American Flyer Postwar, Prewar, LTI Trains

General Conditions of Sale The property in the online auction sale will be offered for sale by Gregory Hake Auctions, L.L.C. (“Auctioneer”) on behalf of the owners of the property (“Seller”), and will be governed by the terms and conditions set forth herein (the “Agreement”). Auctioneer is the agent of the Seller. Bidder’s Registration. All persons who wish to bid in the online auction must register and obtain a unique bidder number. To register, you must provide all of the registration information requested, sign the Agreement, and submit the form to the Auctioneer. All bidders must be 18 years of age or older and provide the complete information requested. Auctioneer reserves the right to refuse to register or permit any person to bid at its sole discretion. Bidder may register for the auction by phone, email, or internet. Invoices and correspondence relating to purchases will be sent according to the information on the bidder’s registration. Registration Confirmation. Bidder will be e-mailed registration confirmation upon successful completion of the registration process. Bidder should register as early as possible to obtain information about the property being auctioned and increase the likelihood of being notified of any pertinent changes that take place prior to the auction. The bid number, authorization, and login information given to Bidder upon successfully registering to bid shall only be used by Bidder during the auction to bid on the property. The registration is not transferable or assignable. No one else may register for Bidder or participate on Bidder’s behalf. Payment. Payment in full (including the buyer’s premium when applicable) must be paid in the form of cash, wire transfer, checks, money order, all major credit cards (if you have a question about whether a credit card is accepted please call Auctioneer before bidding), prior to the removal/delivery of any property purchased. Auctioneer reserves the rights to refuse credit card payments on any lot. Bidder shall pay the purchase price, the buyer’s premium, shipping, insurance and handling charges (if any), plus any and all applicable sales taxes, unless such sales taxes are exempted by law (proof of exemption must be provided). Bidder must make payment within seven (7) business days after notification of the sale. Auctioneer reserves the right to offer unpaid items to next highest bidder at his discretion should the invoice go unpaid for longer than a month. Auctioneer also reserves the right to open an active dispute against any LiveAuctioneer Bidder that does not pay or refuses to fully complete the transaction, including paying the associated buyer’s premium and shipping/insurance cost. Buyer’s Premium. A 15% Buyer’s premium will be charged in this sale. The buyer’s premium is an advertised percentage of the high bid or flat fee added to the high bid to determine the total contract price to be paid by Bidder. The buyer’s premium will be paid by all bidders participating in the auction, no exceptions. The buyer’s premium does not create any agency relationship between Bidder and Auctioneer. Auctioneer is the agent of the Seller only. A 3% convenience fee will be added to all invoices payed by credit card. Stop Payment/Insufficient Funds. Upon making payment for a lot(s), no stop payment of funds will be honored. Any stop payment order of a check, or giving a check which is returned marked “insufficient funds,” shall be deemed by the parties to be prima facie evidence of fraud existing at the time the transaction was consummated and shall be construed by the parties as intent to defraud. Acceptance of Terms. A bid placed by any person shall be conclusive proof that he or she acquainted himself or herself with the terms and conditions of sale and agreed to be bound by such terms and conditions prior to placing any bid. Representations and Warranties. All representations and/or warranties made, if any, are between Bidder and Seller. Auctioneer shall not be held responsible for the correctness of any representations and/or warranties of any kind with respect to the property. Auctioneer shall not be held responsible for any representations and/or genuineness of description of any property. Further, Auctioneer does not represent or warrant that ANY of the items and Lots purchased run or operate. UNLESS OTHERWISE EXPRESSLY NOTED BY AUCTIONEER, ALL SALES ARE FINAL AND ALL PROPERTY IS SOLD “AS IS,” “WHERE IS,” AND “WITH ALL FAULTS” – THERE ARE NO EXPRESS OF IMPLIED WARRANTIES (INCLUDING THE WARRANTY OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE) ON THE LOT OR LOTS. ANY AND ALL WARRANTIES (UNLESS EXPRESSLY NOTED OTHERWISE) ARE DISCLAIMED AND WAIVED BY BIDDER. Sales Final and Inspection of Lots. Bidder acknowledges that Bidder has been provided the opportunity to inspect (by reviewing pictures and asking questions of Auctioneer about the property before purchasing same). Bidder has not physically inspected the property. Bidder is solely responsible for determining the condition of any property that Bidder bids on. Disputes between Bidders. In case of any dispute between bidders, then Auctioneer, at his sole and complete discretion, may reopen the bidding pursuant to specific terms determined by Auctioneer between the two highest bidders only, until the property is sold. If a dispute arises after the sale of any lot, the Auctioneer’s records shall be deemed conclusive in all respects. Bidding. It is the responsibility of the bidder to make sure that Auctioneer is aware of his or her intent to place a bid. AUCTIONEER DISCLAIMS ANY LIABILITY FOR DAMAGES, WHETHER DIRECT, INDIRECT, CONSEQUENTIAL, OR INCIDENTAL, RESULTING FROM BIDS NOT SPOTTED, RECEIVED, EXECUTED, OR ACCEPTED. BIDDER ACKNOWLEDGES THAT AUCTIONEER DOES NOT HAVE ANY RESPONSIBILITY OR LIABILITY FOR THE WEBSITE(S) USED FOR INTERNET BIDDING. BIDDER ACKNOWLEDGES THAT THE AUCTIONEER MAY NOT HAVE ANY CONTROL OVER THE WEBSITE(S) AND CANNOT GUARANTEE ITS OPERATION OR PERFORMANCE. THERE ARE OCCASIONAL INTERRUPTIONS AND DELAYS RELATING TO THE USE OF THE INTERNET AND THE WEBSITE. FURTHERMORE, AUCTIONEER SHALL NOT BE HELD LIABLE (FOR LOST PROFITS OR SPECIAL DAMAGES) OR RESPONSIBLE FOR THE FUNCTION OF THE WEBSITE OR ITS INABILITY TO FUNCTION. BIDDER ACKNOWLEDGES THAT HARDWARE MALFUNCTIONS, SOFTWARE MALFUNCTIONS, VIRUSES, AND SIMILAR ISSUES DO OCCUR AND ARE BEYOND THE KNOWLEDGE, SCOPE, AND CONTROL OF AUCTIONEER. USE OF THE INTERNET BIDDING OPTION THROUGH ANY WEBSITE IS AT BIDDER’S OWN RISK. TO ENSURE PROPER BIDDING, BIDDER SHOULD BE CAREFUL AND EXAMINE ALL PICTURES POSTED ON THE WEBSITE FOR THAT PARTICULAR LOT BEING AUCTIONED AND TO ASK QUESTIONS OF AUCTIONEER PRIOR TO BIDDING. AUCTIONEER DOES NOT GUARANTEE ITS WEBSITE’S USE OR FUNCTION. Bidders should also be careful to bid on the correct lot and ensure that Bidder’s bid is for the amount intended. Auctioneer is not responsible for errors in bidding by Bidder. Acceptance of Bids. The Auctioneer may disqualify or refuse any bid believed to be fraudulent, illegitimate, not in good faith, made by someone who is not competent, or made in violation of this Agreement or any applicable law. Notification. The successful Bidder will be notified by email within three (3) business days after the auction closes. Breach of Contract. If this Agreement, or any terms and conditions announced by Auctioneer, are not complied with, in addition to other remedies available to the seller by law, including without limitation, the right to hold the Bidder liable for the bid price, Auctioneer and Seller may: (1) publicly or privately resell the property, with the non-complying Bidder being held liable for the payment of any deficiency purchase price, plus all costs incurred; and/or (2) cancel the sale and retain as liquidated damages all payments made by the non-complying Bidder. Auctioneer’s commissions, all incidental damages, expenses, court costs, costs of collection, including attorneys’ fees, will be charged to and be the responsibility of the non-complying Bidder. Memorandum of Sale. Bidder authorizes Auctioneer to execute any memorandum of sale on behalf of and in the name of Bidder, or in Auctioneer’s own name, in connection with the purchase of any lot, in accordance with Bidder’s bid. Auctioneer Liability. Auctioneer acts solely as an agent for Seller and is a party to a contract for the sale of any property offered by the Seller for sale and/or sold at this auction. IN NO EVENT SHALL AUCTIONEER BE LIABLE TO BIDDER FOR ANY INDIRECT, SPECIAL, OR CONSEQUENTIAL DAMAGES OR LOST PROFITS ARISING OUT OF OR RELATED TO THIS AUCTION OR THE PERFORMANCE OR BREACH THEREOF. AUCTIONEER’S LIABILITY TO A BIDDER SHALL IN NO EVENT EXCEED THE TOTAL OF THE PURCHASE PRICE, BUYER’S PREMIUM, AND TAXES PAID BY BIDDER TO AUCTIONEER, REGARDLESS OF WHETHER BIDDER’S CLAIM IS BASED ON CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. Sale of Lots. All sales are to be per lot, unless otherwise mentioned by the Auctioneer. Auctioneer reserves the right to include in the auction any lot and the right to withdraw any lot prior to calling for bids at the beginning of the live online auction. Auctioneer may combine, subdivide, regroup or reorganize any lots. Severability. If any provision of this Agreement is declared or determined to be null, void, inoperative, illegal or invalid for any reason, the validity of the remaining parts, terms or provisions will not be affected thereby and they will retain their full force and affect, and any null, void, inoperative, illegal or invalid part, term or provision will not be deemed to be part of this Agreement. Interpretation. Each party to this Agreement acknowledges that it has read, or has had the opportunity to read, the terms provided herein. The parties agree that this Agreement reflects the terms as agreed to by the parties hereto. In the event a term or terms is considered ambiguous, neither party hereto, nor their respective counsel, will be considered the draftsperson of this Agreement for the purpose of causing the terms of this Agreement to be construed against a party hereto. Applicable Law. The parties hereto acknowledge and agree that this Agreement is made and entered into in the State of Missouri, and will in all respects be interpreted, enforced and governed under the internal laws (and not the conflicts of laws) of the State of Missouri. In the event that the parties hereto, or any one of them, litigate any actual or potential breach of this Agreement, the parties hereto stipulate and agree that the exclusive and continuing venue for any such action will be in St. Charles County, Missouri, or the United States District Court, District of Missouri. Rights not Transferable. All rights granted herein are personal and exclusive to the registered bidder, and may not be assigned or transferred to another person or entity, by operation of law or otherwise. Any attempt to assign or transfer any such rights shall be void and unenforceable. No third party may rely on any benefit or right conferred herein or granted to any bidder. Partial Payment. In the event that the Bidder pays only a portion of the purchase price for any or all lots purchased, Auctioneer shall apply the payment received to such lot or lots as Auctioneer, in its sole discretion, deems appropriate. PICK UP and SHIPPING: Pick up is available to auction winners at no charge. Please make arrangements before showing up at the warehouse. Shipping Shipping is done in house by our professional staff. We use brand new boxes, foam wrap, bubble wrap, packing peanuts and other materials that are necessary in getting your items to you in the same condition that they were presented in the photos. We pack as quickly and efficiently as possible but some items require more care than others. We utilize a web-based shipping solution called Shipping Saint that allows us to offer commercial shipping rates. We do charge a small fee associated with the packing materials and labor, which supply costs and fees related to labor are disclosed in the shipping invoice. Once payment in full has been received for the item(s), we will begin packing your item(s) and you will receive a separate shipping invoice from Shipping Saint that contains the shipping cost. Once the separate shipping invoice has been paid and we create a label, you will be notified via email and text about your tracking number and when you might expect to receive your new items. Any bidder refusing to pay the shipping and handling costs after the items have been paid for shall therefore surrender title to the items after 60 days have passed from the first invoice for shipping. Chargebacks on credit cards due to refusal to pay shipping will be disputed in a court of law in St. Charles, County at the cost of the bidder. Further, we reserve the right to open an active dispute against any successful bidder on the LiveAuctioneer platform for refusal to complete the transaction. BREACHING of TERMS: If bidder breaches or defaults any portion of the Terms & Conditions of auction, bidder agrees to pay any and all charges and expenses incurred by Auction Company, including, without limitation, reasonable attorney's fees, and deficiencies and re-marketing expenses resulting from resale of the item(s) or property. Additional commission shall be due and payable.

If you have not contacted Gregory Hake Auctions to arrange payment within 1 day of the time that invoice is sent, we will charge the credit card you used to register for the auction for the amount of your invoice.