GENERALIZED AUCTION PROCEDURES AND NOTICES FOR ALL PARTIES

TERMS AND CONDITIONS OF SALE

We encourage all parties to read this document and the Terms and Conditions for the auction publicated within the sale website, carefully, and to consult an attorney with any questions or concerns regarding the provisions herein.

Bois D’Arc Bleu LLC, DBA Perkins Ranch, a Texas limited liability company, is hereafter, referred to as “Perkins Ranch”.

The Perkins Ranch and Owner/Seller make no express or implied warranties, representations, or guarantees about the horse's quality, fitness for a particular purpose, discipline, or anything else. All horses sell "as is, where is”.

Requests for Buyer Numbers can be approved or rejected by Perkins Ranch at its sole discretion.

HORSE EXAMINATIONS

Prior to bidding on or buying a horse, Buyers are encouraged to inspect it thoroughly. Veterinary assistance is encouraged and is the Buyer's responsibility. The veterinary statement provided by Perkins Ranch does not guarantee or represent the validity of any findings contained in it.

The results of any genetic testing are not guaranteed by Perkins Ranch.

CARE AFTER SALES

At the fall of the hammer, the horse becomes the Buyer's responsibility. It is recommended that Buyers contact the Owner/Seller after the sale and confirm that proper care is provided.

SETTLEMENT OF ACCOUNTS

After the sale, all accounts must be paid by 5:00 PM (Central Standard Time) the NEXT business day. All payments must be made directly to Perkins Ranch.

AQHA TRANSFERS

Owner/Seller(s) are responsible for transfer fees. Registration certificates and completed transfers will be mailed to AQHA. Buyer will receive original registration certificates directly from AQHA after transfer completion. No registration certificates will be distributed on the day of sale.

ANNOUNCEMENTS, CATALOG, AND OTHER INFORMATION

We have efforted to ensure the accuracy of the information presented in the sale catalog. However, Perkins Ranch will not be responsible for any errors recorded in the catalog, or the consequences therein. Please report errors to us, should you find them.

PLEASE USE CAUTION WHILE ON THE PROPERTY

Previewers of horses at any facility, including those owned by Perkins Ranch, should exercise extreme caution and do so at their own risk.

WARNING

UNDER TEXAS LAW (CHAPTER 87, CIVIL PRACTICE AND REMEDIES CODE) A FARM ANIMAL PROFESSIONAL OR FARM OWNER OR LESSEE IS NOT LIABLE FOR AN INJURY TO OR THE DEATH OF A PARTICIPANT IN FARM ANIMAL ACTIVITIES, INCLUDING AN EMPLOYEE OR INDEPENDENT CONTRACTOR, RESULTING FROM THE INHERENT RISKS OF FARM ANIMAL ACTIVITIES.

EVENTS & ENGAGEMENTS

After the date of sale, all payments for eligibility in major aged events must be made by the Buyer, who should inform the appropriate association.

VET CHECKS

In the absence of a pre-purchase examination, the Buyer assumes all risk and is subject to indemnification obligations because Perkins Ranch makes no express or implied warranties, representations, or guarantees about the horse's quality, fitness for a particular purpose, discipline, or anything else. All horses sell "as is, where is”.

BY ATTENDANCE:

It is the intention of all parties to save, hold harmless and indemnify Perkins Ranch, Aaron Perkins (an individual), Markam "Kolt" Perkins (an individual), Vicki Perkins (an individual), Tierney Perkins (an individual) and those persons or entities acting on behalf of the Perkins Ranch (together, the "Perkins Ranch Parties"), their agents, employees, members, managers, partners, directors, and officers are held harmless from any and all liability, debt, claims, lawsuits, losses, damages, causes of action, judgments, costs, and expenses, including attorney fees, as a result of or alleged to be the result of, (i) death or injury of any person,  (including but not limited to employees of the Owner/Seller or Buyer) or any horse, including but not limited to any claims that arise out of horse-related injuries or damages as a result of the horse's actions following the fall of the hammer, and (ii) any damage to the property caused directly or indirectly by the Owner/Seller or Buyer using any of the facilities related to the sale, the conduct of the sale, or any other event related to the sale, including loss of use of the property, economic loss or otherwise. Regardless of whether or not the claim or liability in question is alleged to result or be alleged to result primarily or in part from the sole, concurrent, comparative or strict negligence of the Perkins Ranch Parties, or from the defects in the premises, equipment or tools that the Perkins Ranch Parties own, operate or control, the above indemnity obligations will apply. It is therefore understood and agreed that Perkins Ranch Parties shall not be liable for any losses, deaths, damages, or injuries arising from or occurring prior to, during, or after any sale to any person, animal, article or personal property.

SALE CONDITIONS

SOURCE: Perkins Ranch

ATTN: Sale Participants

CONDITION NO. 1 - GOVERNING LAW

Before, during or after the sale, neither the Perkins Ranch nor Perkins Ranch Parties will be responsible for damage, including, but not limited to, loss, injury, death, or illness to horses, persons, property, or other liabilities.

Before, during, or after the sale, neither the Perkins Ranch nor the Perkins Ranch Parties shall be liable for any loss, damage, injury, death, or illness to any horse, person, or property. Perkins Ranch is governed by Texas law and all transactions between Buyers, Owners/Sellers and Perkins Ranch are governed by Texas law. There are no express or implied warranties, representations, or guarantees about the horse's quality, fitness for a particular purpose, discipline, or anything else. All horses sell "as is, where is”. If there is a legal dispute between the Buyer and the Owner/Seller, Perkins Ranch will act as an agent for a disclosed principal and stakeholder. Perkins Ranch will be relieved of all responsibilities owing to the Owner/Seller or Buyer upon the delivery of any funds or property held by Perkins Ranch to the court with jurisdiction over the dispute.

CONDITION NO. 2 -  PROCEDURES FOR BIDDING

Buyer shall be the highest bidder. Bids may be rejected at Perkins Ranch's discretion.

CONDITION NO. 3 -  BIDDING DISPUTES

The decision of Perkins Ranch shall be absolute, final, and binding for all parties in the event that there is a dispute between or among bidders.

Perkins Ranch has the right to reopen the bidding procedure, in such a case, and request advanced bids, only from bidders who have claimed the last bid. In the absence of an advance bid, the horse will be sold to the bidder whose final bid Perkins Ranch recognized. If for any reason the bid is reduced lower than the recognized bid at the beginning of such a dispute, Perkins Ranch may reopen the bidding to all bidders with the top bidder becoming the Buyer regardless of whether or not the final bid exceeds the bid which was originally disputed. TO PROTECT SELLERS' RESERVES, PERKINS RANCH MAY BID ON ANY HORSE OR ITEM. IT IS ALSO POSSIBLE FOR OWNER/SELLER TO BID ON THE HORSE THEY OWN FOR THE PURPOSE OF PROTECTING THEIR RESERVE.

CONDITION NO. 4 - TITLE & DELIVERY

The “fall of the gavel” is the point in time in which bidding is closed on a particular lot and online bidding is closed. At this point, the title passed automatically to the Buyer. When the horse has been sold, the Buyer assumes all risk of loss, and responsibility, maintenance, care, and expenses for the horse are transferred to the Buyer immediately. This includes, for example, the condition of the horse if it becomes ill, injured, or dies after it is sold. As soon as title passes, the Buyer agrees to indemnify and hold Perkins Ranch harmless for all losses, costs and expenses, including but not limited to: (a) the illness, injury or death of the purchased horse, (b) loss or damage to property, and (c) injury or death to persons caused by the Buyer, his agents, employees or the purchased horse. Whether delivery is made or not, the Buyer assumes all risks. It is the Buyer's responsibility to make a full settlement to the sales cashier prior to delivery of a purchased horse as described in Condition No. 5.

CONDITION NO. 5 - SETTLEMENT

All settlements must be paid in full, within the time that was specified in advance, and must be made directly to Perkins Ranch. There is no recognition of settlements made to any other source - those are prohibited. For all purchases, full payment must be made in United States Currency by a bank check, credit card, cash, or certified check, approved by Perkins Ranch. It is not possible to transfer the Buyer's Acknowledgement of Purchase and Security Agreement without Perkins Ranch's approval. When the Buyer settles, the copy of the Buyer's Acknowledgment of Purchase and Security Agreement must be presented. Texas law holds anyone who signs a check liable for the full amount. In the event that any check issued by a party is returned as "insufficient funds", "payment stopped", account closed", or for any other reason fails to clear the bank of the drawee, the party will be prosecuted to the fullest extent of the law, and all legal and equitable remedies will be available to them, including interest, court costs, and attorney fees. Any payment given as settlement will be secured by obtaining legal counsel in whatever jurisdiction is necessary. All costs, including attorney's fees, incurred by Perkins Ranch shall be the responsibility of the paying party.

CONDITION NO. 6 – DEFAULT

If a bid is successfully won, the Buyer shall be responsible for the full purchase price, as stated, for the horse. Conditions No. 5 declares in default any buyer who fails to make settlement as described therein. In the event of a default, the Owner/Seller, Perkins Ranch and/or Perkins Ranch Parties may bring suit against the default party, claiming all costs, including attorney's fees, incurred by the Owner/Seller, Perkins Ranch and/or Perkins Ranch Parties in collecting amounts owing, or in enforcing or interpreting the sale terms.

CONDITION NO. 7 – WARRANTIES

ANY HORSE SOLD IN THIS SALE IS PROVIDED EXPRESSLY OR IMPLIEDLY WITH NO WARRANTY OR REPRESENTATION OF SOUNDNESS, FITNESS, MERCHANTABILITY, OR FITNESS BY THE LESSOR, OWNER, PERKINS RANCH PARTIES, OR CONTRACTORS. There are no express or implied warranties of fitness for a particular purpose or merchantability with respect to the horses offered for sale "AS IS, WHERE IS, WITH ALL FAULTS AND DEFECTS". A guarantee made by the Seller/Owner in the website description is solely between the Buyer and the Seller/Owner.

CONDITION NO. 8. – BROODMARES

It is not guaranteed that any horse offered for sale will be pregnant, that any horse will be foaled, or that any horse will be fertile, by Perkons Ranch or any Perkins Ranch Parties. In the case of broodmares, the final pregnancy status will be announced at the time of sale by the Seller and will take precedence over printed material in the catalog or in advertising. In any contractual agreements between owners of broodmares and owners of stallions with whom these mares were bred, the Buyer and Seller are solely responsible.

CONDITION NO. 9 - CATALOG & ANNOUNCEMENTS

It is the sole responsibility of the Owner/Seller to ensure that all information in the catalog is accurate. Owner/Seller is solely responsible for verifying the accuracy of information obtained by Perkins Ranch from third parties on their behalf. Any omission or error in the description of the horse, or verbal or written statements regarding the horse, are not the responsibility of Perkins Ranch, Perkins Ranch Parties, or any representative thereof.

CONDITION NO. 10 - REGISTRATION CERTIFICATES

Perkins Ranch will hold all copies of registration certificates, transfer reports, breeders' certificates, and registration applications until the Buyer's payment clears the drawee's bank and becomes an unconditional credit. Perkins Ranch will forward all applicable paperwork to the American Quarter Horse Association (AQHA) upon payment clearance. It is the responsibility of the Owner/Seller to pay all transfer fees that are applicable.

B. At the time of sale, AQHA will return to the Owner/Seller any pending registration applications it is currently processing, which the Owner/Seller is then required to deliver to Perkins Ranch. The registration certificate and transfer report will then be forwarded to AQHA by Perkins Ranch.

CONDITION NO. 11 - AUCTIONEER DISCLAIMER

Perkins Ranch may approve horses for consignment that were originally purchased from Perkins Ranch. In no way does Perkins Ranch, Perkins Ranch Parties, or a representative thereof represent or act as agents for the Buyer or Owner/Seller, but simply facilitates the transaction between them. The marketability or suitability of any horse for a particular purpose is not guaranteed by Perkins Ranch, Perkins Ranch Parties or any representative thereof.

CONDITION NO. 12 – DISPUTES

If any dispute should arise between Owner/Seller and Perkins Ranch or Perkins Ranch Parties or Buyer and Perkins Ranch or Perkins Ranch Parties, all controversies, claims, differences, disputes, or any other matters arising from Perkins Ranch's or Perkins Ranch Parties' relationship to any party in the matters stated in these Conditions of Sale (the claims) as well as any other matters for which Perkins Ranch or Perkins Ranch has provided any type of service, whether or not those matters are encompassed within this document (including, but not limited to commissions, compensation for fees, and/or expenses) shall be settled conclusively, finally, and completely through binding arbitration in Clarksville, Red River County, Texas, with the assistance of one or more arbitrators selected in accordance with the American Arbitration Association's Commercial Arbitration Rules (the "Rules"). There will be no appeals from an arbitrator's decision and it shall be final and conclusive as to the parties; a court judgment may be entered thereon in Red River County, Texas, to enforce the arbitrator's decision. The Arbitrator's decisions are final and conclusive, and judgments may be entered in the District Court of Red River County, Texas, to enforce the decision and benefits thereof. Any arbitration conducted in accordance with this paragraph shall be private and confidential, and no one except the arbitrator(s), the stenographer (if requested), the parties, their attorneys, or representatives designated by the parties will be permitted to attend the hearings.In accordance with the arbitration agreement, disputes subject to arbitration, the hearings and proceedings thereunder, and the arbitration award are to be kept strictly confidential by the parties and shall not be discussed, divulged or communicated with third parties.

Records of the proceeding may be sealed on request of any party and cannot be disclosed except to the extent necessary to enforce the arbitration award and any enforcing judgment. Upon winning an arbitration, the prevailing party is entitled to recover reasonable and necessary attorneys' fees and arbitration costs. In respect of any litigation arising from or connected with this auction, all Owners/Sellers, Buyers, bidders, and attendees waive any right to a trial by jury.

CONDITION NO. 13 - VET CHECKS

Perkins Ranch encourages everyone to review our vet checks with their own veterinarian to fully evaluate the reports available. Vet checks, are in no way, expected to prove an animal “flawless” or suitable for any particular purpose, rather, this practice merely enables a potential buyer or buyer to determine the suitability of a particular horse by analyzing the information made available and consulting with their own experts and/or professionals to make a final decision.