PROPOSED ORDER OF SALE Please feel free to ask any member of Furrow Auction Company if you have questions or do not understand the process. We want to make you comfortable with the auction process. Round 1 1. Tract 22 will be offered. Bidding will be by the tract. 2. Tract 11 will be offered. Bidding will be by the tract. 3. Tract 21 will be offered. Bidding will be by the tract. 4. Tract 13 will be offered. Bidding will be by the tract. 5. Tract 12 will be offered. Bidding will be by the tract. 6. All Remaining Tracts (1-10, 14 – 20, 23 – 30) will be offered PICK and CHOICE – By the Acre. You will bid by the acre for the opportunity to pick first. If you are the winning bid you may take one or more tracts at the bid price, multiplied by the number of acres in the chosen tracts. If you are the winning bid you will be asked which tract or tracts you want, once you have chosen your tracts, they will be marked off sold, subject to “grouping” and a 10% Buyers Premium at the time you execute your sales contract. 7. Once that bidder has chosen their tract(s) bidding will re-open. Again bidding by the tract for the remaining tracts. Bidding will continue until all tracts have been sold subject to “grouping”. Round 2 **Rules of Grouping – In order to group tracts, they must adjoin each other by 50 feet. You cannot “break up” a bidder who already owns adjoining tracts. Example: If bidder #1 purchased tracts 3 and 4 in the first round, and you wanted to group tract 4 and 5 you would also have to include tract 3 in the grouping since bidder #1 purchased those in the first round and they adjoin each other. You are not allowed to break-up a bidders adjoining tracts. 1. The auctioneer will offer grouping of tracts requested by the audience based on the above rules, beginning with the fewest number of tracts first or smallest dollar increment. If there is a request to group a tract in two separate grouping scenarios the grouping which represents the highest dollar amount and the fewest number of tracts will be grouped first. 2. The cost to group is arrived at by adding the price each tract brought in the first round and then adding 10% to the total. (ex. Group tracts 3 and 4. – First round price Tract 3 – $50,000 Tract 4 - $50,000. To group would cost $110,000) 3. Anyone is allowed to group tracts, you did not have to bid in the first round in order to group tracts. 4. Once a grouping has been activated anyone may bid on that group. 5. Any tracts that are grouped in this round may be re-grouped according to the same principals. Any dollar raises made by grouping will affect re-grouping prices. Round 3 1. At this point we will entertain anyone who requests to have all the tracts on the north side of SpringvaleRd. (Tracts 1 – 12) grouped together as a whole, as well as anyone who requests to have all the tracts on the south side of Springvale Rd. (Tracts 13 -30) grouped together as a whole. 2. The cost to do so will be determined by previous round sale prices plus adding 10%. 3. Anyone may be allowed to group as a whole, you did not have to bid previously to participate. 4. If no one wants to participate in this round then the auction will be confirmed as sold in Rounds 1 & 2. Round 4 5. At this point we will entertain anyone who requests to have the entire farm (Tracts 1– 30) grouped together as a whole. 6. The cost to do so will be determined by previous rounds sale prices plus adding 10%. 7. Anyone may be allowed to group as a whole, you did not have to bid previously to participate. 8. If no one wants to participate in this round then the auction will be confirmed as sold in Rounds 1, 2 & 3. ___________________________________________________________________________ Terms for Online Bidding: The online registration will need to be completed, including credit card information which will be verified and approved, and the credit card will be charged $1.00 for this process. If you are the successful bidder and do not deliver the earnest money as outlined above, a charge of 10% of the Purchase Price will be placed on the credit card plus a 3% credit card fee. The card is for verification purposes to ensure we have serious bidders. The balance of the contract price will be paid in full at closing no later than 20 days from date of contract. The successful online bidder will be notified immediately following the closing of the auction and issued the sales contract. The executed sales contract shall be submitted per the instructions received with the contract. If you have any questions, please call our office at 865-546-3206. BUYERS PREMIUM: A 13% buyers premium will be added to the high bid. Example: For each $10,000 a 13% buyers premium of $1,300 will be added to arrive at the total purchase price. AGENCY: Furrow Auction Company, auctioneer/broker, is acting exclusively as agent for the seller. CLOSING ATTORNEY: Closings will be conducted by Hartland Title Services, Inc. 1840 Country Club Drive, Morristown, TN 379814 Phone 423-586-5322 on or before October 20, 2017. Taxes to be pro-rated at closing. Buyer shall pay: (1) all title examination updates and insurance (at Buyers option and expense); (2) one-half closing fee; (3) recording of deed. For questions regarding closings contact Rob Strickland, Furrow Auction Company, 865-546-3206 or email rob@furrow.com. DISCLAIMER: Property is selling as-is, where-is with all faults and is selling subject to easements, leases, restrictions, covenants, conditions, zoning HOA and POA fees and all other matters which would be revealed by a current survey or an inspection of the property or which is contained in public records. Seller reserves the right to cancel the sale or pre-sell all or a part of the property. Property will be conveyed by a Warranty Deed. Information contained herein was obtained from sources deemed reliable. The seller and their agents reserve the right to place bids on the property up to the sellers reserve at their sole discretion. The property will sell as-is, where-is with no warranty, expressed or implied, as to improvements, soil condition, environmental and wetlands, or zoning. No personal property conveyed with real estate. Neither the seller, Furrow Auction Company nor their agents will be responsible for any errors or omissions herein. Bidders should carefully verify all information and make their own decisions as to the accuracy thereof before submitting their bid. Purchaser or purchasers representative will acknowledge by signature of the Contract of Sale they have inspected the property. The terms of the Contract of Sale are controlling in the event of any perceived inconsistency between its terms and any statements or other advertisement. Cash Sale: This is a cash sale and is not contingent on Purchasers ability to obtain financing. Possession: Purchaser will receive possession at closing. No New Survey: The Property shall be conveyed by the existing legal description. Equal Opportunity Clause: All bidding is open to the public. The property is available to qualified purchasers without regard to a prospective purchasers race, color, religion, sex, material status, national origin, or physical handicap. Debt Collection and Interest Charge: The bidder agrees to pay all reasonable attorney fees and other costs incurred by Furrow Auction Company in its efforts to collect unpaid funds from the bidder. The bidder agrees that a fee of 2% of the outstanding balance per month be added to any unpaid balance due Furrow Auction Company. Any debt collection or dispute proceedings will be heard in Knox. County. Guaranty Agreement: By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees payment of any bid amount not paid when due by the business entity or corporation, for any reason, together with all collection expenses incurred to enforce collection, including a reasonable attorneys fee. Age Requirement: All bidders must be 18 years of age or older.