THE PENNY BANK AUCTION

1. RSL Auctions acts as an agent for the seller. The contract for the sale of the property is between the seller and the buyer. No statements made within this catalog or made by a representative of or employee of RSL Auctions shall be deemed to be a warranty, representation, or assumption of liability with respect to the property's age, condition, size, quality, variety, importance, provenance, or historical relevance. All property is sold as is. 2. Buyers are responsible for satisfying themselves concerning the condition of the property. 3. The Auctioneer will be solely responsible for determining the bidding increments. 4. The Auctioneer will be the final judge in deciding which bidder has won an item. In the event of a dispute, the auctioneer at his discretion, shall decide whether to reopen bidding or not. 5. Absentee Bids: If you are unable to attend the actual sale, RSL Auctions are authorized to execute bids on your behalf if notified in writing. Complete the enclosed Absentee Bid Form and return to RSL Auctions BEFORE the absentee bid deadline of Friday, June 6, 2014. A deposit of 20% of your total bids is required to confirm your bids. In the event that property purchased by an absentee bid is not fully paid for within 15 days of the sale, the 20% deposit will be forfeited and the items may be resold. We can not accept Buy bids. In the event that two identical bids are received, the first bid form received by RSL Auctions will have preference. 6. Phone Bids: Phone bids will also be accepted. To qualify for a phone line the same procedure of authorization required for an absentee bid is required. A backup bid in the event a party cannot be reached by phone is not required, but strongly recommended. There are a limited number of phone lines available. In the event that there are more requests than lines available, preference will go to the highest bidding parties. In the event, whether human or technical, that a phone call is not made, disconnected or the bidder can not be reached at the number left, the backup bid will be executed. RSL Auctions cannot guarantee that phone bids will be executed. 7. The buyer is required to pay NEW JERSEY 7% SALES TAX unless exemption is allowed under the laws regulating such tax. Dealers must present a valid tax ID certificate in order to quality for exemption. 8. ALL SALES ARE FINAL - NO EXCEPTIONS 9. All accounts are to be settled by the end of the sale. 10. Payment may be made by cash, personal check or credit card. A 26.5% buyers premium will be added to all successful bids. A 3.5% discount will be applied for payment made by cash or personal check, making the buyer's premium 23%. RSL Auctions reserve the right to hold all merchandise paid by check until payment has been cleared by the bank. This may take up to one month. 11. In the event property is not paid for in full, RSL Auctions may pursue one or more of the following rights or remedies. A) charge interest at 2% per month of the unpaid balance. B) hold the defaulting buyer liable for the total amount due and commence legal proceedings for its recovery together with interest, legal fees and costs to the fullest extent permitted under applicable law. C) Cancel the sale D) resell the property E) pay the seller the amount up to the net proceeds payable in respect to the amount bid by the default buyer minus one bid. F) Or to take such other action as we deem necessary or appropriate. 12. Shipping may be arranged through RSL Auctions. A shipping fee of $20 per lot, $80 per 5 lots or $150 per 10 lots is charged plus the incurred postage and insurance. Shipped items may take up to 45 days to be delivered. Contact shipper for complete details (917) 991-7352. 13. RSL Auctions are not responsible for any typographical errors or omissions in this catalog or price key. Photographs in this catalog are of the actual objects being sold but are not shown to scale. 14. RSL Auctions reserve the right to refuse admission, participation in or request the departure of any person/persons 15. All rights reserved. Entire contents Copyright 2014. RSL Auctions Copyright includes, but not limited to, print, media, microfilm and electronic media, such as CDROM's and online computer services 16. If any part of these Conditions of Sale are found by any court to be invalid, illegal or unenforceable, that part shall be discounted and the rest of the conditions shall continue to be valid to the fullest extent permitted by law. 17. By bidding at auction, whether present in person or by agent, by written bid, telephone or other means, the buyer indicates acceptance of these Conditions of Sale. 18. The rights and obligations with respect to the Conditions of Sale shall be governed by the laws of the state of New Jersey.