1.) Auctioneer is hereby appointed as the Owner’s/Seller’s agent to sell each horse consigned with
full authority to transfer title thereto, to receive proceeds of sale for Owner’s/Seller’s account, and to distribute sale proceeds as Auctioneer reasonably believes appropriate Owner/Seller is solely responsible for the correct identity of each horse consigned and to the accuracy of all information regarding each horse in the sales catalog. Owner/Seller agreed to review all information and report any material inaccurate or omissions to Auctioneer prior to the sale.
2.) Owner/Seller warrants title and ownership of each horse consigned free and clear of any liens and adverse claims whatsoever except those which Owner/Seller communicate in writing prior to sale.
3.) All horses are sold without warrantee of ability to race and/or breed, cribbers must be stated on contract.
5.) All horses will have a minimum bid of $1000.00. Entry fee for this sale will be $250.00 and 5% commission on sales $5,000.00 or greater. A $250 minimum commission will be assessed for all other sales. If entry is pulled from sale, seller must provide Auction company with written veterinary certificate, or the $250 commission will be charged to seller. $250 Entry fee is nonrefundable.
6.) Owner/Seller agrees to provide Auctioneer at a time specified by Auctioneer prior to the
commencement of the Sale, all documents pertaining to the horse necessary to complete the sale, including but not limited to, AQHA Registration Papers, Jockey Club Certificate (JCC) of Foal Registration transferred to Nicks Auction Service LLC, Interactive Registration Folder, current certificate of negative Coggins and 30 Day Health Certificate. If the Jockey Club Certificate or AQHA Papers for any horse consigned has not been issued, Owner/Seller authorizes Auctioneer, as its option, to secure such document from the person possessing it or, alternatively, Auctioneer may refuse to sell horse or withhold proceeds due to Owner/Seller until such document has been received.
7.) Owner/Seller agrees to have all consigned horses on the sales premises by the time specified by Auctioneer in its notice to Consignors regarding the sale unless selling remote. Seller’s consigned horse continues in the Owner/ Sellers care, control, custody and possession for all purposes, whether on or off the premises of the auction, until it is taken by Buyer in exchange for a stable release issued by Auctioneer or as otherwise authorized by Auctioneer or Owner/Seller. Auctioneer has no responsibilities for the care or custody of any horse consigned including the providing of veterinary or other care, but Owner/Seller hereby authorizes Auctioneer to take such action, without liability on his/her part, should Auctioneer deem such action reasonably necessary.
8.) No sooner than 21 days after date of sale, Auctioneer will remit the net proceeds of
Owner’s/Seller’s consignment, provided that Auctioneer shall not be required to remit the net
proceeds of the sale of any horse: (1) that is the subject of a dispute or claim by the Buyer or any third party, or (2) in the event of a default by the Buyer in payment of the purchase price, until such dispute, claim of default is resolved and the sales proceeds have actually been received by Auctioneer. Sales proceeds received by the Auctioneer but not remitted shall not earn interest for Owner’s/Seller’s account.
9.) Auctioneer shall have, in its sole discretion, the right to (1) reject at any time any horse
consigned, (2) determine the order of the sale, (3) assign or change stabling assignments, (4) change the date or location of the sale, and (5) make announcements at time of sale concerning any horse consigned.
10.) The sole liability of Auctioneer, should the sale be canceled or should Auctioneer fail to catalog or fail to catalog correctly any horse consigned, shall be the return of entry fee for such horse and Auctioneer shall not be liable for any damages, actual or consequential, arising out of any such failure.
11.) All information concerning sales prices, incidental and consequential sale expenses, the
existence and amounts of liens, charges and other claims, and the final payment of accounts with respect to Buyers, Owner, Sellers, Breeders and Consignors shall not be deemed to be confidential in nature. All parties agree that Auctioneer may, but shall not be required to, disclose of such information without incurring liability by any party.
12.) Owner indemnifies Auctioneer from all claims, liabilities and expenses, including reasonable attorney fees, arising out of or relating to any breach of this contract by owner/Seller, including, without limitation claims relating to ownership of any horse consigned, the priority of payment of sales proceeds, and the distribution of sales proceeds as Auctioneer reasonably deems appropriate. In order to secure payment for all commissions, cost, expenses and damages, including reasonable attorney fee, provided for in this contract or for any other monies owned by Owner/Seller to Auctioneer arising or of other transactions, Owner/Seller grant to Auctioneer a security interest in the horse(s) consigned under this contract and any applicable JCC(s) and the products and proceeds thereof. Owner/Seller appoints Auctioneer as Owner’s/Seller’s attorney-in-fact-to prepare, execute, and file any financial statement or other documents necessary to protect the security interest granted herein and Auctioneer shall have all rights and remedies of a secured party pursuant to this contract and the Uniform Commercial Code.
13.) Owner/Seller acknowledges that Auctioneer may, from time to time, waive provisions of
Consignment Contracts or the Conditions of Sale, but Owner/Seller agrees that such waiver shall not constitute or commit Auctioneer to make a similar waiver in the future.
14.) If someone other than Owner is executing this Contract, as agent for Owner, the agent shall have obtained an Agents Authorization and Owner and Agent shall be jointly and severally liable for all obligations arising here under in favor of the Auctioneer.
15.) Owner/Seller represents that he or she has read all provisions of this contract and agrees to be bound by them and the Conditions of Sale, which govern this sale.