CAR-TECH AUCTION, INC ONLINE TERMS AND CONDITIONS OF SALE FOR DEALERS BY CLICKING THE "ACCEPTANCE" BUTTON BELOW, DEALER IS AGREEING TO THESE TERMS AND CONDITIONS AS AN EXPRESS CONDITION OF BIDDING ONLINE FOR ANY VEHICLE AT AUCTION. Dealer is legally bound to the terms and conditions set forth herein. Please read this document carefully. 1. Introduction. Car-Tech Auction, Inc (Car-Tech) has provided this site to allow registered Dealers to bid at our live auction via the Internet. Car-Tech may change these terms and conditions from time to time. Car-Tech may change, restrict access to, suspend, or discontinue this site, or any portion of this site, at any time. 2. Registration and Passwords. All Dealers must be registered with Car-Tech prior to bidding on any vehicle. Registration to participate in a Car-Tech auction must be renewed annually. Once Dealer has registered and accepted these Terms and Conditions, access shall be provided to the list of vehicles available for the particular auction. As part of the registration process, Dealer will select a user name and a password. Dealer agrees that the information supplied during the registration process will be accurate, complete, governed by the Privacy Policy and that Dealer will not (i) register under the name of, nor attempt to enter the site under the name of, another person or entity; nor will Dealer (ii) adopt a user name that Car-Tech, in its sole discretion, deems offensive. If Car-Tech has reasonable grounds to suspect that information Dealer provides as part of the registration is untrue, inaccurate, not current or incomplete, Car-Tech has the right to suspend or terminate Dealers registration and refuse any and all current or future use of Car-Techs online services. Dealer is responsible for maintaining the confidentiality of the user name and password, and is responsible for all activities that occur under Dealers user name and password. Dealer agrees to ensure exiting from the Site at the end of each auction. If Dealer discovers or suspects any unauthorized use of Dealers user name or password or any other breach of security, Dealer agrees to immediately notify Car-Tech. Car-Tech is not responsible for any loss or damage arising from Dealers failure to protect or to keep confidential Dealers user name or password. 3. Ownership. The materials on this site are the property of Car Tech or its licensors, and are protected by U.S. copyright laws, international conventions and other copyright laws. Except as explicitly provided in these terms and conditions, Dealer may not distribute, transmit, display, reproduce, modify, create derivative works from, or otherwise exploit any of the materials on this site. Dealer may not use automated means to collect and/or index any information contained on this site. Dealer may display and occasionally print a single copy of any page on the site for Dealers own use, but may not otherwise reproduce any material appearing on this site without the prior written consent of Car-Tech. Dealer may not store any significant portion of, or distribute copies of, materials found on this site, in any form (including electronic means), without prior written permission from Car-Tech. Requests for permission to reproduce or distribute materials found on this site should be sent to Car-Tech at 87 Randolph Avenue, Avenel, New Jersey 07001. However, without the prior written permission of Car-Tech, Dealer may not frame any of the content of this site, nor incorporate into another website or other service any intellectual property of Car-Tech or its licensors. Requests for permission to frame content may be sent to Car-Tech at 87 Randolph Avenue, Avenel, New Jersey 07001. The Car-Tech logo is a registered trademark of Car-Tech Auction, Inc. The names of other products and services referred to on the site may be the trademarks of their respective owners. Dealer may not use any trademark or service mark appearing on this site without the prior written consent of the owner of the mark. All contents of this site are: Copyright 2004 Car-Tech Auction, Inc. and/or its licensors. All rights reserved. Dealer agrees not to use this site to violate the copyright, trademark, or other intellectual property rights of any person or other entity. By submitting material to Car-Tech, Dealer is representing ownership of such material. By submitting material to Car-Tech, Dealer is permanently granting Car-Tech a perpetual, royalty-free license to the material, including the right to modify the material, to use it commercially, and to maintain the material in an archive. 4. Disclaimer of Warranties and Limitation of Liability. EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN THESE TERMS AND CONDITIONS, ALL VEHICLES ARE PROVIDED AS IS WHERE IS. CAR-TECH IS NOT RESPONSIBLE FOR VEHICLES LEFT ON ITS PREMISES FOLLOWING A SALE, INCLUDING BUT NOT LIMITED TO, CLAIMS FOR DAMAGE OR THEFT. IN ADDITION, IF DEALER RELIES ON THIS SITE OR ANY MATERIAL OR INFORMATION AVAILABLE THROUGH THIS SITE, DEALER DOES SO AT ITS OWN RISK. DEALER UNDERSTANDS THAT THERE MAY BE DELAYS, OMISSIONS, INTERRUPTIONS, INACCURACIES, AND/OR OTHER PROBLEMS WITH THE INFORMATION, PRODUCTS, AND SERVICES PUBLISHED OVER THIS SITE, INCLUDING DEALERS CONNECTION TO THIS SITE. DEALER ALSO UNDERSTANDS THAT IT IS SOLELY RESPONSIBLE FOR ANY DAMAGE OR LOSS DEALER MAY INCUR THAT RESULTS FROM DEALERS USE OF THIS SITE OR ANY MATERIAL, INFORMATION, AND/OR DATA DOWNLOADED FROM OR OTHERWISE PROVIDED THROUGH THIS SITE, INCLUDING WITHOUT LIMITATION, THROUGH CAR-TECH AUCTION, INC. THIS SITE IS PROVIDED TO YOU "AS IS." CAR-TECH AND ITS PARENT, AFFILIATES, AGENTS AND LICENSORS CANNOT AND DO NOT WARRANT THE ACCURACY, COMPLETENESS, CURRENTNESS, NONINFRINGEMENT, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF THE INFORMATION AVAILABLE THROUGH THE SITE (OR ANY INFORMATION, GOODS OR SERVICES THAT ARE REFERRED TO, ADVERTISED OR PROMOTED ON, OR SOLD THROUGH THIS SITE). NOR DOES CAR-TECH GUARANTEE THAT THE SITE WILL BE ERROR FREE, OR CONTINUOUSLY AVAILABLE, OR THAT THE SITE WILL BE FREE OF VIRUSES OR OTHER HARMFUL COMPONENTS. UNDER NO CIRCUMSTANCES WILL CAR-TECH OR ITS PARENT, AFFILIATES, AGENTS OR LICENSORS BE LIABLE TO DEALER OR ANYONE ELSE FOR ANY DAMAGES, ARISING OUT OF DEALERS USE OF THIS SITE, ANY PRODUCT ADVERTISED OR PROMOTED ON THIS SITE, OR THE ACTIONS OR REPRESENTATIONS OF THE AUCTIONEERS CONDUCTING THE AUCTION, INCLUDING, WITHOUT LIMITATION, ANY LIABILITY FOR CONSEQUENTIAL, SPECIAL, INCIDENTAL, INDIRECT, PUNITIVE, EXEMPLARY, OR OTHER DAMAGES OF ANY KIND (INCLUDING LOST REVENUES OR PROFITS, LOSS OF BUSINESS OR LOSS OF DATA) EVEN IF CAR-TECH IS ADVISED BEFOREHAND OF THE POSSIBILITY OF SUCH DAMAGES. DEALER AGREES THAT THE LIABILITY OF CAR-TECH AND ITS PARENT, AFFILIATES, AGENTS AND LICENSORS, IF ANY, ARISING OUT OF ANY KIND OF LEGAL CLAIM IN ANY WAY ARISING OUT OF OR OTHERWISE RELATED TO THE SITE WILL NOT EXCEED THE AMOUNT DEALER PAID, IF ANY, TO CAR-TECH FOR USE OF THE SITE. 5. Placing Bids. Dealer shall make online bids by designating the bid price and shall submit the bid to Car-Tech by clicking the Bid button. Once Car-Tech receives the online bid, a Car-Tech employee shall provide such bid to the Auctioneer. CAR-TECH, ITS EMPLOYEES AND AGENTS ACCEPT NO RESPONSIBILITY FOR THE TRANSMISSION OF ONLINE BIDS TO THE AUCTIONEER. DEALER ACKNOWLEDGES THAT CAR-TECH, ITS EMPLOYEES AND AGENTS SHALL NOT BE CONSIDERED DEALERS AGENT IN THE TRASMISSION OF BIDS TO THE AUCTIONEER. DEALER UNDERSTANDS THAT IT IS RELYING ON THE TRANSMISSION OF THE ONLINE BID TO THE AUCTIONEER AT ITS OWN RISK AND WITHOUT FAULT TO CAR-TECH. DEALER ACKNOWEDGES THAT LIVE, IN PERSON BIDDING WOULD PROTECT AGAINST ANY BID TRANSMISSION ERRORS, BUT DEALER HAS AGREED TO ASSUME SUCH RISK. 6. Order Confirmation and Reservation of Rights. A Dealer can confirm highest bid approvals by visiting their Account History on line. Pending bids will be marked accordingly and updated within twenty-four (24) business hours from the date of the particular auction. Your Account History shall confirm the bid price and the make, model, and VIN number of the vehicle. CAR-TECH RESERVES THE RIGHT TO REJECT ALL BIDS AND THE RIGHT TO NEGOTIATE WITH THE HIGHEST BIDDER. 7. Buyer Fees. Buyers that purchase vehicles are responsible for Dealer Fees, which are in addition to the price of the vehicle. The Dealer Fee that Dealer is responsible for shall correspond to the price of the vehicle pursuant to a set schedule. Car-Tech reserves the right to increase the Buyer Fees upon thirty days notice. 8. Payment for Vehicles; Wire Fee; Late Payments; Storage Fees; Resale; Administration and Pull Out Fees. All vehicles must be paid for and removed from Car-Techs premises within three (3) business days from the date of the Order Confirmation. A late fee of $40.00 per day and a storage fee of $20.00 per day, per vehicle shall be assessed for all unpaid vehicles. Payments must be made by Certified Check, Bank Check, Money Order or Pre-Approved Business Check. Any Dealer that wires monies shall pay a $30 wire fee. Dealer shall be assessed a Return Check Fee of $100.00 and the loss of privileges to bid on vehicles until all amounts, including penalties are paid. Cash will be accepted up to $500.00. Dealers will not be allowed to purchase vehicles if unpaid vehicles exist from prior auction sales. Vehicles bid on and not paid for within the specified period are subject to resale by Car-Tech. Resale vehicles will be assessed a renege fee of $300.00 plus the difference of the resale price. Such penalty must be paid before the purchase of any other vehicles from a Car-Tech auction will be allowed. Each Internet purchases shall be assessed a $35 administration fee. All vehicles purchased shall be assessed a $20.00 pull out fee. Pull Out Fee - $20/car unless delivery by Car Tech Transport Late Fee - $40 per day per vehicles not paid in full within 3 days of sale Date ( includes sale day) Storage - $20. per day per vehicle not removed within 3 days of sale (includes sale day) Renege Fee - $300. plus difference of price loss on resale Return Check Fee - $100. plus loss of privilege Visitor Pass - $50. per pass, maximum 3 per cardholder ***Note: Visitors must remain with buyer at all times and are not allowed to purchase vehicles. Visitors are the responsibility of the dealer purchasing the pass. 9. Taxes. All Dealers are responsible for the payment of any applicable state sales taxes. 10. Vehicle Retrieval and Delivery. All vehicles purchased shall be assessed a $20.00 pull out fee. Delivery of vehicles can be provided by Car-Tech pursuant to its delivery terms, which shall be provided to any Dealer requesting that Car-Tech deliver the vehicle. If the delivery option is chosen, the $20 a pull out fee (set forth in Section 8 above) shall not be charged. 11. Miscellaneous. Car-Tech reserves the right to deny access to the Site, or any service or feature provided via the Site, to anyone who violates these Terms and Conditions or who, in Car-Techs judgment, interferes with the ability of others to enjoy this website, or infringes the rights of others. Car-Tech respects the privacy of its Dealers utilizing this Site. Please review the Car Tech Privacy policy. If any provision(s) of these Terms and Conditions shall be held to be invalid, illegal, or unenforceable by a court or other tribunal of competent jurisdiction, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. No failure or delay by Car-Tech in enforcing any right or remedy under these Terms and Conditions shall be construed as a waiver of any future or other exercise of such right or remedy by Car-Tech. Except with respect to Copyright or Patent rights which shall be governed by federal laws, these Terms and Conditions shall be construed and enforced in accordance with and be governed by the laws of the State of New Jersey without reference to conflict of laws principles. The parties hereby consent to the personal jurisdiction of the courts of Middlesex County, New Jersey and waive their rights to venue outside of Middlesex County, New Jersey. These Terms and Conditions constitute the sole and entire agreement of the parties as to the matter set forth herein and supersedes any previous agreements, understandings, and arrangements between the parties relating hereto. ACCEPTANCE OF TERMS