The Debut Sale

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1.     LOCATION. The auction will be open to the public online at www.showpig.com

2.     LOT ENTRY FEE. There is a $25 per lot listing fee that is nonrefundable, and due with your entry information. Late entries will not be accepted - any entries received after the deadline will be placed in the following week’s auction. We reserve the right to postpone or cancel your auction lots based on incomplete information and/or poor quality photos or information. All listing fees must be paid via credit card prior to the entry deadline.

3.     SELLER COMMISSION. Commission at the rate of 10% of the gross sale proceeds.

4.     SALE ORDER. The sale order will be determined by the staff of The Wendt Group, Inc. based on the order information is received on a first come, first serve basis

5.     SETTLEMENT. Final settlement of the auction shall be made on or before 10 business days after all payments have been received or all funds have been collected for the entire auction/sale. Auctioneer shall not be held responsible for the collection of payment if any goods or services are delivered or released from Seller to the buyer without full payment to the Auctioneer. In the event a buyer pays with a credit card and files a "Charge Back Dispute" at any time after final settlement is complete, Auctioneer shall require Seller to credit those funds back to Auctioneer’s custodial or trust account.

Auctioneer has the right to deduct from the net proceeds any outstanding balances for services or products sold to the seller by the Auctioneer, auction company or its affiliates prior to the final settlement of the Auction. In the event the proceeds of the auction do not cover the expenses for the auction. Seller authorizes auctioneer to charge SELLERS credit card on file for all expenses.

6.     BIDDING FORMAT. Absentee bidding shall be permitted. “Absentee bidding” means a method by which a potential purchaser authorizes a proxy to place, on behalf of the potential purchaser, a written or oral bid to an auctioneer or auction firm or an agent of an auctioneer or auction firm. Auctioneer shall accept absentee bids with a bid starting at half of the bid amount, bidding in increments with the crowd up to one bid over the maximum absentee amount or any amount above the starting bid.

7.     I AGREE. “Seller” and Auctioneer, Kevin Wendt and The Wendt Group, Inc., an Ohio corporation (“Auctioneer”). Auctioneer’s mission is to facilitate buyers and sellers for the purpose of selling and buying quality livestock genetics and equipment. In consideration of the mutual promises and obligations of the parties, Seller and Auctioneer (collectively the “Parties”) agree as follows:

8. EXCLUSIVE RIGHT TO SELL. Seller grants unto Auctioneer the exclusive right to sell the livestock and/or equipment described in Paragraph 10 of this Contract (“Property”) at public auction as is and where is for cash or other consideration as agreed to by Seller and Auctioneer. Seller acknowledges the Sale of Property In this auction constitutes a contract between buyer and seller. Seller relinquishes his/her right to sell the Property.

9. LIVESTOCK/EQUIPMENT TO BE AUCTIONED. Auctioneer shall conduct an auction to sell the livestock and/or equipment. The inventory list(s) shall identify the livestock and/or equipment to be auctioned by the lot number, quantity, description, and reserve price (if applicable).

10. GOOD TITLE/LIENS OR ENCUMBRANCES. Seller represents that he/she/it is the sole owner of the Property, has good title to the Property, and has the legal right and lawful power to sell and delivery title to said Property. (Place a checkmark next to the appropriate statement regarding liens or encumbrances.)

___X___ Seller represents that the Property is free and clear of all liens or encumbrances.

______ Seller represents that the Property is subject to the following liens or encumbrances:

Name of lien holder: _________________________________________________________.

Address of lien holder: _______________________________________________________.

11. RESPONSIBILITY. Seller assumes responsibility for delivering merchantable title to the Property to the purchaser(s) and agrees to hold Auctioneer harmless from all claims against Auctioneer pertaining to the delivery of such title. Seller is responsible for providing health papers and registration papers on purebred animals. Seller is also responsible for any and all state and national mandatory or voluntary checkoff programs.

12. PAYMENT OF COMMISSION & EXPENSES. Auctioneer’s commission and all expenses incurred for conducting said auction as set forth in Paragraph 2, 3, and 4 of this Agreement shall be first paid from the proceeds from the sale of the Property and shall be paid before payment of any liens or encumbrances set forth in Paragraph 11 above. All checks and credit card payments made payable to Auctioneer are taken subject to collection. Auctioneer shall not be responsible for insufficient funds. All proceeds of the sale of Property shall be deposited into Auctioneer’s trust account or custodial account and will be allowed 10 business days or such longer times as required for payments to clear respective banks. Interest earned on Auctioneer’s trust account, if any, shall be retained by Auctioneer.

13. PACKERS AND STOCKYARDS ACT. Seller acknowledges that Seller is hereby entering into a written agreement for the sale of livestock on credit to Auctioneer, and Seller understands that in doing so Seller will have no rights under the trust and prompt payment provisions of the Packers and Stockyards Act, 1921, as amended (7 U.S.C. §§ 181-229), with respect to any such credit sale. This written agreement for selling on credit shall remain in effect for one year commencing upon the Effective Date.

14. LIABILITY INSURANCE. Seller shall provide and carry adequate liability insurance on the Property, and Seller shall insure against any and all liabilities which may result on Premises of Seller.

15. INDEMNIFICATION. Seller shall indemnify and save harmless Auctioneer, against any or all claims, demands, actions, or causes of action whatsoever in any manner arising from the performance of this Contract or any representation either made or implied by Seller regarding the Property. Seller further shall indemnify and hold Auctioneer harmless from any claim, loss, damage, or attorney legal fees as a result of the auction and bear the risk of any claim, loss, damage or attorney legal fees to any Property or the Premises.

16. UNSOLD PROPERTY. Any unsold or unclaimed property is the responsibility of Seller for removal and costs.

17. ACTS OF GOD. In the event the auction is postponed due to governmental action, acts of God or other causes not within Auctioneer’s control, the auction shall be held at a later date agreeable to both Parties, but in no event later than 90 days from the initial auction date.

18. FORMS OF ACCEPTANCE. Facsimile/fax signatures or acceptance and submission via the Internet or email constitute a valid signing of this Contract.

19. LICENSE. Auctioneer is licensed by The Ohio Department of Agriculture, the Division of Auctioneer Professional Licensing and is bonded in favor of the state of Ohio by the Auction Recovery Fund. Auctioneer is Licensed and Bonded by the following states: OHIO 57198740969, OHIO 2006000195, INDIANA AU09200068, KENTUCKY RP07297, GEORGIA AUNR003168, TEXAS 15231, WEST VIRGINIA 1690, MISSOURI #3 Pike County Missouri. Other: ________________________.

20. SUCCESSORS AND ASSIGNS. This Contract cannot be altered or amended without the express written consent of Auctioneer. This Contract shall be binding upon and inure to the benefit of the Parties hereto and their respective heirs, administrators, executors, successors and assigns.

21. WAIVER. No course of dealing between or among the Parties, no waiver by any or all of the Parties hereto, and no refusal or neglect of any of the Parties hereto, in exercising any rights hereunder or in enforcing compliance with the terms of this Contract, shall constitute a waiver of any provision herein unless such power is expressed in writing by the waiving party.

22. SEVERABILITY. If any term, provision, or part of this Contract shall be invalid or unenforceable, the remainder of this Contract shall not be affected thereby, and the remaining terms, provisions, and parts shall be valid and enforceable to the fullest extent permitted by law.

23. SELLER LIABLE FOR ATTORNEY FEES, COST OF COLLECTION, INTEREST. In the case of Seller’s default of any of Seller’s obligations in this Contract, Seller shall be liable to Auctioneer for all costs incurred (including attorney fees) in enforcing this Contract and/or collecting any damages owed to Auctioneer. Seller also shall be liable to Auctioneer for the payment of compound interest at the rate of 18% per annum or the highest rate permitted by law from the date of default on any damages due Auctioneer.

24. ARBITRATION. This Contract sale be governed by, and construed in accordance with, the laws of the State of Ohio excluding its conflict of laws principles. The Parties consent to the sole and exclusive jurisdiction and venue of the United States District Court for the Southern District of Ohio, Eastern Division, or the Court of Common pleas for Madison County, Ohio for all claims and disputes arising out of or relating to this Contract or Auctioneer’s services, excluding legal action taken by Auctioneer to collect fees and/or recover damages for, or obtain an injunction relating to Auctioneer’s site operations, intellectual property, and services. The Parties waive any objection to jurisdiction and venue in the Eastern Division of the United States District court for the Southern District of Ohio and to jurisdiction and venue in the Court of Common Pleas for Madison County, Ohio.

25. SELLER ACKNOWLEDGMENT. Seller acknowledges that Auctioneer and/or Auctioneer’s agent(s) cannot accurately predict the price the Property will bring at auction and that Auctioneer and/or Auctioneer’s agent(s) have not made any such assurances or predictions as to price. Seller has read all of the provisions of this Contract in full, understands them, and freely and voluntarily agrees to be bound thereby. Seller further represents that the statements herein made by Seller are true to the best of Seller’s knowledge and that this Contract contains and sets out the entire agreement of the Parties.

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