THIS IS AN ONLINE ONLY AUCTION

A. Please read the terms carefully as they are a legal binding contract between you and Wears Auctioneering Inc.

B. Payment for all purchases is due immediately at the conclusion of the auction. Wears Auctioneering will charge Purchase price, BuyerÂ’s Premium charges and any applicable handling fees to the credit card that you submit at time of registration. If the charges are declined by the credit card processor a Non-sufficient Funds charge of $25.00 will be assessed to the buyer. The buyer will immediately be notified of NSF transaction through e-mail and be given 24 hours to contact Wears Auctioneering with an alternative payment method. Please check to ensure your account accepts email from Wears Auctioneering.

C. If purchases are not settled within 24 hours of the close of the auction, they are considered in default. Upon default, the Bidder will be black listed on Wears Auctioneering Inc. as well as MarkNet auctions.

D. Any item(s) remaining after designated pick up time are considered forfeited and ownership will revert back to seller. No refunds will be given.

E. Any item(s) Wears Auctioneering Inc. hauls from sale site are subject to a $20.00+ per item hauling fee. Anyone who does not pick up their item(s) at the specified pick-up time is subject to a $20 convenience fee.

F. Due diligence is the responsibility of the Bidder/Buyer. All sales are final. No credit card charge backs will be allowed. Items may only be removed upon receipt of payment in full. Buyers assume complete responsibility for care of each purchase at time of sale. We reserve the right to refuse service to anyone. All statements made prior to the sale of any item take precedence over written material and any prior verbal statements. The auction company is not responsible for accidents, thefts, errors or omissions.

G. The auctioneer reserves the right to add or remove items from the auction; split or combine lots; add minimum bids or reserve prices. The auctioneer reserves the right to cancel, suspend, extend or reschedule an individual item and or auction event or to make changes to the auction closing times or inspection or removal times.

H. BUYERS PREMIUM: A 10% buyerÂ’s premium will be added to each purchase. For example, if you bid $100.00, at checkout you will be charged $110.00.

I. PARTICIPATION REQUIREMENTS: Valid credit card required for bidding approval. We will accept Visa, MasterCard, and Discover.

J. PAYMENT: All accounts MUST be settled at the conclusion of the auction. We accept Visa, MasterCard, and Discover. Payment must be made prior to Pick-up. Paid in full invoice must be presented by buyer or assigned representative prior to loading items. The credit card used at time of registration will be charged for your purchase(s), plus buyerÂ’s premium(s), and per item handling fee. If invoice is not paid within 24 hours of conclusion of auction. Each transaction necessary to collect insufficient funds will have a $25.00 fee imposed.

K. CURRENCY TYPE: USD

L. PAYMENT INSTRUCTIONS: Visa, MasterCard, Discover. You will receive an invoice after the auction ends with confirmation of items won with the purchase total and applicable fees. You MUST bring your paid in full invoice with you to claim your items. Your credit card will be charged for your purchase(s).

M. AUCTION CLOSING: The bidding on this Auction will close Sunday August 23rd @ 6:00 PM (CST). This auction features EXTENDED BIDDING! This feature extends the bidding on a lot for FIVE minutes past the closing time, if a bid has been placed on that lot within the last FIFTEEN minutes of the auction. It will remain open until there are no bids on that lot during the extended time period. This only affects lots with last minute bids. Any lot not bid on in the last fifteen minutes will close as scheduled. An example would be if you were participating in an Online Auction that closed at 6:00 PM and you placed your bid at 5:55 p.m. That lot would be extended until 6:05 p.m. and would keep extending FIVE minutes after each new bid is placed. It will stop extending when no bid had been placed during the extended time period. This auction also features MAXIMUM BIDDING. When you place your MAX BID, the current bid price does not automatically go to your max bid. Someone else has to bid to increase the current price and the computer will automatically bid up to your max in the increments specified. If someone has already entered a MAX BID on an item you are bidding on, the system will automatically bid for you until you are the current high Bidder or you reach your MAX BID. If you have reached your MAX BID and are still not the current high Bidder, the system will give you the opportunity to enter another MAX BID. You may request out bid notices when registering for your online bidding account. You can choose to have them sent to your email, cell phone via text message or both. If you are not able to be around a computer/mobile device during the closing of the auction or receive and/or read your outbid notices, we HIGHLY RECOMMEND you enter your MAX BID when bidding. Your MAX BID would be considered the maximum amount you are willing to pay for your item. Please remember, you can always raise your max bid, but you CANNOT lower it. Be aware of this while bidding. If you have any questions please call us at 319-624-3779.

N. PICK-UP/LOAD OUT: Winning Bidders can pick their items up in Cedar Rapids, IA on Tuesday, August 25th between 4PM and 6PM (CST). The exact address of pick-up location will be relayed to winning bidders via email with paid invoice. Your credit card will be charged for your purchase(s), plus buyerÂ’s premium(s) and applicable handling fees. Any item(s) remaining after August 25th @ 6:00 PM are considered forfeited and ownership reverts back to the seller. No refunds will be given. Forfeited items may be sold at the discretion of the seller.

O. Please bring your own packing materials, moving equipment, and/or manpower required to remove your items at the specified pick up time.

P. SHIPPING: Shipping is NOT available for this auction. Pick-Up ONLY.

Q. WARRANTY & CONDITION OF ITEMS SOLD: All items are sold AS IS, WHERE IS, with NO WARRANTY expressed or implied. It is the responsibility of the buyer to determine the condition of the items and bid accordingly. All items must be considered used or previously owned property even if labeled as new in box. We cannot guarantee the item will be in full retail condition. Place your bids accordingly and read all descriptions and Terms prior to placing your bids.

R. CAUTION: For demonstration purposes, various items may be joined. Do not assume a lot consists of more than one item simply because they are connected or pictured together. Please inspect the lot numbers and read the descriptions carefully.

S. CATALOG DISCREPANCIES: You are bidding on the described item not the photograph, occasionally the wrong photo may be displayed, always read the item description.

T. CHOOSE WISELY: We want everyone to get a good deal and most will. However, when you bid on the wrong item or decide an item is not suited for your intended use, our clients are not willing to assume the cost of your mistakes. When in doubt about condition, completeness or suitability for intended use, please bid accordingly.

U. Special Terms of Sale

1. All property is sold AS-IS Where-Is, and ALL SALES ARE FINAL. It is the Bidders responsibility to determine condition, age, genuineness, value or any other determinative factor. Wears Auctioneering Inc. may attempt to describe the merchandise in advertising and on the Internet, but makes no representations. In no event shall Wears Auctioneering Inc. be held responsible for having made or implied any warranty of merchantability or fitness for a particular purpose. Bidder shall be the sole judge of value. Some items may be listed as NIB/New in Box. Every effort will be made to ensure that each item stays in the same condition that it was photographed in. However all property is sold AS-IS, and ALL SALES ARE FINAL.

2. It is the Bidders responsibility to determine condition, age, genuineness, value or any other determinative factor. Wears Auctioneering Inc. shall endeavor to describe in detail each item and any pertinent information about it. Wears Auctioneering Inc. will not be responsible for any errors or omissions in the description of the merchandise unless it is a material and intentional misrepresentation of the item itself. Bidder agrees that everything is sold as is and that they may not return any item they purchase.

3. Wears Auctioneering Inc. is providing Internet bidding as a service to Bidders. Bidders acknowledge and understand that this service may or may not function correctly the day of the auction close. Under no circumstances shall Bidders have any kind of claim against Wears Auctioneering Inc. or anyone else if the Internet service fails to work correctly before or during the Online Auction. Wears Auctioneering Inc. will not be responsible for any missed bids from any source. Internet Bidders who desire to make certain their bid is acknowledged, should use the max bid feature and leave their maximum bid 24 hours before the auction. Wears Auctioneering Inc. reserves the right to withdraw or re-catalog items in this auction.

4. The Bidder is responsible for knowing which item is being bid on. If the Bidder is unsure, they should inquire or not bid. When becoming the winning Bidder at auction, you have affected a contract and will be expected to pay for items in which you were evidenced to be the successful Bidder. Auctioneer will not honor a mistake.

5. The Auctioneer reserves the right to accept bids in any increment he feels is in the best interest of his client, the Seller. The Auctioneer reserves the right to reject the bidding of any person whose conduct, actions, or adverse comments he feels is not in the best interest of the Seller.

6. Purchaser does hereby indemnify and hold harmless Auctioneer and Seller from any and all damages, claims or liabilities from injuries to persons or property of any type whatsoever caused during the sale or by the removal of items purchased. Purchaser assumes all risk and liability whatsoever resulting from the use of the item(s) sold hereunder; and shall defend, indemnify, and hold harmless Auctioneer and Seller from any liability.

7. If the foregoing conditions or any other applicable conditions are not complied with, in addition to other remedies available to Auctioneer and Seller by law, including without limitation, the right to hold the purchaser liable for the bid price, the Auctioneer, at their option may (1) resell the property publicly or privately, with purchaser being liable for the payment of any deficiency plus all costs incurred, or (2) cancel the sale, retaining liquidated damages on all payments made by purchaser, Auctioneer commission and all other incidental damages will be charged.

8. Information in brochures, catalogs and other advertisements are from sources believed to be reliable; however prospective purchasers are urged to inspect the inventory or property to satisfy themselves as to condition, model, manufacturer, year, features, mileage, survey, acres, etc. Neither the Auctioneer nor our client make any guarantees and are not responsible for listing or advertising inaccuracies or discrepancies.

Woodworking Tools Online 15-0823.ol