Internet Buyer’s Premium 10.75% STEPS TO BID ONLINE: ONE: Print out 4 copies of the Purchase & Sale Agreement (P&S) found in the Property Information Package (PIP) located at www.CatesAuction.com. NOTE: Adobe Acrobat Reader software must be installed on your computer in order to view & print these documents. You can download the free software on Adobe's website. TWO: Obtain a cashiers check in the amount of $10,000 as an earnest money deposit payable to Thomson Title Corporation. THREE: Sign all (4) copies of the Purchase & Sale agreement and send these documents with the cashiers check to: Cates Auction & Realty Co., Inc. (877) 781-1134 FOUR: Once received, you will be contacted by a Cates Auction & Realty Co. representative. The Cates representative will then approve you to bid. On auction day, log onto www.proxibid.com, click the "Bid Live" button and log into the auction. ONLINE HIGH BIDDER INSTRUCTIONS: ONE: If you are the successful bidder on the property, Congratulations! TWO: You will immediately be notified by email that : A. You are the successful bidder B. Your pre-signed Purchase & Sale agreements will now be executed. C. You must wire transfer the additional earnest money deposit required to bring your total deposit to 5% of the purchase price. Wire transfer instructions will be emailed to you. THREE: Once the full earnest money deposit is received, you will be emailed a copy & mailed an original of the executed Purchase & Sale Agreement. FIVE: Closing is to take place on or before 30 days from the auction date. NOTES: ONE: If you are not the high bidder or your high bid is not accepted by seller, your full deposit and signed Purchase and Sale agreements will be returned to you via Priority Mail. TWO: The purchase price shall be defined as the hammer price (high bid) plus a 10% buyer’s premium. THREE: For internet bidders, the purchase price shall be defined as the hammer price (high bid) plus a 10.75% buyer’s premium. FOUR: For internet bidders, the Purchase & Sale Agreements and cashiers check must be received at least two (2) days prior to the auction to allow adequate time for registration.