FEDERAL KVA TRANSFORMER

A.R. Pagan Enterprises

Auctioneers Terms and Conditions

1. Payment: On-line bidders  pay $500 refundable deposits using credit cards.

2. Final payment must be made by using wire transfer. Wire transfer instructions will

be provided upon award of bids.

3. Full settlement must be made within 24 hours after auction end.

4. All sales are final and are payable at the conclusion of the sale.

5. An 18% Buyer’s Premium will apply to all on-line purchases.

6. Sales tax will be charged to PR buyers on all purchases, except where a valid

re-sellers permit or is provided prior to the auction day.

7. Removal of purchases: Cost, responsibility, and risk of removal of purchases

remain with the purchaser.

8. Riggers: Qualified riggers will be available upon request.

9. Purchases must be removed from the premises by date/time stipulated at auction announcement and/or final invoice . A.R.Pagan Enterprises reserves the right to charge the purchaser for the costs

of storage and/or disposal beyond the removal period.

10.Items not picked up in the time allocated or otherwise arranged with the

Auctioneers will be considered abandoned.

11.No purchases may be removed until after the conclusion of the sale.

12.No claims of any kind shall be allowed once an item has been removed from the

premises by the purchaser.

13.Disclaimer of Warranties: Everything will be sold "AS IS", "WHERE IS", "AS

AVAILABLE", "WITH ALL FAULTS", with no implied warranties. Prospective

buyers are urged to inspect all items.

14.No credit or deductions will be allowed on any claims for damage as everything is

sold "as is, where is" and without recourse.

15.A.R. Pagan Auction Group, as agent and seller, expressly disclaims any warranty

as to fitness or usability of any assets offered for any purpose.     

 16.A.R. Pagan Auction Group, its agents, advertising agencies, its media providers and the sellers, will not be held responsible for advertising inaccuracies or discrepancies. Prospective buyers are advised that the Auctioneers do not guarantee the accuracy of description or condition of any of the offered properties.

17.Limitations of Liability: For any reason whatsoever, if an item purchased cannot be delivered, the buyer waives liability on the part of A.R. Pagan Auction Group and further agrees that any obligation for said item is limited to the full refund of the purchase price and applicable buyer’s premium and sales tax collected.

19.Persons attending the auction preview, sale, or removal assume all risks of damage or loss to person and property and specifically release and indemnify Auctioneers and sellers from liability. A.R. Pagan Auction Group and/or seller shall not be liable by reason of any defect in or condition of the premises in which the sale is held.

20.The auctioneers reserve the right to withdraw any items, to add items not previously listed, to group or subdivide one or more lots, or to sell all of the items listed in bulk.

21.The Auctioneer has the right to reject any nominal or fractional bid which he believes may negatively affect the sale.

22.A.R. Pagan Enterprises may amend, change, modify, discontinue or suspend any aspect of the auction sale without notice and without liability to prospective bidders.

23.Additional terms and conditions of sale may be added and will be announced and/or posted on the premises prior to the auction.

24.Third Party Service Providers: As a courtesy only, A.R. Pagan Enterprises may provide contact information for riggers, movers, crane or other service providers. A.R. Pagan Auction Group is not affiliated with, nor shall A.R. Pagan Enterprises be responsible or liable for the action of, any rigger, mover or other service provider utilized by a Purchaser or Purchaser Representatives. Seller or A.R. Pagan Enterprises may require the use of one or more specific riggers, movers or other service providers at the premises at which the Purchased Assets are located. Such a requirement does not constitute a guarantee or endorsement by Seller or A.R. Pagan Enterprises.

25.GOVERNING LAW: THESE TERMS AND CONDITIONS, THE SALE SPECIFIC TERMS, AND THE PURCHASE AND SALE OF THE PURCHASED ASSETS SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW INTERNAL LAWS OF THE COMMONWEALTH OF PUERTO RICO, WITHOUT REGARD TO CHOICE OF LAW RULES OR PRINCIPLES.

  The purchaser hereby assumes and does agree to indemnify and hold A.R. Pagan

 and seller harmless from any future claim which may arise as to the fitness or usefulness of any item purchased.