ONLINE AND LIVE AUCTION TERMS

PLEASE READ AND REVIEW THE TERMS THOROUGHLY PRIOR TO BIDDING

IF YOU HAVE NOT READ AND UNDERSTAND THESE TERMS PLEASE DO NOT BID

BY BIDDING ON THIS AUCTION, BUYER AGREES TO ALL TERMS AND CONDITIONS SET FORTH AND ENTERS INTO A CONTRACTUAL AGREEMENT TO PURCHASE THE ITEM(S) UNDER THE FOLLOWING TERMS AND CONDITIONS:

1. CATALOG: Pickens Auctions has put forth every effort in preparing the catalog for this auction to provide accurate descriptions of all items. All lots are sold AS-IS, WHERE-IS, with all faults, imperfections and errors of description. Due diligence is the responsibility of the bidder/buyer. Printed statements or descriptions by staff are provided in good faith and are matters of opinion.

2. PAYMENTS: All sales are final. All accounts must be settled at the conclusion of the auction. We accept Cash, Checks, Cashier/Bank Check, and Major Credit Cards . If paying by credit card, you will be charged for your purchases, plus a 3% Credit Card Fee and any applicable taxes. Credit card purchases are subject to card issuer/bank verification prior to payment and shipping. NOTHING will be charged to your card until a purchase is made.

3. DEFAULT OF BUYER: Successful bidder not paying for items within 3 days of the date of the auction will be considered in default. Such default by the Successful Bidder will result in that Bidders liability to both the Seller and Pickens Auctions. Seller shall have the right to (a) declare this contractual agreement cancelled and recover full damage for its breach, (b) to elect to affirm this contractual agreement and enforce its specific performance or (c) Seller can resell the items either publicly or privately with Pickens Auctions, Inc. and in such an event, the Buyer shall be liable for payment of any deficiency realized from the second sale plus all costs, including, but not limited to the holding/transporting/storage costs of the items, the expenses of both sales, legal and incidental damages of both the Seller and Pickens Auctions, Inc.

In addition, Pickens Auctions, Inc. also reserves the right to recover any damages separately from the breach of the Buyer. The purchaser agrees to pay all reasonable attorney fees and costs incurred by Pickens Auctions, Inc. in the collection of funds. The purchaser also agrees that a storage/handling fee of 2% per month be added to the balance of any unpaid balance due Pickens Auctions, Inc. and any other costs or losses incurred by the Buyers failure to adhere to these terms. Any debt collection or dispute proceedings will be litigated or arbitrated in Payne County, Oklahoma at the option of both the Seller and Pickens Auctions, Inc.

Both the Successful Bidder and Seller shall indemnify Pickens Auctions, Inc. for and hold harmless Pickens Auctions, Inc. from any costs, losses, liabilities, or expenses, including attorney fees resulting from Pickens Auctions, Inc. being named as a party to any legal action resulting from either Bidders or Sellers failure to fulfill any obligations and undertakings as set forth in this contractual agreement.

4. PICKUP: All purchased items should be picked up from the staging area within 7 days of close of auction. Buyer must contact Pickens Auctions staff to schedule a pickup time.

BIDDING AND REGISTRATION INFORMATION:

BIDDER VERIFICATION: Bidding rights are provisional, and if identity verification is questionable, Pickens Auctions has the right to reject the registration, and bidding activity will be terminated. Pickens Auctions reserves the right to preclude any person from bidding if there is any question as to the person's credentials, mental fitness, etc. Bidders agree to keep their username and password confidential as they are responsible for ANY and ALL activity involving their account. When using the web site you must obey any and all local state and federal laws. Violations will result in termination of web site use privileges.

MAXIMUM BID: When you bid your maximum bid, the current bid price does not automatically advance to your maximum bid. Another bidder has to bid to increase the current price and the computer will automatically bid up to your maximum in the increments specified.

AUCTION END TIMES: This is a live online auction. Bids are taken online and on site. Bidding ends when auctioneer declares the item sold.

TECHNICAL ISSUES: In the event there are technical difficulties related to the server, software, internet or any other online auction-related technologies, Pickens Auctions reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software, nor Pickens Auctions, Inc. shall be held responsible for a missed bid or the failure of the software to function properly for any reason.

CONDUCT OF THE AUCTION: Conduct of the auction and increments of bidding are at the direction and discretion of Pickens Auctions. Pickens Auctions reserves the right to reject any and all bids for any reason and also reserves the right to cancel this auction or remove any item or lot from this auction prior to the close of bidding. All decisions of Pickens Auctions are final. Your bid on this auction indicates both an understanding and an acceptance of the terms of this contractual agreement between yourself and both Pickens Auctions, Inc. and the Seller and that you, as the Bidder, are prepared to purchase items under these terms and conditions.

RANCH LIQUIDATION AUCTION