REAL ESTATE ONLINE AUCTIONS TERMS AND CONDITIONS 1. All Buyers are required to submit a Bank letter of guarantee acceptable to Auctioneer, to be eligible to bid. This letter of reference may be faxed to (402) 727-8805 and MUST be received in our office NO LATER than 48 hours prior to the Auction. 2. All Buyers are required to submit, via wire transfer or non-refundable cashier’s check, a deposit in the amount of $5,000.00 ("Deposit") payable to Jack Nitz & Associates, Inc. ("Broker" or "Auctioneer"). Payment of the Deposit MUST be received by Auctioneer no later than 48 hours prior to the commencement of the Auction. A separate Deposit is required on EACH parcel that Buyer is interested in bidding on. Wiring instructions can be obtained by contacting Vicki Nitz at the Auctioneer's office at 1 800 301-8805 or via e-mail at: vnitz@omni-tech.net. a. If you are the successful bidder, you must wire-transfer the balance of the earnest deposit called for in the auction terms, within 24 hours of notification, or the next business day, whichever is later. b. If you are not the successful bidder or the Seller rejects your offer, the Deposit you made for bidding on such parcel will be returned to you by bank check sent via Priority Mail. 3. All Buyers are required to submit a signed & fully executed Purchase Agreement for each property that Buyer(s) are interested in bidding on. Purchase Agreements can be obtained by contacting the Auction Company at 1 800 301-8805 or via e-mail request to: heather@omni-tech.net. Signed and fully executed purchase agreements MUST be received in our office NO LATER than 48 hours PRIOR to the Auction. 4. If bank letter of reference, Deposit and executed proposed Purchase Agreement are NOT received more than 48 hours prior to the Auction, Online Bidders will be ineligible to bid on the Property. Any additional questions about these, or any other terms, may be directed to Jay Nitz at 1 800 301-8805 or via e-mail at: jaynitz@omni-tech.net. 5. All Properties offered at Public Auction are sold on an “AS IS, WHERE IS” basis. No warranties, either expressed or implied, will be offered by the Sellers or the Sellers’ Agents or Representatives, other than customary warranties of title. 6. The total Purchase Price of the parcel of Property will be the hammer price (High Bid) plus a one percent (1%) Buyer’s Premium for internet bidders. This is in addition to onsite Buyer's Premium. 7. All purchase transactions MUST be successfully closed within 30 days following the close of the Auction. 8. No contingencies to the sale, such as closing of sale of Buyer’s home, financing, etc., are allowed. All Buyers MUST have their financing in order PRIOR to bidding on ANY Property. 9. All Buyers will receive a fully executed original of the Purchase Agreement, signed by Seller, once the total amount of the Earnest Deposit is received by Auctioneer. E-mailed receipts of the Purchase Agreement cannot be accommodated. 10. Showing requests after the day of the Auction cannot be accommodated. Re-keying of each property at closing is highly recommended. 11. Keys and access to the property will only be given to the Buyers AFTER the successful closing of the transaction. 12. Information, title searches and any other additional information about each property, may be obtained by contacting the Auctioneer at 1 800 301-8805 or visiting the web site at www.nitzauctions.com.