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<br />TERMS AND CONDITIONS
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<br />1. Property to be Sold, From time to time, Owner will designate to PropertyBureau,com personal property that it
<br />desires to auction on the Internet Items of property designated and not rejected by PropertyBureau,com will be referred
<br />to collectively as "Property." An item of property will not become Property subject to this Agreement until Owner delivers
<br />to PropertyBureau,com a written notice in a form approved by PropertyBureau,com , which notice describes the item of
<br />Property in sufficient detail to identify it Notwithstanding anything herein to the contrary, PropertyBureau.com may at
<br />any time notify Owner that it rejects an item of property, in which case the item will cease to be Property subject to this
<br />Agreement as of the date of the notice.
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<br />2. Title. Title to the Property shall remain in Owner until the item of Property is purchased by auction or otherwise
<br />disposed of, at which time Owner will be deemed to have transferred title to the purchaser of the item of Property.
<br />Owner appoints PropertyBureau.com as its attorney-in-fact to sign any and all documents necessary to assign to
<br />purchasers of Property all of Owner's right title and interest in and to Property sold or disposed of. All cash receipts,
<br />accounts receivable, contract rights, notes, general intangibles, and other rights to payment of every kind, arising out of
<br />the sales and dispositions of Property (collectively the "Proceeds") belong to Owner, subject to PropertyBureau.com's
<br />right to PropertyBureau.com's Net Proceeds and funds attributable to Credit Card Costs and other transaction costs.
<br />Owner's Property shall, at all times before saie, be subject to the direction and control of Owner,
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<br />3. Method of Selling Property. PropertyBureau,com will on Owner's behalf list all Property for saie by auction to the
<br />public on the World Wide Web of the Internet on one or more domain names selected by PropertyBureau.com. To the
<br />extent that any Property is not soid by auction, PropertyBureau.com may, in any commercially reasonable manner
<br />selected by PropertyBureau,com, dispose of Property. PropertyBureau.com may determine all aspects, terms and
<br />conditions of auctions of Property and dispositions of Property not purchased at auction, subject to the ultimate control of
<br />Owner. PropertyBureau.com will be responsible for all phases of submitting the Property for auction, including, but not
<br />limited to, determining when Property will be auctioned, setting the opening and reserve prices of Property, if any;
<br />determining the selling price, setting the length of time a Product will be auctioned; creating text and graphics to describe
<br />and depict Property submitted for auction; collecting all purchaser information (such as purchaser'S name, billing
<br />address, shipping address, and credit card information); approving purchasers' credit card purchase transactions; and
<br />collecting auction proceeds for completed sales from purchasers, PropertyBureau.com shall use its best efforts in
<br />auctioning and selling the Property on the Internet and disposing of Property that does not sell at auction.
<br />PropertyBureau,com shall sell and dispose of all Property "as is" without any warranty liability to the Owner, including,
<br />but not limited to, any warranties of title. PropertyBureau,com is solely responsible for identifying and resolving sales
<br />and use tax collection issues arising from Property saies, including the necessity of charging and collecting such taxes.
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<br />4. Allocation of Sales Proceeds.
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<br />a. The price for a personal property item paid by the buyer shall be called the "Sales Price". The Sales Price
<br />shall include the Winning Bid Price of the item purchased and all costs, shipping and handling charges, taxes,
<br />and insurance costs associated with the transaction,
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<br />b. Owner will be credited with 50% (for items less than $1,000) or 75% (for Items equal to or more than
<br />$1000) of the Winning Bid Price of all items less the owner's pro rata share of fees and charges
<br />attributable to credit card purchases ("Credit Card Costs") and other transaction costs.
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<br />c, Credit Card Costs and other transaction costs will be borne by Owner and PropertyBureau,com in proportion
<br />to the percentage of the revenue credited to the parties for each underiying transaction,
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<br />d. Amounts received by PropertyBureau,com and Owner will be called "Net Proceeds".
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<br />The following example illustrates how proceeds of a sale are to be allocated, Assume an item of Property sells at
<br />auction for a Winning Bid Price of $100; the buyer pays shipping and handling of $10, insurance of $2, and taxes of $6.
<br />The buyer pays $118,00 by credit card, and the Credit Card Costs are 2% of the Sales Price. The Credit Card Cost IS
<br />therefore $2,36 ($118 x ,02), The Owner's and PropertyBureau.com's shares of Credit Card Costs are each $1.18; and
<br />the Owner's Net Proceeds and PropertyBureau,com's Net Proceeds are each $48.82.
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<br />5, Payment Terms. Not later than the 15th of each month, PropertyBureau.com will pay to Owner the amount of
<br />Owner's Net Proceeds payable for the preceding month. With each monthly payment, PropertyBureau.com Will deliver
<br />to Owner a detailed report of sales activity for the preceding month showing PropertyBureau,com's calculation of the
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