J.J. KANE ASSOCIATES dba KEN PORTER AUCTIONS

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After a bidder is awarded the high bid, they sign an agreement and place a deposit of not less than 25% of the sale price. They then have until 5:00p.m the following business day to complete their payment in full in cash; cashier's check or personal checks when accompanied by a correctly prepared bank "Letter of Guarantee". KPA also has the capability to accommodate major credit cards for bidder convenience, Upon payment for items, the buyer must remove all items by the end of the following business day, unless otherwise approved by KPA. KPA videotapes and/or audio tapes each auction event, recording from a position that will provide a reasonable visual and audio quality for review. In the event any individual or authority should request a viewing of such after the event, KPA shall provide a copy of the videotape to Consignor, immediately upon request, In the event any items are not purchased at a sale, all such items, unless otherwise directed by Consignor, will be retained and re-entered into the next auction event conducted by KPA on behalf of Consignor. This re-entry will be conducted at no cost to Consignor with the same conditions of sale as if entered for the first time. Unless directed by Consignor, the items will continue to rerun if unsold, until sold or termination of this agreement. Misc. Surplus Items of low value will be reran for 1 auction then Consignor will be notified of return or disposal PAYMENT Upon finalization of all transactions of each event, KPA will provide Consignor a detailed summary statement designated as "Final Auction Results'. This statement will be accompanied by a payment of gross proceeds, less applicable sales tax, DMV fees, or any other fees and authorized expenses in compliance with this statement, This detailed report will also include item purchased, item sale price, and buyer name and address and a copy of the Buyer's invoice. This report will be provided to Consignor no later than Twenty (20) workdays after the auction date, KPA states and confirms that it is a licensed auctioneer In possession of a license issued by the California Auctioneer Commission as well as possessing all other licenses as required by State and Local Codes.