TERMS AND CONDITIONS These Terms and Conditions (Terms) apply to each retail/wholesale sale, auction or other listing (each, an Event) conducted by Florida Auction Network LLC (FANLLC) on behalf of a consignor/seller (each, a Seller) of property, vehicles, items, lots, etc. (each, a Property). As used in these Terms, each person who participates in any Event is a Bidder. As used in these Terms, the terms FANLLC, Seller, and Bidder shall also refer to the respective principals, agents, and affiliates of each. The Winning Buyer is the Participant that submits the highest net bid in an auction Event and is acknowledged by FANLLC as the winning bidder. As used in these Terms, each bid or offer submitted in any Event is an Offer. FANLLC conducts Events solely on behalf of consignors/sellers, and is not acting as agent for any Bidder in any capacity. By registering for any Event, Participant acknowledges having read, agreed to and accepted these Terms. By submitting an Offer on property, vehicles, items, lots, etc., Bidder is deemed to have accepted the terms and conditions of the Event and items at the time the Offer was submitted, and such terms and conditions shall govern and control over these Terms to the extent of any conflict. 1. REGISTRATION PROCESS Bidders must register in order to participate in any Event. Government Issued photo-id is required for all Bidder Registrations. Registration information the Bidder provides shall be current, complete, and accurate. Bidders must be 18 years of age or older. Failure to register or provide updated information may be grounds for denial of services. Bidder agrees that they are on the premises/site at the Auctioneer's discretion and may be required to leave at any time for any reason. FANLLC may require Bidders to show readily available funds and/or complete a qualification form prior to registration approval. FANLLC may require additional proof of funds in order to submit an Offer above the amount of proof of funds previously approved. The proof of funds may vary by Bidder or at FANLLC discretion. Automobile Dealers and entities with Florida Annual Resale Certificate for Sales Tax must provide license and sales tax certificates at time of registration. Bidder authorizes FANLLC to contact Bidder by phone, email, fax, mail, or other means as provided during registration. FANLLC may waive, modify, or impose additional registration requirements for certain Bidders in its sole and absolute discretion. 2. DUE DILLIGENCE Documents: Prior to submitting an Offer, Bidders must review the Terms & Conditions, posted documentation and signs, Terms & Conditions on Bidder Card, and any applicable addenda. The documents will be in plain sight, offered to Bidders as they register, and available upon request. The Documents for each Event must be reviewed in advance of making an Offer and are non-negotiable. All Offers should be based on the terms set forth in the Documents, and Winning Buyers shall accept such terms. DUE DILIGENCE: It is the Bidder's responsibility to conduct its own due diligence and investigate all matters relating to each Event, property, vehicles, items, lots, etc. that the Bidder is interested in purchasing. Including, without limitation, legal matters, physical condition and attributes, environmental matters, economic matters, encumbrances, and all other aspects. Bidder assumes all risks associated with any such inspection. All Offers should be based solely on Bidder's independent due diligence and any information contained in the Documents. Property, vehicle, item, lot, etc. information has been gathered from Consignor/Seller and a variety of other sources and has not been independently verified by FANLLC. Bidders are encouraged to consult with an appraiser, expert, license holder, broker, contractor, attorney, financial advisor, tax advisor, and/or other professional and fully investigate public records and other sources of information before submitting an Offer. In connection with any due diligence, inspection, visit and/or investigation of property, vehicles, items, lots, etc., Bidder shall, and are responsible for ensuring that any person or entity acting on Bidder's behalf shall, (a) refrain from placing or permitting any new liens on the properties, vehicles, items, lots, etc., (b) repair all damage arising from inspections, (c) indemnify, defend and hold harmless Consignor/Seller and FANLLC from all liability, claims, demands, damages and/or costs directly or indirectly arising from inspections, and (d) carry any required policies of liability, worker's compensation, and other applicable insurance defending and protecting Consignor/Seller and FANLLC from liability for any injuries to persons or property occurring during any inspection. While descriptions are believed to be accurate, information and quantities given by FANLLC in writing and through verbal announcement is offered as a guide only. Responsibility for proper nomenclature and identification of Event/Auction merchandise is the responsibility of the bidder. Bidders are advised to inspect items prior to bidding/purchase. VALUE: Value is based on appraisals, estimates, replacement cost, initial cost, but will ultimately be determined by the purchase price or by the highest bid received from the Winning Buyer. 3. BUYING/BIDDING All items are sold AS-IS, WHERE-IS, WITH ALL FAULTS AND DEFECTS THEREIN. There is no guarantee as to make, model year, miles, hours, or merchantability by FANLLC. FANLLC makes no warranties, express of implied about any items. All sales are final and items become the responsibility of the Winning Buyer as soon as the hammer drops, sold is said, or by any means the Auctioneer uses to finalize the sale. IRREVOCABILITY OF OFFERS: All offers submitted during any Event/Auction are irrevocable. PURCHASE DOCUMENTS: A receipt will be provided for all sales/transactions, once full payment is received. Some sales/transactions will require additional Purchase Documents and paperwork. Examples would include automobile or firearm purchases. In the event the Winning Buyer does not meet the Purchase Document requirements, FANLLC may declare the Winning Buyer to be in default. In the event of such a declaration, Winning Buyer's offer shall be null and void and FANLLC shall have absolutely no further liability or obligation to that Participant. In addition, such Winning Bidder shall be subject to liquidated damages set forth in these terms. ENTITY BUYERS: Winning Buyers wanting to take title in the name of an entity (not as an individual) may be required to provide the necessary entity formation documents and resolutions authorizing the purchase within the timeframe specified by FANLLC (which may be before or after the Event, in FANLLC's sole discretion). BUYER'S PREMIUM AND TOTAL PURCHASE PRICE: The actual total purchase price (Total Purchase Price) for a property, vehicle, item, lot, etc. will be equal to the Offer amount plus a buyer's premium (Buyer's Premium). The amount of the Buyer's Premium may vary and will be disclosed in written and verbal announcements. Taxes and fees will be collected as required by law. SUBJECT TO CONFIRMATION: Consignor/Seller may designate certain Offers as subject to confirmation in its sole and absolute discretion, in which case Winning Buyer's purchase is subject to, and contingent upon, Consignor/Seller approving the purchase in its sole and absolute discretion. RESERVE AUCTION EVENTS: Except for properties, vehicles, items, lots, etc. noted Absolute Auction or Minimum Bid Auction, all properties, vehicles, items, lots, etc. in Events/Auctions have a minimum selling price established by Consignor/Seller (Reserve Price). The starting bid is not the Reserve Price. Except where prohibited by law, FANLLC may counter bid on behalf of Consignor/Seller on any property, vehicle, item, lot, etc. up to the amount of the Reserve Price (and no such bid will result in a sale of the property, vehicle, item, lot, etc.). If the Reserve Price is not met, Consignor/Seller is under no obligation to sell the property; however, Consignor/Seller may accept a bid that is below the Reserve Price in its sole discretion. MINIMUM BID AUCTION EVENTS: Properties, vehicles, items, lots, etc. to be auctioned without a Reserve Price but with a minimum bid will be listed in Minimum Bid Auction and will be sold to the highest bidder that bids at or above the minimum bid amount. ABSOLUTE AUCTION EVENTS: Properties, vehicles, items, lots, etc. to be auctioned without a Reserve Price or minimum bid will be listed in an Absolute Auction and will be sold to the highest bidder. EXTENSION OF AUCTION TIME: In order to allow final bids to be properly input and processed during Events/Auctions, FANLLC may extend the time for bidding on any property, vehicle, item, lot, etc. in its discretion to allow for additional bids. Once FANLLC allows time to elapse, then the bidding will be closed. 4. TITLED ITEMS Titled items paid for with cash will be released/processed immediately following the Event. Titled items paid for with check will only be released/processed once payment has cleared FANLLC's bank account. INDIVIDUALS/ENTITIES PURCHASING VEHICLES WILL BE REQUIRED TO PAY ALL TITLE, REGISTRATION, AND TAG FEES ACCORDING TO FLORIDA DEPARTMENT OF MOTOR VEHICLE POLICY. The State of Florida DMV requires Florida Auction Network LLC to transfer all titles and tags. The title transfers for Florida residents/entities must be completed in our office, at 3847 E. Business Hwy 98, Panama City, FL 32401. The fees for all titled items purchased by individuals/entities are: All tag and title transactions include: Required State of Florida title fees, Clerk/Notary fees, Administrative handling and postal fees TITLE TRANSFER $120.00 TRANSFER OF EXISTING PLATE $95.00 NEW DECAL FEE $160.00 PURCHASE OF NEW PLATE $400.00 THE ABOVE FEES ARE FOR VEHICLES UNDER 5000LBS TRUCKS, BUSES, VANS, ETC. OVER 5000LBS ARE PRICED BASED ON WEIGHT ON A RANGING FEE SCHEDULE. DEALERS MAY BE REQUIRED TO PAY A $10 TITLE MAIL FEE, OR PROVIDE A FEDEX OR UPS ACCOUNT NUMBER TO COVER PARCEL COSTS. 5. PAYMENT All purchases must be settled in full on Event/Auction Day by CASH, CREDIT CARD, COMPANY OR PERSONAL CHECKS WILL BE ACCEPTED ONLY WHEN ACCOMPANIED BY A VALID CURRENT LETTER OF GUARANTEE FROM YOUR BANK. CASHIER CHECKS WILL ONLY BE ACCEPTED WHEN ACCOMPANIED BY A LETTER VERIFYING FROM THE ISSUING BANK. SAMPLE GUARANTEE LETTER (FROM YOUR BANK): Mr./Mrs. Is a customer of our bank and we will guarantee payment of checks written on account (number) up to the amount of (amount) for purchase at the Auction for (specify auction). NO CHECKS WILL BE ACCEPTED WITHOUT VALID CURRENT BANK LETTER OF GUARANTEE, ALL PAYMENT IS MADE PAYABLE TO FLORIDA AUCTION NETWORK LLC. SALES TAX WILL BE COLLECTED ON ALL TAXABLE ITEMS UNLESS BIDDER HAS A VALID FLORIDA RESALE CERTIFICATE AT THE TIME OF REGISTRATION. 6. REMOVAL OF PURCHASED ITEMS A RECEIPT SHOWING PAID IN FULL IS REQUIRED TO REMOVE ITEMS FROM PREMISES/SITE. NO ITEMS WILL BE REMOVED FROM PREMISES/SITE BEFORE FULL PAYMENT IS RECEIVED. CHECK PAYMENTS MUST CLEAR FANLLC BANK ACCOUNT TO BE CONSIDERED AS PAID IN FULL. ONCE ITEM IS PAID IN FULL, WINNING BUYER HAS 72 HOURS TO REMOVE ITEM FROM PREMISES/SITE. ITEMS NOT REMOVED AFTER 72 HOURS ARE SUBJECT TO $10 PER DAY STORAGE FEE FOR NON-TITLED ITEMS, AND $25 PER DAY STORAGE FEE FOR TITLED ITEMS. ANY ITEM LEFT OVER 30 DAYS WILL BE CONSIDERED ABANDONED AND BECOME PROPERTY OF FANLLC. FANLLC MAY DISPOSE OF THE ITEM AT ITS DISCRETION. 7. GENERAL INFORMATION FANLLC reserves the right to deny, limit, or impose conditions on submitting Offers/Bids and/or access to the Event/Auction at any time, for any reason. FANLLC may postpone or cancel any Event/Auction, rearrange the order or sequence of the properties, vehicles, items. lots, etc. in the Event/Auction, modify the Terms by written or verbal announcement, remove any property, vehicle, item, lot, etc. from the Event/Auction, or reject any or all Offers/Bids. Only FANLLC may issue press releases and other public communications regarding the Event/Auction and/or any Property offered or sold during an Event/Auction. These Terms and the conduct of each Event/Auction shall be governed by the laws of Florida. Any information on any website, in any brochure, e-mail or postcard and any and all information available regarding properties, vehicles, items, lots, etc. shall not constitute an offer to sell or a solicitation of any offer to buy any of the Property. Offers submitted or solicitations made during any Event/Auction are void where prohibited by law. 8. DISCLAIMERS; PARTICIPANT REPRESENTATIONS; CANCELLATION; LIQUIDATED DAMAGES FANLLC makes no representations or warranties as to the accuracy or completeness of any information contained on the Website, written or verbal announcements, or as otherwise made available by FANLLC, Consignor/Seller, or Participants. NO WARRANTIES, EXPRESSED OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, THOSE OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, ARE MADE WITH RESPECT TO ANY INFORMATION, AND FANLLC EXPRESSLY DISCLAIMS ANY SUCH WARRANTIES. EACH PARTICIPANT AGREES TO PARTICIPATION AT EVENT/AUCTION AT PARTICIPANT'S OWN RISK. FANLLC makes no representation or warranty relating to management of the purchase and sale process. FANLLC MAKES NO REPRESENTATIONS OR WARRANTIES OF ANY KIND OR CHARACTER WHATSOVER, WHETHER EXPRESS OR IMPLIED, WITH RESPECT TO ANY PROPERTY, VEHICLE, ITEM, LOT, ETC. EACH PARTICIPANT HEREBY RELEASES FANLLC AND ITS EMPLOYEES, OFFICERS, DIRECTORS, REPRESENTATIVES, ATTORNEYS, BROKERS AND AGENTS (REPRESENTATIVES) FROM ANY AND ALL CLAIMS THAT ANY SUCH PARTICIPANT MAY NOW HAVE OR HEREAFTER ACQUIRE AGAINST FANLLC OR ANY OF ITS REPRESENTATIVES FOR ANY DAMAGE OR INJURY RESULTING FROM OR RELATING TO ANY ERRORS, OMISSIONS, OR OTHER CONDITIONS AFFECTING ANY PROPERTY, VEHICLE, ITEM, LOT, ETC. THIS RELEASE INCLUDES CLAIMS OF WHICH PARTICIPANT IS PRESENTLY UNAWARE OR DOES NOT PRESENTLY SUSPECT TO EXIST IN PARTICIPANT'S FAVOR WHICH, IF KNOWN BY PARTICIPANT, WOULD MATERIALLY AFFECT PARTICIPANT'S RELEASE OF FANLLC. NO REPRESENTATION OR WARRANTY IS MADE BY FANLLC RELATING TO THE LEGAL SUFFICIENCY OR TAX CONSEQUENCES OF ANY FORM, PURCHASE DOCUMENTS, OR WRITTEN AND VERBAL ANNOUNCEMENTS PROVIDED OR SUPPLIED BY FANLLC. EACH PARTICIPANT REPRESENTS AND WARRANTS THAT PARTICIPANT HAS CONSULTED WITH, HAD THE OPPORTUNITY TO CONSULT WITH, OR HEREBY WAIVES THE RIGHT TO CONSULT WITH COUNSEL RELATING TO THE LEGAL AND TAX CONSEQUENCES OF ANY SUCH FORMS OR INFORMATION. Each Participant represents and warrants that: (a) Participant is not located in a country embargoed by the United States of America; (b) neither Participant, its affiliates, members, directors, or other equity owners (excluding holders of publicly traded shares), and none of their principal officers and employees (i) is listed as a "specially designated national and blocked person" on the most current list published by the U.S. Treasury Department Office of Foreign Asset Control (OFAC), (ii) is a person or entity with whom U.S. persons or entities are restricted from doing business under OFAC regulations or any other statute or executive order (including the September 24, 2001 "Executive Order Blocking Property and Prohibiting Transactions with Persons Who Commit, Threaten to Commit, or Support Terrorism), or (iii) is engaged in prohibited dealings or transactions with any such persons or entities; and (c) Participant (i) is a sophisticated purchaser, (ii) understands and is able to bear the economic risks of purchasing a property, vehicle, item, lot, etc. at an Event/Auction, including, without limitation, a total loss of investment and/or the risk that Participant may be required to hold such property, vehicle, item, lot, etc. for an indefinite period of time. CANCELLATION: LIQUIDATED DAMAGES: IF WINNING BUYER BREACHES THESE TERMS, WINNING BUYER'S OFFER MAY BE REJECTED BY FANLLC AND/OR CONSIGNOR/SELLER AND WINNING BUYER IS RESPONSIBLE FOR LIQUIDATED DAMAGES ASSOCIATED WITH RESALE, RELISTING, ADVERTISING COSTS, AND NO SALES FEES. THE PROPERTY MAY BE IMMEDIATELY SOLD TO ANOTHER PARTICIPANT OR PLACED IN ANOTHER EVENT/AUCTION. PARTICIPANT HEREBY ACKNOWLOGES THAT THE ACTUAL DAMAGES RESULTING FROM A PARTICIPANT'S BREACH OF THESE TERMS IS DIFFICULT TO CALCULATE AND SUCH CALCULATION WILL BE AT THE SOLE DISCRETION OF FANLLC. 9. ARBITRATION OF DISPUTES Each Participant irrevocably agrees (a) to waive all rights to trial in a court before a judge or jury on all claims between FANLLC and Participant; and (b) that all disputes and claims between FANLLC and Participant will be determined exclusively by final and binding arbitration in Bay County, FL before one arbitrator. Such arbitrator will not have the authority to consolidate the claims of other Participants and will not have the authority to fashion a proceeding as a class or collective action or to award relief to a group or class of Participants in one arbitration proceeding. The arbitration will be administered pursuant to Comprehensive Arbitration Rules and Procedures and in accordance with the Expedited Procedures in those Rules. Participant and FANLLC shall maintain the confidential nature of the arbitration proceeding and the award, including the hearing, except as may be necessary to prepare for or conduct the arbitration hearing on the merits, or except as may be necessary in connection with a court application for a preliminary remedy, a judicial challenge to an award or its enforcement, or unless otherwise required by law or judicial decision. The arbitrator, and not any federal, state, or local court or agency, shall have exclusive authority to resolve any dispute between Participant and FANLLC relating to the interpretation, applicability, enforceability or formation of this agreement including, but not limited to any claim that all or any part of this agreement is void or voidable. Judgement on the award may be entered in any court having jurisdiction. In any lawsuit or arbitration arising out of or related to these Terms, the judge or arbitrator shall award to the prevailing party, if any, the costs and attorneys' fees reasonably incurred by the prevailing party in connection with the lawsuit or arbitration. If the judge or arbitrator determines a party to be a prevailing party under circumstances where the prevailing party won on some but not all of the claims and counterclaims, the judge or arbitrator may award the prevailing party an appropriate percentage of the costs and attorneys' fees reasonably incurred by the prevailing party in connection with the lawsuit or arbitration. THESE TERMS AND CONDITIONS WERE CREATED ON SEPTEMBER 1, 2015