PROCEDURE; CONDUCT OF AUCTION: The Property will be offered as a single tract. The conduct of the Auction will be at the direction and discretion of the Auction Company and Broker, Seller and its agents reserve the right to preclude any person from bidding if there is any question as to the person's identity, credentials, fitness, etc.

BUYER'S PREMIUM: The contract purchase price will include a Buyer's Premium equal to 4% of the bid amount.

DOWN PAYMENT: 10% of the total contract purchase price will be due as a down payment on the day of auction, with the balance due in cash at closing. The down payment may be made in the form of cashier's 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.

APPROVAL OF BID PRICES: All successful bidders will be required to enter into purchase agreements at the auction site immediately following the close of the auction. The auction bids are subject to the acceptance or rejection by the Seller.

DEED: Seller shall be obligated only to convey title by Special Warranty Deed.

EVIDENCE OF TITLE: Seller agrees to make available to bidder(s) a preliminary title insurance commitment to review prior to auction. If a Buyer elects to purchase a standard coverage ALTA Owner's Title Policy, Seller shall give Buyer a credit against the Purchase Price. Said Title Policy shall be in the amount of the purchase price insuring marketable title to the Purchased Tracts in the name of Buyer, subject to all standard requirements, conditions and exceptions and subject to the Permitted Exceptions. The cost of any lender's title insurance shall be charged to Buyer.

CLOSING: The closing shall take place 45 days after the auction or as soon thereafter as applicable closing documents are completed by Seller.

POSSESSION: Possession shall be at closing.

SURVEY: A new survey will be obtained only if necessary to record the conveyance or if otherwise deemed appropriate in the Seller’s sole discretion. If a new survey is obtained, the survey cost will be shared equally by Seller and Buyer.

TRACT MAPS; ACRES, DIMENSIONS: Tract maps, advertised acres, building dimensions and square footages are approximations based on existing tax parcel data, legal descriptions &/or aerial mapping data and are not provided as survey products.

REAL ESTATE TAXES: Real Estate taxes shall be prorated to the date of closing.

MINERALS: Seller specifically excepts and reserves all minerals, including without limitation, oil, gas, coal, coalbed methane, and all other hydrocarbons, lignite, and all metallic minerals, etc., if any, associated with the referenced real estate, and the term “Property” will not include any mineral rights.

AGENCY: C. Brent Wellings - Broker, Schrader Real Estate and Auction Company, Inc., and their representatives are exclusive agents of the Seller.

DISCLAIMER AND ABSENCE OF WARRANTIES: ALL PROPERTY IS OFFERED "AS IS, WHERE IS". NO WARRANTY OR REPRESENTATION, STATED OR IMPLIED, IS MADE BY SELLER OR AUCTION COMPANY CONCERNING THE PROPERTY. Prospective bidders are responsible for conducting their own independent inspections, investigations, inquiries and due diligence concerning the property. The information contained in the marketing materials is provided in order to facilitate (and not as a substitute for) a prospective bidder's pre-auction due diligence. All marketing materials are subject to a prospective bidder’s independent verification. Seller and Auction Company assume no liability for any inaccuracies, errors or omissions in such materials. All sketches and dimensions are approximate.

CHANGES: Please regularly check www.schraderauction.com and www.schraderwellings.com to review any changes and/or additional information. THE PURCHASE CONTRACT DOCUMENTS WILL SUPERSEDE THE MARKETING MATERIALS AND ANY OTHER PRIOR STATEMENTS.

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