All persons participating in a HODAK AERO LLC auction agree to be bound by the following terms and conditions, which shall form a binding contract between the participants and HODAK AERO LLC: FEES: 13% Buyers Fee, 3% discount on cash transactions. $200 non-negotiable Documentation Service Fee and FAA Registration/Bill of Sale fees for all purchasers. PAYMENT AND PICKING UP AIRCRAFT: HODAK AERO LLC accepts the following forms of payment: Cash, Cashier's Check, Wire Transfer, Personal or Company Checks. Credit/debit cards are subject to the 13% buyer's premium. Any AIRCRAFT paid with personal or company checks will be held until the check clears. All out-of-state checks must be accompanied by an irrevocable Bank Letter of Guarantee, unless known by the auctioneers. Merchandise becomes the full responsibility of the buyer at the time of payment and the buyer assumes all risk of loss and damage to property at that time. All purchases must be paid for in full by 4pm three days after the auction. All items must be removed three days following the auction unless prior arrangements are made. If you are an out-of-town buyer please contact our office to make arrangements at 208-599-2707. Aircraft left beyond this date will incur a $20 per day storage fee. A 25% deposit will be charged to the customer's credit card if no payment or contact is made regarding payment at the conclusion of the 3rd business day following the auction. HODAK AERO LLC reserves the right to resell any property not paid for in full by the conclusion of the stated pickup period. In any such event, the Buyer will still be responsible for payment for the original purchase and the costs of collection of this payment and/or damages resulting from the resale of the property. SALES TAX: ALL APPROPRIATE STATE SALES TAX LAWS WILL APPLY PER THE LOCATION AND SELLER OF THE ITEM. GENERAL TERMS AND CONDITIONS: All Bidders agree to the following: 1. Every aircraft is being sold "as is," including any and all defects, and without any warranties, express or implied. 2. ALL IMPLIED WARRANTIES, INCLUDING THOSE OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE, ARE EXPRESSLY DISCLAIMED BY HODAK AERO LLC AND WAIVED BY ME. THIS WAIVER OF IMPLIED WARRANTIES WAS SPECIFICALLY BARGAINED FOR, AND THAT ABSENT MY AGREEMENT TO IT, I WOULD NOT BE ALLOWED TO PARTICIPATE IN THIS AUCTION. 3. I am assuming the entire risk that an aircraft I purchase will have defects, whether present now or arising in the future, whether visible or hidden, including, but not limited to, defects in the paint, windows, tires, airframe, doors, brakes, steering, engine, propeller, avionics, display, interior, fuel systems, suspension, landing gear, electronic components, and each and every other part. I understand that defects in an aircraft I purchase may render it inoperable or unairworthy to fly. Despite knowing these risks, I agree that TODD HOUDEK DBA HODAK AERO, its owners, employees and agents shall not be liable for any defects in any aircraft I purchase, for any reason, whatsoever. I agree to hold HODAK AERO LLC harmless from and against any and all claims, liability and damages with respect to any defect in any aircraft I purchase. 4. HODAK AERO LLC and its owners, employees and agents act merely as agents for Sellers. Statements regarding the description and condition of aircraft made by the owners, employees, and agents of HODAK AERO, including those made on its website, advertising, auction materials, and at the auction itself, are based on a rudimentary aircraft inspection. I understand that statements by HODAK AERO LLC are not intended to be relied upon by me, may contain errors, and I agree that I am not purchasing in reliance on those statements. I understand that all statements by HODAK AERO LLC regarding the description and condition of any aircraft are expressly disclaimed and do not constitute any promise, covenant, agreement, or warranty. 5. Every aircraft is available for inspection prior to the auction, and it is my sole responsibility to determine the condition of an aircraft prior to purchase. 6. By making a bid, I am making an offer to purchase the aircraft at the bid price, which if accepted, forms a binding contract to purchase the aircraft between HODAK AERO LLC and myself. I understand that any such contract includes the terms in this Acknowledgement. 7. Purchases may not be removed from the premises until payment in full is received. I understand that if payment is made by means other than cash or certified funds, the purchased property will not be released from the premises until the funds are clear and received. 8. I may not rescind or challenge a purchase for any reason, including later dissatisfaction or discovery of defects. 9. All bidders must be 18 years of age or older and must possess a valid driver's license. RESERVES: All auctions are with reserve unless specifically stated otherwise. Reserves, if any, are not disclosed unless advertised as "ABSOLUTE." Auctioneers at their discretion may place a reserve bid on behalf of the seller, lienholder, or pre-approved absentee bidder. DEBT COLLECTION AND INTEREST CHARGES: The buyer agrees to pay all reasonable attorney fees and other costs incurred by HODAK AERO LLC in its efforts to collect unpaid funds from the buyer. The buyer agrees that a fee of 2% of the outstanding balance per month be added to any unpaid balance due HODAK AERO. LAWSUITS: Any litigation with arising out of an auction shall occur in the State and County in which the aircraft was located at the time the auction took place. LIMITATION OF LIABILITY: If, for any reason, after a reasonable time has passed HODAK AERO LLC is unable to make available or deliver any purchased aircraft, or portion thereof, or any documentation required to transfer a purchased aircraft to a successful bidder, then the sole liability of HODAK AERO, if any, shall be limited to returning to the successful bidder the moneys the successful bidder paid HODAK AERO, if any, for said purchase. In the event of such refund then the successful bidder shall return and surrender the aircraft to HODAK AERO, and sign any and all documentation necessary to transfer FAA registration to HODAK AERO LLC or a different person/entity in HODAK AERO's discretion. REGISTRATION: All registration information the bidder provides to HODAK AERO LLC shall be current, complete, and accurate. All bidders are responsible for any bids placed under their bidding numbers and passwords. The security of bidder information is the responsibility of the bidder. Bidders must notify HODAK AERO LLC if they believe that their bidder number and password have been compromised. INTERRUPTION OF SERVICE: HODAK AERO LLC shall not be held responsible for any interruption in service, errors, and/or omissions, caused by any means and does not guarantee continual, uninterrupted, or error-free service or use of its website. Technology can and does fail. Bidder acknowledges that this auction is conducted both in person and electronically and relies on hardware and software that may malfunction without warning. HODAK AERO, in its sole discretion, may void any sale, temporarily suspend bidding and re-sell any items or lots that were, in HODAK AERO LLC sole discretion, affected by any malfunction. The decision of HODAK AERO LLC on malfunctions shall be final.