Machine Shop Liquidation - Online Auction Auction Location: Benjamin's Machinery & Repair - 131 Gay St., Arlington, TX AGREEMENT BETWEEN BIDDER AND AUCTIONEER - REV 08/13/20 AKA TERMS AND CONDITIONS READ CAREFULLY AND COMPLETELY AS ALL AUCTIONS ARE DIFFERENT These are the Terms and Conditions of Sale for this online auction. They consist of this introduction and nineteen numbered paragraphs that outline the relationship between you ("the Bidder") and Jones Swenson Auction Marketing, Inc. dba Jones Swenson Auctions ("Auctioneer"). If you want to bid in this online auction, you will first have to certify that you have read, understood, and agreed to these Terms and Conditions. Such certification will function as your legal and binding electronic signature. If you choose to make this certification, these Terms and Conditions will become binding both on you and on the Auctioneer, and all parties will be expected to abide by the Terms and Conditions if any issues arise in connection with this sale. Inspection / Preview time: Monday, August 24 by appointment. Call (972)387-1110 1. This is a Public Auction. By registering to bid in this auction, you acknowledge and agree to these terms and conditions. Lots begin closing in numerical order at 9:00 AM CT on Tuesday, August 25th, 2020 and will close one lot every 30 seconds, with extended bidding in effect. Bidders must provide a valid credit card to register to bid online. 2. Payment by winning bidder will be processed immediately after the last lot is sold on August 25th with the credit card buyer submitted at registration, unless buyer has made alternate payment arrangements PRIOR to the end of the auction by contacting Auctioneer at 512-261-3838 or email: info@JonesSwenson.com). If credit card does not go through and buyer cannot be reached by cell phone within one hour, Auctioneer reserves the right to resell the items to the back-up bidder without notice. At the close of the auction, buyers will receive an "unpaid" invoice. Once credit cards are run, an email confirmation & paid invoice will be emailed to buyer confirming process of payment. BRING YOUR PAID RECEIPT WITH YOU TO PICK-UP YOUR PURCHASES. Payment can be made by VISA, MC, Discover, wire transfer, Bank ACH or by cash or cashier's check. Buyers should be available by cell phone (or other phone number provided at registration). Payment must be received by 2:00 PM CT August 26th, 2020 unless you plan to pay with cash or cashier's check. Payment by cash must be made at the auction site on Friday August 28th, 2020. A paid invoice will be required to remove purchases. No items may be removed until payment is made in full. 3. Buyer's Premium: A 15% Buyers' Premium will be added to each item purchased. 4. Texas Sales tax will be charged unless the buyer has provided a signed Sales Tax Resale Certificate or Exemption Certificate for this auction. Prospective buyers MUST fax or email their signed resale form prior to the end of the auction to (512) 261-9886 or info@JonesSwenson.com. NOTE: Texas Law requires the sales tax to be collected on the total price which includes the buyer's premium. 5. Removal: Friday August 28th & Saturday August 29th only, by appointment. If you cannot remove your purchases within this timeframe please do not bid. A forklift will be available to assist in loading light weight equipment. See each lots description to see if a rigger is required. AUCTIONEER DOES NOT OFFER SHIPPING. There is no dock or ramp on site, everything is ground level. Rigger Info: Gary Hass Rigging will be the only rigger onsite and will load equipment for a fee. His fees are listed in the catalog in the description of the respective lots. Please read the descriptions. Rigger will deliver for a separate fee, please contact him before the end of the auction at (972)345-8118 to discuss additional services and fees. Bring your paid receipt for removal. Anything remaining after removal time will be considered abandoned. The Auctioneer is not obligated to issue you a refund if you are unable to pick up and remove your items during the published removal times. 6. Everything is sold "As-Is": All items in the auction are being sold, "as is, where is" without warranties or guarantees of any type and with all faults. AUCTIONEER AND SELLER EXPRESSLY DISCLAIM AND EXCLUDE THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. Bidders should rely solely on their own inspection of all items prior to the sale and should satisfy themselves as to the usefulness and value of each item. Any statement in the description regarding the items to be sold should be considered a limited guide only. Any error in description does not relieve the buyer or his/her agent of their responsibilities to inspect. There are NO REFUNDS OR RETURNS. 7. Bidder's Duty to Inspect and Investigate: You acknowledge that the Auctioneer is providing you with the opportunity to inspect the items being offered for sale in this auction. The Auctioneer strongly encourages you to attend the scheduled inspection for this auction, which will take place on the date listed above. If you choose not to attend the scheduled inspection or are in doubt about the condition, completeness, or suitability of a given item, please bid accordingly. 8. Choose Wisely: We want everyone to get a good deal and most will. However, when you bid on the wrong item or decide an item is not suited for your intended use, our sellers will not assume the cost of your mistakes.You agree that your failure to inspect or otherwise become fully informed about the items offered for sale in this auction will not be grounds for a refusal to pay amounts due, nor for any claim against the Auctioneer. 9. Buyer is Responsible: Seller, Auctioneer and Buyer expressly agree that Buyer is responsible for and agrees to indemnify Seller, Auctioneer and their respective affiliates for any and all damages (whether based on contract, tort, warranty, negligence, strict liability or any other legal theory, and including special, incidental and consequential damages), losses, expenses, attorneys' fees, court costs, etc., that arise out of or result from the removal, possession or use of any items purchased at this auction, or any other claim regarding the use or possession of any asset purchased at this auction. 10. Charge backs Prohibited:Buyer agrees that they will accept all charges placed on the credit card associated with your account, and you agree that you will not charge back any amount that the Auctioneer charges to your credit card. You agree that this provision applies equally to amounts charged in connection with any items you have won and any buyer's premium or sales tax applicable. 11. Default and Resale: You agree that if, after being declared the winning bidder, you fail to pay for any item that you have won for any reason, your account will be declared in default. If you still fail to pay for any item after being notified of your account's being in default, you agree that the Auctioneer will have the right to immediately resell your item, and you further agree to pay (a) any cost associated with the resale and (b) any deficiency between your original purchase price and the resale price. 12. Disposal of Unclaimed Items: In the event you refuse to pay for or abandon any item that you win at auction, the Auctioneer will have the option of reselling, removing, storing, or disposing of the unpaid-for or abandoned item. You understand and agree that you will be personally responsible for all deficiencies - and all legal, collection, transportation, and storage expenses - associated with your delinquent account and/or abandoned items. In the event of resale, you agree to pay any cost associated with the resale as well as any deficiency between your original purchase price and the resale price. 13. Suspension of Bidding Privileges: You understand and agree that any violation of these Terms and Conditions - and/or any unsafe or illegal activity during any auction-related event - may result in the Auctioneer's suspending your online bidding privileges indefinitely. Nothing in this paragraph will limit the Auctioneer's right to any other remedies at law or in equity. 14. Internet Problems: Auctioneer and Seller are not responsible for any internet connection problems that may occur during the auction. Bidders should understand that sometimes internet connection or delay problems do occur. Auction lots will not be re-sold or brought back up for bidding because of internet problems. If you have issues with placing bids, please contact HiBid Customer Service directly (352) 414-1947. 15. Missing Items: In the event an item sold in the auction is found missing prior to removal, the Auctioneer/Seller will only be responsible for the refund of the purchase price, buyer's premium and any sales tax. Buyer agrees that the only compensation due them will be the refund of actual money paid. Buyer must get an acknowledgement from auction staff on site that something is missing prior to the start of loading for a refund to be considered. 16. Claims and Choice of Venue: Any claim or controversy arising out of or relating to these Terms and Conditions, or to any breach thereof, will be resolved exclusively by a state court having jurisdiction in Travis County, Texas, or in the Federal District Court for the Western District of Texas, where federal jurisdiction exists. Each party hereby submits to the jurisdiction and venue of such courts.You agree that all claims instituted by you will be litigated on an individual basis, and will not be consolidated with any claim made by another party. You agree that any judgments awarded may be applied to and collected from you personally or corporately. Should you file an action contrary to this paragraph, the defending parties may recover reasonable legal fees and costs. Further, if you bring a claim against the Auctioneer and do not prevail, and/or if the Auctioneer takes action against you as a result of your violation of these terms and conditions and is the prevailing party, you agree that you will reimburse the Auctioneer for all reasonable legal fees and costs including reasonable attorney's fees. 17. Changes to Terms: Seller and Auctioneer reserve the right to make changes to these terms & conditions at any time prior to the close of the auction with notice of any change being provided to the bidders via email (to the email address bidder provided at registration). If any change to the terms has been made, there will be a "Revised date" posted at the top of the Terms & Conditions page. 18. Governing Law & Venue: These Terms and Conditions will be governed by and construed under the laws of the State of Texas. 19. Entire Agreement: These Terms and Conditions contain our entire agreement and supersede any prior oral or written agreements relating to the same subject matter. For questions, please contact auction office: (972)387-1110 or Info@JonesSwenson.com

Machine Shop - Complete Liquidation- Benjamin's Machinery & Repair 131 Gay Street, Arlington, TX 76010 Online Auction Begins August 12 Lots Begin Closing August 25 at 9am The estate of James Benjamin has ordered the complete liquidation of his machine shop with no reserves.