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STEPHENS FARM TERMS AND CONDITIONS

Bidders and STEPHENS FARMS Sales agree that the terms and conditions set forth below shall govern this online auction. All registration information provided by Bidders to STEPHENS FARMS shall be current, complete, and accurate. Bidders must be 18 years of age or older. Bidders agree to not use any device, software or routine to interfere or attempt to interfere with the proper functioning of this online auction sale. Bidders acknowledge that this online auction is conducted electronically and that STEPHENS FARMS and other parties to the online auction will therefore of necessity rely on hardware and software that may malfunction without warning.

To proceed with bidder registration, Bidder must first agree to the following Terms and Conditions / User Agreement.

Eligibility:

Our services are available only to individuals who can enter into legally binding contracts under applicable law. Without limiting the foregoing, our services are not available to minors. If you are a minor, you may use our services only in conjunction with your parent or legal guardian. If you do not qualify, please do not use our services. Further, your account and user ID may not be transferred or sold to another party. If you are registering as a business entity, you represent that you have the authority to bind such entity to this Agreement.

Your Information:

You are solely responsible for providing accurate information that will be used to identify you to this online auction system, to deliver notices to you and to allow STEPHENS FARMS to contact you. If your contact information changes, then you are responsible for updating it or notifying STEPHENS FARMS in writing so that we may update your account. STEPHENS FARMS will not be responsible for lost, delayed or misdirected notices in the event you do not update your information in a timely manner. Your personally identifying information will be protected as per STEPHENS FARMS Privacy Policy, which is incorporated by reference into this Agreement. STEPHENS FARMS may refuse to provide services to anyone at any time in its sole discretion. You will be suspended or permanently banned from this site if you provide false information when registering, such as false name or false contact information. You will also be permanently banned from this site if you are the successful Bidder in an online auction and do not honor your auction bid. Our use of e-mail addresses is strictly for contacting Bidders; any use of this private information by anyone else or for any other reason is strictly prohibited and will result in appropriate legal action.

Description of Information:

STEPHENS FARMS believes the descriptions of lots appearing in this online auction sale and in advertising prior to this online auction sale to be correct. Bidder acknowledges that all lots were available for inspection prior to the online auction sale and, by these terms; Bidder's failure to inspect any lot or otherwise be fully informed as to the nature, quality, condition, quantity and size of the lot shall not constitute grounds for any claim, adjustment, refund, termination of the contract for sale, or refusal to close the sale. These written terms constitute the final expression of the parties' agreement and are a complete and exclusive statement of the terms of the contract for sale, or refusal to close the sale. The IMPLIED WARRANTIES OF MERCHANTABILITY, SUITABILITY, AND FITNESS FOR A PARTICULAR PURPOSE, AND ALL OTHER WARRANTIES, EITHER EXPRESS OR IMPLIED, ARE SPECIFICALLY EXCLUDED from this contract for sale and this transaction and shall NOT apply to the merchandise that is the subject of this sale and this transaction.

Bidding:

Bidding is done in increments and will vary by lot according to the current price. You are encouraged to bid the maximum amount you are willing to pay for the lot (Maximum Bidding). Be aware that you may be outbid minutes before the close of the online auction and may not have the opportunity to enter another bid.

You will not automatically receive notification if another bidder outbids your maximum bid. You will therefore need to monitor the auction activity to stay fully informed.

In the event of a tie, the earlier bid will be considered the winning bid. When bidding ends, all sales shall be considered final. There are no exchanges or refunds absent express statement to the contrary expressed herein. A bid by any person shall be deemed conclusive proof that such person is familiar with the Terms and Conditions of Use and Auction Rules and that the Bidder agrees to be bound by them.

Every transmission over the Internet travels a different route and can be delayed by a variety of factors, including the Bidder's own computer. The time lapse between submission of a bid and its registration can vary by several seconds. Bids are queued by a host computer in the order received. Bid positions are awarded on a first come, first served basis. Bids are time stamped by the host computer with the time received. To be accepted, bids must be received by the host computer prior to closeout.

In the event of malfunction by STEPHENS FARMS host computer, the online auction will be stopped. If the malfunction has not affected the sale prior to the malfunction, the lots will be considered sold. Auction of any remaining lots will be completed upon correction of the malfunction. Bidding on the remaining lots will be open, with no bid positions awarded upon resumption of the auction. Any malfunction by the Bidder's computer or Internet Service Provider is not STEPHENS FARMS responsibility. As a Bidder, placing a bid is a binding contract between you and the STEPHENS FARMS, and the bid cannot be retracted. Once a Bidder places a bid and becomes the high/winning bid, the Bidder will be obligated to buy the lot at the said price indicated. Placing a winning bid for a lot and failing to pay the price indicated may violate the law of Bidder's applicable jurisdiction and may result in prosecution under the laws of that jurisdiction. STEPHENS FARMS reserves the right to reject any and all bids for any reason.

As a Bidder, you are responsible for any bids placed by you or a designated representative under your bidding number and password. The security of your Bidder information is your sole responsibility and the Bidder will be responsible for any and all bids placed under the assigned number. If you believe at any time that your Bidder number and password have been compromised due to lack of security on your part, you must notify STEPHENS FARMS immediately.

Bidders agree that when using the Maximum Bid feature on our online auction Web site, Bidder uses that feature according to its applicable terms and conditions. Please note that, when using the Maximum Bid feature, if you are the current high Bidder and you want to change your Maximum Bid, you will be required to place a new bid in the increment designated for that lot in order to raise your Maximum Bid, which may cause you to raise your last high bid by one bid increment. You, as a Bidder, by using the Maximum Bid feature, agree to and understand this feature's operation.

Bid Retractions:

There are no bid retractions. ONCE SUBMITTED, ALL BIDS ARE IRREVOCABLE AND CANNOT BE CANCELLED. Once a bid is made and confirmed, it cannot be retracted. When a bid is made you manifest your intent and ability to buy the lot at the bid price. A false or fraudulent bid may result in legal action. Any winning Bidder who refuses to purchase the lot may be banned from all future online auctions. Despite efforts to avoid the withdrawal of lots from the online auction sale after they are listed, it may sometimes be necessary to so withdraw lots. Therefore, STEPHNENS FARMS reserves the right to do so at any time before or during the online auction sale.

Reserve Price:

An auction lot may have a reserve price. The reserve price is the lowest price at which the lot will be sold. The reserve price may or may not be disclosed to Bidders. A note may be displayed in the lot information screen specifying the existence of a reserve price. When the reserve price has been met the screen may read "Reserve Price Met". The lot will then be sold to the highest bidder at the conclusion of online auction sale. When an article is sold with reserve, STEPHENS FARMS may bid an amount not to exceed the reserve price. If the reserve price is not met, the lot will not be sold during that online auction. STEPHENS FARMS reserves the right to accept or reject any or all bids unless otherwise stated.

Limit of Liability:

In no event shall STEPHENS FARMS be liable for lost profit or any special, incidental, or consequential damages whatsoever arising, including negligence, out of or in connection with any sale or transaction. STEPHENS FARMS reserves the right to reject or void bids, whether winning or not, if STEPHENS FARMS determines that said bid was not made in good faith or is restricted, prohibited, or taxed due to local laws.

STEPHENS FARMS has sole and final discretion to determine winning bidders. In the event of a dispute between parties, the decision of STEPHENS FARMS is final. STEPHENS FARMS accepts no liability for any errors or omissions.

STEPHENS FARMS reserves the right to reopen bidding to settle any matters related to disputed bids or ties. STEPHENS FARMS reserves the right to postpone or cancel a sale without notice, if it is determined in STEPHENS FARMS sole discretion that such action is appropriate. In the event of any withdrawal, cancellation, or postponement of any sale, STEPHENS FARMS has no liability or obligation to any intended bidders.

Title and Delivery:

Title passes to the high Bidder at the end of the allotted bidding time for each lot. All risk of death, damage, or injury to each lot becomes the Buyer's risk upon the end of the allotted bidding time. Each Buyer, following his or her purchase, will receive an Acknowledgement of Purchase via e-mail outlining the details of the transaction including payment, settlement, and final terms.

Registration Papers:

Registration papers shall be delivered from STEPHENS FARMS to the Buyer within approximately 45 days of the Buyer's check clearing the bank or acceptance of final payment. STEPHENS FARMS is responsible for the transfer of registration papers.

Transportation:

The Buyer, at Buyer's own expense, shall transport the livestock or merchandise from the STEPHENS FARMS. Specific arrangements will be indicated on each individual auction and expenses will be handled between Buyer and STEPHENS FARMS. If you have questions regarding transportation, contact STEPHENS FARMS before placing any bids.

Payment:

Payment for purchases must be made payable to STEPHENS FARMS, unless otherwise noted in the specific online auction's terms and conditions. Buyer must acknowledge and agree not to retract the purchase offer. Buyer shall be responsible for making arrangements for delivery of merchandise or livestock. All bids are in US Dollars; all settlements will be paid in US Dollars.

Authorized Agents:

Persons acting as agents or representatives for another parties must indicate their agent/representatives status when signing their Acknowledgement of Purchase.

Default of Purchase:

If any person shall purchase a lot and fail to pay for it in the manner described above, STEPHENS FARMS shall have, in addition to all other legal rights, the right to resell the lot, or, bring an action for specific performance, in which event the defaulting Buyer agrees to pay all costs of such suit, together with all reasonable attorney's fees and expenses. In the event of a resale, the defaulting Buyer agrees to pay all costs of resale, plus any deficiency between the original purchase price and the total price upon resale. If Buyer brings a lawsuit against STEPHENS FARMS and does not prevail, Buyer will reimburse STEPHENS FARMS for all reasonable legal fees and expenses incurred in connection with said suit.

Indemnification:

Bidders shall hold harmless, defend, protect, and indemnify STEPHENS FARMS and its owners, affiliates, subsidiaries, agents, employees, assigns, successors, heirs, and personal representatives from any and all suits, liabilities, claims, demands or damages (including attorney's fees, costs, and other expenses related to defending such claims) and arising out of Bidder's and Owner/Seller's use of the online auction service, the violation of these terms of service, the infringement of the service using Bidder's computer, or of any intellectual property or other right of any person or entity.

Legal Compliance:

You shall comply with all applicable domestic and international laws, statutes, ordinances, and regulations regarding your use of our online auction service and your bidding on, listing, purchase, solicitation of offers to purchase and sell items.

No Agency:

You and STEPHENS FARMS are independent contractors, and no agency, partnership, joint venture, employee-employer, or franchiser-franchisee relationship is intended or created by this Agreement.

Venue:

Venue for any cause of action arising out of this Agreement shall be Potter County, Texas.

General:

This Agreement shall be governed in all respects by the laws of the State of Texas, as such laws are applied to agreements entered into and to be performed entirely within Texas between Texas residents. We do not guarantee continuous, uninterrupted, or secure access to our online auction services, and operation of our online auction site may be interfered with by numerous factors outside of our control. If any provision or portion of a provision of this Agreement is held to be illegal, invalid, or unenforceable for any reason, this Agreement will be construed and enforced as if the illegal, invalid, or unenforceable provision had never comprised a part of this Agreement.

The remaining provisions of this Agreement shall remain in full force and effect. You agree that this Agreement and all incorporated agreements may be automatically assigned by STEPHENS FARMS, in our sole discretion, to a third party, in the event of a merger or acquisition. Headings are for reference purposes only and in no way define, limit, construe, or describe the scope or extent of such section. Our failure to act with respect to a breach by you or others does not waive our right to act with respect to subsequent or similar breaches.

STEPHENS FARMS may amend these terms and conditions at any time by posting the amended terms on our Web site. The amended terms shall automatically be effective 10 days after they are initially posted on our Web site.

Privacy Policy:

You must submit personal information at the time of registration to bid on this auction site. We will never give or sell your information to any outside company. The information you provide us with will only be used by us. This online auction site contains links to other sites. We are not responsible for the privacy practices or the content of other Web sites.

Your consent:

By using our Web site, you are consenting to the collection and use of this information by STEPHENS FARMS. We use e-mail mailing lists to notify our customers about future online and live auctions. If your e-mail or other registration information changes please notify us immediately. If you are receiving a particular mailing and wish to discontinue receiving future mailings, simply forward the received e-mail to us and we will promptly remove your name from our list.

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I ACCEPT


Revised 10/19/2012

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