Machine Shop - Grinding, Lathes, CNC & more

All internet bidders MUST register by Monday, May 15, 2006, 4:00 PM Eastern time - NO EXCEPTIONS. All bidders and others attending this auction agree that they have read and fully understand these terms and agree to he bound thereby. All purchasers are required to have a Bidders Number to bid giving, proper photo ID, full name, address, and signature agreeing to terms of sale. Seller & Auctioneer reserve the right to refuse admittance to, or expel anyone from the auction site for interference, nuisance, canvassing, soliciting, bid rigging, failure to adhere to the terms of sale, or for any other reason deemed necessary by the Auctioneer. There will be a ten-percent buyer’s premium added to each sale, 14.0 percent buyer’s premium will apply to on-line bids. If applicable, state and local sales tax will be charged unless auctioneer is presented with a valid exempt use or resale certificate. The Auctioneer reserves the right to withdrawal from the sale of any of the items listed or to sell at this auction any items not listed, and also reserves the right to group one or more lots into one or more selling lots or to subdivide into two or more lots. Whenever the best interest of the seller will be served the Auctioneer reserves the right to sell all of the items listed in bulk. If any dispute arises between two or more bidders, the auctioneer may decide the same or may immediately put the lot up for sale again, and resell to the highest bidder. The decision of the Auctioneer shall be final and absolute. The auctioneer reserves the right to reject any and all bids. On lots upon which there is a reserve, the auctioneer shall have the right to bid on behalf of the seller. Auctioneer may also bid on behalf of proxy bidders. The auctioneer shall not be responsible for the correct description, authenticity, genuineness or defect in any lot, and makes no warranty in connection therewith. ALL SALES ARE FINAL. No deduction will be allowed on damaged articles as all goods being exposed for public auction are sold “as is”, “where is”, and without recourse. All invoices should be checked at time of sale, as no adjustments will be made thereafter. All purchasers much check out at the cashier’s office today, before leaving the premises. Failure to check out today may result in forfeiture of deposit. Check out will be permitted at any time, but no items may be removed until the completion of the auction. A minimum deposit of 25% or $100.00 is required at the time of successful bid of each item. Auctioneer may ask for full payment, at his discretion. All deposits must be paid in cash, certified funds, or company check – only if accompanied by a bank letter guaranteeing unqualified payment. All bills must be paid in full at the conclusion of the sale. At the Auctioneer’s option, all deposits and/or payments can first be applied to any outstanding invoices. The full purchase price on all lots sold to the same buyer must be paid within the time fixed and before removal of any of the items. In default of payment of bills in full within the time herein specified, the auctioneer in addition to all other remedies allowed by law, may retain all moneys received as deposit or otherwise as liquidated damages. Lots not paid for and/or removed within the time specified herein may be resold at public or private sale without further notice, and deficiency together with all expenses and charges of re-sale will be charged to the defaulting purchaser. Internet bidders are required to make full payment within 24 hours of the sale by wire transfer or cashiers check. Removal times are as follows: Today, immediately following the sale for approx. one hour for small items only, (NO RIGGING ON AUCTION DAY); Thursday 5/18/06, Monday – Wednesday 5/22/06 – 5/24/06 from 8:00 AM until 3:00 PM. All small tooling & carry out items must be removed today. Perillo Auction will not be responsible for small items left on the premises overnight. Removal shall be at the expense, liability, and risk of the purchaser. Purchasers agree to provide Auctioneer with a valid certificate of insurance for any agents or riggers engaged by Purchaser to remove items from premises, naming Perillo Auction & Liquidation Services, Inc. and L & S Corp. as additionally insured. Insurance coverage must include general liability, personal injury, workers compensation, and cover the use of any trucks, forklifts, machinery or tools brought onto the premises to assist in the dismantling or removal of equipment. Auctioneer and Seller must approve all riggers and insurance coverage must be in amounts deemed appropriate by auctioneer’s attorney. Whether or not any item requires rigging will be at the sole discretion of the Auctioneer. Purchases will be delivered only upon presentation of paid bill. Auctioneer shall not be responsible for goods not removed within the time specified, and shall have the option of removing and storing such goods at the expense of the purchaser, or retaining all right and title to such goods, without any responsibility to the purchaser including the refund of deposits or payments for such goods. Goods stored at the auction site prior to removal by auctioneer, or any alternate location, will be assessed a storage rate of $300 per item per day, payable by purchaser. Auctioneer shall not in any event be liable for non-delivery or for any other matter or thing, to any purchaser of any lot, other than for the return to purchaser of the deposit or sum paid on said lot, should the purchaser be entitled to it. Purchaser agrees to indemnify and hold auctioneer and seller harmless from and against all claims and liabilities relating to the condition or use of the articles purchased or failure or user to follow instructions, warnings or recommendations of the manufacturer, or to comply with federal, state and local laws applicable to such articles, including OSHA requirements, or for proximate or consequential damages, costs or legal expenses arising therefrom. No claims will be allowed after goods are removed from premises. Persons attending during exhibition, sale or removal of goods assume all risks of damage of or loss to person and property and specifically release the auctioneer and seller from liability thereof. Neither the auctioneer nor his principal shall be liable by reason of any defect in or condition of the premises on which the sale is held. The record of the sale kept by the auctioneer and bookkeeper will be taken as final in the event of any dispute. All questions pertaining to the validity, construction, execution and performance of this Agreement shall be construed in accordance with and governed by the laws of the State of New Jersey, County of Somerset. Shipping & Removal: All buyers are to make all arrangements for shipping and pick-up. The following companies may be used, however we have no relationship or control with these companies. Buyer accepts full responsibility for all actions, faults or failures of the riggers or shipping companies. Trucking & Rigging (alpahbetical order) A & A Machinery 215-428-1100 Ambrose Machinery 215-674-9232 Hopatcong Rigging 973-663-4103 Lienua Trucking 908-686-2900 Pedowitz Machinery 718-923-1862 Scandia Industrial 201-247-5082 Pack & Ship Companies Action Pak 800-755-9764 Craters & Frieghters 610-397-0488 UPS Store 215-860-6662

No SALES TAX FOR THIS AUCTION