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TERMS AND CONDITIONS By registering to bid in an auction conducted by MORTON AUCTIONEERS & APPRAISERS bidders agree to be bound by these Terms and Conditions. 1. ACCEPTANCE OF TERMS: Bidding on any item, whether in person, by absentee bid, or via a real-time internet auction, indicates the bidder's agreement to be bound by these Terms and Conditions. 2. TERMS OF SALE: Announcements made the day of auction take precedence over any previous communication. The auctioneer reserves the right to withdraw any lot at any time before its final sale and to reject any bid for any reason. The highest bidder for each lot, acknowledged by the auctioneer, shall be the "buyer". Any dispute that may arise as to bidding, or between two or more bidders, will be settled by the auctioneer and the auctioneer's decision will be final. 3. BUYER'S PREMIUM: Buyer's shall pay the final bid price of the lot, plus a buyer's premium for that lot equal to 22% of the final bid price. 4. ESTIMATES: Presale estimates are intended to be guides and may or may not reflect the actual selling price of a lot. MORTON AUCTIONEERS & APPRAISERS reserves the right to change estimates on any lot at any time. 5. RESERVES: Lots may be auctioned with reserve, and the auctioneer may bid on behalf of the reserve without further notice. Neither Consignors nor their agents, except as in the preceding sentence, are allowed to bid on their own items. 6. INSPECTION: All lots are available for inspection prior to the auction. We try to be as accurate as possible in our descriptions and measurements however, condition reports are always subjective and all dimensions should be considered approximate. We strongly urge you to make your own inspections. Responsibility rests with the buyer to assess the condition of any and all lots sold by MORTON AUCTIONEERS & APPRAISERS. 7. WARRANTIES AND DISCLAIMERS: All sales are final, with no returns or refunds. ANY AND ALL LOTS ARE SOLD "AS IS WHERE IS" without any representations or warranties expressed or implied by MORTON AUCTIONEERS & APPRAISERS and/or the seller/consignor. Catalogs, including on-line catalogs and brochures are guides only and are based on sources believed to be reliable but their accuracy cannot be guaranteed. No warranty, whether expressed or implied, is made with respect to any description or condition report contained in this auction or correspondence. Participation in the auction indicates your agreement with the above conditions. 8. INTERNET/ABSENTEE/PHONE BIDDING: Internet bidding may be available for certain auctions. There may be additional terms and conditions that apply to internet/absentee/phone bidding that should be reviewed prior to the auction. All absentee bids will be executed in accordance with the bid increment table. MORTON AUCTIONEERS & APPRAISERS is not responsible for failure to execute any bid for any reason. 9. BIDDING INCREMENTS: MORTON AUCTIONEERS & APPRAISERS reserves the right to change bid increments at any time prior to or during the auction. 10. BUYER'S RESPONSIBILITY: Upon the fall of the hammer, title to the offered lot shall pass to the buyer and the buyer immediately assumes full risk and responsibility for that lot, including liability for loss or damage. 11. PURCHASE PRICE AND PAYMENT: The purchase price for each lot shall equal the final bid price, buyer's premium, and any and all applicable sales taxes. Payment may be made in the form of; cash, check (on approval), money order, cashier?s check, American Express, Discover Card, MasterCard, or Visa. Any and all charges incurred by the buyer will be immediately billed to the credit card on file with MORTON AUCTIONEERS & APPRAISERS. Buyers must pay the full purchase price at the time of sale. No property will be released by MORTON AUCTIONEERS & APPRAISERS until payment in full has been received. 12. SALES TAX: Buyers are required to pay any and all applicable state and local sales taxes. Tax exempt individuals, businesses, and organizations must present a valid tax exemption certificate at the time of purchase. 13. SHIPPING: It is the responsibility of the buyer to remove purchased property at his or her expense after the auction. We do not make shipping arrangements. At the buyers request we will provide the name and telephone number of a packing and shipping service in our area. MORTON AUCTIONEERS & APPRAISERS is not liable for any loss, damage, omission, or delay by any packing, shipping, or transport, company or individual. 14. SHIPPING CHARGES: Buyers are required to pay for all packing, shipping and insurance charges. Be aware that for larger and/or valuable items, shipping charges can be substantial. 15. REMOVAL AND STORAGE OF PROPERTY: Following the auction, buyers are required to remove all purchased Lots from the premises. MORTON AUCTIONEERS & APPRAISERS assumes no responsibility or liability for any damage or loss to any property that has not been removed from its premises after the auction. Where property is not collected within five (5) business days from the date of the auction, whether or not payment has been made, MORTON AUCTIONEERS & APPRAISERS reserves the right to have the property delivered and stored by a professional packing and shipping company at the buyer's expense. The buyer assumes full re-responsibility for any and all moving and/or storage fees. MORTON AUCTIONEERS & APPRAISERS assumes no responsibility for any damage or loss associated with the transportation, delivery or storage of property. 16. CANCELLATION OF SALE: If purchased property remains in the custody of MORTON AUCTIONEERS & APPRAISERS for a period of 60 days or more following the auction, MORTON AUCTIONEERS & APPRAISERS may, at its discretion, cancel the sale retaining as liquidated damages any payments made by the buyer. Complaints or compliments should be directed to: Texas Department of Licensing and Regulations, P.O. Box 12157 Capital Station Austin, TX 78711. 1-800-803-9202. Covered by the Recovery Fund.