Lot # : 63 - New Century Arms BFT47 ( 7.62x39mm )

BIDDER’S TERMS OF SALE AND RULES OF THE AUCTION DIAMOND K ARMORY (“AUCTIONEER”) MAKES NO GUARANTEES OR WARRANTIES OF ANY NATURE WHATSOEVER, EXPRESSED OR IMPLIED, STATUTORY OR OTHERWISE AS TO (BUT WITHOUT LIMITATION TO) CONFORMITY TO ANY SAFETY, DESIGN OR POLLUTION STANDARD OR TO ANY OTHER STANDARD OR REQUIREMENT OF ANY APPLICABLE AUTHORITY, LAW OR REGULATION, FITNESS FOR ANY PARTICULAR PURPOSE, AND/OR MERCHANTABILITY OR PARTICULAR AGE, YEAR OR MANUFACTURE, MODEL, SERIAL OR OTHER NUMBERS, MAKE , CONDITION OR ALL COSTS AND PERFORMANCE OF ANY REPAIRS, INCLUDING BUT NOT LIMITED TO REPAIRS AND MODIFICATIONS NECESSARY, IF ANY, TO PROTECT FULLY THE OPERATOR OR ANY OTHER USERS OR BYSTANDERS AT ALL TIMES IN ACCORDANCE WITH PREVAILING FEDERAL, STATE, AND LOCAL CODES, AND INDUSTRY ACCEPTED STANDARDS. DO NOT BID UNLESS YOU HAVE DETERMINED THE CONDITION OF THE LOT FROM YOUR OWN EXAMINATION. PLEASE NOTE: All Bidders and others attending this auction agree that they have read and fully understand these terms and agree to be bound thereby. 1. Identification—All purchasers are required to have a Bidder Number to bid giving full name, address, and driver’s license. 2. Addition to or withdrawal or sale—The Auctioneer reserves the right to withdraw from sale any of the items listed or to sell at this auction item not listed and reserves the right to group one or more lots into one or more selling lots or to subdivide into two or more selling lots. Whenever the best interest of the seller will be served, the auctioneer reserves the right to sell all the items listed, in bulk. 3. Dispute between bidders—If any dispute arises between two or more bidders, the auctioneer may decide the same or may immediately put the lots up for sale again and resell to the highest bidder. The decision of the auctioneer shall be final and absolute. 4. Sale by estimated count, measure, or weight—Where items are to be sold by estimated count, measure, or weight, the purchaser will be billed for and required to pay for the estimated count, measure or weight. If, when delivered, any shortage exists, the purchaser will receive a refund at the rate of purchase. If there is an excess, the purchaser is required to take and pay for this excess, at the rate of purchase. 5. Reserve—The auctioneer reserves the right to reject any and all bids. On lots upon which there is a reserve, the auctioneer shall have the right to bid on behalf of the seller. At the request of the auction company, this auction permits bids to be placed by the auctioneer, an employee of the auctioneer, or the seller or an agent on the seller's behalf, even if such bids are placed solely for the purpose of increasing the bid. 6. Bidding by Auctioneer, Seller or Seller's Agents – Auctioneer permits sellers, seller’s agents, officers, directors, shareholders, employees, agents, and immediate family members to bid on any item. 7. Condition of items sold—The auctioneer shall not be responsible for the correct description, authenticity, genuineness of, or defect in any lot, and makes no warranty in connection therewith. No allowance will be made, or sale set aside on account of any incorrectness, error in cataloguing or any imperfection not noted. No deduction will be allowed on damaged articles as all goods being exposed for public exhibition are sold “as is” and without recourse. 8. Time of payment—All bills must be paid in full before leaving the premises on the day of sale. ONLINE BIDDER CREDIT CARDS WILL BE CHARGED IMMEDIATALY AFTER THE AUCTION CLOSES 9. Manner of payment—All bills must be paid to representatives of the auctioneer at the auction unless otherwise announced. The full purchase price on all lots sold to the buyer must be paid within the time fixed and before removal of any of the items. 10. Compliance with terms of sale—In default of payment of bills in full within the time herein specified, the auctioneer in addition to all other remedies allowed by law, may without further notice, and deficiency, together with all expenses and charged of re-sale, will be charged to the defaulting purchaser. 11. Additional terms and conditions—Any additional terms or conditions of sale, added by auctioneer, shall be announced prior to auction. 12. Removal—Removal shall be at the expense, liability, and risk of the purchaser. Purchases will be delivered only on presentation of paid bill. Auctioneer shall not be responsible for goods not removed within the time specified and shall have the option of removing and storing at the expense and risk of the purchaser any article purchased, but not for and removed within the specified time. 13. Non-delivery responsibility—Auctioneer shall not, in any event, be liable for non-delivery or for any other matter or thing, to any purchaser of any lot, other than for the return to the purchaser of the deposit or sum paid on said lot, should the purchaser be entitled to it. 14. Claims—No claims will be allowed after goods are removed from premises. 15. Personal and property risk—Persons attending during exhibition, sale or removal of goods assume all risks of damage of or loss to person and property and specifically release the Auctioneer from liability, therefore. Neither the Auctioneer nor his Principal shall be liable by reason of any defect in or condition of the premises on which the sale is held. Auctioneer is not responsible for accidents. 16. Records—The record of sale kept by the Auctioneer and bookkeeper will be taken as final in the event of any dispute. 17. Agency—The Auctioneer is acting as agent only and is not responsible for acts of its principals. 18. No sale shall be invalidated, and no liability shall be borne by the Auctioneer of seller due to any defect, error or inaccuracy of description of the lot either in the listing catalog, in any advertising, marketing or other printed material, or in any statement by Auctioneer or his agents, servants or employees. All such written material and statements are merely descriptive guides, and although they have been compiled from sources deemed reliable, neither Auctioneer nor seller guarantees or warrants their accuracy. All purchases made by Bidder shall be based solely upon Bidder’s personal inspection and/or opinion of the equipment, and Bidder hereby acknowledges that all items were available for inspection prior to the auction. 19. Bidder and Principal accept a lot at the time Bidder makes a successful bid, and immediately upon such acceptance, title to and all risks of loss and theft of the property pass to Bidder or Principal. Bidder or Principal is responsible to ensure purchases immediately and to remove all purchases from the auction site after the sale in accordance with the procedures announced of posted at the sale. Bidder or Principal is responsible to repair and restore any damage to real property or permanent improvements caused by removal of the goods purchased. Bidder or Principal shall bear all costs, responsibilities, and risk of such removal, including performance by hired truckers. Auctioneer reserves the right to require proof of adequate insurance coverage from any Bidder or Principal of lots requiring dismantling, rigging or hot cutting. Bidder or Principal agrees to indemnify and hold harmless the Auctioneer from any damage to property or injury to person, including Bidder’s or Principal’s Representatives, agents, or employees in connection with the dismantling or removal of any lot. In the event a Bidder or Principal fails to remove any lot within the time specified above, such lot, at the discretion of the Auctioneer and without notice, may be deemed to have been abandoned to the Auctioneer, and the Auctioneer, at his sole discretion, shall be liable for any rent incurred or damages sustained by Auctioneer due to Bidder’s or Principal’s failure to remove any lot when due. 20. Auctioneer reserves the right to resell any items not fully settled on the sale date. Such items may be resold without notice Bidder or Principal, and Bidder or Principal shall be responsible to Auctioneer and Seller for all expenses of any nature whatsoever relation to such resale and collection and for damages of any nature whatsoever to Auctioneer and/or Seller resulting from such resale. Such expenses and damages shall include, but shall not be limited to, commission of 12% and any deficiency arising between the amount of the initial sales price and the net amount brought upon such resale. Auctioneer may, at its sole option, elect to retain all monies deposited in part payment as liquidated damages and otherwise cancel Bidder’s or Principal’s contract of purchase. 21. Bidder acknowledges that an auction site can be a potentially dangerous place and immediately upon registration, if not before, shall so notify his agents, servants, employees, and others accompanying him. The auction site shall include any location where a lot is located for display and/or removal, as well as where the actual bid calling is conducted. Bidder agrees to indemnify and hold harmless Auctioneer and its respective officers, employees, servants, and representatives from and against any and all claims, losses, damages, injuries, liabilities, costs and expense of whatsoever kind or nature(including attorney’s fee and costs) for any injury or death to any person or person’s whomsoever, including Bidder’s or Principal’s own employees, or for damage to or loss or destruction of property occurring in, upon or about the auction site when such loss, damage or injury is occasioned, directly or indirectly, by the actions or omission of the Bidder, his agents, servants, or employees. This indemnity agreement extends to and includes any claim arising out of injury to Bidder’s own employees that Auctioneer was negligent in the performance of or failure to perform any inspection, maintenance, modification, or repair of the auction site, or that Auctioneer failed to warn of any dangerous condition at the auction site. 22. Bidder and/or Principal understand that as an Auctioneer of used equipment, Auctioneer does not assume any responsibility for the design, manufacture, and adequacy of warnings, current condition, or fitness of the equipment auctioned. The Bidder or Principal, therefore, is solely responsible to inspect all equipment to ensure it is in a condition where it can be safely used, to provide proper safety devices and equipment or means to meet all Governmental Safety Standards, and to notify all persons operating the equipment as to all attendant dangers. The Bidder or Principal hereby assumes these responsibilities and agrees to indemnify and hold the Auctioneer and Seller harmless from any future claim, loss, damage, injury, liability, cost, and expenses of whatsoever kind or nature( including attorney’s fees and costs) made by any person or persons whomsoever, including Bidder’s or Principal’s own employees, pertaining to: (1) Fitness or use of that asset as purchased; (2) Provision of proper safety devices or equipment; (3) Notification and warning of Bidder or Principal and his representatives, agents, employees, and other users or subsequent buyers, as to the dangers and risks attending operation of the equipment; and (4) The condition of the equipment. This indemnity agreement extends to and includes any claim that the equipment in question was or is defective or unreasonably dangerous or that seller or its agents were negligent in the sale of furnishing of the equipment. This indemnity agreement extends to and includes any claim that the equipment in question was or is defective or unreasonably dangerous or that seller or its agents were negligent in the sale or furnishing of the equipment, failure to inspect, performing or failing to perform any repair or modification, failure to warn, or any other claim of negligence. 23. The Bidder’s terms of sale and rules of the auction shall be governed by and interpreted pursuant to and under the laws of the State of Texas. Auctioneer and Bidders and/or Principals agree and consent that this agreement shall be performable in Hill County, Texas and that jurisdiction and venue of any lawsuit arising in any way form the auction or events occurring at the auction site shall be conferred upon the Courts of Hill County, Texas. 24. If you have an unresolved complaint, it should be directed to Texas Department of Licensing and Regulation; P.O. Box 12157, Austin, Texas 78711 (512)463-2906. 25. Sales Tax—I understand that I will be liable for payment of sales or use taxes which may become due for failure to comply with the provisions of the Tax Code: Limited Sales, Excise, and Use Tax Act; Municipal Sales and Use Tax Act; Sales and Use Taxes for Special Purpose Taxing authorities; County Sales and Use Tax Act; County Health Services Sales and Use Tax; The Texas Health and Safety Code; Special Provisions Relating to Hospital Districts, Emergency Services Districts, and Emergency Services Districts in counties with a population of 125,000 or less. I understand that is a criminal offence to give an exemption to the seller for taxable items that I know, at the time of purchase, will be used in a manner other than that expressed in this certificate and, depending on the amount of tax evaded, the offence may range from a Class C misdemeanor to a felony of the second degree. 26. As a firearms dealer, Diamond K Armory is required by law to transfer firearms and perform background checks. The buyer will be responsible for all fees including a $15 Minimum transfer fee. 27. All items must be removed from auction site in _7__ days or items will be resold. Diamond K Armory will not price protect a consignor’s merchandise. 28. There is a 10% buyer’s premium on all items. Carson Kaddatz, Diamond K Armory Auctioneer TX18030 535 HCR 4223 Hillsboro, Texas 76645 I ACKNOWLEDGE THAT I HAVE READ AND AM FAMILIAR WITH AND AGREE WITH TERMS AND CONDITIONS HEREIN