Cabot 900 Series Carrier Mounted Drilling Rig

ONLINE AUCTION

OILFIELD EQUIPMENT & VEHICLES OF

EVERGREEN DRILLING

205 INDUSTRIAL AVENUE * CARMI, IL 62821

BIDDING ENDS TUES, DEC 12^TH, 2017 AT 10 AM (CDT)

INSPECTION BY APPOINTMENT ONLY

FOR THE BENEFIT OF SECURED CREDITOR

LICENSED AUCTIONEER: DAVID A. LEWIS III #441-000692

TERMS & CONDITIONS OF SALE

THIS IS AN ONLINE AUCTION OF ASSETS BELONGING TO EVERGREEN DRILLING. BIDDING CLOSES DECEMBER 12^TH, 2017 BEGINNING AT 10:00 AM (CDT).  ALL ITEMS ARE BEING PRESENTED FOR SALE AS IS/WHERE IS, WITHOUT WARRANTY OF ANY KIND EXPRESSED OR IMPLIED.  A 10% BUYERS PREMIUM WILL BE APPLIED TO ALL PURCHASES. 8% SALES TAX WILL BE ADDED TO APPLICABLE SALES.  ALL MAJOR CREDIT CARDS ARE ACCEPTED FOR PAYMENT OF PURCHASES LESS THAN $10,000.

1. REGISTRATION – All bidders must register for the sale providing name (& business if applicable), address, reliable contact phone number, email address, valid credit card number and bank information. Credit Card information is utilized to validate the registrant and will not be used as payment without express authorization from the buyer after the sale.  Complete registration information is vital to being quickly approved for the sale. Incomplete registrations may not be approved at the discretion of ATEC.  By registering, the bidder acknowledges that they have read, accept, and agree to abide by the terms set forth in this document.  It is the registrant’s responsibility to seek clarification of any terms and conditions not clearly understood or left undefined within this document. 

2. DEPOSIT –International bidders (outside of the US) must submit a credit card deposit in the amount of $5,000 before being approved to bid. In the event that no bids are placed, ATEC will refund the entire deposit to the bidder’s credit card. If the bidder is successful in placing bids, the deposit will be applied to the account balance before a final invoice is issued. The deposit will not be refunded if the invoice is not paid before 4:00 PM on December 22^nd, 2017.

3. INSPECTION – Items can be inspected BY APPOINTMENT ONLY. Contact ATEC at 314-447-3200 to schedule an appointment. Inspection will take place at 205 Industrial Avenue in Carmi, Illinois 62821.

4. BIDDING – All bidders must be registered to participate in this sale.  A 10% Buyer’s Premium will be added to the sale price of all purchases. An 8% sales tax will be added to all applicable sales.  Placing a bid acknowledges that the bidder has read, accepted, and agrees to abide by the terms set forth in this document.  Placing a bid also signifies a contractual intent to purchase at the specified bid amount and cannot be rescinded.

5. PAYMENT – Invoices for online bidders must be paid before Friday, December 15^th, 2017 at 4:00 pm (CDT), or the item WILL BE RESOLD.  All successful online bidders will be notified by email immediately following the sale with an invoice to follow.  If you receive notification that you are the successful bidder, but do not receive an invoice by 2:00 P.M. Wednesday, December 13^th, it is YOUR RESPONSIBILITY to notify ATEC at 314-447-3200 so that we may re-issue your invoice.  Bank wire transfer or cash payment are the only acceptible methods of payment for the drilling rigs.  For all other purchases, ATEC accepts Cash, Cashier’s Check, Credit Cards, and Wire Transfer as payment. Bank wires will be accepted provided they are accompanied by a “BANK LETTER OF GUARANTEE” guaranteeing payment. The buyer waives the right to stop payment on any check or monies given as payment.

All major credit cards are accepted for purchases totaling less than $10,000. If the purchase is greater than $10,000, ATEC will allow the buyer to place a 10% non-refundable deposit (up to a maximum of $10,000) on the credit card, with the remainder payable within 48 hours. If paying with a credit card, the buyer waives their rights to file a credit card dispute, as all items are released to the buyer immediately following payment, and all items are sold “As Is/Where Is”. A 10% Buyers Premium will be added to the sale price of all purchases. An 8% Sales Tax will be added to the sale price of all applicable purchases.  Any unpaid purchases will be re-sold at the auctioneer’s discretion.

6. REMOVAL – Removal is the sole responsibility of the buyer.  The auctioneer is not responsible for preparing items for shipping or removal.  The Service King and Taylor Rigs are scoped up and will need to be broken down for removal at the buyers expense.  The Cabot Rig is stacked, located outside of Canadian, Texas.  No Items will be released until that item has been paid for in full and a copy of the paid invoice is presented to an ATEC representative.  If you employ someone to remove your purchases they must provide a copy of the paid invoice to our representatives on site.  All professional movers MUST provide proof of insurance to ATEC prior to moving any items.  NO ITEM WILL BE REMOVED WITHOUT PROOF OF PURCHASE AND PAYMENT – NO EXCEPTIONS! 

Removal of all items will take place BY APPOINTMENT ONLY from Wednesday, December 13^th through Friday, December 29^th, 2017. No weekend removal will be permitted. If you are unable to remove your items by December 29^th, 2017 at 4:00 P.M., it is your responsibility to contact ATEC at (314) 447-3200.

Any items not removed, or scheduled for removal by December 29^th, 2017 at 4:00 P.M. will be considered abandoned and resold. NO EXCEPTIONS!

Titles will be handled by the lender, People’s National Bank. Please allow 15 business days for completion of all title work.

7.  MERCHANDISE – All items are being sold AS IS/WHERE IS without warranty or guarantee of any kind expressed or implied.  Neither the auctioneer nor the seller shall be responsible for discrepancy in description or nomenclature.  The auctioneer does not own any of the items in the sale and is working on behalf of the seller.  The auctioneer reserves the right to remove, on behalf of the seller, any items identified by the seller to have a clear defect or legal encumbrance not initially known and identified at the time of posting.  Neither the auctioneer nor the seller shall be held responsible for any issues related to the safe handling and transport of item(s) purchased, as removal is the responsibility of the buyer.