Columbus Hydraulics Company hereby warrants any new equipment sold by it to be free from defects in material and workmanship in normal use and service. It is expressly understood that Columbus Hydraulics Company does not assume any liability for incidental or consequential damages arising out of the sale including damages arising out of breach of warranty. Buyer’s sole remedy and the sole liability of Columbus Hydraulics Company arising out of this transaction shall be repair or replacement without charge F.O.B. Columbus, Nebraska, of a defective item returned within 12 months from the date of delivery. This warranty and obligation of Columbus Hydraulics Company contained herein is in lieu of all other warranties expressed or implied including any warranties of fitness for a particular purpose or merchantability and of any other obligations or liability on the part of Columbus Hydraulics Company. Any action for breach of warranty arising out this transaction must be commenced within one year after the court of action accrues.