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PROPER'rY DISPOSITION SERVICES AGREEMENT
<br />PRC collects and retains a 15% Buyer `s Premium, $1 50.00 (0.15 x $1,000 ), from Buyer. With regard to
<br />coll.ecring the Sales- Price and s-har-ing, proceeds, the approach differs by option:
<br />Silver. Owner co-mpC.etes the sale by collecting the $1,000.00 Sales Price froill Bcryer, retaining
<br />1 0011/0 as Owner's Net Proceeds.
<br />Gold. PRC completes the sale by collecting the $1,0 0..00 Sales Price from buyer. The
<br />underlying winning laid is shared 95% by Owner, $950 (0.95 x $ 1,000) and 5% by PRC, TNerefore
<br />a 3% ($30.00) Credit Card Cost is split 95% by Owner, $28.50- (0.05 x 30) and 5 %- by PRC,
<br />$1.50 (0.0 -5 x $30 ). The Owner's Not Proceeds are $921.50 ($'950.00 less S-2$.50).
<br />Gold-Plus. PRC completes the sale as descr-ih -ed in Gold, but with H. 90 -10 Split.
<br />Platinum. PRC cc mpl ete the sale as described in Gold, but with a 70-30 Split and- with a
<br />deduction of any title acquisition pass-fl rough fees.
<br />6. Payment Tez-ms, Once ever} month, PRC will pay to Owner the amount of Owner's Net Proceeds payable for
<br />completed sales d -u ing the preceding month. Sales are deemed completed when all itcr�zs c0rnprisirt� a iin.e item
<br />on the original nianifest or other list of Property are sold. with each payment Of O %vncr-'s Net Proceeds,, PRC
<br />�r.jll rnake available to Owner a detailed report setting forth the following information for the Inimediate-1y
<br />pi- eceding month:
<br />a, The comple -ted sales during the prior month'. including the total amount of related proceeds collected,
<br />Owner and PRC share of Processing Costs, and th-e Owners Net Proceeds;
<br />b. Other dispositions of Property during the rn- onth.; and
<br />C. The Property, i f any, inventoried by PRC at the end of the r onih,
<br />Property, oo-rn's Obligations Concerning Property In Its Possession. With respect to Property in PRC's
<br />Possessiari:
<br />a. FRC wilt exercise due care in the handling aid storage of any Property;
<br />b. PRC shall keep the Property free of liens, security interests, and enconibraince s, and shall pay when. due a l-1
<br />tees and charges with respect to the Properry. .
<br />c. PRC shall sign and de11ver to Owner any- U& -I financing st ate rrrcrits or other docram -etits reasonably
<br />requesLtd by Owner', and
<br />d. PRC shall obtain and maintain insurance in an amount (det-en-nine-d by PRC) not less tharl the repla.ccrnent
<br />value of P rope rty its its possession, The insurance will cover the Property against fire, theft, and e xte rlded
<br />coverage i 1sks o- rdinaril y included in similar policies. PRC shall give Owner- a certificate or a copy Q f eaclr
<br />of the above upon Owner's request.
<br />Owner Obligations, Owner will use its best efforts to provide to PRC such Property as becomes available for
<br />sale to the public. Owner will complete paperwork reasonably necessary to convey custodial possession of the
<br />iter n of Property to PRC, including a written manifest or list that describes the item of Property in sufficient
<br />detail fbr identi- fi°cation. Owwr agrees that it will not provide Property that is illegal o.r hazardous, including bu.t
<br />not limited to. explosives, f 1.rearn } counterfeit or unauthorized copyrighted ma.teri a l ("knock-offs"), poisons or
<br />pharmac euti ca 1 s. In addition, to help comply with ptibl is notification statutes as well as- to support intenret
<br />traffic 0-ow to the PRC auction website, Owner agrees to place a per nianent clickable link (thc- "Lurk") to
<br />� �v� f_Prope�'Cy oox. ,corT� on one or more Owner websites. PRC will supply Link technical retluirenr.ents, text
<br />and images to Owner.
<br />9. Restriction -s on. Bidtling. PRC and its employees and agents may not directly or indirectly bid for o -z purchase
<br />auctioned Property on the PRA web site.
<br />10. Representations and NVaeranties of Owner. weer, h -ereby represents, warrants and covenants as follows:
<br />a, Pic p cr-ty d el ive rcd to PR.0 is a vai lab le for sale to the geiiera l public without any r'estrrc -tuns or cord 111.0 t -is
<br />whatever; and
<br />b. 0wrler has taken all required actions undcr applicable law that are conditions precedent to Owner's right, to
<br />tra:r Ys fer Title to the Property to Buyers, (the " c n d.itio ns P reced ent")-
<br />l l . Books and Records. PRC will beep cornplctc and accurate books of account, records, and other documents
<br />wLth respect to. this Agreement (the 'Tooks and Re- cords "); for a.t least three (3) years follow.l.ng expiration or
<br />teriUna -tion of this- Agreument. Upon r•ea- s.onable notice, the kooks and Records will be available for inspection
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