2023 Rolling Stock Auction 279 N. Main Street Mocksville, NC 27028 IMPORTANT BIDDING TERMS & CONDITIONS - PLEASE READ CAREFULLY BEFORE BIDDING A 15% BUYER’S PREMIUM WILL BE APPLIED TO THE HIGH BID PRICE TO DETERMINE SALES PRICE By participating in this auction, you acknowledge and agree to the following terms and conditions. Your bid is a legally binding contract, and if you are the winning bidder, you must adhere to these terms. Please ensure you understand these terms before placing a bid. 1. Binding Contract: When you place a bid on any item, you are entering into a binding contract. If your bid is the winning bid, you are obligated to complete the transaction. 2. Payment and Pickup: following the auction, if you are the winning bidder, you will need to wire funds or bring a certified check written to The Swicegood Group, Inc. Trust. WE DO NOT ACCEPT PERSONAL CHECKS. If you do not deliver funds within the time prescribed, your credit card will be charged for the final bid amount plus the buyer’s premium and credit card fees. You are required to pick up your items at the scheduled removal times. Failure to do so will result in abandonment of your purchases, and no refunds or adjustments will be given. 3. Item Condition and Descriptions: All items are sold AS-IS. While we strive to provide accurate descriptions, there are no guarantees regarding the condition, quantity, quality, age, or value of the items. Please inspect each lot before bidding. 4. Payment Terms: Payment in full is due at pick up. A buyer's premium of 15% will be added to the final bid amount. 5. Preview and Inspection: A preview of the items will be held on the specified date and time. We strongly encourage bidders to inspect items before bidding. All sales are final, and no refunds will be given. 6. Removal of Purchases: Removal of items is scheduled for the specified dates and times. Buyers are responsible for the removal, loading, and transportation of purchases. Assets must be checked by auction staff with your paid receipt before removal. 7. High Bidder and Starting Bids: The auctioneer has the discretion to determine the highest bidder for each lot. Starting bids and reserve bids may apply at the auctioneer's discretion. 8. All Sales Final: Once the auction concludes, all sales are final. No claims can be made after the auction, and no refunds will be given, regardless of item condition. 9. Titles and Ownership: Titles will be mailed within 14 days of the auction. Ownership transfers to the buyer upon the auctioneer's announcement of sale. 10. Maximum Bid and Online Bidding: You may set a maximum bid for each lot. The bidding will automatically increase in minimum increments up to your maximum bid as others bid on the lot. 11. Announcements and Changes: Any announcements made on the auction day supersede printed materials or website information. The auction company reserves the right to withdraw or re-catalog items, postpone, reschedule, or cancel the auction without notice. 12. Technical Problems: The auction company is not responsible for technical issues that may arise during online bidding. Bidders acknowledge that the online bidding service may fail to function correctly, and no claims can be made against the auction company in such cases. The auctioneer reserves the right to extend the auction if they deem necessary. 13. Default or Delay: The auction company may reclaim and resell unpaid items. Defaulting buyers may be subject to legal action, and all fees associated with collection will be their responsibility. 14. Disputed Bids and Increments: In case of disputes over the highest bidder, the auctioneer's decision is final. 15. Disclaimer: While we make efforts to provide accurate information, all items are sold AS-IS, and no guarantees or warranties are given. Buyers should rely on their own inspections and due diligence. 16. Acknowledgment: By participating in this auction, you acknowledge that you have read, understood, and agree to these terms and conditions. 17. Special Notice: The auction company and seller reserve the right to postpone, reschedule, or cancel the auction at their discretion. 18. Uniform Commercial Code § 2-328. Sale by Auction. (1) In a sale by auction if goods are put up in lots each lot is the subject of a separate sale. (2) A sale by auction is complete when the auctioneer so announces by the fall of the hammer or in other customary manner. Where a bid is made while the hammer is falling in acceptance of a prior bid the auctioneer may in his discretion reopen the bidding or declare the goods sold under the bid on which the hammer was falling. (3) Such a sale is with reserve unless the goods are in explicit terms put up without reserve. In an auction with reserve the auctioneer may withdraw the goods at any time until he announces completion of the sale. In an auction without reserve, after the auctioneer calls for bids on an article or lot, that article or lot cannot be withdrawn unless no bid is made within a reasonable time. In either case, a bidder may retract his bid until the auctioneer's announcement of completion of the sale, but a bidder's retraction does not revive any previous bid. (4) If the auctioneer knowingly receives a bid on the seller's behalf or the seller makes or procures such a bid, and notice has not been given that liberty for such bidding is reserved, the buyer may at his option avoid the sale or take the goods at the price of the last good faith bid prior to the completion of the sale. This subsection shall not apply to any bid at a forced sale. 19: Preview: A preview of the vehicles will be Announced on the website and held at 4987 Lansing Drive Winston Salem, NC. We strongly encourage bidders to preview the assets being sold. All sales are final. No refunds will be given under any circumstances. No exceptions! Photos for online viewing and descriptions of rolling stock are not guaranteed to be correct. Buyer is responsible for determining the condition of all assets. Descriptions may change up to sale day! For more information, please visit our website at ready2bid.com If you have any questions, please contact us at 336-477-5008 . Your participation in this auction signifies your acceptance of these terms. The Swicegood Group, Inc. Auctions-Real Estate NCFL 8790 279 N Main St Mocksville, NC 27028 ready2bid.com T Kyle Swicegood NCAL 8805