7/8 THE TOOL BLOCK $1 START !

Ye Olde Auction Block, LLC., reserves the right to withdraw any auction item or auction at any time before, during, or after the auction without liability. A low estimate and a high estimate are given on each auction item. Estimates should not be relied on by bidders as a likelihood of the actual selling price. Upon the fall of the auctioneer's hammer, ownership of the offered item passes to the highest bidder acknowledged by the auctioneer, subject to fulfillment by such bidder, of all the conditions set forth herein, and such bidder thereupon; 1) Winning bidder assumes full risk and responsibility thereof, but not limited to earthquake, insurance, fire, theft, removal, and storage or damage from any and all causes 2) Winning bidder will pay the full purchase price thereof or such part as we may require. In addition to other remedies available to us by law, we reserve the right to impose a late charge of 1.5% per month of the total purchase price if payment is not made in accordance with the conditions set forth herein. Regarding any Purchaser who may be represented by a bidder, please note that it is the bidder who is personally and individually responsible for any obligations of the purchaser set forth in the terms and conditions of the sale. If any applicable conditions herein are not complied with by the purchaser, in addition to other remedies available to us and the manufacturers we work with by law, including, without limitation, the right to hold the purchaser liable for the total purchase price, we at our option may either; a. Cancel the sale, retaining as liquidated damages all payments made by the purchaser.b. Resell the property privately or at public auction without a reserve, and the purchaser will be liable for any deficiency costs including handling charges, the expenses of both sales, our commissions on both sales at our regular rates, reasonable attorney's fees, incidental damages, and all other charges due hereunder. In the event that such a buyer pays a portion of the purchase price for any or all lots purchased, Ye Olde Auction Block, LLC. shall apply the payment received to such lot or lots that Ye Olde Auction Block, LLC. in its sole discretion deems appropriate. In the case of default, purchaser shall be liable for legal fees and expenses. In addition, a defaulting purchaser will be deemed to have granted us a security interest in, and we may retain as collateral security for such purchaser's obligations to us, any property in our possession owned by such purchaser.