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REEDANNLAND COMPLETE Dispersal Sale

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REEDANNLAND COMPLETE Dispersal Sale REEDANNLAND COMPLETE dispersal sale THE MYSTERY WRITER 110960S MARCH 7 REEDANNLAND NORWALK, IOWA SATURDAY, MARCH 7 10 a.m. AUCTION ADDRESS 300 West Beardsley Norwalk, IA 50211 MAILING ADDRESS P. O. Box 616, Simpsonville, KY 40067 [email protected] (502) 802-6977 or (502) 802-6777 AUCTIONEERS Walt Robertson, Jim Price Peter Fenton, Announcer Phone bids must be arranged at least 24 hours in advance of sale. All consignments searchable at www.RobertsonEquineSales.com • TACK SALE Immediately following equine auction © 2020 ROBERTSON EQUINE SALES, LLC. ALL RIGHTS RESERVED. REPRODUCTION WITHOUT PRIOR WRITTEN CONSENT OF ROBERTSON EQUINE SALES, LLC IS PROHIBITED. ROBERTSON EQUINE SALES, LLC TERMS AND CONDITIONS OF THIS SALE -- IMPORTANT AND LEGALLY BINDING RULES APPLICABLE TO THIS SALE; PLEASE READ CAREFULLY AND COMPLETELY. 1. These Terms and Conditions Govern the Sale. This sale (the Sale or the Auction) is conducted by Robertson Equine Sales, LLC (RES) and the Sale is governed by these Terms and Conditions of Sale (the Terms and Conditions or the Terms or the Conditions) and by all announcements from the auctioneer’s stand (Announcements). The Sale will be conducted at the Reedannland Farm, Cumming, Iowa (the Facility). All sellers, prospective bidders, buyers, owners, consignors, agents, and all other interested parties and all sales are therefore bound by and subject to the provisions of the Terms and Conditions as set forth in this Sale Catalog (the Catalog) and the Announcements. 2. DISCLAIMER OF WARRANTIES. All prospective buyers are urged to carefully examine any horses in which they may be interested (either personally and/or by their agents, representatives or veterinarians) BEFORE bidding, because EXCEPT AS EXPRESSLY SET FORTH IN THESE TERMS AND CONDITIONS OR UNLESS OTHERWISE EXPRESSLY ANNOUNCED BY THE AUCTIONEER AT THE TIME OF SALE, THERE IS NO WARRANTY OR GUARANTY OF ANY KIND, EXPRESS OR IMPLIED, BY RES, SELLER (INCLUDING OWNER) OR CONSIGNOR WITH RESPECT TO THE HEALTH, PHYSICAL CONDITION, BREEDING SOUNDNESS, FERTILITY, SHOWING SOUNDNESS, CONDITION OR ANY OTHER MATTER REGARDING ANY HORSE OFFERED FOR SALE OR SOLD IN THIS SALE AND IN PAR- TICULAR, RES, SELLER (INCLUDING OWNER) AND CONSIGNOR MAKE NO EXPRESS OR IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, AND RES, SELLER (INCLUDING OWNER AND CONSIGNOR SPECIFICALLY DISCLAIM SAME. EXCEPT AS EXPRESSLY SET FORTH IN THESE TERMS AND CONDITIONS OR OTHERWISE EXPRESSLY ANNOUNCED BY THE AUCTIONEER AT THE TIME OF SALE, ALL HORSES SOLD IN THE SALE ARE SOLD ON AN AS IS, WHERE IS BASIS, WITH ALL FAULTS AND DEFECTS. 3. Catalog; Announcements; Reserves. (a) Catalog. The accuracy of all information contained in the Catalog pages and on the website www.RobertsonEquineSales.com is the sole and absolute responsibility of the seller of the applicable horse (the Consignor). Consignor has the affirmative duty to examine the website and each Catalog page on which any horses offered for sale by Consignor appear and report any inaccuracies and corrections to RES prior to the Sale. While RES may obtain some information set forth on the website and Catalog pages from third parties independent but on behalf of Consignor, it is nevertheless the sole and absolute responsibility of the Consignor to verify the accuracy of any such information and to notify RES of any inaccuracies and corrections prior to the Sale. Any engagements, pregnancy status and any and all other information listed on the website or in the Catalog are as represented by the Consignor. Consignor shall release, defend, indemnify and hold harmless RES and its owners, officers, directors, members, managers, employees, advisors, repre- sentatives, agents and employees (collectively, the RES Parties) from and against any claims, losses, damages, liabilities and expenses (including reasonable attorneys fees) (collectively, any Losses) incurred by Consignor by reason of any error or omission on the website or in any Catalog page. Buyer acknowledges that buyer’s sole remedy for any and all Losses buyer may incur by reason of any errors or omissions on the website or in any Catalog page shall be against Consignor and buyer shall release and hold harmless RES for any such Losses. (b) Announcements. Any Announcements Consignor desires the auctioneer to make, including, without limitation, any Announcements correcting any errors or omissions in the Catalog pages of any horses offered for sale at the Sale by Consignor, shall be made in accordance with this Section. In the event Consignor desires that RES make any Announcements, the Consignor or its authorized agent shall deliver written notice in form and substance satisfactory to RES to the RES Sale office setting forth the Announcement desired to be made not less than the further from the time of the sale of the applicable horse of (i) thirty (30) minutes before the sale of the applicable horse, or (ii) at least ten (10) hip numbers before the sale of the applicable horse. In the event any Announce- ments are received by RES after such deadline, RES will have the sole and absolute discretion to elect to make the Announcement, not make the Announcement or scratch the horse. In the event the Consignor desires to make an Announcement that does not correct an error or omission of the catalog page, RES reserves the right, in its sole discretion to elect to make the Announcement or not make the Announcement. Buyer acknowledges that Announcements made from the auction stand take precedence over information contained in the Catalog. Consignor and buyer agree to release, defend, indemnify and hold harmless the RES Parties from any Losses incurred by buyer, Consignor or any third party by reason of RES’s failure to make any Announcement, election not to make any Announcement or any incorrect Announcement made. (c) Reserves. The horses included herein are offered for sale according to the laws of the State of Iowa. In accordance with applicable laws, the right to bid in this Sale is reserved for all Consignors and sellers, including their disclosed and undisclosed agents, unless otherwise announced at time of sale. Buyers therefore acknowledge and agree that Consignors have the right to set reserves implemented by the auctioneer upon horses entered in the Sale which are not disclosed to buyers and also have the right to conduct by-bidding as related to their horses. In the event Consignor desires to set a reserve to be implemented by the auctioneer, the Consignor or its authorized agent shall deliver written notice in form and substance satisfactory to RES to the RES Sale office setting forth the amount of such reserve (which notice must expressly be accepted by a duly authorized representative of RES and a written receipt must be provided to Consignor in order to be binding) and such other information as RES may in its discretion require at least fifteen (15) hip numbers be- fore the sale of the horse. In the event any reserve notices are received by RES after such deadline, the auctioneer will not be obligated to implement the reserve. 4. Bidding. (a) Resolution of Bidding Disputes.The highest bidder of any horse is the buyer. RES reserves the right to reject any or all bids for any reason. In the event a dispute may arise between two (2) or more bidders for the purchase of a horse, RES shall adjudicate the dispute and its decision shall be absolute, final and binding upon all parties. The horse is sold at the fall of the hammer and any bids made or received after the fall of the hammer are not grounds for any dispute. In the event a dis- pute arises between two (2) or more acknowledged bidders the horse in dispute shall immediately be put up again for advanced bids. If there is no advance, then the horse shall be sold to the person from whom the auctioneer recognized the last bid. The reopening for advance bids shall be limited to the disputing parties, provided, however, in the event the recognized bid from any of the dis- puting parties be reduced below the bid at the commencement of the reopening for advance bids, then the bidding shall be reopened to all bidders and the final bid therefrom shall stand, regardless of whether such bid was less than the bid which was disputed. The final bid recognized at the con- clusion of any bidding shall be deemed the sale price and Consignor shall not be entitled to receive any amount in excess of the sale price. Consignor and buyer agree to release, defend, indemnify and hold harmless the RES Parties from any Losses incurred by Consignor, buyer or any third party resulting from the resolution of any bidding disputes or any decisions made by RES regarding the bidding or acceptance or rejection of any bids of any horse at the Sale. (b) Purchase Agreement. The successful bidder of each horse will be presented with a Purchase and Security Agreement (the Purchase Agreement) for signature. The Purchase Agreement, among other things, sets forth the purchase price for the horse, confirms the successful bidder is the purchase of the horse and grants RES and Consignor a security interest in the horse as collateral security for the payment of the purchase price as more fully described in Section 6 below. In the event the successful bidder fails or refuses to execute the Purchase Agreement for any reason, RES may elect, in its sole discretion, to re-offer the horse as soon as practical at the next available op- portunity, or withdraw the horse entirely from the sale. RES reserves the right to bring suit against such bidder for the hammer price, or any deficiency if resold and other damages, or may assign such right to Consignor, in which case RES shall have no further obligation with respect to the horse.
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