TERMS AND CONDITIONS OF BIDDING AND SALE All buyers are required to register. The offering and sale of property by YELOIRON Auctions, Inc. is subject to the following terms and conditions that may be modified or supplemented by oral announcements prior to or during the sale. By bidding at this auction each buyer and bidder agrees to be bound by these terms and conditions of sale. BEFORE THE AUCTION 1. REGISTRATION: All buyers are required to register before placing a bid. 2. INSPECTION PRIOR TO BIDDING: All property is being sold AS-IS, WHERE-IS and with all faults. Auctions may include items available both on-site and off-site. All on-site merchandise is available for inspection prior to sale. Off-site items will be inspected by YELOIRON Auctions, Inc. representatives and every effort will be made to provide a full description of the item condition. 3. WARRANTIES: All warranties, express or implied, including without limitation, the implied warranties of MERCHANTABILITY and FITNESS OF PURPOSE are disclaimed by YELOIRON Auctions, Inc. and Seller. All information contained in the item description are opinions and not representations of warranties. DURING THE AUCTION 4. INTERNET AND IN-PERSON BIDDING: The highest bid, whether submitted in-person or online, when the bidding closes will be the winning bid for that item. 5. AUCTION SITE: Buyer acknowledges responsibility for any personal injury and property damage caused by buyer or his agent and further agrees to hold YELOIRON Auctions, Inc. or Seller, harmless for any personal injury to himself or his agents and any property damage incurred on sale premises. AFTER THE AUCTION 6. INSURANCE: The Buyer will obtain full liability insurance on all purchased property as required by law. 7. RISK OF LOSS: The Buyer agrees to take full responsibility and assumes all risk of loss for all property purchased from Yellow Iron Auctions Inc from the moment the item is won. Buyer shall not hold Yellow Iron Auctions, Inc. or Seller, responsible for loss or damage to any purchase. 8. ACCEPTANCE OF ITEM: The Buyer agrees to take possession on the item and to honor the winning bid. 9. PAYMENT: See Payment Instructions above. 10. SALES TAXES: All sales are subject to Missouri Sales Tax unless you have a proper Resale Exemption Certificate or a Farm Exemption. A copy of the Resale Exemption Certificate or Farm Exemption must be provided at time of registration if you are a Dealer for Re-sale. This certificate must bear your company identification and a Sales Tax Permit Number. Without this information you or your company will be required to pay Missouri Sales Tax on all purchases. 11. BUYER'S PREMIUM: A 15% buyer's premium will be assessed for every item sold and will be included in the final sales total. 12. TERMS OF SALE: FULL SETTLEMENT SHALL BE MADE ON SALE DAY, ALL SALES FINAL. The United States and State Laws and Penalties for failure to settle and pay shall apply. Settlement to be made in U.S. Funds. Payment for purchases by personal or company check must be accompanied with proof of identity. 13. DEFAULT CHARGES: If an auction transaction is defaulted on for any reason, YELOIRON Auctions, Inc. reserves the right to charge the winning bidder a default fee. The default fee is 15% of the hammer price. YELOIRON Auctions, Inc. and/or the seller reserve the right to pursue all legal remedies. 14. TITLES: All Titles and Registration Certificates will be mailed to the buyer within ten (10) business days of the day of the auction. 15. NON-U.S. BUYERS: Buyers from outside of the U.S. that do not have United States bank accounts will be required to pay in U.S. funds by wire transfer directly from their Financial Institution. It is the responsibility of the buyer to contact their customs broker regarding export/import modifications to meet export/import safety regulations. 16. RECEIPT: A receipt/invoice will be issued to the Buyer at the time of sale. This receipt/invoice must be presented to authorized personnel before any item can be removed from the auction site. 17. EQUIPMENT REMOVAL DATE: The Buyer agrees to remove all purchased property from the auction site by 4pm on September 15, 2023. 18. REVOCATION/DISPUTES: YELOIRON Auctions, Inc, and seller, reserve the right to revoke any bid card at any time and shall designate the purchaser after each item of merchandise is auctioned; if a dispute arises between two or more bidders, the Auctioneer reserves the right to reopen the bidding. The Auctioneer’s designation of a buyer shall be final. The Auctioneer has the right to withdraw any item prior to the auction without any liability. The Auctioneer reserves the right to reject any bid not proportionate with the value of any item offered. 19. UTILITY DISCONNECTS: The buyer is responsible for the proper and safe disconnection of all utilities including engines, electric, water, gas and air. Buyer ensures that no hazard will be created by disconnection, e.g. no exposed electrical wires, etc. All wires will be disconnected at the breaker in the utility breaker box. If an electrician, plumber or mechanic is required to disconnect purchased items safely, the buyer will bear that expense. In addition, if any damage is done to adjacent items in the process of disconnecting and/or removing purchased items by buyer, buyer will be responsible for reimbursing owners of those adjacent items for damages. 20. GOVERNING LAW AND JURISDICTION: The laws of the State of Missouri shall apply to these terms and conditions of Bidding and Sale. Buyer consents to the jurisdiction of the state courts of the state of Missouri located in Greene County, Missouri and the Federal Courts for the Western District of Missouri. Buyer also agrees that any legal proceeding brought against YELOIRON Auctions, Inc. will only be brought in the state courts of the state of Missouri located in Greene County, Missouri or the Federal Courts for the Western District of Missouri.” 21. LIMITATION and LIABILITY: YELOIRON Auctions, Inc is acting as an agent only in connection with the sale of property and disclaims any responsibility for a breach or default by the seller. In no event will YELOIRON Auctions, Inc’s liability exceed the purchase price actually paid by buyer and it will have no liability under any circumstances for indirect, special, incidental or consequential damages.