These are Kiefer Auctioneers Terms & Conditions for this auction. They consist of the complete outline below between you (“the Bidder”) and Kiefer Auctioneers known as (“Auctioneer”). These purchaser Terms and Conditions (“Purchaser Terms”) apply to all bidding at any auction conducted by Kiefer Auctioneers, LLC, hereinafter called (“Auctioneer”). By registering to participate in an Auctioneer auction sale, whether at a live auction sale, via online bidding in a timed internet auction or a live internet auction (“Online Bidding”) or by electing to purchase property or other auction items (“Auction Items”) by clicking the "Bid Now" and “Buy Now” icon on the applicable Auctioneer online marketplace (each, an 'Auction'), each person or entity (“Bidder”) expressly agrees to abide by these Purchaser Terms. Participation in an Auction by any person under the age of 18 is strictly prohibited and in violation of these Purchase Terms. A Bidder who is the highest accepted bidder at a Live Auction or an Online Bidding Auction, or a person or entity purchasing an Auction Item, is referred to herein as a “Purchaser”.  By registering to bid in Auctioneers auction, the Bidder hereby agrees and understands that they have read, understand, and agree to abide by Kiefer Auctioneers Purchaser Terms & Conditions by becoming a registered bidder. It is the bidders responsibility to obtain and understand these Terms and Conditions prior to bidding on any property, items and/or lots. The bidder agrees to accept and be legally bound to the Purchaser Terms and Conditions. Additional Terms may be posted or announced from the Auction Block the day of auction, which shall also become legally bound to the Bidder.  It is solely the Bidders responsibility to request the Purchaser Terms and Conditions for each auction from Auctioneer.  All announcements made by auctioneer the day of auction, shall supersede any printed or oral materials. Kiefer Auctioneers (referred to herein as “Auctioneer”) has a contract with The Estate of Frank Jacobs / Lori Jacobs (“Seller”) to offer for sale at public auction the real estate lot 19170 US-377 North, Whitesboro, TX 76273.  The property is being offered to sell at public auction to the highest bidder. Kiefer Auctioneers Terms and Conditions Ring C: Real Estate Auction of Real Property 19710 US-377 North, Whitesboro, Texas 76273 Live Simulcast Auction Start Time: 12:00 pm via ProxiBid  (We will pause Ring B to Sell the Real Estate) Live On-site Bidding Start Time: 12:00 pm  Any questions about the Real Estate Property (and any showings) need to contact Don Guy with Bluestone Partners at: Cell:  903.436.9322 | Office:  903.375.0323 | don.guy@bluestonecre.com For technical online bidding issues, please contact ProxiBid at: (877) 505-7770 (United States)  +1 (402) 505-7770 (International) A.    Property The Property is selling subject to, and any Contract is not contingent upon, any state of facts an accurate survey or personal inspection of the Property may reveal, any existing rights-of-way, easements, or claims to easements, encroachments, rights or claims of parties in possession, restrictive and protective covenants, flood zones, zoning, or subdivision regulations, building codes, health and safety codes, governmental agencies regulations, environmental conditions, hazardous materials, leases or tenancies, any mineral rights, reservations or leases, and subject also to all title exceptions as set forth in the Title Commitment that is available for inspection. The Seller will be able to convey the property free and clear of any liens or encumbrances except as may be specified in the Title Commitment and/or Real Estate Sales Contract. Maps and depictions included in the marketing material for the auction are for illustration purposes only and neither Seller, nor Auctioneer warrants or guarantees any of these materials or other information to be accurate or complete. The property is sold “As-Is”: NO WARRANTY; AS-IS/WHERE-IS AUCTION SALES: ALL SUCCESSFULLY BID OR PURCHASED AUCTION PROPERTY AT AN AUCTION ARE SOLD ON AN “AS-IS WHERE-IS” BASIS WITHOUT ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, NON-INFRINGEMENT, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. THE DESCRIPTION OF AUCTION PROPERTY IS SOLELY FOR THE PURPOSE OF IDENTIFICATION AND DOES NOT CONSTITUTE A REPRESENTATION OR WARRANTY THAT THE AUCTION PROPERTY WILL CONFORM TO SUCH DESCRIPTION OR TO ANY CONDITION REFERRED TO THEREIN. NEITHER AUCTIONEER, NOR THE SELLER (“SELLER”) MAKES ANY WARRANTY OF THE AUCTION PROPERTY. Bidders, and Buyer’s Agents, should rely solely on their own inspection of the entire auction property prior to the sale and should satisfy themselves as to the usefulness and value of the property. Any statement in the description regarding the property to be sold should be considered a limited guide only. Any error in description does not relieve the buyer or his/her agent of their responsibilities to inspect.  B.    Property Inspection It is the Buyer’s sole responsibility to: a) perform all inspections (legal, environmental, economic or otherwise) of the Property and to be satisfied as to its condition prior to bidding; b) review all property information and due diligence materials; c) independently verify any information they deem important including information available in public records; and d) inquire of public officials as to the applicability of and compliance with land use and environmental laws, zoning, building and health & safety codes and ordinances and any other local, state or federal laws and regulations. All information contained in promotional materials, including, but not limited to, photographs, directions, acreage, square footage, dimensions, zoning, maps used for promotion, environmental conditions, taxes, etc., was provided by or on behalf of the Seller and is believed to be correct; however, neither the Seller, nor the Auctioneer, makes any promise, representation, guarantee, or warranty as to the accuracy or completeness of such information.  There is no obligation on the part of Seller or Auctioneer to update any information.  Buyer and Buyer’s broker and agent, shall be responsible for verifying all acreage and square footage amounts through public records. C.    Down Payment Day of Auction There will be a Ten Percent (10%) non-refundable down payment required the day of auction that will be that will be added to the Total Contract Sales Price. The non-refundable Ten Percent (10%) down payment contains a Six Percent (6%) buyer’s premium that must be paid immediately after the sale of real property, by the highest winning bidder known as the Purchaser, when the contract is executed with real estate agents. Acceptable forms of payment for the non-refundable down payment via Cash, Cashier’s Check, or a Personal / Business Check will be accepted if accompanied by a “Bank Letter of Guarantee”. The remaining contract balance will be due at the time of Closing, no later than, 45 Days from the Sales Contract Date, by 5:00 PM CST. All Buyers are responsible for attaining his/her own Financing prior to Closing. D.    Bidder Registration and Terms & Conditions of Sale Bidders must register and receive a bidder’s number in order to bid on the property.  On Auction Day, a bank letter of guarantee or pre-approval finance letter must be accompanied with the bidder and given to the Auctioneer PRIOR to the auction. Bidders must contact the Auctioneer, Kiefer Auctioneers, Cory Kiefer at (903) 821-8717 or Jacee Kiefer at (940) 391-9111, and Real Estate Listing Agent, Don Guy at (903) 436-9322 at least 1-day PRIOR to the auction to verify all documents required to bid on real estate were received and acceptable by Auction Company.  All bidders will and must be approved by the auctioneer.  The winning bidder will immediately go into contract with the Seller’s Agent and the Buyer’s Agent at the close of the auction and complete a signed Real Estate Sales Contract (provided by the Seller’s Real Estate Agent) and remit 10% of the total contract price as a non-refundable down payment.  Payment can be made by Cash, Cashier’s Check, and Check (ONLY WITH A BANK LETTER OF GUARANTEE).  The Auctioneer is solely responsible for the auction of the real estate and has no part of the contracting of the real estate contract. That will solely be done between the Seller’s and Buyer’s Agents. Winning bidder, Purchaser, on the real estate will be subject to all Texas real estate laws upon signing of contract. IN THE EVENT BUYER FAILS TO ABIDE BY THE TERMS AND CONDITIONS SET FORTH HEREIN OR IN THE RESPECTIVE AUCTION REAL ESTATE SALES CONTRACT EXECUTED IN CONJUNCTION WITH THIS SALE, BUYER ACKNOWLEDGES HE OR SHE SHALL FORFEIT ALL MONIES DEPOSITED WITH TITLE COMPANY. The fully executed Real Estate Sales Contract shall control all terms and conditions of the sale and constitute the entire agreement between the Buyer and the Seller.  In the event of any conflict between these Terms and Conditions of Sale and the Terms and Conditions of such  Real Estate Sales Contract; the Terms and Conditions of the Real Estate Sales Contract shall prevail.  NO CHANGES TO THE TERMS AND CONDITIONS OF THE SALES CONTRACT WILL BE PERMITTED.  BUYER WILL BE REQUIRED TO ENTER INTO THE SALES CONTRACT “AS IS” ON AUCTION DATE. Any person bidding on behalf of another person or entity must have a valid, legally enforceable, unexpired, recordable Power of Attorney approved by Auctioneer 1 day prior to the auction.  If a Buyer is bidding on behalf of a corporation, the bidder shall be individually bound until the bidder presents a corporate resolution prior to closing. If for any reason the Buyer fails or refuses to deposit the required funds or to execute the Sales Contract within 24 hours after bidding has ended on the real estate property, the Seller reserves the right to declare the bidder’s rights forfeited and may re-sell the Property. Buyer must have pre-approved finance letter sent to the Auction Company by any lending agent 1 day prior to auction or by prior arrangements made with auctioneer (if paying in cash or other forms of payment).   E.    Survey If the Seller does not have a current survey, and should the Buyer require a new survey, it will be at Buyer’s option and expense.  Should the final survey show a greater or lesser number of acres than contained in the Seller’s Deed, the auction price will not be adjusted. F.    Closing Cost Seller’s Costs: At Closing, Seller shall pay any taxes due on the property as well as preparation of the deed, title insurance policy and overnight courier fees on behalf of the seller. Buyer’s Costs: At Closing, Buyer shall pay for all remaining closing costs including the fees for, recording costs of the deed, overnight courier fees on behalf of the Buyer, Escrow Agent’s closing fees and all additional sale or closing fees. G.    Closing Closing will be scheduled no later than 45 days after auction date. The Down Payment shall be in U.S. Funds and shall be held in a non-interest bearing account by the Title Company pending completion of necessary closing procedures, after which the Buyer shall be granted possession of the Property subject to any matters contained in the Title Commitment and the Auction Real Estate Sales Contract. H.    Auction Procedures The Seller and Auctioneer reserve the right to offer the Property in any manner they choose. All decisions of Auctioneer are final as to the methods for conducting the Auction and bidding, disputes amongst bidders, the increments of the bidding, and all other matters and issues that may arise before, during, and after the Auction. I.    Licensed Buyer Broker Guidelines Upon the Closing of the transaction contemplated herein, Auctioneer shall be paid a commission pursuant to a separate written agreement between Auctioneer and Seller. If for any reason whatsoever (including the default of any party hereto), the Closing hereunder does not occur, no later than 45 days, then no commission shall be due to the Buyer’s Agent or Broker. J.    Disclaimer Personal on-site inspection of the property is recommended and bidders are advised to independently verify all information they deem important. Inspection is by appointment. This Property is being sold “As-Is, Where-Is” and with “All Faults”.  The Seller and Auctioneer have not made, do not make and will not make, and hereby disclaim, any representation or warranty, whether expressed or implied or statutory, whether oral or written, with respect to the Property, including, without limitation, any warranty as to its value, condition, acreage, square footage, suitability, merchantability, marketability, operability, zoning or subdivision regulations, mineral rights, wind rights, environmental condition, fence lines or property lines or fitness for a particular use or purpose.  No Guarantees are given as to the availability of utilities or accesses, or the permitted or allowable uses of the Property. Neither the Seller, its attorneys, any broker, nor the Auctioneer, shall be liable for any relief including damages, rescission, reformation, allowance or adjustments based on the failure of the Property, including, but not limited to, amount of acreage, square footage, zoning, and environmental condition to conform to any specific standard or expectation, or any third party documents or information. Attendance At Auction Site: Each person attending an Auction acknowledges that an auction site is a potentially dangerous place. Flammable, corrosive and pressurized substances will be present, heavy equipment is being operated and electric circuits may be live. Each person attending an Auction at an auction site before, during or after the Auction shall be deemed to be there at his or her own risk with notice of the condition of the premises, the activities on the premises and the conduct of third parties, and each Bidder shall notify such Bidder’s agents and employees of the foregoing. No person or entity shall have any claim against Auctioneer, its agents, employees or principals for any injuries sustained, or for any damages to or loss of property which may occur from any cause whatsoever at an Auction site. Additional Terms: Auction Items may be added to the Auction. In an emergency situation, Auctioneer reserves the right to remove any Auction Item from the Auction. The information listed online or included in any Auction brochure is only a guideline and the accuracy of such information cannot be guaranteed. Bidder also agrees and understands by registering for an auction, the Bidder agrees to receive advertisements by email, regular mail, phone call or text message from Auctioneer.  Bidder understands and agrees to any phone or text charges that may apply. Assumption; Waiver; Indemnity; Non-Sales: Purchaser assumes all liability whatsoever resulting from the possession, use or disposition of each Auction Item, or real property purchased at an Auction. Purchaser hereby releases, waives, discharges and covenants not to sue Auctioneer and each of its parent, subsidiaries and affiliates and each of their respective directors, officers, employees and other representatives (collectively, “Released Persons”) of and from any and all claims, liabilities, losses or damages that Purchaser may have or has ever had against any Released Person arising out of or relating to the Auction Items purchased at the Auction or use thereof, including without limitation, any liability or damage relating to injury to person or property. Purchaser hereby agrees to indemnify, defend and hold Auctioneer and its parent, subsidiaries and affiliates and each of their respective directors, officers, employees and other representatives (collectively, “Indemnified Persons”) harmless from any and all costs, expenses, damages and liabilities (including, without limitation, attorneys’ fees) incurred or sustained by, or imposed upon any Indemnified Person arising out of or relating to (i) the loading, transport, ownership, repair, maintenance (or lack thereof) and/or use of the Auction Items, and/or any property damage or bodily injury arising therefrom, or (ii) the enforcement of this indemnity by Auctioneer. In the event any Auction Item is deemed a “Non-Sale” by Auctioneer for any reason, Purchaser’s sole remedy shall be an adjustment to or refund of Purchaser’s invoice by an amount that shall in no event exceed the original purchase price of the adjusted lot and Auctioneer shall have no additional liability to Purchaser for any loss or damage arising from or relating to such “Non-Sale”. Governing Law and Venue: These Terms and Conditions will be governed by and construed under the laws of the State of Texas. Claims and Choice of Venue:Any claim or controversy arising out of or relating to these Terms and Conditions, or to any breach thereof, will be resolved exclusively by a state court having jurisdiction in Denton County, Texas, or in the Federal District Court of Texas, where federal jurisdiction exists. Each party hereby submits to the jurisdiction and venue of such courts. You agree that all claims instituted by you will be litigated on an individual basis, and will not be consolidated with any claim made by another party. You agree that any judgments awarded may be applied to and collected from you personally or corporately. Should you file an action contrary to this paragraph, the defending parties may recover reasonable legal fees and costs. Further, if you bring a claim against the Auctioneer and do not prevail, and/or if the Auctioneer takes action against you as a result of your violation of these terms and conditions and is the prevailing party, you agree that you will reimburse the Auctioneer for all reasonable legal fees and costs including reasonable attorney’s fees. K.    Auctioneers Disclosure The Auctioneer is acting exclusively as the agent for Seller in this transaction and is to be paid a fee by Seller pursuant to a separate written agreement between Seller and Auctioneer.  The Auctioneer is not acting as an agent in this transaction for the real estate. Any third party broker is not a subagent of Auctioneer or buyer agents. Entire Agreement: These Terms and Conditions contain our entire agreement and supersede any prior oral or written agreements relating to the same subject matter. For questions, please contact Auctioneer, Cory Kiefer: (903) 821-8717 or info@kieferauctions.com. TX LC#16155 L.    Equal Opportunity Clause All bidding is open to the public. The Property is available to qualified Buyers without regard to a prospective Buyer’s race, color, national origin, religion, sex, familial status, or physical handicap. M.    Miscellaneous 1)     This auction is a privately conducted event. Auctioneer reserves the right to deny any person approval to bid in the Auction. 2)     Back-up Bidders may submit a back-up bid form on the Property and will be contacted if the sale of the Property is not closed. 4)     The Seller reserves the right to announce additional Terms and Conditions of the sale prior to or during the course of the Auction. 5)     Auctioneer is licensed by the Texas Department of Licensing Texas License #16155 Contact information: (903) 821-8717 or (940) 391-9111 | info@kieferauctions.com | www.kieferauctions.com 6)     Licensed Broker/Broker Firm: Blueston Partners, LLC 8)     Licensed Seller’s Agent: Don Guy with Blue Stone Partners – Cell: (903) 436-93222 | Office: (903) 375-0323 | don.guy@bluestonecre.com