The application for the license required by § 834.03 shall contain the name and residence address of the applicant, the address where the personal property is to be offered for the sale, the dates on which the sale shall be conducted, a general description of all the tangible personal property to be included in the sale and a statement as to whether or not such tangible personal property belongs exclusively to the applicant and, if not, the names and addresses of the other owners. In addition, the application shall contain a space for a written acknowledgment by the applicant that he or she is fully aware of the provisions of this chapter, that he or she agrees to abide by such requirements and that he or she understands that he or she may be penalized under § 834.99 for failure to comply with this chapter.