ID: 260 Alyeska Annual Surplus Auction June 2018 2018 ID: 260 Alyeska Annual Surplus Auction Friday June 15th, 2018 Open @ 9:00am 1096 Van Horn Rd, Alaska The total purchase price, together with all applicable taxes (which buyer will bear unless exempt therefrom) shall be paid by buyer no later than June 18th in the form of cash, cashier's check, money order, bank transfer, or credit card with a 4% fee. All cashier's checks shall be made payable to "1stStrike Asset Management". No material can be removed until payment is received in full for all lots purchased or good funds are verified by the Auctioneer. 1. All purchases must be paid in full by Monday June 18th, 2018 and no partial payments will be accepted. 2. Failure to remove all purchases by the end of the seven day load-out period ending on June 23, 2018 will be considered a material breach of agreement of sale, entitling 1stStrike to all rights provided by law or the attached terms and conditions of sale. 3. A non-refundable storage fee of $100 per day, per lot will be charged to the buyer for all remaining materials, beginning 12:01 am, June 24th, 2018. 1stStrike, without prejudice, will cancel all sales and reclaim title to any and all materials still remaining on their premises after 12:01 am, June 29th, 2018. Copyright © 1stStrike Asset Management. All rights reserved. 1 / 27 ID: 260 Alyeska Annual Surplus Auction June 2018 4. All buyers must report to the security guard at the entrance gate and present their original receipt prior to entering the surplus yard. 5. Original receipts must be presented before removing any material from 1stStrike property. No photo copies will be accepted! 6. If you make arrangements for a transport company or third party to remove your purchases from 1stStrike property, you must ensure they have the original receipt and notify 1stStrike of your intent and the identity of the company or person(s) with permission to remove your purchases or we will not be able to release your items to them. To avoid conflicts and disputes absolutely no exceptions will be made to this policy. 7. All loads must be secured for transport by the Buyer or the Buyer's Agent so that they meet all federal, state and local motor vehicle codes. In the interest of public safety, no unsafe loads will be released from the yard. This requirement is being made in cooperation with local Fairbanks and Alaska State Police. Copyright © 1stStrike Asset Management. All rights reserved. 2 / 27 ID: 260 Alyeska Annual Surplus Auction June 2018 This auction is primarily outcry, but you can bid on select lots online via ProxiBid Copyright © 1stStrike Asset Management. All rights reserved. 3 / 27 ID: 260 Alyeska Annual Surplus Auction June 2018 AUCTION SALE TERMS AND CONDITIONS AUCTION SALE TERMS AND CONDITIONS 1. 1stStrike Asset Management LLC, (hereinafter Auctioneer), is conducting this auction sale for Alyeska Pipeline Service Company (hereinafter Alyeska), acting as agent for and on behalf of the Owners of The Trans Alaska Pipeline System (hereinafter Owners). All auction sales made shall be governed by the terms and conditions set forth herein. 2. All material is sold "as is, where is", without warranty or guarantee of any kind. Material is defined as any lot, item, or any portion there of. Alyeska, Auctioneer, and Owners expressly disclaim all warranties including, without limitation, warranties of merchantability, quality, condition, age, model, year of manufacture, and fitness for any purpose, warranties as to patent infringement and warranties regarding the condition of the premises on which material is located. 3. Buyer, on behalf of themselves and their successors, assignees and vendees, hereby waives, releases and relinquishes all claims whatsoever against Alyeska, Owners, Auctioneers and their respective agents, servants, and independent contractors arising out of or relating to the material purchased, its condition, use, operation, transportation, or resale including, but not limited to, claims based on negligence, warranty, contract, or strict or absolute liability. The buyer shall examine the material for possible hazards and for compliance with applicable federal and state laws and regulations. If the material is hazardous or otherwise defective, the buyer shall correct such hazards and defects prior to use or resale. 4. Any description of material including but not limited to odometer, mileage and hour meter appearing in any brochure, catalog, inventory or other document provided to buyer by Alyeska or Auctioneer is believed to be correct. However, any such description and any statement, whether oral or written, made by any person concerning any item is not necessarily accurate and shall not be construed as a warranty, expressed or implied. Buyer's failure to inspect the material or to satisfy himself as to its condition, quantity, location, or the accuracy of the description will not constitute grounds for any claim for damages or adjustments or for cancellation of purchases. 5. The total purchase price, together with all applicable taxes (which buyer will bear unless exempt therefrom) shall be paid by buyer no later than June 18th in the form of cash, cashier's check, money order, bank transfer, or credit card with a 4% fee. All cashier's checks shall be made payable to "1stStrike Asset Management". No material can be removed until payment is received in full for all lots purchased or good funds are verified by the Auctioneer. 6. The Auctioneer shall designate the buyer after each lot item is auctioned. If a dispute arises between two or more bidders, the Auctioneer shall have the right to reopen the bidding at his discretion. His designation of a buyer shall be final. Copyright © 1stStrike Asset Management. All rights reserved. 4 / 27 ID: 260 Alyeska Annual Surplus Auction June 2018 7. Title shall pass to buyer upon receipt by Auctioneer of the total purchase price. Lost titles that require Auctioneer to acquire a new title will incur a non-negotiable $200 title processing service charge in addition to any associated DMV fees. 8. Risk of loss or damage shall pass to Buyer on the day of sale. Buyer shall be deemed to have inspected the premises and to be familiar with all conditions relative to removal of material. All material must be paid for in full by June 18th and removed from Alyeska's and Auctioneer's premises on or before 6/23/18. Removal time is of the essence. If the material is not paid for and removed by said dates, Alyeska or Auctioneer may, at their option, instead of or in addition to pursuing other remedies, cancel the sale, and/or store the material at a site of their choice and/or resell or otherwise dispose of the material in any manner they may choose. Proceeds of resale, if any, shall belong to Alyeska, Auctioneer, and Owners. All expenses of storage, resale, and disposal shall be borne by the buyer. In the event of such cancellation and resale, payments made by the buyer on account of the purchase price may be applied against expenses of storage and resale and against further damages sustained by Alyeska, Auctioneer, or Owners with any remaining sums not so applied being returned to the buyer. A non-refundable storage fee of $100 per day per lot will be charged to the buyer for any surplus materials remaining on Alyeska's or Auctioneer's premises after 06/23/18. Buyer agrees to hold Alyeska, Auctioneer, and Owners harmless from and against all loss or damages sustained as a result of buyer's failure to pay for or remove the material or for any other failure to perform his obligations hereunder. If title is relinquished as provided herein, Buyer hereby acknowledges title transfer to Alyeska, Auctioneer, or Owners and Buyer disclaims any further right to title or interest in the material. 9. The Auctioneer reserves the right to group lots, make lots smaller or to add or delete material at Auctioneer's sole discretion, as well as the right to offer individually and/or as a group. Auctioneer also reserves the right not to accept or acknowledge any bid which exceeds the previous bid by an amount less than the increase called for by the Auctioneer in the course of bidding. 10. Neither buyer's rights nor buyer's obligations shall be assigned in whole or in part without prior written approval of Alyeska. 11. Buyer agrees to pay and satisfy all claims for labor and materials employed or used by him in connection with or arising out of his purchase of auction lots, to permit no liens of any kind to be fixed upon or against Alyeska, Auctioneer's, or Owner's property by his laborers, mechanics, or suppliers and to indemnify, protect and save Alyeska, Auctioneer's, and Owners harmless from and against all such claims and liens. If any lien claim remains unsatisfied at the time delivery is to be made to buyer, Alyeska or Auctioneer may, at their discretion and without prejudice to any other rights or remedies, cancel the sale and/or retain possession of material until the lien has been discharged. 12. Buyer assumes all risks incident to being on the Owner's, Auctioneer's, or Alyeska's premises (whether owned or leased) and/or incident to this sale or the material sold. 13. Buyer agrees to defend, indemnify and save harmless Owners, Auctioneer, and Alyeska from and against any and Copyright © 1stStrike Asset Management. All rights reserved. 5 / 27 ID: 260 Alyeska Annual Surplus Auction June 2018 all claims, demands, actions, costs, expenses, judgments and liabilities of every kind arising out of or related to the material purchased, or the inspection, loading, removal, transportation, dismantling, destruction, handling, resale, operation or condition of same, or any defects in such material (whether or not such defects existed prior to buyer's purchase) regardless of whether any fault or negligence of Owners, Auctioneer, or Alyeska or their respective agents, employees, or representatives, is a contributing cause thereof.