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I. EQUIPMENT TERMS: ALL EQUIPMENT is being sold ABSOLUTE, WITHOUT RESERVE, to the highest bidder. 100% of the bid price is due on the day of sale. Upon purchase of any equipment, Buyer assumes all risk of loss and damage. Buyer shall remove the purchased equipment as soon as possible, but not later than June 13, 2014. Buyer assumes all responsibility in connection with the removal of the purchased equipment, including all expenses and all risk of loss, personal injury and/or damage to the purchased equipment or other property. If any certificate of title is not available at the time of sale, Buyer agrees to accept a replacement title to be procured by Seller as soon as possible after the sale. Any need for a replacement title will be announced at the time of sale.

II. REAL ESTATE TERMS:

ABSOLUTE SALE: All real estate is being sold ABSOLUTE, WITHOUT RESERVE, to the highest bidder.

BIDDING PROCEDURE: Bids will be accepted on individual tracts. Bids will not be accepted on combined tracts unless otherwise announced prior to bidding.

PURCHASE CONTRACT: The high bidder will sign a purchase contract in the form provided in the bidder packets. All information contained in this sale brochure and other marketing materials is subject to the terms and conditions contained in the written purchase contract. Seller shall not be bound by any statement, promise or inducement that is not contained or incorporated in the written purchase contract.

DOWN PAYMENT: 10% of the bid price is due on the day of sale, with the balance due in cash at closing. The down payment may be made in the form of a 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.

CLOSING: Closing will be on or before July 1, 2014, or as soon as possible thereafter upon completion of the survey (if applicable) and Sellers closing documents.

REAL ESTATE TAXES: Real estate taxes will be prorated to the date of closing.

POSSESSION: Unless otherwise announced prior to bidding: (i) possession will be delivered at closing; and (ii) Buyer may elect to begin farming the tillable land prior to closing with an additional 10% down payment, provided that Buyer signs and complies with an approved Pre-Closing Access Agreement. With respect to Tracts 7 and 8, the existing tenants will have been served with notice to vacate as of date a prior to closing. With respect to certain tract(s), the tillable land may be subject to tenants rights for the remainder of the 2014 crop year (and, with respect to those tracts, all 2014 rent will be assigned to Buyer). Updates regarding existing tenants will be announced prior to bidding. Contact the auction manager for updates in the meantime.

DELIVERY OF TITLE: The property will be conveyed free and clear of liens but otherwise subject to all matters of record and other permitted exceptions described in the purchase contract. Preliminary title insurance schedules will be available for review prior to the auction. If Buyer elects to purchase title insurance, Buyer shall be responsible for obtaining any such title insurance in a timely manner (without delaying the closing) and for paying all title insurance costs. The costs of the preliminary title work will be charged to the respective Buyers.

SURVEY: It is expected that all tracts will be conveyed using existing legal descriptions. A new survey will not be provided unless required to record the conveyance or unless otherwise deemed necessary or appropriate in Sellers sole discretion. If a new survey is provided, the cost will be charged to the Buyer.

TRACT DESCRIPTIONS: Tract maps and stated acres are approximations based on county parcel data, current legal descriptions and/or aerial mapping and are not provided as survey products. The stated tillable acres and sizes and dimensions of buildings and fixtures are approximations only.

III. ALL PROPERTY:

PROPERTY INSPECTION: An inspection date has been scheduled and will be staffed with auction personnel. Prospective bidders are responsible for conducting their own independent inspections, investigations, inquiries and due diligence review of the property. The information contained in this brochure and other marketing materials is subject to verification by all parties relying on it. Seller and Auction Company assume no liability for any inaccuracies, errors or omissions in such materials. All persons are responsible for conducting physical inspections in a careful and cautious manner and at their own risk. Seller and Auction Company shall not be responsible for injury to any person during any inspection of the property. ALL PROPERTY IS OFFERED AS IS, WHERE IS. NO WARRANTY OR REPRESENTATION CONCERNING THE PROPERTY, STATED OR IMPLIED, IS MADE BY SELLER, AUCTION COMPANY OR THEIR RESPECTIVE AGENTS AND REPRESENTATIVES. WITHOUT LIMITING THE FOREGOING PROVISION, SELLER, AUCTION COMPANY AND THEIR RESPECTIVE AGENTS AND REPRESENTATIVES DISCLAIM ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE.

AGENCY: Auction Company and its agents and representatives are exclusively the agents of the Seller.

CONDUCT OF AUCTION: The conduct of the auction and increments of bidding will be at the discretion of the auctioneer. Seller and Auction Company reserve the right to preclude any person from bidding if there is any question as to the persons identity, credentials, fitness, etc. All decisions of the auctioneer at the auction are final.

CHANGES: Please arrive prior to scheduled auction time to inspect any additions or changes to the property information. OFFICIAL ANNOUNCEMENTS MADE FROM THE AUCTION PODIUM ON AUCTION DAY WILL TAKE PRECEDENCE OVER THE MARKETING MATERIALS AND ANY OTHER PRIOR STATEMENTS.

BANKRUPTCY PROCEEDING: All property (except certain items of the equipment) is part of the bankruptcy estates described below and is being sold free and clear of liens pursuant to the order of the court.

OWNER: Burger, et. al., bankruptcy estates (jointly administered) as Case No. 13-70043-BHL-11 in the U.S. Bankruptcy Court, S. Dist. of Ind., Evansville Div.; and Burger Turkey Farms Transit, LLC.

Auction Brochure

Equipment Sale Terms

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