1stStrike Asset Management www.1stStrike.com

2014 Auction, Terms & Conditions

Operating Procedure: The Consignor provides 1stStrike Asset Management (1stStrike) with a list of items that they wish to sell. 1stStrike will inspect the property and verify inventory list information. Items will be online or at public sale, at a commission of _TBD_%.

Items will be arranged into lots structured to maximize return on investment. Material for sale will be itemized on a standard bid form with Lot information and will be made available to the public at the time of the sale. Bidders will be notified of sale events by advertisement in newspapers in the areas in which the sales are held, 1stStrike fax broadcast list, 1stStrike surplus dealer email broadcast list, and notifications posted on 1stStrike.com.

Use of consignor information in advertising:

The following information, at the consignor’s option, may be used or not used in advertising and posted on the pages of the 1stStrike.com site:    

a. Name of Consignor, b. Logotype of Consignor, c. Names, designations, registered names of products.  

Information about the products shall be posted on the 1stStrike.com site by 1stStrike.com team. When information about the Consignor’s products is placed on the 1stStrike.com site, the Consignor shall agree that this information shall be provided to any interested persons for their personal use if a separate agreement between the Consignor and 1stStrike.com does not stipulate otherwise. The Consignor agrees to the 1stStrike.com's use of these items in all applications, databases, forms, pages and other constituents of the 1stStrike.com site.

All material is sold "as is, where is", without warranty or guarantee of any kind. Title shall pass to buyer upon receipt, by auctioneer of the total purchase price. Risk of loss or damage shall pass to buyer on the day of sale. The consignor represents and warrants that all consigned assets to be sold are free and clear of any and all liens and encumbrances, that it has complied with all the necessary legal requirements as to the legal disposition and sale of said fixed assets to be sold, and it has been duly authorized by the appropriate creditors and/or stock holders and/or board of directors. The consignor indemnifies and holds 1stStrike harmless from any claims, damages, and expenses arising out of any failure or breach of the consignor’s representation and warranties. 1stStrike in its capacity as the exclusive agent, shall sell said fixed assets on Consignor’s behalf by public auction sale or private treaty, to the highest bidder. Items are consigned with no reserve. 1stStrike will provide a full and final accounting and settlement within 20 (twenty) days of sale date. Until possession and title of said fixed assets are transferred to the purchasers and loaded and removed from the premises, Consignor shall bear the risk of loss, damage, liability, or such other casualty of the fixed assets and shall maintain policies of insurance coverage in respect of the above, as well as third party liability insurance. Consignor warrants that the assets do not contain hazardous materials. Should said assets contain such materials which are subsequently spilled, discharged or otherwise on the premises during the shipping, placing and removal process then the Consignor shall indemnify 1stStrike and its purchasers and remedy same. In the event that any loss shall occur to 1stStrike or its purchasers by reason of any breach of the warranties or terms and conditions herein set forth, Consignor hereby indemnifies 1stStrike and all purchasers and agrees to save them harmless from any claims or damages and to make reimbursements to any of them for any loss or damage occasioned thereby. Consigned items cannot be removed prior to the auction date.

Agreement and Signature:
  Signature Date 1stStrike Representative Date