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Terms and Conditions for Online Auctions

THIS IS AN INTERNET ONLY AUCTION

PLEASE NOTE: There are no refunds for items not picked up on time! If you cannot make the removal, you need to send someone on your behalf to pick up for you with their own ID and the printed invoice!

THIS IS AN ONLINE ONLY AUCTION. PLEASE DO NOT BID IF YOU ARE NOT ABLE TO PICK UP YOUR ITEMS DURING THE SCHEDULED REMOVAL TIMES OR MAKE ARRANGMENTS FOR SHIPPING. NO refunds or chargeback's will be granted due to a lack of removal at the designated times. After the scheduled removal, items will be considered abandoned and you will be charged a removal fee for disposal of your items. .

BUYER'S PREMIUM: A 14% buyer's premium will be added to each purchase. If you bid $100.00 at check out you will be charged $114.00.

PAYMENT: Accepted forms of payment include Visa or MasterCard, Discover, or American Express. Credit cards will ALWAYS be IMMEDIATELY charged at the end of the auction unless otherwise specified. .

You must have available balance on your credit card for your online purchases. At the conclusion of the auction you will be sent an email with a total of the items you won. .

PRE-AUTHORIZATION: A $1.00 pre-authorization amount will be applied to your auction for each auction you bid in. This charge is a pending-only charge meant to verify your credit card on file and will drop off once the auction has ended. It will not post permanently to your account. If you have any questions, please contact our support team via our website contact submission page. If you feel this charge was mistakenly posted to your account, you must provide a bank statement showing that the charge was POSTED (not pending) to your account. .

STAFF BIDDING: Please note that staff bidding is allowed in this auction, any one from the staff is welcome to bid on and purchase items for the high bid.

SELLER BIDDING: Bidding by the seller of item(s) in this auction is allowed, the seller may buy back an item for the highest winning bid amount or place a bid to cover their reserve price.

Reserve Auctions- all auctions are presumed to be with reserve unless stated as absolute. See KY KRS 355.2-328

1. All auctions are presumed to be with reserve unless they are explicitly absolute or without reserve. KRS 330.220(5) and KRS 355.2-328(1)

2. There is no requirement that at an auction with reserve the reserve must be announced when it is attained. KRS 330.220(6)(d)

3. Auctioneer may bid on their own behalf provided that this has been fully disclosed to the bidders and the seller. KRS 330.220(6)(a)

INCREASING YOUR OWN BID/BIDDING ERRORS: Please be aware that many bidders routinely increase their own bid to price an item out of reach of other bidders. You should immediately review your bids once submitted. If you mistakenly increase your own bid, place your bidder number in the bid field, or make a typo you must immediately contact our office by in writing - please use the contact sheet on our website (we MUST have your request in writing). We will not reverse bids after the auction has closed, no exceptions. ***Please note that bid cancellations or retractions are at the manager's discretion only - submitting your bidding error does not guarantee that your bid can or will be deleted/retracted/cancelled.

STAGGERED CLOSING: The online auction closes 5 items per minute. This feature will close the bidding on intervals. This feature works great with the auto-extend feature to closely emulate a 'live' auction.

DYNAMIC CLOSING: The closing time of an asset is automatically extended an additional 3 minutes whenever a bid is placed within the last 3 minutes of the asset's closing time. .

BID NOTIFICATION: If you have been outbid you will be notified by email until the auction begins to close. To quickly review your bids and see if you have won, you can utilize the 'review bids' feature. Items that you have been outbid on will be clearly marked.

WINNING BIDDER NOTIFICATION: You will be contacted by email ONLY (you are responsible for checking your email) If you feel you have won an item and have not received an email, you must notify us via our contact submission form no later than 9am the next day. .

In the event an item is not available for pickup, the buyer must, notify our onsite staff and file a claim by replying to your original emailed invoice noting what was not available within 24 hours of the pickup date. After 24 hours, American Eagle Railroad Group, Inc. the company and buyer agrees that no adjustment or refund will be made.

SALES TAX: Sales tax will be collected.

IMPORTANT TAX EXEMPT STATUS: If you are tax exempt, prior to the conclusion of the online auction you must DOWNLOAD and email a copy of the appropriate states tax exempt form via our support team via our website contact submission page. If you have any questions contact 859-577-5007 or email our support team via our website contact submission page. You must include your bidder number and the closing date of the auction. Forms without this information will not be accepted and you will have to apply to the state for a refund.

CAUTION: For demonstration purposes, assorted equipment may be joined. Do not assume a lot consists of more than one item simply because they are connected or pictured together. Please inspect the lot numbers and read the descriptions.

CATALOG INACCURACIES: You are bidding on the described item in the photo. Please always read the item description.

WARRANTY & CONDITION OF ITEMS SOLD: All items are sold "AS IS, WHERE IS" with NO WARRANTY expressed or implied by the lot number affixed to the item. This sale is to the business community as "equipment" & "inventory" without any implied or expressed warranty. Descriptions are believed to be accurate but not guaranteed. When you are not certain of the condition or use of an item please bid accordingly. You are bidding on the described item in the photo.

Bidders are responsible for their own removal. Any item NOT picked up by the set time will be considered abandoned. Removal shall be at the expense, liability, and risk of the purchaser. Purchases will be released upon presentation of a paid email receipt. Please insure that movers or anyone picking up items on your behalf have your paid receipt at the pickup location no items will be released with a paid email receipt.

IMPORTANT! American Eagle Railroad Group, Inc. will have the option of reselling, removing, storing or abandoning, at the expense and risk of the purchase, items not paid for and/or removed within the specific time. The buyer agrees to pay all deficiencies, legal, collection; transportation and storage expenses associated with delinquent accounts or abandoned items.

CHOOSE WISELY: We want everyone to get a good deal. However, when you bid on the wrong item or decide an item is not suited for your intended use, our clients are not willing to assume the cost of your mistakes. When in doubt about condition, completeness or suitability for intended use, please bid accordingly.

American Eagle Railroad Group, Inc. reserves the right to add or remove items from the auction, split or combine lots, add minimum bids or reserve prices, cancel, suspend, extend or reschedule an individual item and/or auction event, and make changes to the auction closing times or the inspection or removal times.

Any controversy or claim arising out of or relating to this contract and/or agreement, or breach thereof, shall be settled by arbitration in accordance with the Commercial Arbitration Rules of the American Arbitration Association, and judgments upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. Venue will be Kenton County, Kentucky.

LIABILITY: American Eagle Railroad Group, Inc. and Sellers(s) liability shall be limited to the refund of bidder(s) purchase price.

LIMITATIONS: The above-stated Conditions of Sale cannot be altered except in writing by American Eagle Railroad Group, Inc.

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