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CONDITIONS OF SALE<br />
ELEVENTH – CONSIGNEE STATUS: <strong>Texas</strong> <strong>Quarter</strong> <strong>Horse</strong> <strong>Association</strong> is operating as an<br />
independent contractor engaged in the business of conducting a consignment sale. <strong>Texas</strong> <strong>Quarter</strong><br />
<strong>Horse</strong> <strong>Association</strong> has compiled the Sale Catalog from information provided by the designated<br />
consignor. All announcements by the auctioneer at the time of the sale are made on behalf of the<br />
designated consignor and will take precedence over the printed provisions of the Sale Catalog. In<br />
the event of any dispute between the buyer and the consignor, <strong>Texas</strong> <strong>Quarter</strong> <strong>Horse</strong> <strong>Association</strong><br />
will occupy the position of agent for a disclosed principal and stake holder and will be discharged<br />
from all obligations owing to the consignor or the buyer on delivery of any property or funds held<br />
by <strong>Texas</strong> <strong>Quarter</strong> <strong>Horse</strong> <strong>Association</strong> to the Court having jurisdiction of such dispute. <strong>Texas</strong><br />
<strong>Quarter</strong> <strong>Horse</strong> <strong>Association</strong> makes NO REPRESENTATION OR WARRANTY with respect to<br />
any animal and the buyer must look solely to the designated consignor for recovery of any damage<br />
by reason of the failure of any representation or limited warranty.<br />
TWELFTH – CATALOG AND ANNOUNCEMENTS: <strong>Horse</strong>s cataloged in this sale are offered<br />
as represented by consignor, and auctioneer and <strong>Texas</strong> <strong>Quarter</strong> <strong>Horse</strong> <strong>Association</strong> are not<br />
responsible for the accuracy of information provided. The accuracy of all information on the<br />
catalog page(s) is the sole responsibility of the consignor. While auctioneer and <strong>Texas</strong> <strong>Quarter</strong><br />
<strong>Horse</strong> <strong>Association</strong> may have procured certain information from third parties on behalf of<br />
consignor, it is nonetheless solely the responsibility of consignor to verify the accuracy of such<br />
information and notify the <strong>Texas</strong> <strong>Quarter</strong> <strong>Horse</strong> <strong>Association</strong> of any corrections prior to sale.<br />
Consignor shall have the affirmative duty to examine the catalogue page(s), on which horses<br />
consigned by him/her appear, prior to sale and report any inaccuracies to the <strong>Texas</strong> <strong>Quarter</strong> <strong>Horse</strong><br />
<strong>Association</strong> so that an appropriate announcement is made prior to sale. All such announcements<br />
must be provided to the <strong>Texas</strong> <strong>Quarter</strong> <strong>Horse</strong> <strong>Association</strong> Sale Office, in writing, upon the earlier<br />
of (A) THIRTY MINUTES PRIOR TO SALE OF THE HORSE, OR (B) AT LEAST (10) HIP<br />
NUMBERS PRIOR TO THE SALE OF THE HORSE. Auctioneer has the sole discretion as to<br />
whether to make any such announcements if received by the <strong>Texas</strong> <strong>Quarter</strong> <strong>Horse</strong> <strong>Association</strong> after<br />
such deadline. In case of error or omission, buyer shall seek redress only from consignor.<br />
CONSIGNOR AND BUYER AGREE TO HOLD AUCTIONEER AND TEXAS QUARTER<br />
HORSE ASSOCIATION HARMLESS FOR ANY LOSS INCURRED BY EITHER<br />
CONSIGNOR, BUYER, OR ANY THIRD PARTY AS A RESULT OF (A) AUCTIONEER’S<br />
FAILURE TO MAKE SUCH ANNOUNCEMENT OR (B) INCORRECT<br />
ANNOUNCEMENTS MADE BY AUCTIONEER.<br />
THIRTEENTH – ARBITRATION: 1. Any controversy arising out of a claim arising under<br />
WARRANTIES shall be settled by arbitration between the buyer and consignor pursuant to the<br />
following procedure: Upon the auctioneer’s determination that a claim under such<br />
CONDITIONS OF SALE has been timely and properly presented by the buyer pursuant to these<br />
CONDITIONS OF SALE, and upon notice from the auctioneer, the buyer and the consignor<br />
shall each select a licensed veterinarian acceptable to the auctioneer. If such veterinarians fail to<br />
agree promptly as to the validity of the claim, they or the buyer and the consignor involved in the<br />
controversy, shall agree upon a third licensed veterinarian. If such two veterinarians, or the buyer<br />
and the consignor, are unable to agree promptly upon the third veterinarian, the auctioneer shall<br />
appoint the third veterinarian. The third veterinarian’s fee, expenses and costs shall be paid by the<br />
party whose property the horse is determined to be. The panel of three veterinarians shall conduct<br />
any tests, investigation, or examinations, which they deem necessary, and may, in their discretion,<br />
conduct a hearing by notifying the auctioneer to arrange for the hearing, and shall, by majority<br />
vote, determine the validity of the claim. The auctioneer shall determine the amount of<br />
reimbursement due to a buyer whose claim is found to be valid and may, in its sole discretion,<br />
conduct a hearing to aid in making such a determination, and such determination shall be<br />
incorporated in the award.<br />
2. Any controversy asserted by the buyer and/or consignor against the <strong>Texas</strong> <strong>Quarter</strong> <strong>Horse</strong><br />
<strong>Association</strong> arising out of a claim made under these CONDITIONS OR RELATED TO THIS
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