Lot # : 101 - Intersystems Conveyor Parts

TERMS AND CONDITIONS OF SALE Bryan's Auction Services Ltd. is conducting this auction on behalf of EuroSource LLC and is responsible only for conducting the auction, and collecting payments. EuroSource LLC will be responsible for the coordination, scheduling and conditions of decommissioning and removal. Subject to amendments and modifications announced by the Auctioneer at the time of the auction, all persons participating in the auction shall be bound by the following terms and conditions and as stated or otherwise set forth in the brochure and/or on the Auctioneer's website www.bryansauction.com. BUYERS PREMIUM: A 18% Buyers Premium will apply to On-line Bidders and Proxy Bidders at this sale. This sale will be conducted in CAD dollars (CAD). BIDDERS: Pre-Approval by the auctioneer will be required. Auctioneer reserves the right to request confirmation of financing, letter for credit, etc before establishing bidding limits. Bidders may be required to provide a deposit equal to 15% of their limit, plus the Buyer's Premium of 18% and must be made by Bank Wire Transfer. To ensure approval as a Bidder please make deposit arrangements as far in advance of the sale as possible. PROXY BIDS: If you are unable to attend this sale we can act on your behalf. Contact our office at 519-963-7861 or visit our web site for more information on how to place a proxy bid, our Proxy Bid Policy and deposit requirements. REMOVAL: Removal of items will be coordinated between the purchaser and EuroSource LLC. Bryan's Auction Services Ltd does not responsible for the coordinating of removal or pickup. Contact EuroSource LLC at 773-860-5142 for more information and removal deadlines. Complete removal requirements are outlined below. Absolutely NO items may be removed while the auction is in progress. GENERAL 1. In order to register and participate as a bidder, Bidders may be required to provide a minimum 10% deposit to establish their requested credit limit together with identification of either a valid Driver's License or Passport. 2. The Auctioneer reserves the right to refuse any applicant the privilege of bidding, participating or attending the auction and may revoke such privilege at any time. 3. Payment in full must be made within 48 hours after the conclusion of the auction by the way of bank wire transfer. Deposit payments or payments on account may be made in advance of the auction by way of bank wire transfer and any balance in excess of the balance owing will be refunded to the Bidder or Purchaser (as the case may be) after the auction. 4. Payments by way of Visa or Mastercard will ONLY be accepted for purchases and not for deposits, from Purchasers whose total invoice does not exceed $10,000. An Administration Fee may apply subject to the Auctioneer's discretion. 5. All applicable sales taxes arising on a sale shall be paid to the Auctioneer at the time of sale. 6. All Articles will be sold to the highest bidder conforming to the bid process, provided that the Auctioneer reserves the right to sell articles by individual, grouped lots and "in bulk", as the Auctioneer deems appropriate. The Auctioneer reserves the right to sell on behalf of third parties, its own account or on the account of others. Should any dispute arise between two or more bidders or as to any bid, the lot in question may, at the Auctioneer's discretion, be immediately put up again and resold. The Auctioneer shall regulate all matters relating to the conduct of the auction and the Auctioneer's decision shall be final and binding on all bidders. The records kept by the clerk of the sale, shall in all cases be accepted by the bidder as final. 7. The Auctioneer reserves the right to sell subject to reserve and to bid for its own account and for the account of others, whether by verbal or written proxy, all subject to prior sale. 8. All sales shall be concluded as indicated by the Auctioneer and no Purchaser may thereafter revoke their bid. Title to the lots purchased shall not pass until payment in full of the purchase price is received. 9. ALL SALES ARE FINAL, ON AN "AS IS WHERE IS", "IN PLACE" "WITH ALL FAULTS" BASIS WITH NO CONDITIONS OR WARRANTIES WHETHER EXPRESSED, IMPLIED, STATUTORY OR OTHERWISE, INCLUDING WITHOUT LIMITATION, WARRANTIES OR CONDITIONS AS TO TITLE, DESCRIPTION, FITNESS FOR PURPOSE, QUANTITY, QUALITY, MERCHANTABILITY, STATE, CONDITION, LOCATION OR OTHERWISE. NO SALE SHALL BE INVALIDATED AND THE AUCTIONEER SHALL HAVE NO LIABILITY FOR A MISDESCRIPTION OF ANY ARTICLE OR LOT WHETHER CONTAINED IN A CATALOGUE, ADVERTISEMENT, ORAL ANNOUNCEMENT OR OTHERWISE. DESCRIPTIONS HAVE BEEN PREPARED FOR GUIDE PURPOSES ONLY AND SHALL NOT BE RELIED UPON BY THE PURCHASER FOR ACCURACY OR COMPLETENESS. PLEASE INSPECT ALL ITEMS BEFORE BIDDING. PURCHASERS SHALL BE DEEMED TO HAVE RELIED ENTIRELY UPON THEIR OWN INSPECTIONS AND INVESTIGATIONS. 10. No article shall be removed unless paid for in full and all articles purchased shall be removed within the guidelines and terms stipulated. The Purchaser shall be responsible for all costs of removal and shall be liable for any damages, including without limitation, any environmental damage, caused during or as a result of the removal. Purchasers shall comply with all environmental laws and regulations and all requirements established by the Auctioneer for the removal of articles, including providing proper insurance and which Riggers may operate on site; please refer to the "REMOVAL REQUIREMENTS" below or on the inside back cover. 11. No Purchasers may assign, transfer or dispose of their rights in any article purchased before they have paid the purchase price in full. Notwithstanding, these terms and conditions shall continue to be in effect and automatically transferred to any assignee or transferee. 12. Where available, documents of transfer, including motor vehicle ownership documents, which are in possession of the Auctioneer, will be provided to the Purchaser following the auction or as soon thereafter as such documents become available. 13. The Auctioneer assumes no responsibility or any liability once title passes, which occurs at time of payment in full. Purchasers are advised to prearrange for insurance coverage of their purchase(s). 14. Time shall be of the essence. Title will revert to seller in the event Purchaser does not remove their purchase by the time specified. If a Purchaser fails to make payment or remove goods within the time periods herein above provided, the Auctioneer may resell the article purchased by auction, private contract or otherwise, as the Auctioneer in his discretion deems advisable. If the Auctioneer makes a good faith attempt to resell the article but cannot, he may dispose or scrap the article. 15. The Purchaser shall be liable for the shortfall and all costs and expenses incurred in such resale or scrapping, as described in paragraph These costs and expenses include, but are not limited to, attorney fees, court costs, law enforcement costs, moving and storage costs, and any other commissions incurred or fees assessed by the Auctioneer. Attorney fees and costs include, but are not limited to, such fees and costs incurred in the pursuit of a claim, judgment or a citation against the Purchaser(s) and/or any Guarantor(s). These terms and conditions together with any amendments or modifications expressly made by the Auctioneer at the time of the auction constitute all the terms and conditions with respect to the sale of articles at this auction. There are no representations, warranties, terms, conditions, undertakings or collateral agreements except as hereinabove provided. The Auctioneer reserves the right to put articles back up for auction if a deposit is not received at or before the time of sale. REMOVAL REQUIREMENTS The following are terms & conditions to abide by for all Purchasers, their employees, riggers, machinery movers, contractors and agents; (who will be further referred to as "Purchasers/Movers/Riggers"), who participate in the disconnection and/or removal of items purchased at auction. All invoices must be paid in full before commencement of removal. Check with Bryan's Auction Services Ltd.'s representative and Accounting Department if you have any questions regarding payment status. 1. Euro Source LLC has engaged Lakehead Iron Works as the preferred vendor for any rigging and removal requirements. Their pricing and terms can be viewed in Lot 1 of the auction catalogue. Purchasers may use their own Riggers provided they meet the required insurance and Workers Compensation requirements as set out by EuroSource LLC. 2. PURCHASERS/MOVERS/RIGGERS SHALL BE RESPONSIBLE FOR PROPER DISCONNECTION AND TERMINATION OF ALL ELECTRICAL, WATER AND/OR AIR LINES TO YOUR EQUIPMENT/ARTICLE AS STIPULATED BY EUROSOURCE LLC'S ON-SITE REPRESENTATIVE OR AS ANNOUNCED BY THE AUCTIONEER; THE SHEARING OF ANCHOR BOLTS FLUSH WITH THE FLOOR; LEAVING YOUR WORK AREA IN A BROOM SWEPT MANNER; THE ERECTING OF SAFETY BARRIERS ARE REQUIRED WHERE PITS OR HOLES HAVE BEEN CREATED AS A RESULT OF EQUIPMENT/ARTICLE REMOVAL; THE REMOVAL, OFF THE PREMISES, OF ALL HAZARDOUS WASTE OR OIL CONTAMINANTS CONTAINED WITHIN OR ON THE PURCHASED ASSETS AND IN CONJUNCTION WITH ALL ENVIRONMENTAL LAWS; ANY SPECIFIC TERMS OR CONDITIONS INDICATED BY THE AUCTIONEER AT THE TIME OF SALE. 3. Purchasers/Movers/Riggers are required to comply with all on-site health and safety protocols as dictated by EuroSource LLC and the on-site operating company. This includes, but is not limited to: PPE, hot work, fire watch, daily meeting, reporting, and compliance with provincial and national work-safety rules. 4. All GAS line terminations are to be disconnected by a licensed gas fitter and done in accordance with any federal, state/provincial or local codes. 5. All ELECTRICAL disconnects at entry point of machine/equipment, are to be done in accordance with any federal, state/provincial or local codes. 6. Riggers must quote their customers in writing and shall be liable for all costs in order to comply with the above. 7. Purchasers/Movers/Riggers must provide to EuroSource LLC, a certificate of insurance, adding EuroSource LLC and Louisiana Pacific Canada, Ltd. Address: 1910 West End Avenue, Suite 200, Nashville, TN 37203. as Additional insureds, but only with respect to the operations of the Named Insured (i.e., Purchasers/Movers/ Riggers) at the Named Auction and Named Location, of not less than $2,000,000.00 evidencing statutory workers' compensation (or state/ provincial clearance certificate if applicable), employer's liability insurance, automotive and comprehensive liability insurance coverage (bodily injury and property damage) per person and occurrence. 8. Purchasers/Movers/Riggers shall be held liable for all costs relating to damages and repairs to personal property and/or premises as a result of their negligence and/or their activities. 9. General hours of removal at the premises are Monday to Friday from 8 AM to 5 PM, unless otherwise specified. Anyone requiring access outside of these hours or beyond our published deadlines is subject to a non-negotiable per diem rate at Corporate Assets Inc.'s sole discretion. 10. NO EQUIPMENT/ARTICLE(S) SHALL LEAVE THE PREMISES UNTIL ALL THE AFOREMENTIONED HAVE BEEN COMPLETED TO THE SATISFACTION OF BRYAN'S AUCTION SERVICES LTD. AND EUROSOURCE LLC'S REPRESENTATIVE.