555 Auctions Terms and Conditions for Bidding at a Real Estate Auction 1. By placing a bid you acknowledge that you have read and understand all of the written terms, conditions, and disclaimers set forth herein and that you agree to all such terms, conditions, and disclaimers 2. Neither 555 Auctions, nor the auctioneer is your employee, agent, representative, or contractor with respect to any auction in which you may participate. 555 Auctions is providing an internet based auction service that enables you to place a bid with an auctioneer at a live auction. 3. Any bid that you place is a legally binding offer to purchase the real or personal property being auctioned. Your bid (i.e., offer) may be accepted by the auctioneer, in which case a legally binding agreement will be in place between you and 555 Auctions. The terms, conditions, and disclaimers of that specific auction will be part of the foregoing agreement. 4. All bids shall be deemed pending unless and until duly accepted by the auctioneer. 5. The auctioneer has the sole and absolute discretion to advance the bidding, including the discretion to reject any bid which the auctioneer believes does not advance the auction and/or is injurious to the auction. Bids that may be rejected include without limitation bids that appear to the auctioneer to be nominal, suspicious and/or suspect. The auctioneer reserves the right to advance bidding that is below the seller’s written reserve. 5. All bids are accepted at the sole discretion of the auctioneer. For any given auction, the successful bidder is deemed the bidder that places the bid that is accepted by the auctioneer. 6. The auctioneer shall have sole discretion in deciding the successful bidder in the event of a bidding dispute. The auctioneer's determination of the successful bidder shall be the final determination of the successful bidder. 7. If you are the successful bidder, you agree to pay the amount of your bid, all applicable taxes set by law, and any commissions, premiums, and other expenses . You agree to indemnify and hold 555 Auctions, its owners, employees, vendors, contractors harmless from and against any and all costs, expenses, losses, and damages (collectively "damages"), including without limitation reasonable attorney's fees, 555 Auctions may incur with respect to your failure to pay all amounts that you are legally required to pay as the successful bidder. 8. All sales are final upon the determination of the successful bidder by the auctioneer, not withholding the seller’s right to establish a reserve price. For absolute auctions, the seller has been instructed they are not to bid either themselves or via a proxy. 9. Unless otherwise expressly provided by 555 Auctions, all property is auctioned and sold in its "as-is" condition on the day of the auction. It is the bidder's responsibility to determine the nature, condition, and state of title of the property to be purchased at the auction. 10. DISCLAIMER OF WARRANTIES. You may be entitled to warranties, conditions, and terms that may not be excluded or limited by 55 Auctions under applicable law. EXCEPT FOR WARRANTIES, CONDITIONS, AND TERMS THAT 555 Auctions MAY NOT EXCLUDE UNDER APPLICABLE LAW, 555 Auctions MAKES NO WARRANTIES, CONDITIONS, REPRESENTATIONS, GUARANTEES OR TERMS (EXPRESS OR IMPLIED, WHETHER BY STATUTE, COMMON LAW, CUSTOM, USAGE OR OTHERWISE) AS TO ANY MATTER INCLUDING PERFORMANCE, RESULTS, SECURITY, NONINFRINGEMENT, MERCHANTABILITY, INTEGRATION, QUIET ENJOYMENT, SATISFACTORY QUALITY, AND FITNESS FOR ANY PARTICULAR PURPOSE. THIS DISCLAIMER OF WARRANTY MAY NOT BE VALID IN SOME STATES. YOU MAY HAVE WARRANTY RIGHTS UNDER LAW WHICH MAY NOT BE WAIVED OR DISCLAIMED. 555 Auctions DOES NOT SEEK TO LIMIT YOUR WARRANTY RIGHTS TO ANY EXTENT NOT PERMITTED BY LAW. 11. LIMITATION OF LIABILITIES. You may be entitled to remedies that may not be excluded or limited by 555 Auctions under applicable law. EXCEPT FOR ANY REMEDIES THAT CANNOT BE EXCLUDED OR LIMITED UNDER APPLICABLE LAW, 555 Auctions WILL NOT BE LIABLE TO YOU FOR ANY LOSS, DAMAGES, CLAIMS OR COSTS INCLUDING ANY INDIRECT, CONSEQUENTIAL, OR INCIDENTAL DAMAGES, ANY LOST PROFITS OR LOST SAVINGS, ANY DAMAGES RESULTING FROM BUSINESS INTERRUPTION, OR FAILURE TO MEET ANY DUTY OF CARE, OR CLAIMS BY A THIRD PARTY, EVEN IF A REPRESENTATIVE OF "Auction Company" HAS BEEN ADVISED BY YOU OF THE POSSIBILITY OF SUCH LOSS, DAMAGES, CLAIMS OR COSTS. IN ANY EVENT, THE LIABILITY OF 555 Auctions IN CONNECTION WITH PARTICIPATION IN THIS AUCTION IS LIMITED TO THE GREATER AMOUNT OF (I) THE AMOUNT, IF ANY, PAID BY YOU TO 555 Auctions OR (II) TEN DOLLARS ($10.00). 12. Neither 55 Auctions nor the provided support services such as the bidding platform for the auction shall be held responsible for a missed bid or the failure of the "App" to function properly for any reason. You acknowledge that the "App" may not be operational at any given time for various reasons, including repairs, maintenance, upgrades to the "App", and many causes that are not within the control of the "Auction Company", the "Auction Company's" Licensor, or the auctioneer, including without limitation power failures, defects in third-party equipment, and acts of God. In the event that the "App" fails to properly operate for any reason during any auction, thus preventing you from placing a bid, you acknowledge and agree that you are subject to the limitation of liabilities set forth above. 13. The disclaimer of warranties and limitations of warranties set forth above, including all exclusions and limitations set forth therein, will apply to the maximum extent permitted by applicable law, even if any remedy fails its essential purpose. 14. The terms, conditions, and disclaimers set forth herein shall be governed by the laws of Illinois. All legal matters shall be settled in the Monroe County Courthouse in Waterloo, Illinois. With respect to any proceedings that are appropriately brought in one of the foregoing courts, you agree that the court shall have exclusive jurisdiction and venue to adjudicate the dispute. You consent to venue and jurisdiction and waive all questions and defenses of personal jurisdiction, improper venue, or forum non conveniens for the purpose of any proceedings brought to resolve a dispute described in this section.