Robert Parker Estate Railroad Auction Day 3

Terms of Sale "Strawser Auctions" (Hereafter referred to as "the Auction House") All bidders are responsible for reading and understanding these Terms of Sale, as well as any supplemental notices. 1. General Each lot in this catalog is offered for sale subject to the terms set out below. By bidding at the auction the buyer and all bidders agree to be bound by these terms or those changed and supplemented, whether bidding in person, through a representative, by phone, by internet, or other absentee bid. Upon announcement by the auctioneer, the successful bidder becomes the buyer and owner of property and is immediately responsible for the amount of the successful bid, the buyer's premium, applicable taxes, and other charges provided for in the Terms of Sale. The Auction House retains all rights to copyright and other intellectual property contained in this catalogue. 2. Buyer's Premium, Purchase Price, Taxes, and Billing Buyer's Premium/Purchase Price: Except for property purchased at LiveAuctioneers, a buyer's premium in the amount of 18% will be added to the amount of the successful bid price. The buyer's premium on property purchased on LiveAuctioneers will be in the amount of 18% of the successful high bid. If payment is made via cash or acceptable check the buyers premium shall be 15%. All bidding at auction and all purchases will be in U.S. Dollars. Taxes: Applicable taxes shall include Indiana and Pennsylvania. Sales tax is not charged for purchases shipped out of state. Billing: All successful bidders will be via email; you will receive an invoice from Strawser Auctions, please use the Pay Now button to pay immediately with Paypal. If payment is made with cash or acceptable check the buyers premium will be 15%. If you choose to pay with cash or acceptable check please notify the auction company immediately and they will re-issue an invoice. Please include the invoice number in the memo of your check. Upon the fall of the auctioneer's hammer, the successful bidder becomes the buyer and owner of the property and is responsible for the property, the amount of the successful bid, the buyer's premium, applicable taxes, and other charges provided for in the Terms of Sale in U.S. Dollars, payable immediately. 3. Methods of Payment and Fees PayPal, cash or acceptable check. All payments are due immediately. We reserve the right to hold all goods paid for by check until payment has cleared. If payment is not received from Live Auctioneers buyers within 10 (ten) days from the day we mail the invoice, we will have no choice but to place an NPB on the Buyer's account. If payment is not received within thirty (30) days of sale, the Auction House reserves the right to impose from the date of sale a late charge of 1 1/2% a month of the total purchase price and deny all future credit, resale the item at a future auction, with the balance (if any) due from buyer. 4. Warranties and Guarantees All items are served 'As-Is, Where-Is,' except as expressly stated otherwise in the following paragraph: All measurements are approximate. This Warranty does not cover any typographical errors. This disclaimer of liability on our part applies whether the information is included in the catalog, advertisements, announcements, or communicated through our representatives, bills of sale, or elsewhere, and whether written or oral. 5. Qualifying to Bid Bidding Numbers: All bidders must register and receive a bidding number from the Auction House prior to bidding at the auction. New Buyers: If we do not know you, you will be asked to furnish identification, a valid credit card number, and, possibly, credit references. If you are acting as another's agent or principal, we may request a letter of authorization. A letter from your bank, presented before the sale, may also be accepted, at our discretion. If you are successful and do not remit payment within thirty (30) days, the balance will be charged to your credit card together with such charges set forth in these terms of sale. The auctioneer reserves the right to refuse participation by any bidder, whether on premises or participating on-line or by telephone, whom the auctioneer deems in its discretion to be or have been disruptive of the bidding or auction process, or otherwise deemed affect the integrity of the process. 6. Bidding Increments: The following bid increments will be used for LiveAuctioneers: From $0 to $100 - $5.00 From $101 to $200 - $10.00 From $201 to $500 - $25.00 From $501-$2,000 - $50.00 From $2,000-$5,000 - $100.00 From $5,001-$10,000 - $250.00 From $10,001-$25,000 - $500.00 From $25,001+ - $1,000.00 All unreserved bidding starts at 50% of the low estimate. The auctioneer has the sole and exclusive power, discretion, and authority to regulate the bidding and its increments. 7. Internet Bids The Auction House has engaged the services of LiveAuctioneers as a service for its clients who wish to bid and buy online. Please proceed to www.liveauctioneers.com for all necessary information on how to bid and buy online using this system. The user of Live Auctioneers indemnifies and holds the Auction House and its consignors harmless against any claim arising out of or resulting from your use of the Live Auctioneers site, including all losses, damages, liabilities, and all fees (including attorney's fees), costs, and expenses incurred in connection with any claim. Under no circumstances, including, but not limited to, negligence, shall the Auction House and its consignors be liable for lost profits or any special, incidental, or consequential damages that result from the use of, or the inability to use, this site. If you place absentee bids with the Auction House or Live Auctioneers and also bid in person, by phone or any other means, it is solely your responsibility to cancel any or all absentee bids prior to the start of the auction. If you do not or cannot, regardless of reason, you will be held responsible for the property's purchase. 8. Auctioneer's Determination Final A lot will be sold to the highest bidder as determined in the sole and exclusive judgment of the auctioneer. The auctioneer will also have the sole and exclusive power and authority to a) resolve any disputes between bidders, b) determine whether to pass or re-offer a lot for sale, c) reject or challenge any bid or advance in the bidding, d) exclude any bidder from the premises and e) otherwise regulate the bidders, the bidding and its increments. 9. Payment, Collection, and Shipping Responsibilities of Buyer Buyer Obligations: On the fall of the auctioneer's hammer, title to the property immediately transfers to the successful bidder who, in turn, becomes the buyer of the Property. The buyer assumes full risk and responsibility for the purchased Property, including all costs and expenses of handling, shipping, insurance, taxes, export, and otherwise, and is liable for the full purchase price, plus the buyer's premium, applicable taxes. Collection of Property and Storage Charges: The buyer will pay for the purchased Property immediately and remove it from the premises of the Auction House. If the purchased Property is not removed within thirty (30) days of the sale, the buyer will thereafter be assessed a $10 per lot storage charge per day. The Auction House may, at its discretion, remove the purchased Property to public storage at the buyer's risk and expense. All associated charges will be added to the total invoice and must be paid in full before the Property will be released. Property that has been paid for but remains unclaimed for more than 90 days will become the property of the Auction house. Packing and Shipping: The buyer is responsible for the shipment of all purchased Property. As a convenience to the buyer, the Auction House will give your property to a shipping company. This company will pack and ship or arrange shipment for you via UPS, FedEx or other carrier, fully insured, for a fee payable in advance by credit card. Buyer will be contacted within approximately 30 days for shipping arrangements, with shipping to follow. We are not responsible for any damage or loss that occurs while your objects are in another's care. We will also not be responsible for any damage or loss that occurs if you choose a shipping method that we have advised against and we will require a waiver from you acknowledging this.) All international customs, duties, and other tariffs are the responsibility of the Buyer. The Auction House will declare the selling price as the value in all cases. Buyer has 12 business days after items are picked up by shipper from auction house to make payment for pick up, packaging and shipping. All forms of payment for shipping are accepted. Checks are required to clear before item(s) can be shipped. If using a credit card, shipper MUST have a signed authorization for any amount over $50.00 After 12 business days, shipper reserves the right to charge a fee of $25.00 per week per lot. If items are not removed withing 30 days of pickup date, items not removed will be consigned to a future auction without additional notice to the buyer. Shipper to issue a refund, less charges and expenses. 10. Buyer Default Remedies: If any of the Terms of Sale are not fully complied with by the buyer, the buyer will be in default without need of notice by the Auction House. The buyer shall be liable to the Auction House and the consignor for the total purchase price, including all premiums, charges, and expenses specified in the Terms of Sale. Interest shall accrue at the rate of 18% per annum commencing with the date of the auction. In addition to other remedies available to the Auction House by law, the Auction House may, at its option, a) cancel the sale of the lot(s) on which the buyer defaulted and of any other lots sold to the defaulting buyer at the same or any other auction(s) and retain as liquidated damages all payments made by the buyer, b) resell the purchased Property, whether at public auction or private sale, or c) pursue any combination of a) and b) above. In event of default, the buyer will be responsible to the Auction House and the consignor for any deficiency, any and all costs and expenses, including reasonable attorneys fees, collection fees and expenses, late charges, and other damages. The Auction House may, at its discretion, apply any proceeds of sale otherwise due to the buyer or monies of the buyer in the Auction House's possession to reduce or satisfy the buyer's obligations. Security Interest: As security for full payment to the Auction House and the consignor of all amounts due, the buyer grants the Auction House the right to retain a security interest in the Property purchased at auction and in any other property or money of buyer in the Auction House's possession or coming the Auction House's possession (collectively, "collateral.") The Auction House shall have the rights of a secured creditor as provided by the Uniform Commercial Code and other applicable law. Such security interest in the Property or other collateral will cease when the Property is physically delivered to the buyer or the buyer's agent. 11. Governing Law and Forum for Disputes The laws of Indiana shall govern the auctions of the Auction House. Any disputes that may arise in connection with the auction and/or any auction purchase, and all of the terms and conditions set forth herein above, shall be governed by and construed in accordance with Indiana law. Any one who participates in the auction and/or makes auction purchases agrees to submit to the jurisdiction of the courts of the State of Indiana with respect to any dispute arising in connection with the auction and/or any auction purchases. In the event that the Auction House needs to bring an action to enforce the terms and conditions herein and/or to collect any sum due and owing to it the Auction House shall be entitled in addition to collect its reasonable attorney's fees, collection agency fees, and cost of suit. 12. Limitations of Liability The Auction House acts only as the agent for the consignor and in no event will be liable for any breach or default by the consignor. 13. Severability and Waiver If any provision of portion of these Terms of Sale shall be deemed unlawful, void, or unenforceable under applicable law, that provision or portion shall be stricken and severed from the remaining provisions, which shall remain in full force and effect. Failure to enforce any of the provisions in these Terms of Sale shall not be deemed a waiver of the right to enforce any other provisions of these Terms of Sale. 14. No Assignment Unless the Auction House consents in writing, buyers may not assign their rights or any of their obligations related to an auction or other sale by the Auction House. 15. No Modifications These Terms of Sale may not be changed unless the Auction House and buyer have agreed to do so in a written agreement signed by both parties.