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                           North American Danish Warmblood Association

                                    2012 Stallion Service Auction

Bidding Agreement

The 2012 NADWA Stallion Auction shall be governed by the following terms and conditions:

1. Bidding opens Tuesday, January 10, 2012 at 8 am CST. Bidding is done online at
the 32auctions site only. Bidding closes Wednesday February 15, 2012 at 12:00 am

2. The minimum bid shall be Five Hundred Dollars ($500 USD) unless otherwise

3. Bids cannot be retracted, so it is imperative that you are sure of your bids before
they are placed. Minimum bid increments are $25. Bids are binding and cannot be
withdrawn after auction closes. No refunds will be given.

4. The winning bidder will be notified via email and/or phone within 3 working days
after the auction closing. In the case of a tie bid, the earlier entry time online will be
declared the winner.

5. Payment on winning bids may be made by personal check or money order payable
to NADWA. Paypal payments are also accepted. Payment on winning bids MUST be
received by March 1, 2012 or the winning bidder forfeits the bid and the next highest
bidder will then be declared the winner. Stallion owner will not ship semen or service
any mare until they have been notified that payment has been received by NADWA.

6. Winning bidder must then enter into a breeding service contract supplied by the
Stallion Owners. The winning bidder agrees to abide by terms of the stallion owner’s
Breeding Contract, and to pay for any additional fees or charges including but not
limited to booking fees, per day mare care, veterinary expenses, cost associated
with frozen or fresh semen collection and shipment, foal registration fees etc.
Registration of the foal resulting from this breeding is subject to all the established
rules and regulations of the stallion’s Breed Association. Bidders are strongly
advised to obtain a copy of the stallion owner’s Breeding Contract prior to submitting
a bid.

7. Should the stallion owner deem winning bidder's mare unfit to enter into the
breeding service contract, the bidder has the option to substitute an acceptable
mare, or forfeit the bid and receive a refund. In the event of a forfeiture, the next
highest bidder will then be declared the winner; they will be notified within (3) days
of the forfeiture of the winning bid, and has until March 20, 2012 to enter into a
breeding service contract and forward bid payment to the NADWA Treasurer.

8. The stallion services being offered are for the 2012 breeding season. Should a
stallion become unfit for service, die or be gelded prior to servicing the winning
bidder’s mare, only money paid to NADWA for the auctioned stallion service will be
refunded and shall constitute payment in full for any damage that may be incurred by
the bidder and/or his agent.

9. The bidder agrees and acknowledges that he/she fully realizes and accepts that
there is a possible danger of injury, sickness, or death involved in the breeding of
horses and the attendant care of the mare. The bidder voluntarily assumes all risk of
accident, injury, sickness or death to said mare and specifically releases the North
American Danish Warmblood Association, its directors, officers, employees and
agents from all liability for any and all injury to, disability suffered by, or sickness or
death of the mare or foal from any cause whatsoever, and specifically waives any
and all claims resulting from such injury, disability, sickness or death.

10. The bidder specifically acknowledges and understands that the North American
Danish Warmblood Association (NADWA) is acting only as a clearinghouse in
providing the Stallion Service Auction to breeders and that the stallion owner in turn
has agreed to contribute the purchase price of the stallion service fee to benefit the
activities of NADWA. NADWA assumes no liability for disputes that may arise
between bidders and stallion owners. There are, specifically, no guarantees of
conception or delivery of a live foal.

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