TERMS OF THE AUCTION

All persons who register to bid agree to the following terms of the auction.

Auctioneer Michael Gray and Mossy Oak Properties Field, Farm and Homes are acting solely as agents for the Seller and not as agents for any Bidder or Buyer. Bidder agrees and understands that they are not being represented by Auctioneer Michael Gray and Mossy Oak Properties Field, Farm and Homes.

The property is being offered in “AS IS, WHERE IS” condition and shall be conveyed subject to all conditions, easements, restrictions, covenants, right of ways, title exceptions, and matters of record. Bidder should obtain professional advice and conduct due diligence on the property and any information provided by the Seller, Auctioneer and Mossy Oak Properties Field, Farm and Homes. Bidder is encouraged to conduct any desired inspections prior to the auction. All information provided to the Bidder by the Auctioneer, Seller and Mossy Oak Properties Field, Farm and Homes is believed to be accurate but no warranty or guarantee is being made about the accuracy or completeness of the information.

The winning Bidder at auction will be required to tender a non-refundable deposit of 10% of the winning bid dollar amount by electronic funds transfer within 24 hours of receiving notice that Bidder has submitted the winning bid. The amount of the non-refundable deposit shall not exceed $10,000. The non-refundable deposit shall be deposited into the account of the closing company chosen by the Seller and will be provided by Mossy Oak Properties Field, Farm and Homes to the winning Bidder.

The winning Bidder will be required to pay a 10% buyer’s premium which will be added to the winning bid amount to determine the final contract price. The winning Bidder is legally obligated to purchase the property at the final contract price. For example, if the winning bid was $100,000 then the 10% buyer’s premium would equal $10,000. The final contract price would equal $110,000. The winning Bidder is required to complete the purchase agreement provided by Mossy Oak Properties Field, Farm and Homes within 24 hours of receiving notice that Bidder has submitted the winning bid. All closing costs, fees and revenue stamps will be paid by the winning Bidder. The closing date will be no later than 30 calendar days after the auction date. Purchase of the property IS NOT contingent upon obtaining financing, appraisal value, survey or inspections.

Failure of the winning Bidder to provide the executed purchase agreement and the 10% non-refundable deposit within the stated above 24 hour timeframe shall constitute a default and breach of the agreement to purchase the property by the winning Bidder. The winning Bidder agrees that such default does grant the Seller and Mossy Oak Properties Field, Farm and Homes the legal right to seek the 10% non-refundable deposit as stated above from the winning Bidder. The winning Bidder also agrees that such default shall grant Mossy Oak Properties Field, Farm and Homes the additional legal right to seek attorney fees and a termination fee equal to the 10% buyer’s premium as stated above from the winning Bidder.

The Bidder agrees that Seller, Auctioneer and Mossy Oak Properties Field, Farm and Homes shall not be held responsible for any bid that was not received by the Auctioneer.

The Seller has reserved the right to consider any offer(s) that may be presented prior to the auction date and the Seller has reserved the right to cancel the auction.