PROCEDURE: The property will be offered in 21 individual tracts, any combination of tracts and as a total unit except with respect to Tracts 20 and 21 which may only be bid on individually or in combination with one another. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. Bids on tracts, tract combinations and the total property may compete except for the limitations on Tracts 20 and 21 as mentioned above.

BUYERS PREMIUM: The contract purchase price will include a Buyers Premium equal to 2% of the bid amount.

DOWN PAYMENT: 10% down payment on the day of auction. The down payment may be made in the form of cashiers check, personal check, or corporate check. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, so be sure you have arranged financing, if needed, and are capable of paying cash at closing.

ACCEPTANCE OF BID PRICES: The successful bidder(s) will be required to enter into a Purchase Agreement at the auction site immediately following the close of the auction. The final bid prices are subject to the Sellers acceptance or rejection. The acceptance deadline shall expire not sooner than the end of the 2nd business day following the auction.

DEED: Seller shall provide a Warranty Deed with corporation provisions as applicable, sufficient to convey insurable title to the real estate. Real estate is sold subject to all rights of way, legal highways, leases, easements of public record, and all other matters of public record.

EVIDENCE OF TITLE: Seller shall provide a preliminary title insurance commitment for review prior to the auction. Seller agrees to furnish Buyer(s), at Sellers expense, an updated title commitment prior to closing. The cost of providing an Owners Title Policy shall be paid for by Seller at closing.

CLOSING: The balance of the purchase price is due at closing, which will take place on or before 30 days after the auction, or as soon thereafter as applicable closing documents are completed by the Seller. Costs for an administered closing shall be shared 50:50 between Buyer(s) and Seller.

POSSESSION: Possession is at closing, subject to the rights of tenants and occupants as such rights may exist at the time of closing.

REAL ESTATE TAXES: Seller shall pay the real estate taxes for the first part of the calendar year in which the closing occurs, prorated to the date of closing on a calendar year basis. Buyer(s) shall assume any taxes thereafter. Buyer(s) shall assume any drainage or other assessments that are last payable without a penalty after the date of closing.

ACREAGE: All tract acreages, dimensions, and proposed boundaries are approximate and have been estimated based on Jasper County Assessors property record cards, the Subdivision Plat and County GIS.

SURVEY: It is expected that the property will be conveyed using existing legal descriptions, without a new survey. A new survey will not be provided except as may be required by law to complete the transaction or as may be deemed necessary in Sellers sole discretion. If a new survey is provided, the survey costs shall be shared equally (50:50) between Buyer and Seller. If a new survey is provided, the purchase price shall not be subject to adjustment regardless of the number of acres shown in any survey.

LEASES: At closing, the Leases and Post-Closing rent will be assigned to the respective Buyer(s). Rent paid in advance will be prorated to the date of closing with the post-closing portion credited to the Buyer at closing. The Buyer(s) shall receive a credit in the amount of any tenant security deposits held in connection with any leases and the Buyer(s) shall then assume all obligations with respect to such security deposits.

PLANNING APPROVAL: The sale of the property is subject to any necessary governmental planning approval or other necessary governmental approval. Any construction on the property may require governmental approval.

PROPERTY INSPECTION: Each potential bidder is responsible for conducting, at their own risk, their own independent inspections, investigations, inquiries and due diligence concerning the property. Inspection dates have been scheduled and will be staffed with auction personnel. Further, Seller disclaims any and all responsibility for bidders safety during any physical inspection of the property. No party shall be deemed an invitee of the property by virtue of the offering of the property for sale.

EASEMENTS: Subject to any and all existing easements.

AGENCY: Schrader Real Estate & Auction Company, Inc. and its representatives are exclusive agents of the Seller.

DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the Purchase Agreement. The property is being sold on an AS IS, WHERE IS basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the persons credentials, fitness, etc. All decisions of the Auctioneer are final.

ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.

Auction Brochure

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