5-18-2024 Collector Motor Series Auction Buyer's Guide - 1

May 18, 2024 Buyer’s Terms

DEFINITIONS: BID CALLER: LICENSED AUCTIONEER WHO IS ACTIVELY CALLING THE AUCTION ON ANY GIVEN LOT. BUYER: SUCCESSFUL BIDDER AT AUCTION BIDDER: A PERSON OR ENTITY BIDDING ON ANY LOT AT ANY AUCTION HOSTED BY AUCTIONEER OWNER/CONSIGNOR: PERSON/ENTITY THAT CONSIGNS A LOT FOR AUCTION. AUCTIONEER: J.A.H. ENTERPRISES, INC. AND HENDERSON MOTOR SERIES, LLC COLLECTIVELY DBA HENDERSON AUCTIONS AND ITS AFFILIATES, SUCCESSORS, EMPLOYEES, ASSIGNS, SHAREHOLDERS, DIRECTORS, AND OFFICERS. LOT: ANY ITEM OFFERED FOR SALE BY AUCTIONEER CLOSING: THE COMPLETION OF TRANSFER OF OWNERSHIP TITLE OF AUCTION ITEM FROM OWNER TO BUYER. 1. BIDDER agrees that his participation in this auction means that he has read and understood and will abide by the BIDDER’s terms, whether or not he has signed this agreement. 2. The BIDDER will be issued a BIDDER number for the purpose of auction participation. Invoicing and titling will match the information completed on the BIDDER’s registration. If the BIDDER’s number is lost, stolen, or misplaced, he remains liable for any bid, purchase, or action of anyone using his BIDDER number. 3. BIDDER consents to AUCTIONEER verifying BIDDER’s ability to pay, including credit check, bank reference, or by any other means. 4. This agreement shall be legally binding whether executed by electronic signature or initials or as a handwritten execution. 5. It is the responsibility of the BIDDER to thoroughly investigate and become familiar with the auction process, the suitability and condition of the assets in the auction “including age, mileage, hours, mechanical condition, legal use in any given jurisdiction, etc.” AUCTIONEER is not responsible for the accuracy of a LOT’s description whether given verbally or in writing in any medium. AUCTIONEER shall not be held responsible for advertising discrepancies or inaccuracies. 6. All LOTs are sold as is, where is, without warranty or guarantee, either expressed or implied, as to any LOTs usefulness, condition, genuineness, value, quality, merchantability, and/or fitness for use for any purpose. AUCTIONEER has not inspected or tested or verified the LOT and has no knowledge of the LOT’s history or condition. The BIDDER has the opportunity, the right, and the sole responsibility to inspect and verify any LOT prior to placing a bid. It is the responsibility of the BIDDER to research any restrictions on LOTs purchased and to obtain any necessary import/export licenses, titles, or any other required documents for shipping. Winning BIDDERs agree to accept and pay for in full any LOTs awarded by AUCTIONEER regardless of thoughts, condition, defects, or imperfections. Any claims regarding mileage or hours are offered as opinions by the consignor and shall not be deemed as accurate unless investigated and determined to be accurate by BIDDER. 7. BIDDER agrees to make no claim against AUCTIONEER for an improper, inadequate, or inaccurate LOT description. 8. All claims or disputes or legal actions by any party to this agreement must be filed in the Circuit Court of Livingston Parish, Louisiana, and all legal matters con templated in this agreement will be governed by the laws of the State of Louisiana and that jurisdiction. 9. The BIDDER has had the opportunity to consult legal counsel and irrevocably waives any right to a trial by jury in any proceeding relating to a dispute about this agreement or the Auction. 10. The OWNER/CONSIGNOR may place a reserve on any of his/her LOTs, which is the minimum hammer price the owner is prepared to accept. That reserve amount is kept confidential by the AUCTIONEER. 11. The AUCTIONEER has the right to execute bids on behalf of the OWNER/CONSIGNOR up to the amount of the reserve. 12. The BID CALLER has the sole discretion to determine the final high BIDDER, and can in his sole discretion open the bidding, close the bidding, exclude BIDDERs, recognize late BIDDERs, reopen closed bidding, and reopen bidding between tie BIDDERs. BIDDERs have the opportunity, where available, to bid in person, absentee, by proxy, by telephone, or through online bidding platform(s). Any notice of successful bidding or being outbid via online platform(s) or by any party other than the BID CALLER and Management for the AUCTIONEER does not constitute official notice. Official notice of award and whether or not a sale has taken place will only be given in the form of an invoice from the AUCTIONEER. AUCTIONEER has the right and sole discretion to amend or correct any invoice that is sent to a BIDDER. 13. AUCTIONEER’s internet bidding and telephone bidding features are offered where available and when available. AUCTIONEER does not guarantee that these features or services will operate correctly or without interruption. AUCTIONEER is not responsible for delays, inaccuracies, errors, omissions, or mistakes by the BIDDER’s use of these services or by the AUCTIONEER’s performance of these services. BIDDER agrees that AUCTIONEER is not liable for BIDDER’s inability to access these services nor liable for any loss or damage incurred by BIDDER by using these services. Where telephone bidding is available, BIDDER consents to allowing AUCTIONEER to record the call. 14. AUCTIONEER is not liable for damaged, stolen, or lost LOTs and BIDDER waives his right to claim damages against AUCTIONEER for any associated loss. 15. AUCTIONEER is not liable for matching number errors. 16. LOTs that fail to meet the reserve price will be offered for sale by the AUCTIONEER after the LOT is removed from the auction block. Any LOTs sold by AUCTIONEER are subject to the same terms as LOTs sold on the auction block. 17. Once a LOT is called sold by the BID CALLER, the high BIDDER accepts responsibility to pay for said LOT and assumes all responsibility and liability for the LOT as though the sale was complete. 18. BUYER agrees to pay for the LOT including BUYER’s premium, taxes, and fees immediately following the auction. 19. Unless arrangements acceptable to the Management for the AUCTIONEER have been made prior to the auction, BUYER agrees to allow the AUCTIONEER to charge to BUYER’s credit card on file a sum equal to 5% of the amount of the BUYER’s successful bid(s) immediately upon close of the auction. The remaining balance must be paid in accordance with the other terms and conditions of this agreement. If the BUYER fails to make timely payment of any outstanding balance, BUYER authorizes AUCTIONEER to charge up to any remaining balance, plus interest, late charges, credit card fees, and attorney fees incurred by AUCTIONEER for the collection of the unpaid balance to the BUYER’s credit card on file. If the BIDDER would like to make other payment arrangements prior to the auction and thus avoid charges to the credit card on file, AUCTIONEER will accept a Bank Letter of Guarantee or Cash on Deposit with the AUCTIONEER. BIDDER may contact our offices at least one week prior to the auction to make such arrangements. 20. AUCTIONEER will make every effort to deliver titles within 30 days of Auction. AUCTIONEER accepts no responsibility for delays outside its control. AUCTIONEER is not responsible for damages incurred by BUYER as a result of any title processing delay. Any unpaid balance owed by BUYER, not paid within three banking days from Auction Day, is subject to interest charges at a rate of the greater of 2% per month or the maximum rate allowed by law, prorated daily beginning from the calendar day following the auction. 21. AUCTIONEER has a right to the following remedies in the event BIDDER defaults, including nonpayment or any breach of this agreement: A. Purchase the LOT at the BIDDER’s bid amount. B. Resell the LOT at Absolute Auction or by private sale without notice to BIDDER and hold BIDDER liable for any deficiency in the resale price. E. Take legal action against BIDDER to seek specific performance or take any other legal action to protect the interest of the AUCTIONEER and CONSIGNOR. F. BIDDER agrees to be liable for any costs and expenses caused by the BIDDER’s default including but not limited to attorney’s fees, court costs, commissions, entry fees, Buyer’s Premiums, freight, storage, or any other expenses. This Agreement shall be binding upon and inure to the benefit of the parties and to their respective heirs, successors, and assigns. If you are the winning bidder, you give Henderson Auctions permission to charge your account 5% of the amount of your successful bid(s) immediately upon close of the auction, unless other arrangements have been made with the management of auctioneer prior to the auction. Additionally, you give Henderson Auctions permission to charge your card in the amount of up to any unpaid balance you fail to make by the payment deadline Auction. This is a private auction held by Henderson Auctions conducted at the Barber Vintage Motorsports Museum. C. Cancel the sale and retain BIDDERs deposit and/or payment as liquidated damages. D. Charge BIDDER’s credit card for any amounts due to AUCTIONEER and/or CONSIGNOR.