Lot # : 1 - DRS Auction Open & Close Information

1. Reading these Terms & Conditions. Discount Retail Store, LLC encourages all new Customers as well as Customers familiar to HiBid to read and understand these Terms & Conditions. It is imperative for Customers to understand that by creating a HiBid Customer Profile and then participating in a Discount Retail Store Online-Only Auction, they are automatically agreeing to these Terms & Conditions. 2. Terms & Conditions. These Terms & Conditions (hereafter: TAC) constitute the entire agreement between a Customer and Discount Retail Store, LLC (hereafter: DRS). These TAC govern the use of all Discount Retail Store Online-Only Auctions (hereafter: Auction), superseding any prior agreements between a Customer and DRS. These TAC and the relationship between Customers and DRS shall be governed by the State of Utah laws without regard to its conflict of law provisions. Customers and DRS agree to submit to the personal and exclusive jurisdiction of the courts located in Salt Lake county, Utah. The failure of DRS to exercise or enforce any right or provision of the TAC shall not constitute a waiver of such right or provision. If any provision of the TAC is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties' intentions as reflected in the provision, and the other provisions of the TAC remain in full force and effect. The Customer agrees that regardless of any statute or law to the contrary, any claim or cause of action arising out of or related to Auctions or these TAC must be filed within one (1) year after such claim or cause of action arose or be forever barred. 3. Customer. A Customer is considered anyone who participates in a Discount Retail Store Online-Only Auction hosted on HiBid. Throughout these TAC a Customer is also referred to as a Bidder, and a Buyer. A Customer who is interested in bidding on Property (also referred to as Lots) being auctioned by DRS must first create a HiBid Customer Profile (hereafter: Profile) and register an active credit card. After a Profile is complete, a Customer can request to bid on Lots. Once approved, the Customer is now referred to as a Bidder. A Bidder's intention is to be the highest Bidder at the end of the Auction; and is therefore obligated to purchase the Lot. Now the Bidder is considered a Buyer, and is automatically charged the total amount of their Settlement. Making bids with false information or with stolen credit card information is prohibited and illegal. Each bid carries the computer coding of the Internet provider which allows the Customer information to be traced and DRS may at its discretion release this information to enable legal action to be taken. DRS may, in its entire discretion, refuse or remove bids where it suspects that bids contravene this prohibition. a. How to Register on Hibid: https://www.youtube.com/watch?v=4Ho4Hw8R5rw b. Follow on Social Media: https://www.facebook.com/bestdiscountretailstore 4. HiBid. HiBid is a web-based software service that DRS contracts with to host their Auctions. If expressions or procedures detailed in these TAC related to the use of HiBid are not understood, Customers are encouraged to review the free HiBid tutorial videos available in multiple locations online. It is the Customer's responsibility to understand their full obligations from the use of HiBid, regardless of their interpretation or understanding. a. HiBid instructional videos: https://hibid.com/blog/how-to-bid-on-hibid-auctions/ b. HiBid YouTube channel: https://www.youtube.com/@hibidauctions i. A "Help with Bidding" link is available to a Customer after their Profile has been created. On the main HiBid page, a Customer should select their name in the upper-left hand corner, and "Help with Bidding" will be listed in the drop-down menu. https://hibid.com/account/biddinghelp 5. Online-Only Auction. An Online-Only Auction is defined as the bidding and sale of Property online to the highest Bidder. Each Auction contains Lots for Customers to bid on, with the ultimate intent to win desired Lots and purchase the Property contained in said Lot(s). Each Auction has a definitive start and end date/time. Auctions are closed using the Staggering and Soft Close technique. 6. Property. Property refers to anything that is listed in an Auction to bid on. Throughout these TAC, Property is also referred to as Lots. Lots can be one item or multiple items, and are sold in accordance with these TAC which are accessible from each Lot's page. By placing a bid, a Customer is making a binding and irrevocable offer to purchase the Lot at any price up to the maximum bid amount the Customer submitted. If a Customer wins, they must complete the transaction, subject to any contractual right or other right-at-law to rescind the contract in certain circumstances. Failure to complete a transaction without a lawful reason is not only a breach of the Customer's contract with DRS, but also a breach of this Agreement. The amount a Customer bids can be increased but can never be decreased. DRS may, at their discretion, allow a Customer to withdraw and resubmit a bid in the case of bids containing an obvious typographical error. A Customer must forward a request to withdraw a bid and resubmit a correct bid by immediately sending a text to 801-980-6688 or emailing listening@discountretailstore.com. Keep in mind there is no guarantee that any bid will be withdrawn. Any such requests made on the day the Auction closes will not be accepted. 7. Property Photos. Typically we add one or more photos of the actual product, and then additional photos in the form of Stock photography. It is the duty of the Bidder to review all the photos and do a Lot Preview if there are questions or uncertainties. Stock photos are for representation only. 8. Property Disclaimer. DRS has obtained information about the Property from sources that have been deemed reliable. However, DRS makes no warranties as to the accuracy of, including total quantities of units, and/or all parts and pieces being included, and disclaim all liability for errors or omissions in, advertisements, brochures or other promotional statements and materials relating to the Property in each Lot. All the Property sold by DRS is in an "as-is" condition, and does not come with any manufacturer or otherwise indicated warranties. 9. RISK. THE KNOWN BENEFIT OF AUCTIONS IS THE PURCHASE OF PROPERTY FOR SUMS LOWER THAN STANDARD RETAIL PRICE. THE RISK ASSOCIATED WITH THIS BENEFIT IS INHERENT AND SHOULD BE KNOWN TO A CUSTOMER BEFORE BIDDING. SOME PROPERTY HAS A DAMAGED CONTAINER, OR IT DOES NOT COME IN ITS ORIGINAL PACKAGING. THE PROPERTY MAY BE CONSIDERED SCRATCH AND DENT, AND IT IS IMPOSSIBLE FOR DRS TO NOTE EVERY MARK. THE PROPERTY MAY NOT COME WITH EVERY PIECE, INCLUDING BUT NOT LIMITED TO THE POWER SUPPLY AND INSTRUCTIONS. IF A CUSTOMER WANTS A BRAND NEW ITEM, WITHOUT ANY RISK INVOLVED, DRS ENCOURAGES THEM TO PURCHASE THEIR DESIRED PROPERTY FROM A RETAILER FOR FULL PRICE. 10. Property (Lot) Preview. Bidders are encouraged to preview the Lots prior to bidding; although it is not necessary to bid. Bidders are required to send a text to 801-980-6688 or email listening@discountretailstore.com to make an appointment to preview items. DRS does offer video calls to make Lot preview easier, if and when time permits. Please allow DRS up to 24 hours to respond to all forms of communication. The business location of DRS is not open to the public. 11. Disclaimer of Warranties. Customer expressly understands and agrees that: a. Customers use of HiBid is at their sole risk. DRS does not own nor is affiliated in the operation or ownership of HiBid. HiBid is provided on an "as is" and "as available" basis. DRS expressly disclaims all warranties of any kind, whether express or implied, including, but not limited to the implied warranties of merchant-ability, fitness for a particular purpose, and non-infringement. b. DRS makes no warranty that: i. the Auctions or Auction software will meet your requirements, ii. the Auctions or Auction software will be uninterrupted, timely, secure, or error-free, iii. the results that may be obtained from the use of the Auctions or Auction software will be accurate or reliable, iv. the quality of any products, services, information, or other material purchased or obtained by you through the service will meet your expectations, and v. any errors in the software will be corrected. c. Any material downloaded or otherwise obtained through HiBid is done at Customer's sole discretion and risk; and therefore understands they are solely responsible for any damage to their computer system or loss of data that results from the download of any such material. d. No advice or information, whether oral or written, obtained by the Customer from DRS or through or from HiBid shall create any warranty not expressly stated in these TAC. 12. Buyer’s Premium. Each buyer pays a 15% buyer’s premium on top of their winning bid total. This is added to their total at the end of each Auction. It is calculated independently of the sales tax, which is 7.75% for Salt Lake County. Accordingly, it is the Bidder's responsibility to check the applicable taxes and duties that may be imposed on a Lot prior to bidding for it. 13. Settlement. At the end of an Auction, a Customer's total amount due is automatically calculated. The settlement includes the total amount due for each Lot the Customer won in the bidding process, as well as relevant sales tax and the 15% buyer's premium. The Customer's registered credit card is charged as soon as the settlement is finished, leaving only the task of Lot pickup during posted pick-up dates and times. a. e.g. If a Buyer's winning bids total is $100.00, then $15.00 would be added as the Buyer's Premium, and $7.75 would be added for the sales tax, making the grand total $122.75. 14. Payment. Credit cards are the main form of payment and are automatically charged at the end of every Auction. The credit card charged is the one associated with a Customer's HiBid profile. Alternative forms of payment include: Zelle, Cash, Cashier’s Check, or Money Order. Cashier’s Checks and Money Orders take one business day to clear the bank; because of this nuance Buyers cannot pick up their Lots until payment has cleared and DRS has confirmed the Lots are paid in full. If a Buyer wishes to use any of these mentioned forms of payment, Buyer is to notify DRS prior to the Auction close date. All debt must be paid within 48-hours of the Auction closing. If you are using an alternative form of payment, you can find DRS accounts with the following: a. Credit Card: All Buyers are required to enter a credit card when creating their Profile. This is the credit card that will be charged after the Auction is closed and all the Customer Settlements are complete. Buyer's may pay with a different credit card, as long as DRS is notified 24-hours prior to the Auction closing date/time. Requests need to be sent as a text to 801-980-6688 or emailing listening@discountretailstore.com. b. Zelle: Pay using the email operations@discountretailstore.com c. Venmo: @discountretailstore d. Cash: Pay at 4742 S 900 E, SLC UT 84117 during scheduled pick-up times. e. Cashier’s Checks and Money Orders: Pay at 4742 S 900 E, SLC UT 84117 during scheduled pickup times. Buyer must pick up items after the check or order clears, usually 1 business day later. Make out to "Discount Retail Store, LLC" and the Auction name goes in the memo. 15. Tax Exempt Buyers. A Buyer must provide their proof of sales tax exemption number or resale number to be tax exempt, PRIOR to bidding with DRS. This information needs to be emailed here: listening@discountretailstore.com. 16. Indemnification. Customer shall indemnify, defend and save harmless Discount Retail Store, LLC, their respective officers and employees, from and against any and all cost, expense, legal action, claims for property damage, personal injury, bodily injury or death, including reasonable attorneys’ fees and the cost of defense, arising or growing out of the Customer's purchase of Property (also referred to as Lots) and its performance of the Discount Retail Store Terms & Conditions, whether caused in whole or in part by the error, omission, misconduct and/or negligent acts of the Customer. Discount Retail Store is also not responsible for any personal injury or damage caused by any Lot, whether the Customer has purchased it or not. 17. LIMITATION OF LIABILITY. Customer expressly understands and agrees that DRS shall not be liable for any direct, indirect, incidental, special, consequential or exemplary damages, including but not limited to, damages for loss of profits, goodwill, use, data or other intangible losses (even if DRS has been advised of the possibility of such damages), resulting from: a. the use or the inability to use HiBid and/or Auction; b. the cost of procurement of substitute goods and services resulting from any goods, data, information or services purchased or obtained or messages received or transactions entered into through or from the use of HiBid and/or Auction; c. unauthorized access to or alteration of the Customer's transmissions or data; d. statements or conduct of any third party on HiBid or Auction; or e. any other matter relating to HiBid and/or Auction. 18. Exclusions and Limitations. Some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of liability for incidental or consequential damages. Accordingly, some of the above limitations of the previous two sections titled 'Disclaimer of Warranties' and 'Limitation of Liability' may not apply to certain Customers. 19. Bidding. By placing a bid, a Bidder is entering into a legally binding and enforceable contract which requires the Bidder to complete payment and removal of Property if they are the highest Bidder. A bid will not be reversed or deleted upon the completion of the bid process. 20. Maximum Bidding. In maximum bidding, the max bid amount a Customer places on a Lot represents the maximum amount that Customer is willing to pay for said Lot. The maximum bid number will be used to bid on the Bidder's behalf until the Bidder either wins the lot or until bidding has exceeded their maximum bid amount. a. e.g. Lucy (Customer) places a max bid on a Lot for $50.00, when the current bid is at $10.00. Throughout the next few days, other Bidders add bids to this Lot, in $1-$2 increments. At the close of auction, the high bid on the Lot equals $34.00. Because this is less than the maximum bid placed by Lucy, she wins the Lot and pay $34.00 for the Property. b. e.g. Alternatively, Jacob (Customer) places a max bid on a Lot for $30.00, when the current bid is at $5.00. Throughout the next few days, other Bidders add bids to this Lot, in $1-$2 increments. At the close of auction, the high bid on the Lot equals $32.00. Because this is more than the maximum bid placed by Jacob, he does not win the Lot. However, because there was a max bid on the Lot for $30.00, other Bidders had to keep bidding on the Lot until it exceeded the max bid that Jacob had placed on it. 21. Reserve. A Reserve is an amount placed on a Lot prior to an Auction going live. This is the minimum bid amount that the Lot will sell for. This prevents a Bidder from winning any given Lot for a price lower than what DRS wants. Reserves protect the business or client from an unfavorable outcome and ensures the high-value item is not sold for below its worth. A Lot will show if it has a Reserve, whether or not the Reserve has been reached when bids are made; but not necessarily tell you what the reserve is. 22. Times the Money. This bidding technique is sometimes used when a Lot has numerous quantities of the same item or similar item(s). Times the Money bidding requires a Bidder to bid per piece in the Lot versus the entire Lot. When a Lot has Times the Money bidding enabled it will clearly be labeled. DRS may reach out to Bidders to ensure they understand this concept from time to time. Bidders are however obligated to understand this concept when bidding. a. e.g. There are 10 folding chairs in a Lot. They are valued at $30.00 each. If a Bidder puts $5.00 in for the bid, that means they are bidding a total of $50 ($5 x qty of 10). 23. Winning Bids. The winning bid in an Auction will be the highest bid that exceeds any max bids or reserves (if a reserve exists). In the case of equal bids, the earliest bid received will be the winning bid. If a higher bid is subsequently withdrawn or removed, then DRS shall have the right to accept the next highest bid. All successful Bidders are responsible for paying their Settlement total which includes the Buyer's Premium and Utah state taxes. 24. Staggering Close: The Auctions use a Staggering and Soft Close technique. When the clock strikes closing time, the first Lot listed begins a 3-minute countdown and the remaining Lots begin their countdown 60-seconds apart. a. e.g. If the Auction ends at 7:00 pm, the first Lot will begin its 3-minute countdown at 7:00 pm, then the second Lot begins its 3-minute countdown at 7:01, the third Lot begins its 3-minute countdown at 7:02, and so on. This process is to help Bidders keep track of their bids without feeling overwhelmed. 25. Soft Close. To keep the bidding process fair, and to prevent "sniping", HiBid uses the Soft Close technique. This means that if a bid is placed on a Lot within the last minute of it closing, the bidding for that Lot will automatically be extended by another two minutes. This gives other Bidders time to raise their bid before the Lot closes. a. e.g. A Lot has started its 3-minute countdown with a bid of $20.00. A competing Bidder submits a bid for $25.00 when the Lot has 30-seconds remaining. The total countdown time for that Lot then resets to 2-minutes and 30-seconds (2.5 minutes). This prevents Bidders from trying to sneak a higher bid in at the last-minute disallowing other Bidders to fairly compete for a Lot. 26. Standard Property Removal. With a Paid Settlement, Buyers are allowed to begin the removal of their Lots. The Standard Property Removal process is for a Buyer to pick up their winning Lots during the posted pick-up days/times. If the Buyer is unable to come then they need to contact DRS to make other arrangements. If Buyer fails to remove Auction Lots by the defined deadline, and they have not contacted DRS, they reserve the right to otherwise dispose of the Buyer's Lots and accordingly, there will be no refund made available to Buyer. 27. Alternative Property Removal. DRS understands that flexibility is required in today's economy and offers alternative Property Removal options. It is the Buyer's sole responsibility to make DRS aware of their Property Removal plans if it deviates from the standard method. As much advanced notice is preferred, but at minimum a Buyer needs to contact DRS within 24-hours after the Auction closes to request shipping or delivery. DRS can be reached by sending a text to 801-980-6688 or emailing listening@discountretailstore.com. a. Alternative Individual. Buyers can have a different individual pick up their Lots. Buyers need to notify DRS and supply them with the individuals name and phone number. This individual is still obligated to the posted pick-up days/times. b. Shipping Property. As long as the Lots allowed for shipping, the Buyer can request DRS to mail their Property. The Buyer pays a 10% Handling fee (this is calculated from the Settlement total), and the total Shipping cost. DRS does not charge additional shipping fees, the Buyer pays the same shipping rate that DRS pays. A Shipping & Handling Invoice will be emailed to the Buyer prior to the Lots being shipped. The Buyer must pay this before Lots are sent in the mail. If the Buyer wants additional insurance or other shipping amenities (like faster shipping service, certified mail, etc.) the Buyer needs to relay this to DRS. c. Delivering Property. A local Buyer can have their Lots delivered upon request. Buyers still pay a 10% Handling fee for DRS to prepare the Property for delivery. DRS uses various companies such as Lyft, Uber, and local couriers. d. 3rd Party Company. Buyers are allowed to arrange their own shipping or delivery. DRS still charges a 10% Handling fee. Buyers need to relay to DRS who they are using for shipping, and their contact information so DRS can arrange a time for them to gather the Lots in question. 28. Property Returns/Exchanges. DRS reminds Customers that any and all Property sold by DRS is in an "as-is" condition, and does not come with any manufacturer or otherwise indicated warranties. However, at the sole discretion of DRS, a Customer may submit a request to DRS for a monetary credit to their account or a request for Property Exchange (when identical or similar Property is available to do so) within 48-hours of Lot pickup. The only cause for such a request is if the Lot purchased is broken and unusable, but was not advertised as such. This does not include Property with missing parts as those can be replaced. DRS is not obligated to abide by such requests, refer to "Property Disclaimer"; however DRS will do what it can to keep the Customer satisfied with their business between themselves and DRS. If DRS agrees with the Customer's interpretation of the Property's condition, they will only receive a credit to their account which can be used for future Auctions, or an equal/similar exchange of Property when it is available. 29. Firearms. DRS is not a licensed FFL Dealer at this time, nor are there plans to become licensed in the future. 30. Privacy. DRS sells products and services, they do not sell or rent Customer information to third parties without explicit consent. Customer information is used by DRS to relay information relevant to Auctions and other business solely for the purpose of selling Property. 31. Copyright. All material and content as provided by DRS is protected by copyright and similar rights. Customers cannot use or make available any of that material for any commercial or personal purpose. DRS owns the property that is available to bid on in their respective Auctions, and is able to resell these Lots per the 17 U.S.C.A. 109. Limitations on exclusive rights: Effect of transfer of particular copy or phonorecord. 32. Notifications: DRS will occasionally send Customers mass-notifications for various business-related events such as: 1) any news relevant to an Auction, 2) a sale of Property not in an Auction format is coming/underway, 3) free product(s) are being offered, 4) loyalty points related, 5) business hours/location has changed, and/or 5) other important information about DRS. In some cases, a direct mailer is sent. Customers can opt-out of emails and SMS texts using the provided links in the message(s). If a Customer does not wish to receive mailers, they need to email listening@discountretailstore.com. Certain communications are necessary and cannot be opted out of, such as: 1) Auction related matters the Customer is involved in, 2) billing notifications, 3) product recalls, 4) DRS business changes relevant to Property sold to Customer, and/or other important subject matters. 33. Modification of Terms. At their sole discretion, DRS may postpone or cancel an Auction. DRS may also modify the TAC of an individual Auction or their overall Auction process based on circumstances and their business judgment. On some occasions Auctions are extended so estate owners and business owners can add more Lots. An Auction’s duration will never, however, be shortened in length. All registered Bidders will receive a notification of any and all changes via email and/or text message at the end of the business day that the change occurred. If a Customer has opted out of receiving emails and/or text messages then these important messages may be missed.