CONDITIONS OF SALE: BIDDERS TAKE NOTICE All American Ruidoso Horse Sales, LLC, Ruidoso Downs, New Mexico THIS SALE IS CONDUCTED IN ACCORDANCE WITH, AND ALL ACTS OF IN- TERESTED PARTIES AND/OR CLAIMS BY THEM SHALL BE GOVERNED BY, THE FOLLOWING CONDITIONS OF SALE: FIRST-APPLICABLE LAW : All horses in this sale are offered according to the laws of the state wherein the sale is conducted. The right to bid, as provided un- der law, is reserved for all consignors unless otherwise announced. SECOND-THERE IS NO WARRANTY EXPRESSED OR IMPLIED BY THE AUC- TIONEER, SPONSORS, OWNER OR CONSIGNOR, AS TO THE PER- FORMING SOUNDNESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY HORSE OFFERED IN THIS SALE. ALL HORSES ARE SOLD “AS IS” WITH ALL EXISTING CONDITIONS AND DE- FECTS EXCEPT AS SET FORTH IN CONDITIONS EIGHTH, NINTH, TENTH, AND ELEVENTH BELOW. ALL PURCHASERS SHALL FULLY INSPECT EACH HORSE THAT THEY MAY PURCHASE. Purchasers will be charged with knowl- edge of any defect that is or should be revealed by a reasonable inspection, includ- ing any defect that is or should be revealed by a review of the Repository information, with the exception of the Consignors’ Item #1 of the Tenth-Limited Warranties. Announcements made by the auctioneer in conjunction with the sale of the horse in question supersede all other information. Any defect which will, more likely than not, materially and adversely affect the horse’s suitability for train- ing and racing, that appears on radiographs taken within 24 hours after the session in which the horse is sold and taken before the horse leaves the AARHS grounds, which does not appear on the Radiographs filed with the Repository prior to the sale, is subject to dispute resolution as provided in the Thirteenth Condition of Sale – Arbitration which may result in a return of the horse to the Consignor and a re- fund of the purchase price. The presence or use of the Repository shall not change any of these Conditions of Sale, which shall continue to be binding upon all parties nor does it create any additional express or implied warranties. In the event Consignor elects to place information in the Repository for any sale con- ducted by AARHS, Consignor warrants that Consignor has deposited in the Re - pository all of the required views mandated by AARHS and further warrants the authenticity and validity of said views. Consignor further warrants the accuracy, va- lidity and authenticity of all other information placed by Consignor in the Repository. In the event it should be determined that Consignor has placed information in the Repository which is not accurate, valid or authentic in all material respects and such information is deemed to be materially misleading regarding the condition of the horse or its suitability for training and racing, then the sale is subject to Rejection at the option of the Purchaser, and Consignor, in that event, shall (i) refund the pur- chase price to the Purchaser together with any proper and reasonable expenses incurred by Purchaser including interest at the rate of 12% per annum, and (ii) pay AARHS entry fees and commission as if the sale had been final. All items, including Radiographs, placed by Consignor in the Repository are the sole property of the Consignor(or the Consignor’s veterinarian) and Consignor shall have the right to receive all such items and information back 48 hours after the end of the session in which the horse in question was sold. However, AARHS may elect to hold such items on behalf of the Consignor in the event a dispute arises concerning these Conditions of Sale and will return the items to Consignor upon the resolution of the dispute. Further, AARHS may permit the Purchaser to receive such items only if Consignor has agreed to permit the Purchaser to receive such items or information. In the event Consignor fails to pick up the items and informa- tion contained in the Repository within 30 days after the end of the Sale, AARHS may elect to notify the Consignor (and/or the Consignor’s veterinarian, if known) of the AARHS intent to destroy or otherwise dispose of said Repository information 10 days after notice from the AARHS of its intent to take such action and AARHS shall be held harmless by Consignor for any losses or expenses incurred as a result of AARHS disposition of the items contained in the Repository. 7
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