Terms and Conditions of Sale Property Inspection & Disclaimer: It is the Purchaser's sole responsibility to perform their own due diligence, including verification of all property information and public records. Information presented herein and in any advertisement or other promotional items, while gathered from sources believed to be reliable, are not warranted or guaranteed by Auctioneer Bobby Lyons, Auctioneer Randy Ligon, nor the seller. Personal inspection and verification of any and all items is the responsibility of the bidder. Although every effort has been made to confirm the property information as shown, all parcels sell in "As is, where is" condition with all faults. No warranty, expressed or implied, is being made as to improvements, soil condition, utilities, environmental, wetlands, easements, restrictions or zoning. Seller and Auction Company assume that the Purchaser (s) has inspected the property prior to bidding and that it is suitable for their purposes. The property is selling subject to the rights-of-way and easements of record, where applicable. Registration: Anyone wishing to bid on items in the auction should register and obtain a bidder card at the bidder registration table. Anyone bidding for an account other than their own must register as such. Auctioneer reserves the right to reject anyone who is not a registered bidder. For On-Site registration, a valid driver’s license is required to register. Buyers Premium: A ten percent (10%) Buyer's Premium will be added to the final bid price and included in the total contract price. Buyer's Premium does not imply an agency relationship between Auctioneer and Bidder. There is an additional 1% Internet Purchase Fee charged on all online purchases. Reserves: Unless otherwise noted such as absolute or a disclosed minimum bid, the property is being sold subject to seller confirmation, meaning the seller has up to 7 days to accept or reject the high bid. Unless otherwise noted, these properties have a Reserve Price, meaning the seller has established an unpublished, minimum selling price. The starting bid is not the reserve price. In order to win the Auction a bidder must meet or exceed the reserve price and have the highest bid. If no bidders meet the reserve price then the seller is under no obligation to sell the property but may do so at their sole discretion. Purchase Contract: Once the high bidder is determined, and the bidding is closed by the Auctioneer, the high bidder will be required to sign the Purchase Contract for the amount of the high bid plus the 10% Buyer's Premium which will be equivalent to the total contract price. Other documents may also require signature. Unless otherwise noted, seller will have 7 business days to accept or reject the contract. Deposit: In addition to signing the contract, the high bidder will be required to pay, in US funds, a down payment of 10% of the final contract price at the conclusion of the auction. If the contract is accepted by the Seller, all down payments will then be non-refundable and will be held in trust with Johnson, Smith Law Firm. Down payments will be credited toward the purchase price at closing. Acceptable forms of payment are personal check or cashier's check. Online bidders who win the auction and who fail to return the deposit and signed contract within 48 hours of the conclusion of the auction will have a $2500.00 service fee charge to the credit card used at registration. Contingencies: There are none. Bidder understands and agrees that the sale is not contingent upon financing, appraisals, further inspections, survey, third party approval, or the like. You are bidding to buy the property AS IS with NO CONTINGENCIES WHATSOEVER. Closing: Closing will take place on or before Friday, January 15th, 2016. All closing costs will be paid by the Buyer, including title search, deed preparation, documentary stamps, recording fees, attorney fees, etc. Property taxes and rents, if applicable, will be prorated to the day of closing. Survey: The property is being sold subject to deed description and plats of record. Any required additional survey will be the responsibility of the Buyer per the survey fee spreadsheet provided as the bidder registration table and posted on our display board at the property information section of this ballroom. Title Insurance, if desired, will be purchased by the Buyer. Agency Disclosure: Auctioneers are acting exclusively as an agent for the Seller. The Auctioneer is not acting in any way as an agent for the Buyer. Auctioneer will in no way be considered a Dual Agent. Equal Opportunity: All bidding is open to the public. The property is available to all qualified purchasers without regard to race, color, religion, familial status, national origin, or handicap/disability. Miscellaneous: All decisions of the auctioneer are final as to methods of bidding, disputes among bidders, acceptable bidding increments and other matters that may arise before, during, or after the auction sale day announcements take precedence over any prior statements, printed material or advertising. Bidders Acknowledgement: I have received a copy of these terms and conditions understand them and agree to abide by them. I have received a copy of the agency disclosure brochure and understand that the auctioneer is the agent of the seller, and only the seller. I agree to the terms and conditions stated herein. Should I become the high bidder, I will sign the Purchase Contract and other documents as may be required. This document will become part of the non-contingent contract of sale to purchase the property described herein. Broker Registration: Brokers/Agents must register their client by 5:00pm the business day before the auction via the Broker Registration Form. A three percent (3%) commission of the high bid price will be paid to any properly registered broker whose client purchases real estate at the auction and closes in full. It is the responsibility of any agent representing a client to have completed and returned the Broker Registration Form by the published deadline. Registration forms must be signed by the Auctioneer to be valid. No registration forms will be accepted at the auction. The Auctioneer and Proxibid.com accept no liability for loss or damage arising (including but not limited to costs of attendance of Bidders at the Auction) from any properties not presented for sale. Bidders are to be held personally liable for any bids made with their Bidding Number. All sales are final. In the event of any dispute, the Auctioneer shall have absolute discretion either to settle such dispute or to offer the property for re-sale. The Auctioneer may refuse to accept any bid that, in the auctioneer’s opinion, is not in the best interests of the seller. It is an offence against the Property, Stock and Business Agents Act 2002 for a person to do any of the following as a result of a collusive practice, or to induce or attempt to induce another person by a collusive practice to do any of the following: to collude with another bidder with the intention of abstaining from bidding or to bid to a limited extent only or to do any other act or thing that might prevent free and open competition. Severe penalties may be imposed on persons convicted of collusive practices. The Auctioneer and Proxibid.com has described the Lot(s) in the catalog to the best of their ability and belief from information furnished by the Seller(s) who shall be alone responsible for any error or miss-statement, which there may be. The Auctioneer and Proxibid.com undertake no liability whatever in respect of any faults, deficiencies and errors of any description, oral or printed, nor do they accept responsibility for the authenticity, genuineness, origin, age, condition or quality of any Property(s) and all statements as to these matters whether contained in the catalog or made orally are statements of opinion only and not to be taken as being or implying a statement or representation of fact. The Buyer acknowledges he/she has read and agrees to be bound by the additional terms and conditions set forth. Please sign below to buyer representations: • I have read and agree to the Terms and Conditions of Auction Sale as set forth herein. • I understand that I do not have an agency relationship with The Lyons Group, LLC & The Ligon Company auctioneers, firm and all parties employed by or associated with. • I understand that all lots will be sold “As-Is, Where-Is”. • I understand that, unless otherwise noted, the property is being sold subject to seller confirmation meaning the seller has up to 7 days to accept or reject the high bid. • I understand that closing will take place on or before Friday, January 15th, 2016 and that the sale is not contingent upon financing, appraisals, further inspections, survey, third party approval, or the like. • I understand that, in the event I am the successful bidder, a ten percent (10%) Buyer's Premium will be added to the final bid price and included in the total contract price. There is an additional 1% Internet Purchase Fee charged on all online purchases. • I understand that a non-refundable down payment of 10% of the final contract price will be due on the day of the sale. Online bidders will have 48 hours from the conclusion of the auction to submit down payment on winning bids. BY REGISTERING AND BIDDING, YOU HAVE ACCEPTED THESE TERMS AND CONDITIONS OF AUCTION SALE.