Conditions of Sale BIDDERS TAKE NOTICE. THIS SALE IS CONDUCT- ED IN ACCORDANCE WITH, AND ALL ACTS OF INTER- ESTED PARTIES AND/OR CLAIMS BY THEM SHALL BE GOVERNED BY, THE FOLLOWING CONDITIONS OF SALE: 1. APPLICABLE LAW: All horses in this sale are ofered according to the laws of the state wherein the sale is conduct- ed. The right to bid, as provided under law, is reserved for all consideration unless otherwise announced. 2. There is no warranty express or implied by the auction- eer, sponsors, owner, as to the performing soundness, mer- chantability or fitness for any particular purpose of any horse ofered in this sale. All horses are sold “as is” with all existing conditions and defects except as set forth in conditions eight, nine, ten and eleven below. Buyers should examine horses prior to purchasing. 3. BIDDING PROCEDURE: The person making the high- est bid recognized by auctioneer shall be the buyer. The auc- tioneer shall immediately present the buyer with a document entitled Acknowledgment of Purchase for signature. Should such presentation not be made prior to commencement of bidding on the next lot ofered, the buyer shall forthwith identify himself or herself to auctioneer as buyer and sign the Acknowledgment of Purchase. Such action shall not give such other person right or title to the horse; and immediately that such erroneous signing of Acknowledgment of Purchase becomes known to the auctioneer, he shall cause the Ac- knowledgment of Purchase to be presented to the recognized buyer for signature. If the highest bidder fails to immediately execute the Acknowledgment of Purchase or otherwise fails to comply with the Conditions of Sale, or in the event of a mistake by the auctioneer, the Legacy Ranch Horse Sale re- serves the option to resell the animal and such resale shall terminate all obligations of the Legacy Ranch Horse Sale to honor any prior bid. 4. BIDDING DISPUTES: Should any dispute arise be- tween or among the two or more bidders, the auctioneer shall forthwith adjudicate the dispute, and his decision shall be ab- solute, final and binding on all parties. Bids received by per- sonnel employed by the undersigned have the same stature as bids received by auctioneer. In case of dispute, the bidding shall be reopened for advance bids, and if there is no advance bid, the horse is sold to the person from whom the auctioneer recognized as the last bid. Advance bidding shall be restricted to the disputing parties, unless the bid is reduced below the level of the recognized bid a commencement of dispute, in which case bidding is reopened to all. The auctioneer reserves the right to reject any and all bids. 5. TITLE AND DELIVERY: Title passes to buyer at the fall of the hammer. All risk of injury to the horses becomes buyer’s risk at passing of title. Horse will be held for buyer by seller until buyer makes settlement as provided in the SIXTH CONDITION below. Buyer shall immediately present himself or herself to make settlement, if requested by auction- eer, but in any case shall so present himself or herself within thirty minutes of conclusion of the sales session in which the horse was purchased. Upon settlement by buyer, horse will be delivered pursuant to a “stable release” provided by un- dersigned to buyer or his or her representative. Buyer or his or her representative shall present “stable release” to desig-
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