David Dike Fine Art Texas Art Auction

The following, as amended by any posted notices, specific bills of sale or similar instruments relating to a transaction or oral announcements during the sale, constitutes the entire terms and conditions on which property listed in the catalogue shall be offered for sale or sold by Miles Autry Auctioneers, Inc., the auctioneer conducting the sale on behalf of any consignor for whom we act as agent. DDFAA (as subsequently defined) is not an auctioneer and is not conducting the auction or arranging any resulting transaction. In these Conditions of Sale, "We" and "Our" refer to Miles Autry Auctioneers, Inc. 1. As used herein the term "bid price" means the price at which a lot is knocked down to the purchaser and the term "purchase price" means The aggregate of (a) the bid price, (b) A PREMIUM PAYABLE BY THE PURCHASER OF 20% of the hammer price and (c) unless the purchaser is exempt by law from the payment thereof, any Texas or local sales tax (or compensating use tax of another state) and applicable taxes. Miles Autry Auctioneers, Inc. has been authorized by the consignor to retain, as part of our remuneration, the premium payable by the purchaser. 2. On the fall of the auctioneer's hammer, the highest bidder shall be deemed to have purchased the offered lot, and title to the lot shall pass to the purchaser, in accordance with all of the conditions set forth herein and thereupon the purchaser (a) assumes full risk and responsibility therefore (b) if requested will sign a confirmation of purchase, and (c) will pay the purchase price in full in cash for all lots purchased. To prevent misdelivery and inconvenience in settlement of a purchase, no lot may be transferred. All property shall be removed from our premises at the purchaser's expense immediately following the sale. If not so removed we may, as an accommodation to the purchaser, transfer the property to a public warehouse or other premises under our control or the control of DDFAA at the purchaser's sole risk and expense. Each sale made pursuant to these Conditions of Sale will be deemed to constitute a grant of security interest by the purchaser to us in, and we may retain as collateral security for the purchaser's obligations to us or our assignee, any of the purchaser's property in our possession, and we may apply against such obligations all monies held or received by us for the account of, or owing to, the purchaser. Each purchaser consents to the filing of public notices or our lien. Whenever the purchaser pays only a part of the total purchase price for one or more lots purchased, we may apply such payments, in our sole discretion, to the lot or lots we choose. Payment will not be deemed made in full until we have collected all amounts due in cash or good funds represented by cleared checks or cashier checks. If the foregoing conditions or any other applicable conditions herein are not complied with, in addition to other remedies available to us and the consignor by law, including but without limitation, the right to hold the purchaser liable for the purchase price, we at our option may either (a) cancel the sale, retaining as liquidated damages all payments made by the purchaser or (b) resell the property with a three day notice to the original defaulting purchaser, and in such event the purchaser shall be liable for the payment of any deficiency plus all costs and expenses of both sales, our commission at our standard rates, all other charges due hereunder, attorney's fees and incidental damages; or (c) take any measures it deems necessary. If Miles Autry Auctioneers, Inc. must resell the property, the original defaulting purchaser will be held responsible for any deficiencies in the purchase price, including any and all associated expenses including reasonable attorney's fees, warehousing, commissions or any other costs associated with the default. No actions by us or any third party before or after the auction shall be deemed a waiver of any of the foregoing. 3. We reserve the right to withdraw any property at any time before the actual sale. Unless otherwise announced by the auctioneer at the time of sale, all bids are per lot as numbered in the catalogue and no lot shall be divided for sale. 4. The auction will be conducted by Miles Autry, State License #7998. We reserve the right to reject any bid from any bidder. The highest bidder acknowledged by the auctioneer shall be the purchaser. In the event of any dispute between bidders, or in the event the auctioneer doubts the validity of any bid, the auctioneer shall have sole and final discretion either to determine the successful bidder or to re-offer and resell the article in dispute. If any dispute arises after the sale, our sales records shall be conclusive in all respects. 5. If we are prevented by fire, theft or any reason whatsoever from delivering any property to the purchaser, our liability shall be limited to the sum actually paid therefore by the purchaser and shall in no event include any incidental or consequential damages. 6. Some lots are offered subject to a "reserve," which is an undisclosed minimum price below which the lot will not be sold. If a lot is offered subject to a reserve, the auctioneer may implement such reserve by bidding on behalf of the consignor, whether by opening bidding or continuing bidding in response to other bidders until reaching the reserve. 7. ALL STATEMENTS CONTAINED OR IN ANY BILL OF SALE, INVOICE OR ELSEWHERE, OR MADE BY THE AUCTIONEER, AS TO AUTHORSHIP, PERIOD, CULTURE, SOURCE, ORIGIN, MEASUREMENT, QUALITY, RARITY, PROVENANCE, IMPORTANCE, EXHIBITION AND LITERATURE OF HISTORICAL RELEVANCE OR PHYSICAL CONDITION ARE QUALIFIED STATEMENTS OR OPINION AND NOT REPRESENTATIONS OR WARRANTIES. WE AND CONSIGNORS MAKE NO REPRESENTATION AND WARRANTIES AS TO WHETHER THE PURCHASER ACQUIRES ANY COPYRIGHTS, INCLUDING BUT NOT LIMITED TO, ANY REPRODUCTION RIGHTS IN THE PROPERTY. No employee or other agent of Miles Autry Auctioneers, Inc., the auctioneer, David Dike Fine Art, L.P., Dike Management, LLC, David Dike Fine Art Auction, David Dike Fine Art or of David Dike (collectively "DDFAA") is authorized to make on behalf or that of the consignor any representation or warranty, oral or written, with respect to any property. Prospective bidders should inspect the property before bidding to determine its condition, size and whether or not it has been repaired or restored. THE PURCHASER EXPRESSLY ACKNOWLEDGES AND AGREES THAT IN NO EVENT SHALL WE BE LIABLE FOR ANY DAMAGES INCLUDING, WITHOUT LIMITATION, ANY COMPENSATORY, INCIDENTAL OR CONSEQUENTIAL DAMAGES. IN NO EVENT WILL OUR LIABILITY OR THE LIABILITY OF DDFAA TO A PURCHASER EXCEED THE PURCHASE PRICE ACTUALLY PAID. 8. All deliveries will be shipped COD unless otherwise agreed to by purchaser and Miles Autry Auctioneers, Inc. If packing and handling of purchased lots is done by us, it is done at the entire risk of the purchaser. We are not liable for any acts or omissions of carriers or packers, including those we may recommend. Such carriers or packers may carry their own insurance and any claim for loss or damage should be addressed directly to them. No items will be shipped unless we specifically agree to do so. 9. Unless prior arrangements have been made with Miles Autry Auctioneers, Inc., there may be a seven day waiting period if purchasing artwork with a personal or company check. To avoid delay of this sort, bidders are encouraged to prearrange check approval or establish a line of credit with Miles Autry Auctioneers, Inc. by calling (214) 720-4044 no later than noon on Saturday, October 22, 2005. There will be no exceptions. Bank card purchases will be honored at our option. 10. These Conditions of Sale and the purchaser's and our respective rights and obligations hereunder are governed by Texas law. By bidding at an auction, whether in person or by agent, telephone or other means, the purchaser or bidder agrees to be bound by these Conditions of Sale and to consent to the exclusive jurisdiction of the state courts of, and the federal courts sitting in, the State of Texas. All of our obligations under these Conditions of Sale and the obligations of purchaser to pay, are performable in Dallas, Dallas County, Texas. 11. These Conditions of Sale shall bind the successors and assigns of all bidders and purchasers and inure to the benefit of our successors and assigns. No waiver, amendment or modification of the terms hereof (other than posted notices or oral announcements during the sale) shall bind us unless specifically stated in writing by us. If any part of these Conditions of Sale is for any reason invalid or unenforceable, the rest shall remain valid and enforceable. 12. As a service to those wishing to place bids, we may at our discretion accept bids without charge in advance of sale by telephone, or in writing on bidding forms available from us. "Buy" bids will not be acceptable; all bids must state the highest bid price the bidder is willing to pay. As noted above, a premium payable by the purchaser will be added to the bid price. In the event identical bids are submitted, the earliest will take precedence. Absentee bids shall be executed in competition with other absentee bids, any applicable reserve and bids from the audience. Successful absentee bids may not be acknowledged, but sale results and selling prices for any lot may be obtained by telephoning us during normal business hours. We assume no responsibility for failure to execute these bids for any reason whatsoever. 13. As a convenience to our clients, we furnish pre-sale estimates for all lots included in the catalogue. These are intended as an approximate guide to current market value, and should not be interpreted as a price or as an appraisal. The final bid may well be less or more than any estimate printed. 14. EXCEPT AS EXPRESSLY PROVIDED ABOVE, ALL PROPERTY IS SOLD "AS-IS" AND NEITHER MILES AUTRY AUCTIONEERS, INC., THE AUCTIONEER, DAVID DIKE, THE DAVID DIKE FINE ART AUCTION, DAVID DIKE FINE ART, L.P. OR DIKE MANAGEMENT LLC, NOR THE CONSIGNOR NOR THE AGENT OF ANY OF THEM MAKES ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIES, AS TO THE TITLE, MERCHANTABILITY, FITNESS OR CONDITION OF THE PROPERTY OR AS TO THE CORRECTNESS OF DESCRIPTION, GENUINENESS, ATTRIBUTION, PROVENANCE OR PERIOD OF THE PROPERTY OR AS TO WHETHER THE PURCHASER ACQUIRES ANY COPYRIGHTS OR OTHER INTELLECTUAL PROPERTY RIGHTS IN LOTS SOLD OR AS TO WHETHER A WORK OF ART IS SUBJECT TO THE ARTIST'S MORAL RIGHTS OR OTHER RESIDUAL RIGHTS OF THE ARTIST. 15. All rights to this catalogue are reserved. Some of the images may be the subject of copyright or other rights of the artist or owner. No part of this catalogue may be reproduced without permission.

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