTED AS INCLUDED IN THE SALE.

Nothing in this Agreement eliminates legally protected remedies concerning ownership, title status, or transferability.

9.6 Seller Contact Information

Upon written request, the Auction Company may provide available Seller contact information when disclosure is lawful, authorized, and appropriate.

The Auction Company is not required to disclose confidential or legally protected Seller information without an appropriate basis.

Disclosure of Seller information does not relieve the Auction Company of any independent legal obligations.

9.7 Purchaser Responsibility for Taxes, Registration, and Fees

Unless otherwise required by law or expressly agreed in writing, Purchasers are responsible for applicable:

• Vehicle sales or use taxes.
• Title application and transfer fees.
• Registration and licensing fees.
• Governmental processing charges.
• Inspection and compliance requirements.
• Other legally applicable expenses associated with registration or titling.

Purchasers are not automatically responsible for a Seller's preexisting liens, delinquent taxes, or other obligations unless such responsibility is lawful and expressly disclosed or agreed.

9.8 AS IS, WHERE IS - Titled Property

ALL VEHICLES, TRAILERS, AND OTHER TITLED AUCTION ITEMS ARE SOLD "AS IS, WHERE IS, WITH ALL FAULTS," SUBJECT TO SECTION 4 AND APPLICABLE LAW.

The Auction Company makes no guarantee regarding mechanical condition, mileage, operating hours, roadworthiness, functionality, or suitability for any intended purpose, except where an enforceable express warranty applies.

The AS IS disclaimer does not automatically eliminate applicable warranties of title, mandatory title-transfer obligations, or express written representations concerning title status.

FIREARMS AND REGULATED PROPERTY:

9.9 Compliance With Firearms Laws

ALL FIREARMS, AMMUNITION, AND OTHER REGULATED PROPERTY SHALL BE SOLD, TRANSFERRED, AND RELEASED ONLY IN COMPLIANCE WITH APPLICABLE FEDERAL, STATE, AND LOCAL LAWS.

The Auction Company reserves the right to establish lawful additional registration, identification, eligibility, payment, and transfer requirements for Auctions involving firearms or regulated property.

The Purchaser is responsible for determining whether the Purchaser may lawfully purchase, receive, possess, transport, and use the applicable firearm or regulated item.

NO FIREARM SHALL BE RELEASED TO A PERSON WHO IS LEGALLY PROHIBITED FROM RECEIVING OR POSSESSING IT.

9.10 Auctioneer Licensing, Estate Auctions, and Consignment Auctions

The legal requirements governing firearms Auctions depend upon the circumstances of the transaction, including the identity of the Seller, possession and control of the firearms, the nature of the Auction, and whether the activities require a Federal Firearms License (FFL).

Estate-type Auctions and consignment-type Auctions may be subject to different federal licensing and transfer requirements.

When the Auction Company's activities require an FFL, the Auction Company shall conduct those activities only through an appropriately licensed entity and in accordance with applicable federal law.

The Auction Company may require firearms to be transferred through a designated FFL even where a particular transaction would otherwise qualify for a lawful exemption.

THE AUCTION COMPANY SHALL NOT RELEASE FIREARMS AT AN AUCTION LOCATION WHEN THE APPLICABLE LICENSING OR TRANSFER REQUIREMENTS PROHIBIT SUCH RELEASE.

9.11 Purchaser Eligibility and Prohibited Persons

Purchasers must be legally eligible to acquire and possess the firearms purchased.

Persons prohibited from receiving or possessing firearms under applicable law are not eligible to receive firearms through the Auction.

Prohibited-person restrictions may arise from federal or state law, including applicable felony convictions, certain domestic-violence convictions or protective orders, unlawful immigration status, and other legally disqualifying circumstances.

BY BIDDING ON A FIREARM, THE PURCHASER REPRESENTS THAT THE PURCHASER IS LEGALLY ELIGIBLE TO ACQUIRE AND POSSESS THE FIREARM AND WILL COMPLY WITH ALL APPLICABLE TRANSFER REQUIREMENTS.

No person may knowingly purchase or receive a firearm on behalf of another person in violation of applicable law.

False statements concerning identity, residency, eligibility, or the actual transferee may result in denial of transfer, cancellation where legally permissible, and referral to appropriate authorities.

9.12 Age and Residency Requirements

Purchasers must satisfy all applicable age and residency requirements.

For transfers by a federally licensed dealer, federal law generally prohibits transfer of:

• Handguns and firearms other than rifles or shotguns to persons under twenty-one (21) years of age.
• Rifles and shotguns to persons under eighteen (18) years of age.

Different rules may apply to particular lawful transfers between unlicensed persons, estate transactions, and other legally recognized circumstances.

The Auction Company may establish stricter lawful minimum-age requirements for participation in a particular firearms Auction when properly disclosed.

Purchasers must also satisfy applicable federal and state residency restrictions.

9.13 Identification, Background Checks, and Transfer Documentation

When required by law, firearms transfers shall be completed through an appropriately licensed Federal Firearms Licensee.

Purchasers must provide acceptable government-issued identification and complete all legally required transfer documentation.

Where applicable, this may include:

• ATF Form 4473.
• National Instant Criminal Background Check System (NICS) procedures.
• Verification of identity and residency.
• Additional identification or documentation required for the particular firearm or transfer.
• Applicable state-law requirements.

The designated FFL shall determine and administer applicable background-check procedures, exemptions, waiting periods, and transfer requirements.

PAYMENT OF AN AUCTION INVOICE DOES NOT GUARANTEE APPROVAL OR RELEASE OF A FIREARM.

No firearm shall be released until all applicable legal requirements have been satisfied.

9.14 Firearm Transfers and Pickup Locations

Firearms must be transferred at a location where the transfer is legally authorized.

The Auction Company may require transfer and pickup through a designated FFL or another lawful transfer arrangement.

The Purchaser acknowledges that the designated firearm transfer location may differ from the Auction Premises or the general load-out location.

FIREARMS SHALL NOT BE RELEASED FROM AN UNLICENSED AUCTION LOCATION WHEN FEDERAL LAW REQUIRES THE TRANSFER TO OCCUR AT AN FFL'S AUTHORIZED PREMISES OR ANOTHER LAWFUL LOCATION.

The Auction Company may establish firearm-specific pickup procedures that differ from the general removal requirements in Section 8.

9.15 Out-of-State Purchasers and Interstate Transfers

Purchasers residing outside Texas must comply with applicable federal and state laws governing interstate firearms transfers.

When required by law, firearms purchased by out-of-state residents must be transferred through an appropriately licensed FFL in the Purchaser's state of residence.

Certain lawful transfers of rifles or shotguns by an FFL may be permitted under applicable federal and state requirements.

Handgun transfers to unlicensed out-of-state purchasers generally require transfer through an FFL in the Purchaser's state of residence.

Purchasers are responsible for confirming that the firearm may lawfully be transferred to and possessed in their state or jurisdiction.

The Auction Company may decline or cancel a proposed transfer when the receiving jurisdiction prohibits the firearm or the transfer cannot lawfully be completed.

9.16 Firearm Shipping, Handling, and Transfer Fees

Firearms requiring shipment shall be transported in accordance with applicable federal and state laws and carrier requirements.

The Auction Company may require firearms to be shipped directly to an appropriately licensed receiving FFL.

The Purchaser is responsible for properly disclosed and legally applicable:

• Firearm shipping charges.
• Packaging and handling fees.
• Shipping insurance.
• Receiving FFL transfer fees.
• Background-check or processing fees.
• Other legally required transfer expenses.

Firearm shipping and transfer arrangements must be coordinated promptly and in accordance with the applicable Auction-Specific Terms.

The Auction Company is not required to arrange unlawful shipment or transfer.

9.17 Denied, Delayed, or Prohibited Transfers

A firearm shall not be released when a background check is denied, a required transfer approval has not been obtained, or the transfer would otherwise violate applicable law.

A delayed background check does not automatically constitute a denial or authorize immediate release.

The designated FFL shall determine when a transfer may lawfully proceed.

When a transfer cannot be completed, the Auction Company may, subject to applicable law and Seller authority:

• Require the Purchaser to resolve an eligibility or documentation issue.
• Coordinate a lawful alternative transfer.
• Arrange return of the firearm to the Seller when authorized.
• Arrange lawful resale or another permitted disposition.
• Pursue other available contractual remedies.

THE PURCHASER MAY BE RESPONSIBLE FOR PROPERLY DISCLOSED AND LEGALLY RECOVERABLE EXPENSES RESULTING FROM A FAILED TRANSFER ATTRIBUTABLE TO THE PURCHASER'S INELIGIBILITY, FALSE INFORMATION, OR FAILURE TO COMPLY WITH REQUIRED TRANSFER PROCEDURES.

Any cancellation, refund, application of proceeds, or disposition shall comply with applicable law.

No provision authorizes unlawful forfeiture of payments or property.

9.18 National Firearms Act and Specially Regulated Firearms

Firearms or devices regulated under the National Firearms Act (NFA), when lawfully offered for sale, may be subject to additional registration, transfer approval, documentation, tax, and possession requirements.

Examples may include machine guns, short-barreled rifles, short-barreled shotguns, destructive devices, and other items regulated under applicable federal law.

Purchasers must satisfy all applicable requirements before transfer or possession.

NO NFA-REGULATED ITEM SHALL BE RELEASED UNTIL THE TRANSFER IS LAWFULLY AUTHORIZED AND ALL REQUIRED APPROVALS HAVE BEEN OBTAINED.

NFA-related transfer requirements, taxes, and fees shall be determined under the law in effect at the time of transfer.

The Auction Company may decline to offer or transfer a regulated item when lawful compliance cannot be established.

9.19 Antique Firearms, Curios, Relics, and Collectibles

Firearms represented as antique, curio, relic, collectible, or historically significant are subject to applicable federal and state classifications.

The Auction Company does not guarantee that a firearm qualifies for an exemption from ordinary firearms-transfer requirements solely because it is described as antique, vintage, collectible, or a curio or relic.

Federal antique-firearm classifications and Curio and Relic FFL privileges are distinct and shall be applied only when legally appropriate.

Purchasers are responsible for determining the applicable legal classification and transfer requirements.

The Auction Company may require FFL involvement when the classification or lawful transfer status cannot be satisfactorily established.

9.20 Ammunition, Components, and Other Regulated Items

Ammunition, firearm components, accessories, and other regulated items may be subject to additional federal, state, local, or carrier restrictions.

Purchasers must satisfy all applicable age, eligibility, possession, shipping, and transfer requirements.

The Auction Company reserves the right to restrict or prohibit sale, shipment, or release of items when legal compliance cannot be established.

No provision authorizes transfer of prohibited weapons, ammunition, or regulated devices.

9.21 Firearm Condition, Safety, and Warranties

ALL FIREARMS ARE SOLD "AS IS, WHERE IS, WITH ALL FAULTS," SUBJECT TO SECTION 4 AND APPLICABLE LAW.

The Auction Company does not guarantee that any firearm is safe to fire, mechanically sound, functional, complete, or suitable for use.

Firearms may contain hidden defects, altered components, damaged mechanisms, improper modifications, or other hazardous conditions.

PURCHASERS ARE STRONGLY ENCOURAGED TO HAVE ALL FIREARMS INSPECTED BY A QUALIFIED GUNSMITH BEFORE LOADING OR FIRING.

No person may load, discharge, test-fire, or otherwise operate a firearm on Auction Premises without lawful authorization.

9.22 Firearm Possession, Transportation, Storage, and Use

Upon lawful transfer and release, Purchasers are responsible for complying with all applicable laws governing possession, transportation, storage, handling, and use of firearms and ammunition.

Purchasers are responsible for determining whether permits, licenses, secure-storage requirements, or other legal restrictions apply.

The Auction Company is not responsible for a Purchaser's unlawful possession, transportation, or use following lawful transfer, except to the extent liability cannot legally be excluded.

9.23 Firearms Liability and Indemnification

The inspection, AS IS sale, warranty-disclaimer, risk-of-loss, site-entry, and liability provisions in Sections 2.4, 4, and 8 apply to firearms transactions to the extent permitted by law.

To the fullest extent permitted by applicable law, Purchasers agree to indemnify the Auction Company, Seller, and other covered parties against third-party claims and reasonable expenses to the extent caused by the Purchaser's unlawful, negligent, or wrongful possession, transportation, handling, storage, transfer, or use of purchased firearms.

Nothing in this provision eliminates liability for gross negligence, willful misconduct, fraud, unlawful transfers, or other nonwaivable liability.

9.24 Firearms Auction-Specific Terms

The Auction Company may establish additional lawful requirements for Auctions involving firearms, including:

• Advance bidder approval.
• Additional identification requirements.
• Designated FFL transfer arrangements.
• Firearm-specific pickup locations and schedules.
• Background-check procedures.
• Shipping restrictions.
• Transfer and handling fees.
• Special payment or documentation requirements.

Such requirements shall be disclosed through the applicable Auction listing or registration process.

THE PURCHASER IS RESPONSIBLE FOR REVIEWING ALL FIREARM-SPECIFIC TERMS BEFORE BIDDING.

Where an Auction-Specific Term lawfully establishes additional or different requirements, that term shall control for the applicable Auction.

SECTION 10 - BIDDER CONDUCT, COMMUNICATIONS, MARKETING, AND RECORDINGS

10.1 Bidder Conduct and Participation Rules

The Auction Company reserves the right to deny, suspend, restrict, or revoke participation privileges for legitimate reasons, including:

• Fraudulent or materially inaccurate registration information.
• Failure to satisfy payment obligations.
• Unsafe or disruptive conduct.
• Unauthorized equipment operation.
• Threatening, abusive, or harassing behavior.
• Interference with Auction operations.
• Failure to comply with pickup or removal requirements.
• Violations of applicable law or Auction Terms and Conditions.

The Auction Company may require individuals engaging in unsafe or disruptive conduct to leave the Auction Premises.

Suspension or revocation does not automatically eliminate obligations arising from completed purchases.

10.2 Consent to Auction Communications and Marketing

By completing registration for an Auction conducted by Kiefer Auctioneers, LLC, each Bidder acknowledges and agrees that the Auction Company may use the contact information provided during registration for lawful Auction-related communications and marketing purposes.

These communications may include registration confirmations, bidding information, invoices, payment reminders, pickup instructions, shipping coordination, Auction announcements, and other transaction-related notices.

Marketing and Promotional Communications:

By accepting these Terms and Conditions during registration, each Bidder also acknowledges and agrees to receive lawful marketing and promotional communications from Kiefer Auctioneers, LLC concerning future Auctions, consignments, equipment sales, estate liquidations, commercial and industrial Auctions, and related Auction services, subject to applicable law.

Marketing communications may include email, direct mail, and other lawful methods.

Automated Marketing Text Messages and Calls:

Where applicable law requires separate prior express written consent for automated promotional text messages or calls, such consent shall be obtained through a legally sufficient affirmative acknowledgment and disclosure during registration or another authorized consent process.

Consent to automated promotional communications is not required as a condition of purchasing goods or services where applicable law prohibits such a condition.

The Auction Company may retain records of consent, including electronic acknowledgment, registration information, timestamps, and applicable disclosures.

Opt-Out Rights:

Recipients may withdraw consent to promotional communications through applicable unsubscribe instructions, recognized text-message opt-out methods, or by contacting the Auction Company.

The Auction Company shall honor legally valid opt-out requests within applicable timeframes.

Withdrawal of promotional consent does not automatically prohibit lawful transactional communications concerning an existing Auction purchase or other contractual obligation.

10.3 Photography, Video, and Security Recordings

The Auction Company may use lawful photography, video recording, and surveillance systems at Auction locations for safety, security, documentation, operational, and promotional purposes.

By entering Auction Premises, attendees acknowledge that photography or recording may occur.

Any use of an identifiable person's image, voice, or likeness shall remain subject to applicable privacy, publicity, and consent requirements.

The Auction Company may retain recordings and related records for legitimate business, security, and legal purposes.

10.4 Auction Records and Information Sharing

The Auction Company may maintain registration records, bidding histories, invoices, payment records, communications, and other information reasonably necessary to conduct Auctions and administer transactions.

Information may be shared with Sellers, authorized bidding platforms, payment processors, shipping providers, title processors, professional advisers, service providers, or governmental authorities when reasonably necessary and lawful.

The Auction Company shall handle personal information in accordance with applicable privacy and data-security laws.

SECTION 11 - FORCE MAJEURE AND ADDITIONAL AUCTION CONDITIONS

11.1 Force Majeure

The Auction Company shall not be liable for delays or failures in performance to the extent caused by circumstances beyond its reasonable control, subject to applicable law.

Such circumstances may include:

• Severe weather or natural disasters.
• Fire, flooding, or other emergencies.
• Widespread utility or communications outages.
• Cyberattacks or material technology disruptions.
• Governmental restrictions or orders.
• Labor disruptions.
• Property-access restrictions beyond the Auction Company's reasonable control.
• Other extraordinary events preventing or materially interfering with Auction operations.

The Auction Company may reasonably postpone, reschedule, suspend, or modify affected operations when necessary.

This provision does not automatically cancel completed sales or excuse payment obligations unrelated to the event.

11.2 Auction-Specific Terms

The Auction Company may establish additional lawful requirements for particular Auctions, including:

• Special payment arrangements.
• Bidder deposits.
• Inspection appointments.
• Property-access restrictions.
• Specialized removal or rigging requirements.
• Additional insurance requirements.
• Title and transfer procedures.
• Shipping limitations.
• Special handling fees.
• Mandatory property-vacating deadlines.

Such requirements shall be disclosed through the applicable Auction listing, authorized bidding platform, or registration process.

11.3 Real Property and Specialized Assets

Real property, livestock, titled assets, regulated equipment, and other specialized property may be subject to additional laws and transaction-specific requirements.

11.4 Changes to Auction Operations

The Auction Company may make reasonable changes to Auction procedures, scheduling, inspection arrangements, and removal operations when necessary for safety, legal compliance, property access, or other legitimate operational reasons.

Material changes shall be communicated through appropriate Auction channels when reasonably practicable.

Changes shall not retroactively alter completed sales contrary to applicable law.

SECTION 12 - ENTIRE AGREEMENT, ACCEPTANCE, GOVERNING LAW, AND FINAL PROVISIONS

12.1 Entire Agreement

This Agreement, together with applicable Auction-Specific Terms and documents expressly incorporated by reference, constitutes the agreement governing participation in the relevant Auction and the resulting transactions.

It supersedes prior or contemporaneous communications concerning the same subject matter to the extent permitted by law.

Nothing in this provision excludes legally enforceable representations or rights that cannot lawfully be waived.

12.2 Electronic Acceptance

Bidders shall accept these Terms and Conditions through electronic and in-person bidder registration, affirmative acknowledgment, electronic signature, or another legally recognized method.

Electronic acceptance and records shall be governed by applicable law, including the Texas Uniform Electronic Transactions Act where applicable.

The Auction Company may retain electronic records documenting registration, acceptance, bidding activity, and completed transactions.

12.3 On-Site Acceptance

On-site Bidders shall be provided legally sufficient notice of the applicable Terms and Conditions and an appropriate method of acknowledging acceptance during registration.

The Auction Company may require written or electronic acknowledgment before issuing bidding credentials.

12.4 Amendments and Auction Announcements

The Auction Company may publish lawful amendments, corrections, and Auction-Specific Terms.

Material amendments shall apply prospectively unless otherwise lawfully agreed.

An amendment shall not retroactively alter a completed sale in violation of applicable law.

12.5 Governing Law, Jurisdiction, and Venue

This Agreement shall be governed by and construed in accordance with the laws of the State of Texas, subject to mandatory applicable law.

All matters concerning jurisdiction, venue, consent to jurisdiction, and legal enforcement shall be governed by Section 2.6 of this Agreement.

Nothing in this section shall be interpreted to override any mandatory jurisdictional, venue, or statutory requirement established by applicable law.

12.6 Severability

If any provision of this Agreement is determined by a court of competent jurisdiction to be invalid, unlawful, or unenforceable, that determination shall not invalidate the remaining provisions, which shall continue in effect to the fullest extent permitted by applicable law.

This provision supplements the severability protections established in Sections 1.4 and 2.6 and shall be interpreted consistently with those sections.

12.7 No Waiver

The Auction Company's failure or delay in enforcing any provision does not, by itself, constitute a waiver of the right to enforce that provision in the future.

Any waiver must be authorized by the Auction Company and shall apply only to the specific matter for which it is given.

12.8 Survival of Obligations

Valid payment obligations, accrued liabilities, lawful indemnification obligations, property-damage obligations, and other provisions intended by their nature to survive completion of an Auction shall remain effective to the extent permitted by law.

12.9 Interpretation and Conflicting Terms

These general Terms and Conditions shall be interpreted together with the applicable Auction-Specific Terms and other documents expressly incorporated into this Agreement under Section 1.2.

When a lawful, clearly disclosed Auction-Specific Term expressly addresses a matter differently from a general provision, the Auction-Specific Term shall control for that Auction to the extent permitted by applicable law.

No Auction-Specific Term, announcement, amendment, or other provision shall be interpreted to authorize conduct prohibited by law, retroactively alter a completed sale contrary to applicable law, or eliminate statutory rights that cannot lawfully be waived.

12.10 Contact Information

Kiefer Auctioneers, LLC

Cory Kiefer - Auctioneer

Texas Auctioneer License No. 16155

Phone: (903) 821-8717

Auction Company Office

Phone: (940) 391-9111

Email: [email protected] or [email protected]

Website: www.kieferauctions.com