TERMS AND CONDITIONS BUYER PREMIUM: The highest bidder acknowledges that there is a ten percent (10%) Buyer’s Premium which will be added to the final bid price to be paid by the highest bidder and will be incorporated into the total selling price. The highest bidder also will acknowledge that Maas Companies, Inc. is the Agent for the Seller. Independently, if applicable, a two percent (2%) Broker Participation Fee will be due from the Seller to the Broker representing the highest bidder who registers with Maas Companies, Inc. prior to the completing their on-line registration. Said participation fee shall be paid when the highest bidder, registered by said broker, closes on the purchase of the property. Broker Participation is not required. FIRST CERTIFIED DEPOSIT: In order to obtain bidding privileges, a bidder must deposit via a wire or certified check an amount of $ 5,000.00/per property (or $10,000/Property #8) to the respective escrow agent. First American Title is the escrow agent for Properties 1, 2, 8, 9, 13, 16, 17, 18, 20, 22 and 23. Independent Title Services is the escrow agent for Properties 3, 4, 5, 6, 7, 10, 11, 12, 14, 15, 19 and 21. If the bidder is not the successful bidder, the First Certified Deposit will be returned on or about Tuesday, June 19 as per the escrow agreement. The successful bidders’ first earnest money deposit will be applied toward the purchase price and is NON-REFUNDABLE, unless the Seller cannot give clear title on the property. SECOND CERTIFIED DEPOSIT: The high bidder must submit a SECOND CERTIFIED DEPOSIT bringing the total deposit monies equal to 20% of the total purchase price due within 2 business days of bid acceptance. For example, if Property A has a total purchase price of $100,000, the FIRST CERTIFIED DEPOSIT IS $5,000, THE SECOND CERTIFIED DEPOSIT IS: ($20,000 - $5,000 =) $15,000. The remaining balance of $85,000 is due on day of closing, no later than July 14. The earnest monies deposits are NON-REFUNDABLE unless the Seller cannot give clear title on the property. CLOSING: The balance of the purchase price shall be due in full at closing, which is to be on or before July 14, 2012. Funds shall be made payable to the respective title companies and must be by certified funds. Each party shall be responsible for its own attorney’s fees. First American Title is the escrow agent for Properties 1, 2, 8, 9, 13, 16, 17, 18, 20, 22 and 23. Independent Title Services is the escrow agent for Properties 3, 4, 5, 6, 7, 10, 11, 12, 14, 15, 19 and 21. Seller will pay all costs associated with the preparation of the Deed. The Buyer will be responsible for any title opinions or title insurance in relation to said property, as well as recording the deed. TITLE: The seller will ensure that the property will be conveyed by quit claim deed from the Owner. Title will be conveyed with marketable title, clear of all liens and encumbrances. Buyers may purchase title insurance on property, if desired by Buyer or required by lender, and is responsible for expenses for said policy. REAL ESTATE TAXES: Taxes are to be prorated to the date of closing. Seller will be responsible for the property taxes for the year 2011 and prior. Seller will pay all existing and pending assessments at the time of closing as well as transfer taxes. INSPECTIONS: The property will be (or has been) available for inspection on the following days and times: Mondays, May 21 & June 11, 1-5pm. The Buyer acknowledges that the Buyer has inspected the property and is purchasing the property on an “as is, where is with all faults” basis. The Buyer also acknowledges that there are no express or implied representations or warranties by Seller as to physical conditions, quality of construction, workmanship, or fitness for any particular purpose. The Buyer further acknowledges that the information and descriptions are believed by the Seller to be accurate, however, such information and descriptions are not guaranteed. ADDITIONAL TERMS: The Buyer agrees to be bound by the terms of these terms and conditions and agrees to execute any additional documents to proceed with the purchase of the property under the terms of this offer. Bids submitted on Proxibid are binding and irrevocable. Bidders further acknowledge that the property is selling subject to owner confirmation with 24 hours of the sale. MANNER OF SALE: The Buyer understands that the sale is subject to and conditioned on Seller’s approval within 24 hours of the auction’s closing. At such time if the offer is accepted, the Seller will execute the purchase agreement. Seller reserves the right to accept or reject any offer. Bidders are bound by their bidding via Proxibid, at no time may a buyer revoke a bid. The order and manner of the bidding may be altered at the time during the process. ANY ANNOUNCEMENTS MADE DURING THE AUCTION PROCESS WILL TAKE PRECEDENCE OVER MATERIAL PUBLISHED ABOUT THIS EVENT.