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Auction Headquarters Location of Equipment and Conditions of Sale The equipment, which is located at St. Albans, Vermont; Denver, Colorado; West Victor, New York; and San Antonio, Texas, will be sold on a competitive bid AS IS WHERE IS basis. You may bid on individual cars, groups of cars selected by you, or the entire package plus spare parts by lot. You may bid on line through our websites, or by courier, mail, telephone, e-mail, or fax starting on May 1 and ending at 5 PM Central Daylight Time on May 12. On May 13, 2004 at 10:00 AM CDT the highest bids from the previous day will be the starting bids for the Auction. At that time you may continue to bid, by fax or telephone or you may attend the live Auction at the Wyndham Greenspoint Hotel in Houston. On the day of the Auction, the current bids will be displayed on the website a few minutes behind real time. (Remember to refresh your screen on a regular basis.) The Auction will end at 2 PM Central Daylight Time and the highest bids will be presented to the sellers Board of Directors for approval. Registration Registration Forms for the Auction registration may be obtained by contacting D. F. Barnhardt & Associates or by downloading from DFB&A website: trains-trams-trolleys.com and opening the Acadian Auction Site. Completed Registration Forms are due to DFB&A no later than 4:00 PM, CDT, May 12, 2004 if faxed, mailed, couriered, or e-mailed; or no later than 10:00AM May 13, 2004 if delivered in person to Auction Headquarters. Procedures At 2:00 PM Central Daylight Time, and following confirmation by the seller, the highest bidder will be awarded the equipment. At that time the bidder must place a 10% deposit or wire these funds into D. F. Barnhardt & Associates escrow account. Remaining funds, including Buyers Premium must be paid within 14 days after confirmation of sale, unless otherwise agreed. Removal of Equipment The purchaser is responsible for removal of the equipment from its present location by June 15, 2004. For storage beyond June 15, arrangements must be made between purchaser and storage site managers. Any risks and/or costs associated with storage after June 15, and movement from current storage site will be the responsibility of the purchaser. Charges for moving the equipment from storage sites to line haul railroads are posted on DFB&A website. Call D. F. Barnhardt & Associates (DFB&A) for information. Notices
Administrative Terms of Payment: Successful bidder will be required to deposit 10% of sale price in United States Dollars on the day of the auction into the D. F. Barnhardt & Associates escrow account. The remaining funds must be paid to D. F. Barnhardt & Associates within 14 days of acceptance by the Board of Directors of selling company. Should buyer default on final payment, deposit will be forfeited. It is the responsibility of the successful bidder to make all necessary arrangements with seller, appropriate railroads, moving companies, etc. to move the equipment after the sale is confirmed. Members of the Press are welcome. Please contact D. F. Barnhardt & Associates regarding event coverage. The auction and inspections are open to registered bidders and their contingencies.
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