Austin 2015 Day 1

REGISTRATION: 1. For purposes of these General Bidder Rules (at times referred to as "Agreement"), the term "Mecum" shall refer to Mecum Auction Inc. together with its affiliates, successors, assigns, agents, members, managers, shareholders, directors, officers, and employees. A person or entity registering to place a bid for the purchase of any collectible, artwork, signage, memorabilia, automobile, boat, motorcycle, or any other item (collectively or individually referred to as "Lot") presented in conjunction with an auction event hosted in whole or in part by Mecum is referred to herein as "Bidder" and shall be bound by these General Bidder Rules. The Bidder that places the winning bid for the purchase of a Lot is referred to herein as "Purchaser". A person or entity consigning a Lot for auction is referred to herein as "Consignor". Bidder shall be responsible for becoming familiar with the auction process and shall seek additional information as may be necessary prior to placing a bid for the purchase of a Lot. 2. Bidder/Purchaser understands and agrees that Mecum is merely performing an auction service and is not responsible for the Lot Description (defined in Paragraph 6) used in the description of a Lot; regardless of whether such Lot Description appears in any print or electronic media owned, maintained, or in any way associated with Mecum or an auction event. 3. Bidder is required to register in accordance with Mecum's policies and procedures which may be amended from time to time with or without notice. Bidder must use the card and number issued by Mecum when completing purchase of the Lot. Unless unusual or extraordinary events require otherwise (and only performed with the permission of Mecum which may be withheld for any reason whatsoever), invoicing and titling will be done according to the information on Bidder’s completed registration form. 4. For lost, stolen or misplaced bidder badges, a new bidder badge bearing a new number may be issued for an additional $100 registration fee. Bidder shall remain liability for any and all purchases made until a new bidder badge is issued. Alternatively, a Bidder may request that a lost, stolen or misplaced bidder badge be reprinted at no additional cost. Bidder shall, however, assume all liability for bids placed under his, her or its bidder number. 5. Bidder registration fees are non-refundable. PURCHASING: 6. Bidder/Purchaser understands and agrees that all Lots shall be sold 'AS IS WHERE IS' without representation or warranty, express or implied, of any kind being offered by Mecum. Further, Bidder/Purchaser understands and agrees that all Lots are sold subject to and inclusive of all faults, including but not limited to structural, mechanical and cosmetic defects and imperfections and whether or not such faults, defects and imperfections are latent or obvious or included within the Lot Description (defined within this Paragraph 6). Bidder/Purchaser further understands and agrees that any description, representation, warrantee, or guarantee as to a Lot's authenticity, originality, condition, restoration, numbers-matching features, ownership history, mileage, provenance, reliability, uniqueness, limited production, color, options, etc. ("Lot Description") are not those of Mecum. Bidder/Purchaser understands and agrees that he, she or it is solely responsible for determining the accuracy of Lot Description and for determining whether or not to place a bid for the purchase of a Lot. To the fullest extent permitted by law, Bidder/Purchaser hereby irrevocably agrees to release, waive, discharge and forever quit any and all claims, demands or causes of action against Mecum, without limitation, for matters arising out of, involving, or incidental to Lot Description. Bidder/Purchaser shall reimburse Mecum for all costs and expenses incurred by Mecum, including but not limited to reasonable attorneys' fees (with in-house counsel charged at the rate of $150.00 per hour), as a result of defending any action brought forth by Bidder/Purchaser or his, her or its insurer against Mecum involving or incorporating Lot Description. 7. Bidder/Purchaser agrees to accept ownership of the Lot at the fall of the gavel and shall assume all responsibility and liability for said Lot immediately and without further notice being due or given. 8. Mecum shall endeavor to process and deliver Lot titles within 30 days after completion of the auction event contingent upon receipt of good and available funds. Purchaser understands and agrees that delays can and do occur which involve issues beyond Mecum's reasonable control. Mecum shall not be held responsible for damages incurred as a result of a Purchaser's delay in receiving title. 9. All Lots are offered for sale by number and, unless otherwise noted, are presented as a single Lot. The auctioneer will accept bids from on-site and absentee Bidders in a form acceptable to Mecum. The auctioneer has the right to place a bid for Consignor up to the reserve amount. Bidder/Purchaser understands and agrees that the Consignor has the right to “lift” the reserve price at any time whereupon it will be sold to the highest Bidder existing at the fall of the gavel. 10. In cases where the winning bid cannot be determined with reasonable certainty, the Lot shall be offered for sale through the same repeated auction process. The auctioneer will use reasonable judgment as to the good faith of all claims involving bidding uncertainty and the auctioneer's decision shall be final and conclusive. 11. Mecum shall not be responsible for lost or stolen Lots. Further, Mecum shall not be responsible for damage or loss to any Lot unless the damage or loss is caused directly by the sole negligence of willful misconduct of Mecum itself. Lots must be removed from the auction event location within 24 hours of the final Lot offering. If not claimed, Mecum may arrange for the transport and storage of the Lot. Purchaser agrees that Purchaser alone shall be responsible for transportation and storage costs of the Lot and further agrees that Mecum cannot and will not be held responsible for damage, theft, loss, etc. occurring or alleged to have occurred during transportation or storage. Lots not claimed after 30 days following conclusion of the auction event shall be deemed to have been abandoned. 12. Lots that fail to meet the reserve price shall be presented for sale in The Bid Goes On® process associated with the auction event. Lots sold via The Bid Goes On® will be sold under the same terms as Lots sold on the auction block. Mecum is entitled to any and all fees or commissions on any Lot sold within 21 days after the final day of the auction event at which the Lot appears. PAYMENT: 13. Unless previous arrangements have been made, Bidder/Purchaser shall within one (1) hour of placing the winning bid pay for the Lot in the amount of his, her or its winning bid plus applicable commission and taxes. Bidder/Purchaser shall not temporarily or permanently suspend conversion of the payment into good funds immediately available to Mecum. Bidder/Purchaser understands and agrees that any stop payment order shall be conclusive evidence that the Bidder/Purchaser knowingly and purposefully intended to commit fraud at the time the Lot was purchased. Any check issued by Bidder/Purchaser and drawn upon an account with insufficient funds shall also constitute prima facie evidence of Bidder/Purchaser's intent to commit fraud. 14. If making multiple purchases, an open check may be deposited with Mecum's office personnel with full authority granted by Bidder/Purchaser to complete the payment amount within a reasonable time following Bidder/Purchaser's purchases. 15. In the event of a default by Bidder/Purchaser, Mecum may, in addition to asserting all other lawful remedies, perform the following: (i) hold the defaulting Bidder/Purchaser liable for the purchase price of the Lot and sue for specific performance under the terms of this Agreement; (ii) cancel the transaction and retain as full or partial liquidated damages any payment made by the Bidder/Purchaser; (iii) resell the Lot without reserve at a future Mecum auction event or via private sale, with or without advance notice to Purchaser; (iv) purchase the Lot for the same amount offered by Bidder/Purchaser; and/or (v) take any other lawful action deemed necessary or appropriate by Mecum. The defaulting Bidder/Purchaser shall be liable for the payment of any deficiency in the purchase price existing between the original sale price and that obtained after Bidder/Purchaser's default. Bidder/Purchaser shall be liable for all other costs and expenses arising directly or indirectly from Bidder/Purchaser's default, including but not limited to freight, storage, auction entry fees, commissions due, reasonable attorneys' fees, court costs and expenses, etc. In the event that Bidder/Purchaser pays only a portion of the purchase price for any Lot purchased, Mecum shall, at its election, credit the payment received in a manner deemed appropriate in Mecum's sole discretion with any amount being owed to Mecum for current or past obligations of Bidder/Purchaser being first credited. A defaulting Bidder/Purchaser shall be deemed to have granted Mecum a security interest in and to any Lot in Mecum's possession. Mecum may retain such Lot as collateral security for Bidder/Purchaser’s obligation to Mecum. Mecum shall have benefit of all rights of a secured party under the Uniform Commercial Code. 16. Without further notice, Bidder/Purchaser authorizes Mecum to charge Bidder/Purchaser’s credit card for any amount due to Consignor and/or Mecum. GENERAL: 17. Notwithstanding anything in this Agreement to the contrary, Bidder/Purchaser together with its insurer(s) hereby waives and releases Mecum and its insurer(s) from any and all right of recovery, claim, action, or cause(s) of action against Mecum for any theft, loss or damage that may occur, or is alleged to have occurred, to any Lot purchased by Purchaser regardless of cause or origin including negligence or willful misconduct of Mecum to the extent Bidder/Purchaser is insured against such theft, loss or damage under policies carried by Purchaser. 18. For Lots identified as having "matching numbers", additional information is available by visiting www.MECUM.com and accessing the "Entry Rules" tab under "Seller Info". Additional information is also available from Mecum upon request. 19. Mecum shall be entitled to reasonable attorneys' fees and associated costs incurred in the enforcement of these General Bidder Rules and any other agreement(s) to which Bidder/Purchaser is subject. Participation as a Bidder/Purchaser at an auction event constitutes knowledge of, and consent to, the terms and conditions of these General Bidder Rules regardless of whether Bidder/Purchaser places his, her or its signature or mark of acceptance hereon. 20. Bidder/Purchaser understands and agrees that the auction event will be televised live or on a tape delayed basis and will be widely broadcast to a national or international audience. By attending the event and being provided with these General Bidder Rules, Bidder/Purchaser and those attending as guests of Bidder/Purchaser ("Guests") irrevocably consent to Mecum using Bidder/Purchaser's and Guest's image, voice and likeness throughout the universe, in any and all media, in perpetuity including but not limited to live transmission on "Mecum Auctions: Collector Cars & More" and "Mecum Dealmakers" broadcast on NBC Sports Network and its affiliated networks. Bidder/Purchaser shall provide notice of this Paragraph 16 to Guests as it deems reasonably necessary. 21. If any provision, clause or part of these General Bidder Rules, or the application thereof under certain circumstances, is held invalid, the remainder of these General Bidder Rules, or the applications of each provision, clause or part under other circumstances, shall not be affected thereby and shall remain in full force and effect. 22. The use of defined terms in these General Bidder Rules are used only as a matter of convenience and in no way affect the terms or intent of any provisions of these General Bidder Rules. All defined phrases, pronouns and other variations thereof shall be deemed to refer to the masculine, feminine, neuter, singular or plural, as the actual identity of the organization, person or persons may require. 23. The parties, having had the opportunity to consult with counsel, hereby waive any right to trial by jury in any proceeding arising out of or relating to this Agreement and whether sounding in contract, tort or otherwise. The parties may file a copy of this section with any court as written evidence of the knowing, voluntary and bargained-for agreement between the parties irrevocably to waive trial by jury and that any proceeding whatsoever between them relating to this Agreement shall instead be tried in a court of competent jurisdiction by a judge sitting without a jury. 24. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Wisconsin without giving effect of any choice or conflict of law provision or rule that would cause the application of the laws of any jurisdiction other than the State of Wisconsin. Bidder/Purchaser irrevocably submits to the jurisdiction of the State of Wisconsin, Circuit Court of Walworth County, over any dispute arising out of, or relating in any way, to this Agreement or to the transaction(s) to which it relates. The Bidder/Purchaser irrevocably agrees that all claims shall be heard and determined in such Court. The Bidder/Purchaser irrevocably waives, to the fullest extent permitted by law, any objection or defense which he, she, or it may now have, or come to have, regarding the inconvenience of this forum.

A surcharge of 3% will be imposed on all on-line transaction amounts paid for on Visa, MasterCard, Discover and American Express, which is not greater than our cost of acceptance. Debit card transactions do not apply

U.S. Funds Only – no exceptions

Accepted Payment Methods – Cash/Certified Funds/Personal Check/Company Check/Credit Card

Personal or Company Checks – there is a $100 fee applied for all returned checks

Wire Transfers – there is a $100 fee applied for all wire transfers

Credit Card Payments – there is a 3% processing fee applied for all credit card payments

Foreign Buyers – checks must be drawn from a U.S. Bank