LOT - DRILLS

UNITED ASSET SALES

TERMS & CONDITIONS OF SALE

THIS AUCTION WILL BE CONDUCTED PER THE TERMS AND CONDITIONS LISTED BELOW PLUS ANY OTHER  PROVISIONS ADDED BY UNITED ASSET SALES (AUCTIONEER) AT ANYTIME OR AS POSTED ON WWW.UNITEDASSETSALES.COM

1. Registration: United Asset Sales, at its sole discretion, may deny registration to any person or entity.

2. Any and all announcements made by the Auctioneer on the day of the auction sale shall supersede any other written or oral information previously distributed.

3. Auctioneer and seller make no representations, warranties, promises, covenants or guarantees, expressed or implied, as to defects in or the completeness or accuracy of the description in any advertising of any item(s) being auctioned and is not responsible for any advertising discrepancies or inaccuracies of any kind. All items are sold on an AS IS, WHERE IS AND WITH ALL FAULTS BASIS WITHOUT EXCEPTION and WITH REMOVAL AT BUYERS SOLE RISK AND EXPENSE. THE AUCTIONEER AND SELLER MAKE NO REPRESENTATIONS, WARRANTIES, PROMISES, COVENANTS OR GUARANTEES OF ANY KIND, EXPRESSED OR IMPLIED, AS TO THE NATURE, QUALITY, DURABILITY, CAPABILITY, FUNCTION, PERFORMANCE, VALUE OR CONDITION OF THE ITEM(S) BEING AUCTIONED OR ITS (THEIR) SUITABILITY FOR ANY USE. THE AUCTIONEER AND SELLER EXPRESSLY AND SPECIFICALLY DISCLAIM, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. The undersigned hereby waives, releases, remises, acquits and forever discharges the Auctioneer and seller, and their respective employees, agents, or any other person acting on behalf of the Auctioneer and seller, of

and from, and shall indemnify and hold the auctioneer and seller, and their respective employees, agents, or other persons acting on behalf of the Auctioneer and seller from and against any claims, actions, causes of action, demands, rights, damages, costs, expenses or compensation whatsoever, direct or indirect, known or unknown, foreseen or unforeseen, which the undersigned now has or which may arise in the future on the account of or in any way growing out of or connected with any defects, latent or otherwise, or the physical condition of any item(s) purchased or any law or regulation applicable thereto. The undersigned pecifically waives the provisions of California Civil Code section 1542, which provides: "A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor."

4. The Auctioneer and seller encourage the undersigned to avail themselves of the opportunity to make inspections prior to bidding and/or purchasing. The undersigned hereby acknowledges that he/she/they has/have inspected or voluntarily waived said inspection of all of the items upon which he/she/they will be bidding and/or does purchase. Auction sales are subject to cancellation and items are subject to prior sale. The seller’s secured creditors must confirm all sales. The Auctioneer and seller reserve the right to augment this auction with items from additional sellers. These items may be interspersed and not specially identified throughout the auction sale.

5. The Auctioneer shall regulate all matters relating to the conduct of the auction and the Auctioneer’s decisions shall be final and binding on all bidders. The Auctioneer reserves the right to group, regroup, reduce, add to or delete lots as well as accept or reject any or all bids at the Auctioneer's sole discretion. The Auctioneer also reserves the right to offer any or all of the items in bulk at any time during the auction at the Auctioneer’s sole discretion. The Auctioneer shall determine the bidding increments and the Auctioneer and/or seller may bid on any item(s) to protect its financial interest or indebtedness at its sole discretion. Some items may be auctioned with reserve, subject to the seller’s right of confirmation. Immediately upon the fall of the hammer and after the Auctioneer has declared the undersigned to be the purchaser, all items comprising of the lot become the sole and absolute responsibility of the undersigned and the undersigned shall thereupon and thereafter assume all risk of loss (including, but not restricted to loss by way of theft or damage) and liability relating to such items. The undersigned is advised to pre-arrange insurance coverage for its purchases. Title to and possession of the lot shall not pass to the undersigned until the Auctioneer has received payment for all lots duly purchased in full. PLEASE NOTE: ON-SITE BIDDERS and INTERNET BIDDERS will be charged a Buyer's Premium. Please check each sale for the Premium to be charged.

6. On the day of the auction (unless otherwise announced) all purchases must be paid in full (No exceptions) by cash, cashier’s check, check with a bank letter of guarantee or bank wire made payable to the Auctioneer. Credit cards are not accepted. A fee will be charged by the auctioneer for wire transfers. Personal and company checks will be accepted at the Auctioneer’s sole discretion, only if accompanied by a letter of guarantee by payer’s bank guaranteeing unqualified payment to Auctioneer for the total amount of purchase. Auctioneer must approve all payment methods in its sole and absolute discretion prior to bidding. The Auctioneer reserves the right to determine, in the sole judgment of the Auctioneer, the validity of all cashier checks and letters of guaranty. Wire transfer information, for payments to the Auctioneer, will be provided, upon request. If for any reason the undersigned fails to pay the purchase price within the time limit set forth in the catalog or announced by the Auctioneer at the sale and/or fails to remove 100% of its purchases on or before the date and time announced by the Auctioneer prior to bidding during the opening announcements, and/or fails to comply with any other conditions or term of sale, such item(s) will be considered abandoned and the Auctioneer may resell at public or private sale without further notice, or otherwise dispose of any and all of such items and the undersigned hereby agrees to pay any deficiency and all removal and other costs relating to such resale together with all charges, legal fees, interest and expenses in connection with such sale or disposition, plus a $500.00 per diem fee per item until such item(s) is (are) removed. The undersigned further agrees that the Auctioneer and/or seller may retain all monies received pursuant to any such resale and apply such monies to any such deficiency without further notice. No claim will be considered for allowance or rescission of any sales based upon failure of the property to correspond with any standard expected. Note to Internet Bidders: Final payment information will be provided in a separate invoice within 48 hours following the auction. Payment must be received in full within 24 hours of receipt of invoice. No Credit or Debit Cards!  Full payment must be made prior to 12pm (noon) the following day after the close of the auction.  Acceptable payment methods are: Cashier's Check, Business Check with Bank Letter of Guarantee or Bank Wire Transfer.

7. The buyer's premium will be added to the purchase price and all taxable auction items will be taxed inclusive of this amount. The undersigned shall provide proof, satisfactory to the Auctioneer, of their entitlement to claim exemption from sales tax. In the absence of proof satisfactory to the Auctioneer, the buyer shall pay all taxes. The Auctioneer or seller will not be responsible for any penalties regarding registration fees or smog certificates related to motor vehicles. Certain vehicles as announced and/or noted on buyers invoice will be sold “AS IS” with a Bill of Sale only, excluding a Department of Motor Vehicles Title or Pink Slip.

8. The Auctioneer or seller shall in no event be liable to the purchaser for non-delivery of any item(s) for any reason except for the return to the buyer of the deposit or other sums paid for such non delivered items. This non-delivery period extends from the fall of the hammer until the time allotted for the removal process to be concluded. In no event will the Auctioneer's or seller's liability to the undersigned exceed the amount actually paid by the undersigned. THE UNDERSIGNED HEREBY ACKNOWLEDGES AND AGREES THAT THE AUCTIONEER AND SELLER SHALL NOT BE LIABLE FOR SPECIAL, CONSEQUENTIAL OR INCIDENTAL DAMAGES.

9. Bidder’s paddles are nontransferable. All bids made by the holder of the paddle will be the responsibility of the registered bidder. A successful bid at auction constitutes a legally binding contract of sale. All sales are final! No refunds, returns, credits or exchanges! NO EXCEPTIONS!

10. The Auctioneer reserves the right to remove any person from the auction site and refuse that individual's bid or proxy bid. In the event of such removal, any outstanding deposit will be immediately returned. All Buyers Acknowledge and Accept the Terms and Conditions of the Auction Sale printed in this Catalog and Listed on WWW.UNITEDASSETSALES.COM

ALL SALES ARE FINAL! NO REFUNDS, RETURNS OR EXCHANGES!