It is understood and Agreed that:

1. The items will be sold by Maynards Industries Ltd. (Maynards), to the highest bidder, unless subject to agreed Reserves.
2. A negotiated auction commission will be charged by Maynards on the gross sale price of the item(s) and bourne by the consignor.  (Standard Commission rates per item are 20% up to $3000, 15% from $3001-$5000, and 12 1/2% above $5000)  
3. Maynards will charge and retain from the buyers a buyer's premium on the gross sale price of the item(s).
4. Maynards reserves the right to designate lot size of items.
5. Over and above the auction commission as in paragraph "2", Maynards shall charge a negotiated fee or percentage of the gross proceeds realized on the items to cover advertising expenses.
6. Items unsold or unclaimed at the auction sale must be claimed by the consignor at his/her own expense.  Maynards act as an agent only and does not guarantee any or all items will be sold.
7. In addition to any other damages Maynards may be shown to suffer, if any of the consignor's items are withdrawn from the auction sale in breach of this consignment contract, Maynards shall be entitled from the consignor to the commission based on the market value of the item(s) so withdrawn, together with the advertising and any other expenses incurred with respect to the such item(s).
8. The consignor represents and warrants to Maynards that the item(s) are free and clear of all liens and encumbrances and are not subject to the collection of any Excise tax, Custom Duty or any other taxes or duties by any reason whatsoever.
9. The consignor will indemnify and save harmless Maynards against all legal suits, actions, costs or charges, including actual legal fees, whatsoever, in respect to any charges or encumbrances or defects in title on or to the item(s) not disclosed pursuant to paragraph "8" or in connection with which the proceeds of the sale are insufficient to discharge.
10. All motor vehicle transfer papers, registrations or ownership papers will be delivered by the consignor to Maynards prior to the auction.
11. The consignor will carry full insurance on the item(s) terminating Twenty (20) days after the sale. All perils are at risk of the consignor. Maynards act as agent only.
12. Maynards will deliver to the consignor within Twenty-one (21) days following the auction sale, all monies collected, less the auction commission, delivery charges if applicable, and any other costs mutually agreed upon, that were incurred to present the items in salable condition.
13. The item(s) will be delivered by the consignor to the sale site by the agreed-upon date and time.