TERMS & CONDITIONS OF SALE

TIMED AUCTION OF MOVING TRUCKS

APRIL 2024

CVT OPERATIONS LLC

1. SCOPE:

• National Auction Company will conduct a public auction of (7) Commercial Trucks owned by CVT Operations that have been declared as surplus to their needs.

2. AUCTION DATE:

• This auction will be a Timed Bid On-Line Auction. Bids will be received on the National Auction auction page on Proxibid.com.
• Registration for the auction will be through Proxibid.com, and bidders will be required to provide credit card information only for verification.
• The auction will open at 3:00 p.m. on April 26, 2024, and end at 3:00 p.m. on May 3, 2024. Lots will begin to close at 3:00 p.m.
• The auction website will make use of staggered closing times, but all bids will close on May 3, 2024.

3. REPORTING OF BIDS:

• All high-bid prices will be reported to the management of CVT Operations, LLC. Any bids that are received after published closing times will not be accepted except those that fall under the conditions of Extensions of Bid described in the paragraph that follows.
• In the event a bid or bids are made during the last two minutes of an auction, the ending time for the auction will be extended for an additional two minutes. Extensions will continue until no further bids are received within the last two minutes of the auction.
• National Auction Company and CVT Operations have no control over this process.

4. FORM OF AUCTION:

• All Vehicles that are included in this Timed-Bid Auction are offered Subject to the Confirmation of the Seller, CVT Operations, LLC.
• In the event top bid prices are not confirmed by CVT Operations, LLC, items may be withdrawn from the auction and offered at another time at the discretion of the Seller. It is expected all top bid prices will be confirmed and Top Bidders will be notified their bid has been accepted within 48 hours from the time the auction closes.
• The Auctioneer reserves the right to establish minimum amounts for opening bids. If bidders do not comply with the minimum amounts stated, bids received that are less than those set forth will not be accepted.

5. PLACE:

• National Auction Company will conduct the auction, and information about it can be found on their website, www.natlauction.com. Proxibid's auction platform will be used for this auction event.

6. INSPECTION OF VEHICLES:

• Vehicles that are included in this auction will be available for Preview on an appointment-only basis. Those desiring to preview the auction inventory should contact George Richards to schedule (954-658-5033).
• Potential bidders/purchasers will not be permitted to drive any vehicle prior to the auction. ALL VEHICLES ARE BEING OFFERED IN AS-IS CONDITION.
• Information is provided for all assets scheduled for inclusion in this auction. Descriptions and photographs will be published on the Proxibid website.
• The vehicles included in this auction have not been driven for an extended period of time. All of them have been started but could require other mechanical attention that is not known to the Seller or Auctioneer. In addition, the condition of tires is unknown and it is possible some of the vehicles cannot be safely driven long distances.
• Every effort has been made to accurately illustrate and describe the condition of every Vehicle that is included in this auction, however, it is possible all defects were not observed. It is also possible between the time auction materials were being gathered and when Vehicles are picked up, charging levels in batteries could have changed. The fact auction materials state that a Vehicle could be started but will not start at the time it is being picked up will not be cause for any sale to be voided. Every effort will be made to assist as much as possible.
• Some of the Vehicles included in this auction may be exempt from odometer/mileage statements. Odometer readings included as part of the vehicle information are as noted by the Auctioneer. In the event actual odometer readings/hour meters are different from those reported in the auction information, this will not be a cause for the invalidation of the sale.
• Each item included in this auction is specifically offered and sold in As-Is condition without guarantee or warranty, either expressed or implied.
• Specific information not included on the website can possibly be obtained by contacting George Richards at (954) 658-5033. It is possible specific information requested may not be available.

7. CONDITIONS OF SALE AND DELIVERY:

• CVT Operations, LLC, as a casual seller, is selling Vehicles at Public Auction.
• Announcements made by the Auctioneer will be sent as emails through the website and distributed to all registered bidders
• Despite efforts to avoid the withdrawal of items from the sale list after being published and/or advertised, there could be circumstances when such action is necessary. CVT Operations, LLC reserves the right to remove any item from the auction and reserves the right to accept or reject any/all bids.
• All Vehicles are being offered and sold "as is" and "where is." CVT Operations, LLC and National Auction Company make no warranties or guarantees, expressed or implied, regarding the operation or condition of any item included in the auction. Even though great effort has been made to ensure the accuracy of the information, it is possible that the information provided might not be correct.
• Once top bid prices have been received and communicated to CVT Operations, LLC, all sales are final and not subject to any refunds or exchanges.
• All successful bidders (s) agree to comply with all terms and provisions as listed above.

8. BUYER’S PREMIUM:

• A 13% Buyer’s Premium will be added to all top bid prices and included in the final purchase price.

9. NOTIFICATION TO TOP BIDDERS:

• All Top Bidders will be notified their bid has been accepted by the National Auction Company through the E-Mail address supplied at the time of Bidder Registration.
• Payments can be made by Cash, Money Order, Certified Check, or Cashier's Check. All checks should be made payable to National Auction Company, Auctioneer's Escrow Account. PersonaI and Corporate Checks will only be accepted when accompanied by a current bank letter that guarantees payment for purchases made at this auction.
• Payments can also be made via Bank to Bank Wire Transfer. Please contact the Auctioneer for bank information.
• Credit Cards, Debit Cards, or payment formats such as Zelle WILL NOT BE ACCEPTED.

10. PAYMENTS:

• Payments will be accepted starting on May 6, 2024, between the hours of 10:00 A.M. and 3:00 P.M.
• All payments must be made at 1900 SW 100 Avenue, Miramar, Florida 33025.
• Payments can be made between 10:00 A.M. and 3:00 P.M. Payments made after May 6, 2024, may subject the Purchaser to a surcharge of 10% of the purchase price. Please plan to pay for purchased vehicles and other items by the specified date.

11. MOTOR VEHICLE TITLES & KEYS:

• Motor Vehicle Certificates of Title and keys will be available at the National Auction Company, 1900 SW 100 Avenue, Miramar, Florida 33025.
• It can be expected there will be a delay in obtaining some of the titles to vehicles included in the auction. The delay should not be more than 45 days from the date the auction closes.
• In the event a Top Bidder has purchased more than one item, payment in full must be received before anything can be removed.
• Invoices will be in the name of Purchasers only and cannot be combined under other Bidder’s numbers as assigned by Proxibid.

12. SALES TAX:

• Florida Sales Tax will be due and payable at the time the title to a vehicle is transferred. National Auction Company does not collect sales tax on titled motor vehicles.
• Dealers who purchase for resale must email a copy of their 2024 resale certificate to the National Auction Company at lori@natlauction.com.

13. MOTOR VEHICLE TITLE TRANSFERS:

• Purchasers are responsible for transferring Certificates of Title into their name or company name as listed on the Invoice provided by the National Auction Company. Transfer of title must be completed within 10 days of the date set forth on the Invoice provided by the National Auction Company.
• Registration fees and Sales Tax must be paid at the time Certificates of Title are transferred.
• All Certificates of Title will be closed to include the name of the Purchaser, their address, the date the vehicle was sold, and the purchase price.
• Licensed Motor Vehicle dealers must provide a copy of their license and Sales Tax Resale Number at the time of bidder registration.
• Open titles will not be given to purchasers.

14. DEFAULT:

• If a buyer fails to complete the sale under the conditions set forth or agreed to by CVT Operations, LLC, any deposits and/or payments made will be subject to forfeiture.
• If a Top Bidder fails to make payment in full after being notified that their bid has been accepted, at the discretion of the Auctioneer, the bidder's name may be subject to removal from the mailing list and may not be permitted to participate in future auctions. Failure to make the final payment may result in removal. from future bidder registration (s) for other auctions conducted on the Proxibid platform.

15. REMOVAL:

• Vehicles must be removed on or before May 8, 2024. National Auction Company is not responsible for any vehicle (s) remaining at the auction site after completion of the auction.
• Entry times will be on an appointment-only basis.
• Top Bidders/Purchasers using Towing or Transport Services will be required to be present when their vehicles are being removed. Please make sure contact information is provided to auction company personnel.
• Top Bidders (Purchases) will be required to sign a receipt that shows the delivery of purchased Vehicles.
• Repair work other than replacement of batteries is strictly prohibited.

17. REGISTRATION:

• All bidders are required to register for the auction on the National Auction Company's Auction page on Proxibid.com. To participate in the auction, all bidders must register with Proxibid.com. Each Bidder will be assigned a Bidder’s Number and that number will be recorded for each sale.

18. COLLUSION:

• Collusion is defined as an agreement among competitive bidders to raise, fix or otherwise maintain the price at which goods or services are sold.
• Auctions are governed under the Sherman Act enacted in 1890. The Sherman Act prohibits any agreement among competitors to fix prices, rig bids, or engage in other anti-competitive activity.
• Violations of the Sherman Act may be considered to be a felony and punishable by fines established in the Act.
• Bidders planning to participate in this auction should be aware violations that come to the attention of National Auction Company will be reported to Broward County School Board for action they determine to be appropriate.

19. DIRECTIONS:

• From The Florida Turnpike:
• Exit at Hollywood/Pines Boulevard (West) and continue to Palm Avenue. At Palm Avenue, turn left and continue south to Pembroke Road. At the traffic light, turn left continue to SW 100 Avenue, and turn right. The Auctioneer's Office is in the middle of the block on the west side of the street.
• From I-95:
• Exit at Hollywood/Pines Boulevard (West) and continue to Palm Avenue. At Palm Avenue, turn left and continue south to Pembroke Road. At the traffic light, turn left continue to SW 100 Avenue, and turn right. The Auctioneer's Office is in the middle of the block on the west side of the street.

20. POINTS OF CONTACT:

• Auction Company: National Auction Company (AB640)
  Contact Name: George Richards (AU899)
  Contact Number: 954-658-5033
  Contact Email: grichards@natlauction.com