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PROPERTY DISPOSITION SERVICES AGREEMENT <br />TERMS AND CONDITIONS <br />credit card information); approving Buyer credit card purchase transactions; and collecting auction <br />proceeds for completed sales from Buyers. PRC shall use reasonable commercial efforts in auctioning and <br />selling the Property on the Internet and disposing of Property that does not sell at auction. PRC shall sell <br />and dispose of al] Property "as is" without any liability to the Owner. PRC is solely responsible for <br />identifying and resolving sales and use tax collection issues arising from Property sales, including the <br />necessity of charging and collecting such taxes. <br />b. Large Property Items. PRC will, at Owner's request and on Owner's behalf as its representative, list <br />physically large Property ("Large-Items' for sale by auction, including but not limited to cars, trucks, <br />boats, planes and bulk lots of bicycles. For Large-Items, PRC offers Owner different selling options <br />("Silver," "Gold" and "Platinum', each with different service components and associated pricing. <br />(1) In-Place Options. For Silver and Gold, PRC will auction Large-Items in-place, and in this context, <br />`Sn-place" means that PRC will not pick-up and store these specific Items but rather Owner will <br />maintain physical control until transfer of title to such Large-Items to Buyers. <br />(2) Haul-away Option. For Platinum, PRC will, in conjunction with an agent or subcontractor of PRC <br />and to the extent practical, pick-up and haul-away Large-items, selling via online auction and <br />t<'ansferring title and physical possession to Buyers as described in Portable Property Items. <br />(3) Large-Item Service Summary, The Large-Item Auction Services Option Table below depicts service <br />components associated with each option. <br />~ r. <br />~,~i~ Catnpgn~e? <br />1. List Large-Item for online auction <br />2. Checklist review and coordination <br />3. Listing write-up and marketing <br />4. Auction. and auction technology man; <br />5. Customer Support to Bidders <br />6. Coordmate Buyer payment and Large <br />7. TranSflCtltm ~nAVmn„tl mnnnn..:_... <br />o. riit~wgrdprIIIl , yemcle review <br />9. Provide ar procure asset title d <br />as <br />PRC <br />PRC <br />Owner <br />Owner <br />ORRIef <br />Owner <br />Owner <br />YKC PRC <br />PRC PRC <br />PRC PRC <br />PRC PRC <br />PRC PRC <br />PRC PRC <br />PRC PRC <br />Owner PRC <br />Ownet Owner* <br />iu. ricx and haul-awa for off- remises online auction PRC <br />* PRC provides its Platinum service in cooperation with C <br />opart, Inc., ("CPRT'~ a publicly traded US <br />company with over 140 geographically-dispersed vehicle storage facilities. <br />** At Owner request, PRC and CPRT will acquire title documentation through an agent or subcontractor of <br />PRC. <br />4. Term and Termination. <br />a. The Agreement wil} become effective upon formation (the `affective Date's and will continue for an initial <br />term of one (1) year from the Effective Date and thereafter will automatically renew for consecutive one (1) <br />year teams unless written notice of non-renewal is provided by either party to the other at least sixty (60) <br />days prior to the expiration of the then current term. <br />b. The Agreement may be terminated if there is a breach by either party of any obligation, representation or <br />warranty contained in the Agreement, upon thirty (30) days prior written notice to the other party unless the <br />breach is cured within the thirty (30) day period, provided, however, if the breach is not .capable of being <br />cured within thirty (30) days, the breaching party will have a reasonable amount of time to cure the breach <br />if it begins to cure during the thirty (30) day period and proceeds diligently thereafter. The written notice <br />will specify the precise nature of the breach. <br />2 of 8 <br />