Auction Terms & Conditions ONLINE AUCTION TERMS AND CONDITION Pickup Location: Sherman Oaks Galleria Complex 15301 Ventura Blvd., Building D, Suite 210 Sherman Oaks, California Bidder/Buyer and Auctioneer agree that the terms listed below shall govern the IMAGI STUDIOS USA et. al, online auction sale. This auction will be conducted within the framework of the rules listed below plus other provision that may be added by the Auctioneer via email or as posted on www.btesto.com. All registration information the Bidder provides to Auctioneer shall be current, complete and accurate. Bidders must be 18 years of age or older. Bidder agrees to not use any device, software or routine to interfere or attempt to interfere with the proper working of or any transaction being conducted on and during the auction sale. BY ACCESSING THIS SITE, YOU AGREE TO ACCEPT WITHOUT LIMITATION OR QUALIFICATIONS, ALL OF THE TERMS AND CONDITIONS AS FURTHER OUTLINED BELOW: INSPECTION & REGISTRATION 1. INSPECTION: Bidders will have an opportunity to make inspections of the items for sale, Monday March 29 and Tuesday March 30 between the hours of 9am to 4pm. There will also be opportunities to inspect the purchased equipment during the checkout and must be completed prior to removing the assets from the facility. 2. ABSOLUTELY NO BAGS, PARCELS, PURSES, BRIEFCASES OR PACKAGES OF ANY KIND WILL BE ALLOWED INTO THE IMAGI STUDIOS FACILTY. NO EXCEPTIONS. Potential bidders will not be granted access to inspection area with any type of bag or purse. 3. DEPOSIT: Upon registration Bidder is required to provide a credit card that a $750 refundable deposit may be placed to secure all bids, until full payment is received. This allows us to more accurately identify online Bidders and avoid the possibility of factices bids. In the event the purchaser fails to pay for the entire purchase within the time set forth by the auctioneer, and/or fails to comply with any of the conditions or terms of sale, the seller may retain and/or recover any monies paid as part of its damages. Bidders expressly authorize the Auctioneer to use their credit card to satisfy the deposit requirements and defaults as further described below. AUCTION: 4. Auction Fee: 15% Buyer’s premium, added above bid amount. 5. Bidding minimum increments are as follows: $ 0 - $300 ($10.00 Increments) $301 - $1,000 ($25.00 Increments) $1,001 - $5,000 ($50.00 Increments) $5,001 - $10,000 ($100.00 Increments) $10,001 and up $250.00 6. By placing a bid on an item sold at our online auction, the Bidder agrees to pay the bid amount, plus 15% buyer’s premium and sale 9.75% sales tax. 7. Everything is sold "AS-IS" and "WHERE-IS" except as expressly made in writing. All sales are final. No warranties are made as to the merchantability of any items or their fitness for any purpose. 8. Bidder may not retract bids, once accepted. 9. All Sales are final. 10. Absolutely No Refunds, Returns or Exchanges. 11. Invoices: will be emailed to successful Bidders within 8 hours of close of auction. 12. Full payment is due no later than (2) business days after the close of auction, on or before 5 pm Monday April 5, 2010. Bidders who fail to make payment on time will forfeit deposit and will be held liable for any and all damages. 13. Acceptable Payment Methods include 1. Cash (All cash transactions must take place at the inspection/pickup - Sherman Oaks Galleria Complex 15301 Ventura Blvd., Building D, Suite 210 Sherman Oaks, CA,) 2. Wire Transfer (available upon request) 3. Cashiers Check (Made payable to Brain Testo Associates, LLC) , NOTE: Any Buyer presenting a cashier check must also provide business card of bank contact for verification purposes. 14. NO credit cards or checks will be accepted. 15. Sales Tax Rate: 9.75%. All sales are subject to appropriate state sales tax. Buyer may be exempt if Buyer holds a valid resale certificate. NOTE: It is the Bidder/reseller’s responsibility to provide a completed resale certificate form (available upon request) at registration. 16. The condition of the merchandise being offered varies. The Buyer understands and agrees: (1) that any description or sample of the merchandise given or furnished by the Auctioneer is derived from records, documents or other information that may be unverified as to accuracy, and is solely for identification, and does not create any warranty, expressed or implied, that the merchandise actually conforms to such description or sample; (2) that all merchandise is purchased and accepted by Buyer "AS IS" "WHERE IS" and "WITH ALL FAULTS." AUCTIONEER MAKES NO WARRANTIES OR GUARANTEES WHATSOEVER WHETHER WRITTEN, ORAL OR IMPLIED AS TO QUALITY, QUANTITY, CONDITION, USEABILITY, SALEABILITY, WEIGHT, MEASUREMENT, YEAR, MODEL, MECHANICAL CONDITION, PASSWORDS, PERFORMANCE, OR OTHER SPECIFICATIONS. MANUFACTURERS WARRANTIES MAY BE IN EFFECT. 17. Assets are intended to be sold without software, if any is applicable. In the event that a Seller’s software is included in an asset sales, notwithstanding the disclaimers set forth above, Auctioneer makes no representations or warranties regarding the Buyer’s right to use such software, as to the performance of the software, its non-infringement or otherwise. In such circumstances the Auctioneer recommends that Buyer contact the software manufacturer directly to resolve any such issues. CHECKOUT /PICKUP: 18. Check out hours: 9am to 4 pm Monday thru Friday beginning Friday April 2nd and ending Friday April 9th, 2010. 19. Appointments are necessary for any Buyer requiring the use of the loading docks. All others may walk-in during check out hours. 20. Buyers must sign in upon arrival to check out desk and remain in lobby area until an escort is available. Expect delays and plan your time accordingly. At no time, will anyone be allowed into the secured areas, without escort. 21. Buyer will have opportunity to boot up all computers to verify condition, prior to leaving the building. All sales are final, once the item has left the building. 22. It is the Buyer's sole responsibility to for the removal and shipping of all purchases. 23. The Buyer must supply all of their own handling equipment and personnel. 24. The Buyer and all persons in attendance during inspection and checkout/removal period shall assume all responsibility for the removal of any item purchased at the sale. 25. The Buyer assumes any and all risks of damage or loss to persons, property or merchandise associated with removal including, without limitations, full financial responsibility for any damage or liability to persons or property resulting from any negligent act of omission of Buyer or any Buyer’s employees, agents and/or representatives during inspection, pick-up and removal. 26. The Buyer and any Buyer’s employees, agents and/or representatives in attendance during inspection and or checkout/removal shall exercise proper precautions at all times for the protection of persons and property and shall comply with all safety and health in requirements as provided by local, state and federal regulations and as directed by Auctioneer. 27. Buyer must repair, at his/her own cost any damage that occurs due to the fault of Buyer or any of the Buyer’s employees, agents and/or representatives during inspection, checkout and removal. 28. It is the Buyer's responsibility to secure all safety equipment to meet all applicable government safety standards in using or removing items purchased. 29. Shipping may be arranged at additional cost to Buyers. (see shipper contact information at end of terms) 30. Bidder/Buyer does hereby indemnify and hold harmless the auctioneer and seller from any and all damages, claims or liabilities from injuries to persons or property of any type whatsoever caused during the inspection, checkout, or by the removal or shipping of items purchased. 31. Buyer agrees to indemnify, defend and hold harmless Auctioneer and its agents and representatives, from any and all demands, claims, losses, damages and liabilities asserted against, resulting to or imposed upon Auctioneer resulting from the negligence of buyer or his/her employees, agents and representatives, while in, at or about the auction premises during the inspection, sale or removal of merchandise. 32. In no event will Auctioneer’s liability to Buyer exceed the purchase price actually paid. A Buyer’s claim shall be limited to the amount paid for the merchandise, and shall not extend to any obligation; risk; liability; right; claim; remedy for loss of use, revenue or profit; liability of Buyer to any third party; personal injury; or any other direct; indirect, incidental or consequential damages. 33. In the event the purchaser fails to pay for the entire purchase within the time set forth by the auctioneer, and/or fails to comply with any of the conditions or terms of sale, the seller may retain and/or recover any monies paid as part of its damages and, in addition thereto, items that are not paid for can be resold at public or private sale without further notice. Any deficiency resulting from such resale shall be due to the auctioneer by the defaulting purchaser together with all charges, fees, and expenses including reasonable attorney fees incurred by such resale and enforcement of the obligation hereunder. 34. No item can, on any account, be removed or shipped prior to full payment. 35. Removal shall be at the expense, risk, and liability of the buyer. 36. Auctioneers shall not be responsible for items not removed within the time allowed when applicable. 37. If items are not removed within the specified removal time, the purchaser shall be liable for any moving and/or storage costs incurred and, if not so removed, the items shall be deemed abandoned and sold. SHIPPER INFORMATION Craters & Freighters 818-244-4099 Newport Pack & Crate 714-263-0833 --------------------------------------------- ------------------------------------------ Terms Of Use

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