Conditions of Sale 9. 10. 11. 12. 13. 14. Removal of Purchased lots: All items sold may not be removed from JMA’s premises, or the premises of the auction, until the buyer has paid in full the purchase price therefor or has satisfied such terms, as JMA, in its sole discretion, shall require. Subject to the foregoing, all lots are to be paid for and removed from JMA premises at the buyer’s expense no later than the third calendar day following the sale, and, if not so removed, JMA may transfer any such lot to its warehouse at the risk and expense of the buyer. If a lot has not been collected the third calendar day following the sale and JMA does transfer the uncollected property to its warehouse, the buyer will be liable to JMA for storage and handling charges of $10.00 per day for each lot. In addition to other remedies available by law, JMA reserves the right to impose a late charge of 1% per month or the maximum permitted by law on the purchase price commencing on the day following the date on which payment is due if the buyer does not make payment in full in accordance with these Conditions of Sale. Absent Bidders: Bids which are submitted to JMA in writing or are otherwise left with JMA prior to an auction for execution at or below a specified price (Absentee bids), as well as telephone bids, shall be entertained and executed by JMA for the convenience of bidders not present at auction, but JMA shall not be responsible for failing to execute such bids or for errors relating to our execution of such bids. Bidding on any article(s), whether in person, by agent, order bid, telephone or other means, constitutes the highest bidders acceptance of these Conditions of Sale. All absentee bids must be received by JMA prior to the day of sale. Bidders by telephone are also encouraged to leave a cover bid in case of technical failure. Applicable taxes: Unless exempted by <strong>California</strong> law, the buyer shall be required to pay any applicable state and local sales tax or compensating use tax on the purchase price. Buyer’s Breach of Conditions of Sale: If the buyer fails to comply with any of these Conditions of Sale, JMA may, in addition to asserting all remedies available by law, including the right to hold such defaulting buyer liable for the purchase price, (I) cancel the sale, retaining as liquidated damages any payment made by the buyer, (II) resell the property without reserve at public auction or privately on seven days notice to the buyer, or (iii) take such other action as we deem necessary or appropriate. If JMA resells the property, the original defaulting buyer shall be liable for the payments of any deficiency in the purchase price and all costs and expenses, including warehousing, the expenses of both sales, reasonable attorneys‚ fees, commissions, incidental damages and all other charges due hereunder. In the event that such buyer pays a portion of the purchase price for any or all lots purchased, JMA shall apply the payment received to such lot or lots that JMA, in our sole discretion, deems appropriate. JMA shall have the benefit of all rights of a secured party under the Uniform Commercial Code adopted in the State of <strong>California</strong> where the auction is held. Governing Law, Venue and Jurisdiction: The rights and obligations of the parties with respect to the Conditions of Sale and the conduct of the auction shall be governed and interpreted by the laws of the State of <strong>California</strong>. By bidding at an auction, whether present in person or by agent, by absentee bid, telephone or other means, the buyer shall be deemed to have consented to the exclusive jurisdiction of the courts of such state and the federal courts sitting in such state. Further, the buyer agrees that the venue for any action arising out of the failure to abide by the Conditions of Sale, or any conduct related to or arising out of the auction, shall be the Los Angeles Superior Court, Pasadena Branch located at 300 E. Walnut Street, Pasadena, <strong>California</strong> 91101 or the Federal Court Central District located at 312 North Spring Street, Los Angeles, <strong>California</strong>, 90012-4793. The buyer expressly agrees that (i) neither JMA nor the seller shall be liable, in whole or in part, for any special, indirect or consequential damages, including, without limitation, loss of profits and (ii) the buyer’s damages, if any, are limited exclusively to the original purchase price paid for the lot. Delivery of Lots Sold: The packing and handling of purchased lots by John Moran <strong>Auction</strong>eer’s staff at the auction is undertaken solely as a courtesy to customers. There is no charge for packing material and labor supplied to you on the evening of the sale. In no event will JMA be liable for damage to painting, glass or frames regardless of cause in connection with this free service. JMA may, in our discretion and as a service to buyers, arrange to have purchased lots packed, insured and forwarded at the request, expense and risk of the buyer. JMA assumes no responsibility for acts or omissions in such packing or shipping by other packers or carriers, whether or not recommended by JMA. Nor does JMA assume any responsibility for any damage to picture frames or to the glass therein. In circumstances in which JMA arranges and bills for such services via invoice or credit card, JMA will include an administration charge. In the case of JMA personally delivering an item, if an item cannot be delivered in condition equal to the existent condition at the time of sale, or should any item be mis delivered, stolen or lost prior to delivery, JMA‚s liability shall not exceed the amount paid by the buyer at the auction. Buyers are strongly encouraged to view all items auctioned on display before the auction to determine the true condition of items of interest. 15. 16. Notices, Demands and Refunds: Any demands for refunds, problems with the lot(s) sold or notices of any kind concerning the auction shall be in writing and addressed to JMA at 735 West Woodbury, Altadena, <strong>California</strong> 91001. Effect of any Unenforceable Provisions: Should any of the Conditions of Sale be deemed unenforceable by a competent court having jurisdiction, such unenforceable provision shall have no effect on the enforcability of the remaining provisions contained in the Conditions of Sale.
This catalogue is meant merely as a guide. The <strong>Auction</strong>eers do not warrant the accuracy, genuineness, authenticity, description, weight, count or measure of any of the lots specified herein. BIDDING INCREMENTS $1,000 - $1,900 @ $100 increments $2,000 - $4,750 @ $250 increments $5,000 - $9,500 @ $500 increments $10,000 - $19,000 @ $1,000 increments $20,000 - $47,500 @ $2,500 increments $50,000 - $95,000 @ $5,000 increments $100,000 - $190,000 @ $10,000 increments $200,000 - $480,000 @ $20,000 increments $500,000 & above @ $50,000 increments, or at <strong>Auction</strong>eer's discretion. View Illustrated <strong>Catalogue</strong> Online @ www.johnmoran.com
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