Online Auction terms and Conditions / Registration: This Online Auction is on 110 Wesley Chapel Road, Somerset, KY 42501. These terms and conditions apply to the Log Cabin and 100 Acres M/L. The House and Real Estate in this Auction are: One Lot in this Auction includes Log Cabin and 100 acres M/L. Do not bid until you have read the following terms and Conditions. Please direct all questions to ERA Home Towne Realty and Auction 606-679-7895. 1. This online Auction is opened to all public bidders: 2. Bidders who agree to the terms and conditions must be registered to bid online. In order to be registered to bid the bidder must obtain a bidding number to bid; however, there is no requirement to bid. All bidders’ identities will be verified. A Credit card is required to register; however, No charges will be made to your credit card. Once registered the bidder has acknowledged they understand and agree to the terms and conditions of the auction. The winning bidder on each individual house or more than one house must sign a purchase contract after the ending of the Auction on July 20th at 1:00PM. The contract will be e-mailed or faxed then the contract must be sent back by the same method. The original sales contract(s) will be followed up through overnight mail. 3.The winning bidder must wire transfer a 10% down payment at the end of the Auction which is July 20th at 1:00 PM these funds will be wired to ERA Home Towne Realty and Auction Escrow account through Bank to Bank wire transfer.10% down wired transfer is non-refundable. Each house is sold as-is no warranties expressed or implied, and in the event the purchaser does not go through with the contract the earnest money shall not be refunded. 4.There then must be a Real Estate Closing within 30 days for the balance of funds to be paid at closing. This will be on or before August 20th 2010. Possession with deed. Real Estate taxes to be prorated. 5.Buyer at closing must pay Title Opinion and deed recording fee. On each house purchased at time of closing. 6.Possession at closing with deed transfer. 7. The real estate properties are selling in its “As-IS-Where-Is” condition with no warranties expressed or implied. 8. Buyer to Assume insurance at closing. 9.Bidding increments are controlled by Proxibid and cannot be changed. Please check with Proxibid for minimum bidding increments. 10.Contract Sales Price—the contract sales price will be the combination of the high bid price and a 6% buyer’s premium together on the House and 100 Acres M/L. 11.The information contained herein is believed to be correct to the best of the Auctioneer’s knowledge. It is the bidder’s responsibility to determine if this information is correct, accurate and complete, this information is described for the benefit of the potential bidders. The real estate property is selling in its “As-IS-Where-Is” condition with no warranties expressed or implied. Each bidder should view the property before the end of the auction. The failure of any bidder to inspect, or to be fully informed as to the condition of the property, will not constitute grounds for any claim or demand for adjustment or withdrawal of bid, offer or earnest money after its opening tender.