BELOIT AUCTION – TERMS & CONDITIONS

Welcome to Beloit Auction!

All items in this auction are located at our corporate headquarters and auction facility at 615 E. Cranston Road, Beloit, WI.

The following Terms & Conditions apply to all bidders and purchases. By registering for and/or bidding in this auction, you acknowledge that you have read, understand, and agree to be bound by these Terms & Conditions, which form part of the Offer to Purchase.

Auction Preview, Closing & Pickup

Preview online or in person at our 615 E. Cranston Road, Beloit, WI building on:

• Saturday, September 26, 2026: 10:00 AM – 12:00 PM
• Wednesday, September 30, 2026: 1:00 PM – 4:00 PM
• Thursday, October 1, 2026: 10:00 AM – 4:00 PM

This auction starts to close at 7:07 PM on Thursday, October 1, 2026.

Pick up at our 615 E. Cranston Road, Beloit, WI building on:

• Friday, October 2, 2026: 10:00 AM – 4:00 PM
• Saturday, October 3, 2026: 10:00 AM – 12:00 PM

All purchases must be picked up by 12:00 PM on Saturday, October 3, 2026.

(1.) Bidder Registration

• You must register to bid.
• Auctioneer may establish registration requirements and bidder qualification criteria in Auctioneer's discretion.
• Bidders must provide identifying, contact, and financial information as requested.
• Auctioneer may refuse registration, require additional verification, limit bidding, revoke bidding privileges, or otherwise restrict participation in Auctioneer's discretion.
• Bidder qualification and registration provisions are intended for the benefit of Auctioneer and Seller only.
• Each registered bidder is assigned a unique bidder number.
• By placing a bid, Bidder acknowledges and agrees to these Terms & Conditions.
• All bids are irrevocable and binding.

(2.) Account Responsibility

• Bidders are responsible for maintaining the confidentiality and security of their username, password, bidder number, and account.
• Bidder is responsible for any and all bidding and other activity conducted through Bidder's account.
• Immediately notify Beloit Auction if you believe your account has been compromised.

(3.) Auctioneer's Discretion

• Auctioneer reserves the right to reject any bid, regulate bidding increments, determine the order of sale, resolve bidding disputes, reopen or re-offer any lot, and correct bidding or clerical errors.
• Auctioneer's electronic bidding records and records of communications shall be final and conclusive in the event of a dispute.
• Auctioneer's decision regarding bidding, lot closing, bidder qualification, or other auction matters shall be final.

(4.) Property Condition, Descriptions & Inspection

• All property is sold "AS IS," "WHERE IS," and "WITH ALL FAULTS."
• Neither Auctioneer nor Seller makes any representation or warranty, express or implied, regarding condition, quality, authenticity, completeness, age, quantity, merchantability, fitness for a particular purpose, non-infringement, or any other characteristic of the property.
• Photographs, videos, measurements, dimensions, counts, quantities, specifications, model numbers, descriptions, and other information are provided for identification and convenience only and are not warranties or representations.
• Bidders are responsible for inspecting property and independently verifying information material to their bidding decisions.
• Failure to inspect does not relieve Buyer of the obligation to complete the purchase.
• Buyers should not rely upon verbal statements made by Auctioneer, Seller, employees, or representatives.
• All sales are final. No refunds, returns, exchanges, or adjustments will be made.

(5.) Payment Terms

• Buyer's Fee: A 16% Buyer's Fee will be added to the final bid price, plus applicable sales tax.
• Card Payments: An additional 3.5% convenience fee applies to credit and debit card payments.
• Accepted Forms of Payment: Cash, wire transfer, Visa, MasterCard, Discover, American Express, and debit card.
• No checks accepted.
• Cash or wire transfer is required for all invoices of $800 or more.
• Invoices totaling $10,000 or more must be paid by wire transfer.
• Auctioneer may require cash or wire transfer for any transaction, regardless of amount, when reasonably necessary for fraud prevention or payment security.
• Payment instructions will be provided with the Buyer's invoice.
• All purchases must be paid in full before removal.
• Auctioneer may charge the card on file for unpaid invoices, fees, or other amounts due where permitted.
• The Buyer's Fee is non-refundable and is earned by Auctioneer as compensation for conducting the auction.

(6.) Pickup, Loading & Removal

• Pickup Location: 615 E. Cranston Road, Beloit, WI.
• Pickup Hours:
  • Friday, October 2, 2026: 10:00 AM – 4:00 PM
  • Saturday, October 3, 2026: 10:00 AM – 12:00 PM
• All purchases must be removed by 12:00 PM on Saturday, October 3, 2026.
• No removal is permitted outside the designated pickup periods without prior authorization from Auctioneer.
• All purchases must be paid in full before removal.
• Buyers must bring appropriate vehicles or trailers, tie-downs, and any boxes or packing materials needed for their purchases.
• Beloit Auction staff will provide forklift assistance for purchases requiring forklift loading.
• Buyer is responsible for ensuring that Buyer's vehicle or trailer is suitable for the size and weight of the purchase and for properly securing all purchases for transportation.
• Auctioneer may refuse or discontinue any loading activity that Auctioneer reasonably determines is unsafe or likely to cause injury or property damage.
• Buyers may not operate Beloit Auction-owned forklifts, pallet jacks, vehicles, machinery, or other equipment without express authorization.
• Buyer is responsible for damage caused by Buyer or anyone acting on Buyer's behalf to the building, doors, docks, pavement, grounds, equipment, merchandise, vehicles, or other property.
• Buyers may remove only property included in the lots they purchased. If there is a question regarding what is included with a lot, Buyer must obtain clarification from Auctioneer before removing the property.

(7.) Unclaimed & Abandoned Purchases

• Buyer remains responsible for timely payment and removal of all purchases.
• A $50 per-lot abandonment, removal, and handling fee may be charged for property that is unpaid, unclaimed, or not removed by the required deadline.
• Property remaining after the final removal deadline may be deemed abandoned and Buyer's rights to the property may be forfeited.
• Auctioneer may move, store, dispose of, donate, or resell abandoned property without refund or further notice to Buyer.
• Abandonment does not relieve Buyer of responsibility for the purchase price, Buyer's Fee, taxes, removal expenses, damages, or other amounts due.
• Failed or declined payments may result in suspension or termination of bidding privileges and a minimum $50 service charge.

(8.) Payment Disputes

• Buyer agrees to contact Beloit Auction promptly regarding any payment or transaction dispute and provide Auctioneer a reasonable opportunity to address the matter before initiating a payment dispute.
• Buyer remains responsible for all amounts legitimately due under these Terms & Conditions, together with permitted collection costs, attorney's fees, or other damages resulting from Buyer's default.

(9.) Default & Remedies

If Buyer fails to pay for or timely remove a purchase, breaches these Terms & Conditions, or otherwise defaults, Auctioneer may, in addition to other rights or remedies available:

• Charge amounts due to Buyer's payment method on file where permitted.
• Suspend or permanently revoke Buyer's bidding privileges.
• Retain, move, store, resell, or dispose of purchased property.
• Recover any deficiency resulting from resale.
• Recover reasonable storage, moving, disposal, resale, administrative, and collection expenses.
• Charge interest at 1.5% per month, or the maximum amount permitted by law, whichever is less.
• Pursue collection or legal action.
• Recover reasonable attorney's fees and collection costs to the extent permitted by law.

Auctioneer's remedies are cumulative, and the exercise of one remedy does not waive any other available remedy.

(10.) Communications

• By registering, Bidder consents to receiving transactional communications by email, text message, and/or telephone concerning registration, bidding, invoices, payment, pickup, shipping, and other auction-related matters.
• Bidder may also receive auction announcements and marketing communications and may unsubscribe from marketing emails using the unsubscribe link provided.
• 615 E. Cranston Road is Beloit Auction & Realty, Inc.'s corporate headquarters and an active business, warehouse, and auction facility.

• Visitors must remain in public or designated auction, preview, and pickup areas unless authorized by Beloit Auction staff.
• Offices, employee areas, storage areas, secured areas, and other portions of the facility may be restricted.
• All visitors must follow posted signs and reasonable instructions from Beloit Auction staff.
• Buyers and visitors may not move, open, alter, switch, remove parts from, or otherwise interfere with merchandise they did not purchase.
• Theft or unauthorized removal of property may be reported to law enforcement.
• Unsafe, abusive, threatening, disruptive, or fraudulent behavior will not be tolerated and may result in removal from the premises and suspension or termination of bidding privileges.
• Children must remain under the direct supervision of a responsible adult while on the premises.

(12.) Contract Formation & Buyer Responsibility

• At the close of bidding on each lot, the successful bid creates a legally binding purchase obligation.
• Successful Buyer is responsible for paying for and timely removing each purchased lot.
• Buyer is responsible for safeguarding purchases after taking possession.
• Auctioneer is not responsible for loss or damage occurring during Buyer's loading, removal, or transportation of purchased property.

(13.) Third-Party Pickup & Transportation

• Buyer may authorize another person, carrier, or transportation company to retrieve purchases on Buyer's behalf.
• Auctioneer may require reasonable identification, verification, or authorization before releasing purchases to someone other than the registered Buyer.
• Authorization of a third party does not relieve Buyer of Buyer's responsibilities under these Terms & Conditions.
• Buyer is responsible for the conduct of Buyer's employees, agents, contractors, carriers, and transporters while on Auctioneer's premises.

(14.) Auctioneer & Employee Bidding

• Beloit Auction owners, employees, representatives, and staff may bid on and purchase merchandise unless prohibited by applicable law or specifically stated otherwise for a particular auction.

(15.) Sales Tax & Exemptions

• Applicable sales tax will be collected unless Buyer has provided Beloit Auction with valid and properly completed exemption documentation acceptable under applicable law.
• Buyers claiming a sales tax exemption must provide Beloit Auction with a valid, properly completed Wisconsin Form S-211 or other exemption certificate acceptable to Beloit Auction and permitted by applicable law before the purchase can be treated as tax-exempt.
• No retroactive sales-tax refunds will be issued by Beloit Auction after completion of the transaction except where required by law.
• Buyer is responsible for determining and paying any use tax or other tax obligation applicable in Buyer's jurisdiction.

(16.) Right to Add, Combine, Modify or Withdraw Lots

• Auctioneer or Seller may add, delete, divide, combine, modify, or withdraw lots at any time before the applicable lot closes.
• Auctioneer may correct cataloging, clerical, bidding, or administrative errors when discovered.

(17.) Indemnification

Buyer agrees, to the fullest extent permitted by law, to indemnify and hold harmless Beloit Auction & Realty, Inc., Seller, and their respective owners, officers, employees, agents, and representatives from claims, losses, liabilities, damages, injuries, costs, and expenses arising from Buyer's inspection, possession, loading, removal, transportation, handling, resale, or use of purchased property, including acts or omissions of persons acting on Buyer's behalf, except to the extent otherwise provided by applicable law.

(18.) Force Majeure

• Auctioneer is not liable for delay, interruption, cancellation, or inability to perform caused by circumstances beyond Auctioneer's reasonable control, including severe weather, natural disaster, fire, flood, power outage, internet or telecommunications failure, equipment failure, labor disruption, governmental action, emergency, or similar event.
• Auctioneer may postpone, extend, suspend, or reschedule an auction, preview, or pickup when reasonably necessary.

(19.) Age & Legal Eligibility

• Bidders must be at least 18 years old to register and bid.
• Certain merchandise may be subject to additional age, identification, licensing, registration, background-check, transfer, or other legal requirements.
• Buyer is responsible for satisfying applicable legal requirements relating to the purchase, possession, transfer, transportation, or use of restricted merchandise.
• Auctioneer may refuse to release property when applicable legal requirements have not been satisfied.

(20.) Premises & Assumption of Risk

• Beloit Auction's facility is an active warehouse and auction environment. Visitors should remain alert to forklifts, vehicles, merchandise, loading activity, and other conditions normally associated with such a facility.
• Buyers and visitors are responsible for following posted safety requirements and reasonable instructions from Beloit Auction staff.
• Buyer assumes the risks associated with Buyer's own loading, removal, handling, and transportation activities.
• Buyer is responsible for injuries or property damage caused by Buyer or persons acting on Buyer's behalf.
• Nothing in these Terms authorizes Buyer to operate Auctioneer's equipment or enter restricted areas.

(21.) No Transfer of Buyer Responsibility

• The registered successful bidder remains responsible for the purchase, payment, and removal of each lot.
• Buyer may authorize another person to pick up or transport purchases, but doing so does not relieve the registered Buyer of responsibility to Auctioneer.

(22.) Staggered Closing

• This online auction uses a staggered closing, meaning multiple lots will close each minute in sequence.
• Lots will begin closing at the advertised auction closing time.
• For grouped, linked, or related lots, bidding activity on one lot may extend the closing time of other lots in that group when the bidding platform is configured to do so.

(23.) Soft Close

• If a bid is placed within the final 90 seconds of a lot's scheduled closing time, the closing time for that lot will be extended by 90 seconds.
• Additional bids received during an extension will continue to extend the closing time until the applicable period passes without another bid.

(24.) Technology & Online Bidding Disclaimer

• Auctioneer does not guarantee uninterrupted access to the bidding platform, website, mobile application, internet connection, email, text messaging, or other technology.
• Auctioneer is not responsible for missed bids, delayed bids, transmission delays, internet failures, device failures, software malfunctions, user error, or other technological problems beyond Auctioneer's reasonable control.
• In the event of a material technological, bidding, cataloging, or clerical error affecting the integrity or outcome of bidding, Auctioneer may extend or reopen bidding, re-offer an affected lot, reschedule closing, void an affected transaction when reasonably necessary, or take other appropriate corrective action.
• Auctioneer's decision regarding the administration of the auction shall be final.

(25.) Severability & No Waiver

• If any provision of these Terms & Conditions is determined to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.
• Auctioneer's failure to enforce any provision on one occasion does not waive Auctioneer's right to enforce that provision or any other provision in the future.

(26.) Governing Law & Venue

• These Terms & Conditions and all transactions arising from this auction are governed by the laws of the State of Wisconsin, without regard to conflict-of-law principles.
• To the extent permitted by law, venue for any dispute arising from this auction or transaction shall be in Rock County, Wisconsin.
• Auctioneer may recover reasonable attorney's fees, collection costs, and other recoverable expenses arising from Buyer's default or breach to the extent permitted by law.

(27.) Limitation of Liability

• To the fullest extent permitted by law, Auctioneer's liability to any bidder or Buyer arising from a disputed item or transaction shall not exceed the amount actually paid to Auctioneer for the specific item giving rise to the claim.
• Auctioneer shall not be liable for lost profits or incidental, indirect, special, or consequential damages arising from participation in the auction, use of the bidding platform, inspection, pickup, loading, transportation, or use of purchased property.
• Nothing in these Terms limits liability to the extent such limitation is prohibited by applicable law.

(28.) Entire Agreement

These Terms & Conditions, together with any auction-specific terms, lot-specific disclosures, announcements, invoices, and other written terms issued by Auctioneer, constitute the agreement governing participation in this auction. In the event of a conflict, auction-specific or lot-specific written terms shall control over these general Terms & Conditions.