PRE-AUCTION BIDS All pre-bids, under FSS 475 Real Estate Law will be delivered to the seller. Abal Auction Real Estate encourages pre-auction bids if they are exceptional. We are sole representatives of the seller only, and obligated to present all bids to our seller client. If a pre-auction offer is presented, it must be delivered in writing 24 hours prior to the close of the auction on January 31, 2008. The terms of all pre-auction bids will become public information and be immediately disclosed to all interested parties. All pre-bids will be subjected to all terms and conditions of the auction as indicated in the property information package. The terms and conditions of the auction include the Buyer's Premium which will be added to the pre-bid to arrive at the total contract price. Although an auction event is always the intent of the Abal Auction Real Estate auction listing, the ultimate goal is to sell the property for the satisfactory price for the seller. If a property sells prior to the auction, the auctioneers will provide appropriate notice to those individuals who expressed an interest in the property. Buyers are encouraged to complete their research on the property and read the property information data prior to submitting their pre-auction bid. Remember, it is in the best interest of the buyer to offer the most exceptional bid possible if he expects to get the seller's attention to accept the bid. METHOD OF SALE This property will be offered by Internet competitive bidding. The property is selling with seller confirmation to the highest bidder. Acreage and frontage amounts, including markers, are approximate and subject to final survey. Property sells as-is, where-is. Information contained herein derived from sources deemed reliable but not warranted or guaranteed. TAXES The 2007 ad valorem taxes will be prorated between the seller and the buyer as of the date of closing. POSSESSION Possession of the real estate will be granted to the buyer at closing. SURVEY The property has NOT been surveyed for this auction. The most recent survey can be viewed under documents. If an actual survey shows a greater or lesser number of acres or footage, it will not affect your purchase or the purchase price. All acreage and dimensions are believed correct but are not warranted nor guaranteed. SPECIAL CONDITIONS OF SALE A. Seller presently has title to this property. At the time of closing, Seller agrees to convey good and marketable title to said property by General Warranty Deed subject to (1) zoning ordinances affecting said property; (2) general utility, sewer, road, and drainage easements of record; (3) subdivision easements, covenants and restrictions of record, if any; and (4) leases, other easements, other restrictions and encumbrances specified herein. B. This property is sold subject to all outstanding easements on said property for roads, power and telephone lines and the like. C. Auctioneer and Seller do not warrant or covenant with Buyer with respect to the existence or nonexistence of any pollutants, contaminants or hazardous waste prohibited by federal, state or local law or claims based thereon arising out of the actual or threatened discharge, release, disposal, seepage, migration or escape of such substances at, from or into the demised premises. Buyer is to rely upon it’s own environmental audit or examination of the premises. D. A detailed title search for this property has not been made. Consequently, Auctioneer and Seller are not positive as to the status of the oil, gas and mineral rights. The Sellers agree to convey all interest in any oil, gas, or mineral rights to the Buyer at closing. Any oil, gas or mineral rights previously sold will not be conveyed to the Buyer. RELEASE By its acceptance of the deed, buyer shall be deemed to release seller, and Abal Auction Real Estate, from any and all claims and liabilities relating to any defect, deficiency of other matter concerning the property including, without limitation, the quality, condition, quantity, or use of the property. Seller, and Abal Auction Real Estate give no warranties of any kind either expressed or implied, with respect to the condition, merchantability, use, size, configuration, design or suitability of the property. ASSESSMENT OF CONDITION All bidders, including buyer, should rely solely on personal inspection and not information listed in this property information document, on the website, or otherwise provided by Abal Auction Real Estate or seller. Any bidder's failure to inspect, or otherwise be fully informed as to the nature, quality, condition, quantity, and size of any items will not constitute grounds for any claim, adjustment, refund, termination of the Auction Contract, or refusal to close the sale. REPRESENTATION Buyer and Seller acknowledge and agree that the only auctioneer/broker involved in this transaction is the Abal Auction Real Estate and has acted as agent for the Seller only in this transaction. Abal Auction Real Estate has not acted as agent in this transaction for the Buyer. TERMS AND CONDITIONS All bidders and others participating in the auction agree that they have read and fully understand the terms and conditions and agree to be bound thereby. Registered bidders must acknowledge that they have the means in the form of cash, cashier’s check, personal or company check with a bank letter of guarantee to make the $7,500 nonrefundable deposit. (Make check payable to yourself.) Successful buyer must make a $7,500 nonrefundable deposit immediately after buyer is declared the winner, in the form of cash, cashier’s check, personal or company check with a bank letter of guarantee. Successful buyer must sign a Contract for Sale of Real Property with the balance of contract price due at closing within 30 days of auction. The property sells ‘As is, Where is’ no warranties expressed or implied. No financing contingencies. Bidders must have their financing in order and completed prior to bidding. Please call the auction company if you need referrals for financing or other professional services. The auctioneers represent the seller only, but do maintain referral listings of service providers in the real estate community. Get qualified to bid. If you need a list of lenders call the Auctioneer now (850) 510-2501. No conditions may be added to the Contract for Sale of Real Property by the successful buyer either during the auction or otherwise. In bidding, you are asserting you have the funding to close. AUCTION RECOMMENDATIONS Thoroughly read the property information document and familiarize yourself with the property offered and the auction terms and conditions. If you will require financing, please see a lender for pre-qualification. Get qualified first. Call the Auctioneer for a lender list. BID RETRACTION By placing a bid, buyer and all other bidders acknowledge all terms of the auction and agree not to retract the purchase offer. If a bidder cannot satisfy the terms of the auction, the bidder should not bid. BID REJECTION Abal Auction Real Estate reserves the right to reject any and all bids from any bidder. AGENCY DISCLOSURE In all transactions, the auctioneers are acting as agents for the seller, not as buyer's agents. RADON GAS DISCLOSURE Radon is a naturally occurring radioactive gas that when it has accumulated in a building in sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of Radon that exceed Federal and State guidelines have been found in buildings in Florida. Additional information regarding radon and radon testing may be obtained from your County Public Health Unit Pursuant to 404-056(8), Florida Statutes. CLOSING The sale will be closed at Woodlands Title Company, Inc., 3079 Crawfordville Highway, (P.O. Box 726, Crawfordville, Florida 32326) Crawfordville, Florida 32327, (850) 926-7501. The title company will charge the buyer $200.00 per real estate transaction. The closing fee includes conducting the closing, collecting and disbursing funds at closing, and preparing a closing statement. If the Buyer needs additional services they will be provided at a reasonable fee. The seller will pay the State of Florida Documentary Stamps and for preparation of the General Warranty Deed. Any additional closing fees including, but not limited to, recording, financing expenses, intangible taxes, title fees, title insurance, appraisals and inspection reports, will be the buyer’s expenses. DISCLAIMER Abal Auction Real Estate, and the Seller have gathered this information and believe it to be correct to the best of our knowledge. All documents and information are being furnished to the bidder for the bidder’s convenience and it is the responsibility of the bidder to determine that information contained herein is accurate and complete. Any reliance on the contents shall be solely at the bidder’s risk. These documents are being provided without any warranty or representation, expressed or implied, as to its content, its suitability for any purpose or its accuracy, truthfulness or completeness. The buyer must conduct and rely solely upon its own investigation and inspection. Further, all parties acknowledge and agree that the property is being sold “AS IS”, "WHERE IS", with any and all faults. The Seller shall have no obligation for repairs or replacements noted in any inspection(s) made by or for Buyer. Such repairs or replacements shall be the sole responsibility of the Buyer. Please review all information supplied and seek appropriate assistance prior to bidding.