Buyer's Agreement

In order to ensure 2011 Lusitano Collection™ potential bidders or interested buyers are well informed as to the process for obtaining a bidding paddle, the forms of payment accepted, establishing credit, ownership certificates and transportation, among other important topics, we have posted the full Terms & Conditions of Sale below.

We urge all potential bidders to please review the Terms & Conditions of Sale located below in order to ensure that they are thoroughly informed in advance as to the processes explained above. We cannot accept any responsibility if bidders choose not to become familiar with these issues prior to the auction.

• Terms & Conditions of Sale

• Sample Letter of Credit

In an effort to respond frequently asked questions with regard to the process of obtaining a bidding paddle, forms of payment, Florida Sales Tax and transportation, we have put together answers to frequently asked questions below. However, please understand that interested buyers should read the full version of the Terms & Conditions of Sale as posted above, as it specifically explains in great detail, important information and clauses that are not discussed below.

Forms of Payment Accepted

• Cash

• Cashier’s/Certified Check

• Credit Cards all major credit cards accepted

• Corporate and Personal Check

• Wire Transfer

Note: Each form of payment may require a different process. Please read the Terms & Conditions of Sale and the Payment Process below.

Payment Process

• Non-Credit Purchasers:
  Buyers who wish to make payment with cash or cashier’s/certified check (“Non-Credit Purchasers”) or credit cards, must make full payment of the Purchase Price plus Florida’s State Sales and Use Tax in the amount of 6.5% (“Sales Tax Payment”) and transportation costs; full payment must be made no later than midnight on Saturday, February 27, 2010.

• Credit Purchasers:
  Buyers who wish to make payment with a corporate or personal check and/or wire transfer (“Credit Purchasers”), must have previously established credit with Seller/The Lusitano Collection. In order to establish credit, buyer must provide a Letter of Credit on or before February 19, 2010 from a recognized bank. The Letter of Credit must be in substantially the same form as posted above. The Seller or its designee will inform the buyer within three (3) business days of receipt of the Letter of Credit whether it will accept the Letter of Credit provided.

All Credit Purchasers are responsible for the following payments no later than midnight on Saturday, February 27, 2010:

• 10% of the Purchase Price

• Florida’s State Sales and Use Tax in the amount of 6.5%

• Transportation costs

Credit Purchasers must pay the remaining 90% of the Purchase Price via bank wire transfer or credit card no later than Wednesday, March 3, 2010. All major credit cards accepted.

Seller shall provide the Credit Purchaser with wire transfer instructions at the time when the Credit Purchaser pays the 10% Deposit, Florida’s State Sales and use Tax and Transportation costs.

Florida State Sales and Use Tax:

All Purchasers shall be required to pay the Sales Tax Payment. The Sales Tax Payment shall be made separately from the payment of the Deposit and/or Purchase Price. If the State of Florida requires the Seller to pay sales tax for any horse purchased at the auction, the Seller shall be entitled to deposit the Sales Tax Payment into the Seller´s account and utilize such Sales Tax Payment to comply with the tax laws of the State of Florida. If the State of Florida does not require the Seller to pay sales tax for any horse purchased at the auction, the Sales Tax Payment shall be returned to the Purchaser of that horse after receipt by Seller of written evidence of the arrival of the purchased horse to its final destination and presentation to Seller of a bill of lading, receipt of the balance of the Purchase Price by Seller (if applicable), and reimbursement to Seller for any transportation costs incurred by Seller on behalf of Purchaser. The payment office shall remain open until midnight on Saturday, February 27, 2010 (the night of the Sale) to process all deposits, payments and sales tax collection.

Horse Transportation:

The Lusitano Collection together with Lazcar International shipping company will coordinate and handle the shipping of all out of state horses, meaning all horses whose final destination after the sale is outside the State of Florida.

Lazcar International shipping company representative will be present on the night of the auction to provide purchasers with an estimated cost of the transportation depending on their final out of state destination and other possible horses going to that specific destination.

Purchasers who keep their horses within the State of Florida may choose to use the services of Lazcar International for the transportation of the horse and/or make their own transportation arrangements with a carrier of their choice.

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