Dealer Auctions

I hereby grant to McGrew Equipment Company the right and authority to sell at auction the items listed on the attached Auction Order in the manner (absolute or reserve) indicated in the Auction Order. I understand and agree that these items will be auctioned through either an on-site auction or an internet sale. Should no bid be received for any items, the items will be returned to me at my expense for shipping I transportation. Should the high bidder fail to pay for such items within the time period allotted in the auction process, McGrew Equipment Company shall relist the items for a second auction under the same terms and conditions as the original auction. While items are listed for auction with McGrew Equipment Company, neither I nor anyone acting on my behalf shall bid or assist anyone else in the bidding thereon. Further, I understand and agree that I may remove items from the auction by notifying an official representative of the McGrew Equipment Company at least 48 hours prior to the starting time of the auction that the item is to be removed. The items removed are subject to a $500 per item Removal Fee and must be removed at my expense from the property before the auction begins. McGrew Equipment Company shall be responsible for setting up and managing the auction, and will exercise reasonable care of the items listed on the attached Auction Order. Given that reasonable care, in the case of physical damage or loss before the auction, I agree to indemnify and hold harmless McGrew Equipment Company and its related companies, as well as their owners, officers, members, managers, employees, and agents from any loss sustained, including court costs and attorneys’ fees in defending against and paying a claim resulting therefrom. The commission paid to McGrew Equipment Company shall be based on the total sale price of each item, with a minimum commission of $10.00, and no-sale fees of $100.00 will apply for each of the items not sold. All commissions shall be paid out of and upon payment of the selling price for the items sold. I understand and agree that I shall not be paid my portion of the sale price until the buyer has paid the full sale price and McGrew Equipment Company has been paid its commission. As a condition of this Agreement, I hereby represent and warrant that I am the absolute owner of the items to be auctioned, free and clear of all liens and encumbrances. There are no other persons or legal entities with an interest in said items to be sold, and same are not subject to any lease, security interest, agreement of sale, option agreement, or any other agreement or interest. In the event there is a lease or an obligation secured by said items to be auctioned, I hereby promise to immediately payoff said lease or obligation in full or to insure the release of said items from the lien, if any, of said obligation. In addition, I agree to pay all costs and expenses to payoff said obligation or secure the release of said items from any applicable lien. I agree to indemnify and hold McGrew Equipment Company harmless from liability for any such obligation secured by said items to be auctioned or any costs or expenses incurred to satisfy or release of the same. I represent and warrant that I have the absolute right to sell said items without securing the authorization or approval from any other person or legal entity. Should any of the aforesaid representations and warranties prove to be untrue or inaccurate, I agree to indemnify and hold harmless McGrew Equipment Company and its related companies, as well as their owners, officers, members, managers, employees, and agents from any loss sustained, including court costs and attorneys’ fees in defending against and paying a claim resulting therefrom. By signing below, I hereby agree to the terms set forth above and state that all of the representations and warranties are accurate and complete.