Virginia College Auction Release and Indemnity Document 2/4/2021 Auction

HENDERSON AUCTIONS 13340 Florida Blvd. P.O. Box 336 Livingston, LA 70754 PHONE (225) 686-2252 FAX (225) 686-0647

“ Seller ”: Virginia College

“ Auctioneer ”: J.A.H. Enterprises, Inc. d/b/a Henderson Auctions

“ Purchaser ”: ___________________________________________________________________

Address: __________________________________________________________________

Phone: __________________________________________________________________

Email: __________________________________________________________________

“ Contractor ”: __________________________________________________________________

Address: __________________________________________________________________

Phone: __________________________________________________________________

Email: __________________________________________________________________

“ Purchased Items ”: Those items purchased by Purchaser in Virginia College Liquidation Auction

by Auctioneer for Seller.

1. I hereby waive and release any and all claims, causes of action, or liability of any

kind resulting from, related to, or arising out of the Purchased Items, including but not limited to

any claims, causes of action or liability of any kind, for bodily injury, property damage, physical

injury, or any other damage, resulting from, related to, or arising out of, the purchase of the

Purchased Items, the removal of or disconnection of any Purchased Items from the premises that

I may now or in the future have against Seller or Auctioneer, including their shareholders,

directors, members, manager, officers, employees, successors, and assigns.

2. I hereby acknowledge and agree that the Purchased Items may include items which

pose environmental and safety risks if not properly disconnected and removed from the premises.

Purchaser acknowledges and agrees that it is Purchaser’s responsibility to disconnect and remove

the Purchased Items from the premises and Purchaser is liable for any damages sustained by Seller

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or Auctioneer resulting from or related to this removal or disconnection. Purchaser represents and

warrants that it has employed a licensed, insured, and properly qualified Contractor to disconnect

and remove any Purchased Item which may pose environmental and safety risks if not removed

by a licensed and qualified individual or entity. Contractor represents and warrants that it is

licensed, insured, and qualified to remove the Purchased Items from the premises.

3. I hereby agree to defend, indemnify, and hold harmless Seller and Auctioneer and

their shareholders, directors, members, managers, officers, employees, successors, assigns from

any and all claims, causes of action, or liability of any kind resulting from, related to, or arising

out of the Purchased Items, including but not limited to any claims, causes of action, or liability of

any kind, for bodily injury, property damage, physical injury, or any other damage, resulting from,

related to, or arising out of the removal of or disconnection of any Purchased Item from the

premises.

4. I hereby acknowledge, agree, and accept the Purchased Items “as is, where is, with

any and all faults.” The Purchased Items are being conveyed by Seller and Auctioneer without any

warranty of any kind as to condition, operability, safety, or fitness and without regard to the

suitability of the Purchased Items for the use intended by the Purchaser, or any other use, or to the

presence of apparent or hidden defects and with Purchaser’s full and complete waiver of any and

all rights for the return of all or any part of the Purchase Price by the reason of any such defects.

Dated: _______________________

By: __________________________________

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[Special Terms 2/4 Virginia College Auction]

1. Purchaser hereby agrees to defend, indemnify, and hold harmless Seller and

Auctioneer and their shareholders, directors, members, managers, officers, employees, successors,

assigns from any and all claims, causes of action, or liability of any kind resulting from, related to,

or arising out of the Purchased Items, including but not limited to any claims, causes of action, or

liability of any kind, for bodily injury, property damage, physical injury, or any other damage,

resulting from, related to, or arising out of the purchase of the Purchased Items, the removal of or

disconnection of any Purchased Items from the premises.

2. Purchaser hereby acknowledges that the Purchased Items may include items such

as air conditioning units, alarm systems, refrigeration units, heating units, sinks, etc., which may

pose environmental and safety risks if not properly disconnected and removed from the premises.

Purchaser acknowledges and agrees that it is Purchaser’s responsibility to disconnect and remove

the Purchased Items from the premises and Purchaser is liable for any damages sustained by Seller

or Auctioneer resulting from or related to this removal or disconnection. Purchaser hereby agrees

and warrants that it will hire licensed, insured, and qualified contractors to perform any necessary

disconnection and removal of the Purchased Items from the premises.

3. Purchaser hereby acknowledges, agrees, and accepts the Purchased Items “as is,

where is, with any and all faults.” The Purchased Items are being conveyed by Seller and

Auctioneer and accepted by Purchaser without any warranty of any kind as to condition,

operability, safety, or fitness and without regard to the suitability of the Purchased Items for the

use intended by the Purchaser, or any other use, or to the presence of apparent or hidden defects

and with Purchaser’s full and complete waiver of any and all rights for the return of all or any part

of the Purchase Price by the reason of any such defects. Purchaser acknowledges and agrees that

Seller and Auctioneer shall have no liability for, and that Purchaser shall have no recourse against

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Seller and Auctioneer for, any defect or deficiency of any kind whatsoever (whether patent or

latent and whether discovered or discoverable by Seller, Auctioneer, or Purchaser) in the

Purchased Items. Purchaser further acknowledges and agrees that neither Seller nor Auctioneer

has made and does not make and Seller and Auctioneer expressly disclaim any other

representations or warranties as to the assets including any implied warranties of merchantability

or fitness for particular purpose. Purchaser expressly waives (a) warranty of fitness and the

warranty against redhibitory vices and defects, whether apparent or latent, imposed by Louisiana

Civil Code Articles 2475 and 2500, and other applicable state or federal law, and the jurisprudence

thereunder, and (b) any rights it may have in redhibition or to a reduction of purchase price

pursuant to Louisiana Civil Code Articles 2520 through 2548, inclusive, in connection with the

Purchased Items.

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